What is the First tenant fee?
The administration fee includes the cost of referencing — which will cover Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current and previous employers/landlords and any other relevant information to assess affordability) as well as tenancy negotiation (amending and agreeing terms) and arranging the tenancy the agreement and registering the deposit with the DPS (if applicable).
When do I pay the administration fee?
After a viewing and when you have decided to apply for the property. We will provide you with a Tenancy Fee Declaration form which lists the services we provide and the fees that are payable. You will then be asked for your administration fee.
Any additional fees that may be applicable to you, for example a guarantor fee, will also be collected on the day that you submit your application form. Your rental payment and security deposit payment will become due on the day you sign your tenancy agreement and move in to your new Home. What other fees may be payable before I can move into the property of my choice?
This covers the cost of processing the application and associated paperwork for any additional applicants.
Depending on the outcome from your application from the referencing company, your earnings or overall financial position may require you to provide a Guarantor. This is not uncommon, and means you have someone on your behalf that undergoes credit referencing – to ensure they have sufficient earnings to cover the overall rent commitments in the event that you, as the tenant, are unable to pay your rent. This fee is payable in respect of each Guarantor to cover credit referencing costs and providing a Deed of Guarantee as part of the Tenancy Agreement, which details their obligations as a Guarantor.
This is a person approaching, or over the age of, 18 who will not be permanently residing at the rented property. This only applies in very specific situations and then only with the landlords consent. The administration costs include supplying the relevant documentation that explains in more detail what it means to be a permitted occupier and how this fits in with the tenancy of the property. During the tenancy, we offer these additional services:
May be applicable if a change to the tenancy is required midterm. This may be due to a change in personal circumstances and / or a request to leave the tenancy early is agreed prior to the end of the tenancy agreement (this is subject to Landlord consent).
Future Landlord Reference Fee
Collation information and preparing a reference for a future landlord or letting agent .
Tenancy Copy Fee
This is applicable should you require an additional copy of the tenancy agreement.
Please note that a higher deposit may be required where it is agreed that pets can be included in the tenancy. The inclusion of any pets is subject to the landlord’s consent.
Allen Davies are members of The Property Ombudsman, NALS Client Money Protection Scheme & the Deposit Protection Service (DPS)