Fees applying to all new tenancies from 1st June 2019
We may charge a tenant any or all of the following when required:
- the rent;
- a security deposit with a maximum of 5 weeks rent, or 6 weeks on a property with rent over £50,000 per year;
- a holding deposit of no more than one weeks’ rent;
- default fee for late payment of rent (after 14 days);
- reasonable charges for lost keys or security fobs;
- payments associated with contract variation, at £50 or reasonable costs incurred if higher, when requested by
the tenant;
- payments associated with early termination of the tenancy, when requested by the tenant; and
- payments in respect of bills - utilities, communication services, TV licence, council tax and green deal or
other energy efficiency charges.
Fees applying to all pre-existing tenancies entered before 1st June 2019
We shall continue to apply the charges within the existing tenancy agreement until 31st May 2020.
First Union Estate Agency is part of the Propertymark Client Money Protection scheme.
First Union Estate Agency is also a member of The Property Ombudsman Scheme and subject to its codes of practice and redress scheme.
ADMINISTRATION FEE
Once an offer has been accepted by a Landlord we will require a reservation fee to be paid whilst the reference checks are carried out but would confirm that it does not constitute a contract with either the Landlord or ourselves. This reservation fee is the equivalent of one week’s rent and is non- refundable should you change your mind about the property, or if you do not pass the referencing checks. Should the Landlord decide not to proceed with the tenancy the reservation fee will be refunded. Assuming the tenancy does proceed, an administration fee of £108.00 inc VAT will be offset against the initial move in monies payable.
REFERENCES
First Union use a professional referencing company to assess a potential Tenant. Each individual Tenant will be required to complete an application form providing details of their employment, previous Landlord/s, bank details and next of kin. The charges for us carrying out the reference checks are £54.00 inc VAT per Tenant. One guarantor may also be referenced, if necessary, at no extra cost but any further guarantors will incur an additional reference fee of £54.00 inc VAT. The references may be shown to the Landlord or another interested party acting on their behalf.
DEPOSIT
A deposit equal to six weeks rent will be required and this will be held during the course of the tenancy. First Union are members of the Tenancy Deposit Scheme and further details regarding the running of the scheme can be viewed on their website www.tds.gb.com. If the deposit is not being held by First Union your Landlord will confirm details of the scheme they are using.
INVENTORY CHECK IN AND CHECK OUT
Most Landlords will use a professional inventory company to carry out a check in at the commencement of a tenancy. It is recommended that one of the new Tenants attend the check in as this report will form the basis of your check out at the end of your tenancy. The Landlord is responsible for the cost of the check in and the Tenant is responsible for the cost of the check- out, which the Landlord will usually arrange and deduct the cost from your deposit.
Approximate check- out fees are as follows:
Unfurnished Furnished
One bedroom £ 90.00 £102.00
Two bedroom £102.00 £114.00
Three bedroom £114.00 £132.00
Four bedroom £138.00 £156.00
These prices include VAT at the current rate – currently 20%.
These fees represent an average of the cost of a check out from the companies we frequently use. They are not fixed prices and therefore may be subject to price increases. Heavily furnished properties will have additional charges to reflect the additional time required.
PROFESSIONAL CLEANING
If your property has been professionally cleaned prior to you moving in please do be aware that you will need to employ a cleaning company to carry out a professional clean to the same standard when you vacate the property.
CHANGE OF TENANT
It may be possible to facilitate a change of Tenant during an ongoing tenancy BUT this is not always an option. If your Landlord is in agreement that you may do this we are happy to complete the paperwork. The cost of a change of Tenant is £270.00 including VAT and this fee must be paid before First Union are able to submit references. Please be aware that we usually require a minimum of three weeks to arrange this from when we receive the new Tenants details.
PAYMENTS
All move in monies must be paid to First Union and must be received into our account at least one day prior to the commencement of the tenancy. The funds must be cleared funds and Tenants should be aware that banks generally require three working days for a bank transfer and longer if transferring funds from overseas. We are not able to release keys until all the move in money has been paid and all the Tenants have signed the contract.
Monthly rental payments must be paid by standing order from the second month onwards and only one standing order can be accepted. Therefore, Tenants who share a property will need to set up a house account or organise payments to be made through one Tenants’ bank account. Please do allow three working days for payments to arrive into the payee’s account and it will usually be due on the same day as the commencement of the tenancy.
