Fees and Charges for Tenants. Independent redress provided by: The Property Obudsman. Client Money Protection (CMP) provided by: ARLA
Once you have expressed an interest in renting a property for which we are letting agents. The page below summarises the procedures we will follow, what payments will be due from you and when, under what circumstances any refunds will be made, and the arrangements for getting you installed as tenants.
1. We will ask you about your personal circumstances, why you want to rent the particular property and for how long, etc. We will pass this information on to the Landlords and get a decision in principle. If the landlord provisionally agrees to let to you we will progress through the next stages.
2. We will take up references. We normally use an agency for this. You will need to complete their forms and pay the costs. They are calculated according to the following scale:
Once the referencing forms are submitted these costs are normally NON-REFUNDABLE. The only time they may be is when references prove satisfactory but for some reason the Landlord withdraws.
On rare occasions an agency service may not be suitable. In this situation we will take up the references ourselves. We usually require a personal, bank, employers' and previous landlords' reference and by signing this you give us permission to obtain any of the required reference. The same scale of charges will apply. Again once we have commenced the process the costs are NOT REFUNDABLE.
PLEASE NOTE, if the references reveal matters you have not disclosed or contradict what you have said, then you will probably be rejected as tenants and the costs not be refunded.
3. Assuming the references are satisfactory, we will finalise the proposed tenancy terms with you and provide a statement of monies due. Monies due will normally be:
i. Holding Deposit. This will usually be equal to 1½ (one and half) months' rent, or 2 (two) months' rent if it has been agreed you can keep pets at the property.
Paying the holding deposit does not create a tenancy agreement. However, paying it means the Landlord will take the property of the market for a period of at least 7 days whilst you get the other monies together, and we get the agreement and inventory prepared. However, IF YOU WITHDRAW FROM THE TENANCY THE HOLDING DEPOSIT IS NON-REFUNDABLE, which means it will normally be retained in full and paid over to the landlord as compensation.
ii. An inventory check off charge. All inventories are prepared and checked by an independent inventory clerk. The landlord pays for the inventory and to 'check you in'. You pay for the 'check out' when you sign the initial tenancy agreement. The scale of charges is:
4. Signing Up. When we have prepared the tenancy agreement we will arrange an appointment with you to go through the tenancy agreement. Once this appointment date has been arranged, it can only be changed if you pay an administration fee of £114 (inc. VAT) to cover the costs of changing the paperwork. If you have not already paid the inventory fee and rent you can bring the payment with you to that meeting. You sign the tenancy agreement and we sign on behalf of the Landlord. Only when all payments have been made and the agreements have been signed is there a binding tenancy agreement between Landlord and Tenant. Then your 'holding deposit' becomes a 'tenancy deposit' and we register it with the Tenants Deposit Scheme.
5. Moving in. We will arrange a meeting with the inventory clerk to check you into the property and hand over keys. If events have been moving quickly, as they often do, payment of the monies, the sign up and then this check in may all happen within a day or so, perhaps even the same day.
Rent: Will be due in advance and paid by bank standing order. If the rent is not paid on time in line with your tenancy agreement then a charge of £30 (inc.VAT) will be made for every month that it is late.
Renewal Fees: At the end of the fixed term agreement there is an administration charge of £60 (inc. VAT) for the renewal of your tenancy.
Tenancy Referencing: If at any stage you require a reference regarding your tenancy with Satchells then there will be a charge of £30 (inc. VAT).
Established in 1922, we have been trading for more than 90 years and pride ourselves in offering friendly advice and delivering a high level of customer service.
As an established estate agent, we have developed our marketing and advertising techniques to ensure maximum exposure of your property and thereby secure a buyer or tenant.