Tenant Fees post 1st June 2019 (please see below)
In addition to paying the rent, you may also be required to make the following payments permitted under the Tenant Fees Act 2019.
Before the tenancy starts (payable to Newton Fallowell Melton Mowbray ‘the Agent’)
Holding Deposit: 1 week’s rent
Deposit: 5 week’s rent
During the tenancy (payable to the Agent)
Payment of interest for the late payment of rent at a rate of 3% above the Bank of England Base Rate.
During the tenancy if permitted and applicable
Utilities – gas, electricity, water and sewerage
Communications – telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Other permitted payments
Any other permitted payments, not included above, for breaches of contract or under the relevant legislation including contractual damages. These may include reasonable costs or losses incurred for loss of keys, security devices and changes to the tenancy agreement or early termination, if the Landlord agrees they can be made, up to the permitted limits.
Newton Fallowell Melton Mowbray is a member of SafeAgent which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on our website or by contacting us directly.
Tenant Fees for pre 1st June 2019 Tenancies
Explanation of our tenant fees permitted under the Tenant Fees Act 2019 transitional provisions, where fees are written into existing tenancy agreements. These apply to all tenancy agreements granted or signed and executed before 31st May 2019, and can be charged up until 31st May 2020
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 The Property Ombudsman (Independent Redress Scheme) and NALS and are covered by NALS Client Money Protection (CMP).
Referencing Fee - The referencing fee includes referencing, this will include a credit check, employer reference and current or previous Landlords reference if applicable.
Referencing Fee rent below £650 - £250 for up to 2 applicants
Referencing Fee rent above £649 - £300 for up to 2 applicants
Tenancy Setup Fee - £120 per property. A one off fee for the tenancy agreement preparatrion and inventory. The fee will also include preparing a tenancy agreement, the inventory, the check-in and the transfer of all the utilities. *The balance of fee’s becomes payable prior to occupation of the property.
There may be further fees that will apply dependent on your circumstances these include:
Additional Applicant - £50 Any additional applicants above the amount included in the tenancy setup fee. This will be for referencing and processing the application.
Guarantor - £50 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.
Mid Tenancy Re-referencing - £50
Refund of overpayment - £10
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.
Renewal Fee - Included
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.
If paying by Debit Card there will be an additional charge of 1%. If paying by Credit Card there will be an additional charge of 3% of the total value of the transaction.
Security Deposit - You will also be required to pay a security deposit prior to occupation this will be one Month's Rent Plus £100, 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. A higher deposit will be requried if there are pets.
If you require any further information please don't hesitate to contact us:
Syston Address: 1250 Melton Road, Syston, Leicestershire, LE7 2HB tel: 0116 344 0110 email: firstname.lastname@example.org
Registered Company Name: SH & CS (Syston) Limited Registered No 9127976 Registered Office The Point, granite Way, Mountsorrel, Leicestershire LE12 7TZ.