FEES TO TENANTS

THERE ARE NO UP-FRONT REFERENCING FEES PAYABLE TO REDFERNS.

OTHER PERMITTED COSTS LEGALLY ALLOWED:

HOLDING DEPOSIT – EQUIVALENT TO APPROXIMATELY 1 WEEK’S RENT

This deposit will be held until a tenancy agreement is signed unless other arrangements have been made. If the tenant or any other relevant persons withdraws from the agreement, or gives false or misleading information, the deposit will be forfeited. If the tenant does not abide by the agreement deadline the holding deposit will be forfeited. If the agent or landlord withdraws from the agreement the holding deposit will be refunded to the tenant.

TENANCY DEPOSIT

Unless otherwise agreed, a tenant will pay a deposit no more than the equivalent of 5 weeks rent before the commencement of the tenancy. Deposits are protected under the Deposit Protection Service for the duration of the tenancy.

VARIATION OF CONTRACT CHARGE - £50.00 (INCLUSIVE OF VAT) PER PROPERTY

A variation of contract charge of £50.00 inclusive of VAT is payable if the tenant requires a change to the existing tenancy agreement. This may be for adding an additional tenant or adding a pet to the agreement or creating a new fixed term agreement, should the landlord agree to the changes. 

UNPAID RENT                                                

Interest at 3% above Bank of England Base Rate from date due.

LOSS OF A KEY OR OTHER SECURITY DEVICE

Landlords and letting agents can charge a tenant a fee to cover the cost of replacing the lost key or security device, i.e. fob or electronic device for garage doors/security gates.

RENT RETURNS                    

Should the tenant not cancel the standing order at the end of the tenancy, and we have to refund any overpaid rent, then we reserve the right to charge £10.00 plus VAT for returning any overpaid rent unless specifically agreed by Redferns.

BREAKING FIXED TERM AGREEMENT

We would require all tenants who wish to end their tenancy early to cover the landlord’s costs. Early termination will result in covering all costs which would have been incurred by the landlord, i.e. the loss of rent, costs for re-marketing and referencing etc. The tenant will be liable for the full rent until a new tenant has been introduced and a replacement tenancy has started. These costs are as follows: 14.4% of the value of 6 months’ rent inclusive of VAT at the current rate (12% plus VAT). For example, if the monthly rental amount is £800.00, you will pay a fee of £691.20 inclusive of VAT. There will be a charge for the referencing of new tenants, the charge is £12.99 plus VAT (£15.59 inclusive of VAT).