Prospective tenants interested in renting a property through Goldschmidt & Howland will need to be aware of the following pre-tenancy costs that may be due prior to the commencement of a tenancy. Please further note that in some situations properties may be advertised on behalf of another letting agency or managing agent, in which case the following fees and charges may vary and prospective tenants will be advised of any such variation in fees and charges on the specific enquiry of such a property
BEFORE YOU MOVE IN...
Reservation Fee - Equivalent to two weeks rental - these funds are deductible from the first month's rental should the tenancy proceed.
Please note that should the tenant withdraw their application to rent the property at any time, through no fault of the landlord, or the tenant fails the referencing process, or fails to provide the required information in accordance with the referencing criteria provided, or it is established that the tenant or any of their dependents do not have the right to rent in the UK, the tenant will be required to compensate the landlord and Goldschmidt & Howland by paying up to the full amount of the Reservation Fee the reasonable costs incurred in preparing the property for the tenancy or complying with any of the special conditions as requested by the tenant. If the property is withdrawn from the market the tenant will also be required to compensate the landlord for an amount equal to the rent for the period that the property is withdrawn from the market.
Tenancy Agreement Fee
£180.00 (inc VAT) per tenancy. Preparation and drawing up of the Tenancy Agreement.
Please note that both the Tenancy Agreement Fee and Reference Fee are non-refundable should the tenancy be aborted through no fault of the landlord, this may include (but not limited to) the tenants decision to withdraw from the tenancy prior to the signing of the tenancy agreement, if the tenant or guarantor fails the referencing process or it is established that the tenant or any of their dependents do not have the right to rent in the UK.
£48.00 (inc VAT) per Tenant /Guarantor (£84.00 inc VAT per Tenant if a Company). Referencing checks include a financial credit check, current employer & previous landlord check and any other information to assess affordability.
Equivalent to 6 weeks rental. This will be protected in a Government authorised scheme (if applicable) and may be returned at the end of the tenancy.
In addition to the Security Deposit, a further 2 weeks rental will be required to cover the added risk of property damage. This will be protected with the Security Deposit in a Government authorised scheme (if applicable) and may be returned at the end of your tenancy.
DURING YOUR TENANCY...
Amendment/Change of Tenant Fee
£500.00 (inc VAT) Contract negotiation, amending terms and updating your tenancy agreement during the tenancy. Each new tenant will be subject to our referencing procedure and be liable for the Reference Fee of £48.00 (inc VAT) per tenant of guarantor.
Renewal Fee (tenant's share)
£84.00 (inc VAT) Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
ENDING YOUR TENANCY...
Check out Fee (tenant's share)
Attending the property to undertake an updated Schedule of Condition based on the original inventory. This cost is dependent on the size of the property, furnishings and inventory company available, please see below the range of check-out costs for your information (all prices are inclusive of VAT):
Studio £78 - £144 1 Bed £102 - £144 2 Bed £108 - £156 3 Bed £120 - £192 4 bed £138 - £258 5 Bed + £180 - £288
Unless funds for the payment of the check-out are received in advance, this cost will be deducted from the Security Deposit at the end of the tenancy, on receipt of the invoice.
Early Termination Fee - Should you agree with the landlord to terminate your tenancy before you are permitted to do so under the terms of your tenancy agreement, you will be responsible for the repayment of the pro-rata letting or renewal fee paid in advance by the landlord for the period of the tenancy agreed up until it could lawfully be ended by the tenant, plus any additional reasonable costs incurred by the landlord in the re-letting of the property. Any early termination of the tenancy is strictly subject to the landlords written consent.
OTHER FEES AND CHARGES...
Unpaid Rent / Returned Payments - Interest at 4% above Bank of England Base Rate from date due.
If you have any questions on our fees, please ask a member of the Lettings Team.