When you apply for a property through us there will be fees payable upon application. Please see the below fee scales which will help you to understand these fees and when you will need to pay them. All Fees are inclusive of VAT at the current rate.
Please note that we are members of both The Property Ombudsman (Independent Redress Scheme) and ARLA and are covered by ARLA Client Money Protection (CMP)
Application Fee - £75 per applicant. The application fee is charged per applicant over the age of 18. This reserves the property for you and we will not normally take applications on it from anyone else whilst your references are being checked. (See exceptions) Should you withdraw, or your references prove to be unsuitable, the application fee is retained by us to cover abortive administration costs. This fee covers credit checks, employer or accountants references and current or previous landlord references if applicable. If your application is successful the Administation Fee will become payable. See below for full details.
Exceptions. Occasionally we will have exceptional interest in a property; if this happens we will collect in applications and fees from all interested parties and refer these to the Landlord. Fees will not be banked until a decision is made and unsuccessful candidates will have their fees refunded prior to referencing. You will be advised of this when you submit your application.
Administration Fee - £150 per property. The Administration Fee must be paid prior to occupation of the property and is charged per property not per applicant. It includes preparing a tenancy agreement, the inventory, the check in procedure, the registering of the security deposit and the transfer of all the utilities.
There may be further fees that will apply dependent on your circumstances these include:
Additional Applicant - £75 Any additional applicants above the amount included in the tenancy setup fee. This will be for referencing and processing the application.
Guarantor - £75 You may be required after your referencing has taken place to provide a guarantor for the rent. This is not uncommon and they would also need to be referenced to ensure they have enough earnings to fulfil the rent in the event that you are not able to. This fee is per Guarantor required and covers the cost of referencing and providing a deed of guarantee to be included in the tenancy agreement.
Amendment Fee - £50 If a change is required during the term of the tenancy agreement they may be a charge, these could include alterations to the tenancy agreement due to a change in personal circumstances or with the Landlord's consent a request to leave the tenancy early.
Renewal Fee - £25 A fee will be chargeable upon request to extend the tenancy by another fixed term, the fee will include negotiating with the Landlord and preparing a new tenancy agreement to reflect the new term.
Check-out Fee - We do not charge a fee for check-out at the end of the tenancy as it is included in the tenancy setup fee.
Security Deposit - You will also be required to pay a security deposit prior to occupation this will be 6 Weeks' Rent. In most circumstances this will be lodged with the Deposit Protection Service (DPS). This is dependent upon the Landlord's Terms and Conditions. The deposit amount depends on the rent and the circumstances of the applicants, for example if there are pets.
If paying by Debit Card there will be an additional charge of £1.16. If paying by Credit Card there will be an additonal charge of 1.83% of the total value of the transaction. Business credit cards 2.35% of the transaction.
If you require any further information please don't hesitate to contact us:
Spalding Address: 7 Bridge Street, Spalding, Lincolnshire, PE11 1XA tel: 01775 768785 email: email@example.com
Registered Company Name: Newton Fallowell (Bourne Sales & Lettings) Ltd Registered in England No 08249087 Registered Office 2 North Street, Bourne, Lincolnhsire, PE10 9EA.