Answering all your questions about renting a property…

 

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How much will it cost? - What payments are due, and when do I need to pay them?

Here’s our guide to the charges you may incur when you rent a property through us. All charges include VAT.

Due at the time of application

Application fee:    £264

Each additional applicant:    £180 per applicant

This covers checking your identity, immigration and visa details (required by law), credit checks, obtaining references from current or previous employers and landlords and any other relevant information to confirm affordability.

Other potential application fees

Guarantor application fee: £90

If you’re asked to provide a guarantor, eg if you’re a student or self-employed, we’ll need to carry out a credit check on your guarantor. This fee covers those costs. This is due at time of the application for a property or if requested and needed prior the tenancy starting.

Adding an additional tenant to existing tenancy agreement: £150 (including VAT)

For an existing tenancy, where a new tenant wants to live at the property with the agreement of the landlord, this fee covers checking the additional applicant’s identity, immigration and visa details (required by law), credit checks, obtaining references from current or previous employers and landlords and any other relevant information to assess affordability.

When the tenancy starts

Deposit: One month’s rent plus £100 (one month plus £200 if you have pets at the property)

This covers the cost of any dilapidations or damage sustained during the tenancy. The deposit is held in by a third party (read more about deposits below).

First month’s rent

This must be cleared in full into our Client Account before the day you sign your tenancy agreement.

Subsequent months’ rent

This will be due on the same day each month as you signed your Tenancy Agreement.

If the tenancy is renewed

Tenancy renewal fee: £50

If you choose to renew your tenancy when it comes to an end, this charge covers any re-negotiation of terms, and amending and creating a new tenancy agreement.

Other changes that may be due

Returned Direct Debit or standing order payments: £30

This is an administration charge per refund where a Direct Debit or standing order has not been cancelled. It will usually be deducted from overpaid monies.


What will I be responsible for at the property?

As the tenant you are responsible for the following, and this will be fully detailed in your tenancy agreement.

  • bills for gas, electricity, water and council tax
  • telephone, broadband or cable TV if you want these*
  • repairing any appliances that are not included in the tenancy
  • insuring your own possessions in the property
  • keeping the property clean, tidy and in the condition you found it
  • informing the landlord or Mark Templer Residential about any defects.

*(If these are not already installed, you’ll need the landlord’s permission to install them.)

How do deposit arrangements work?

At the start of your tenancy you will be given a detailed ‘inventory and schedule of condition, complete with photos. The inventory acts as a statement of the property’s contents and condition, allowing us to fairly assess any dilapidations at the end of the tenancy.

We will register your deposit with a government-approved tenancy deposit scheme. This provides an independent arbitration service and protects your deposit.

We will tell you which tenancy deposit scheme your deposit has been lodged with, at the start of the tenancy. This is usually done by us or may be done by your landlord. If this is the case we will notify you. The scheme we use is the DPS.

I will be moving out soon, do I get my deposit back?

When the time comes to leave your rented property, we will send a lettings consultant to carry out the ‘check out’, and to compare the condition of the property and any contents to the inventory we made at the start of the tenancy. We will endeavour to return your deposit within 14 days of the tenancy expiring.

The above can only ever be a simple guide to what is a complex transaction. If you have any questions, of course please contact us
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