Tenant Fees

TENANTS STANDARD SCHEDULE OF CHARGES
(All charges are inclusive of VAT)

 

Holding Deposit – 2 weeks rent

Prior to accepting and submitting your offer and securing your deal, the Tenant will be required to pay a holding deposit equivalent to two week’s rent. This amount will be deducted from the first month’s rental payment. Terms of the return of this deposit can be found on your Holding Deposit receipt.

References (Individual Lets) – £84.00 inc VAT

inc VAT per person References will be undertaken on all Tenants and guarantors via an independent referencing agent. This is to include the completion of the initial application, submission of the same and dealing with all enquiries raised from the application and the obtaining of any additional information or documentation required to satisfy the conditions of the report.

References (Company Lets) – £84.00 inc VAT

The Landlord reserves the right to obtain references for a company let.

Administration fee (tenants share) – £228.00 inc VAT      Renewals (tenants share) – £108.00 inc VAT

This fee is payable by the Tenant to cover the administration costs involved in processing the Tenancy including, but not limited to; obtaining relevant Identification and Proof of Residency documentation, production and setting up of Standing Order Mandates and the registering of tenants deposits, production of tenant welcome packs to include information on utility providers. A discounted rate will be payable on any renewal or extension.

Contract fee (tenants share) – £156.00 inc VAT

This fee is payable by the Tenant to cover the administration and costs of the preparation of the Tenancy Agreement including initial draft, agreement of terms, obtaining of signatures, execution of final agreement and the provision of a copy to all parties.

Security Deposit – 6 weeks rent

A security deposit of six weeks rent will be required for all tenancies, payable in advance.

Late rental payments per tenant – £120.00 inc VAT

Where AW Childs are responsible for collection of the rental payments and/or management of the property, late rental payments will incur a fee as above to cover the costs of recovering payment. This charge is in addition to any interest or costs payable to the Landlord under the terms of the tenancy agreement.

Check Out fee – £180.00 inc VAT

The Tenant is responsible for paying the Check-out fee for checking the inventory at the end of the Tenancy. Where we are responsible for the management of the property, this sum will be taken before the Tenancy starts and held for this purpose. In other cases the deposit will usually be deducted from the security deposit and the costs may differ to those above. The cost will vary according to the size of the property.

Please note before a tenant can move into a property, cleared funds must be received to cover:

Referencing & Tenancy Agreement Fees

First Month’s Rent (Less Holding Deposit)

Security Deposit

Check-out Fee – if required

The balance payable can be found on the deal sheet provided when the holding deposit is paid to secure your deal.

The following payment methods are accepted:

BACS transfer to “AW Childs Clients Account” – this is the preferred option (Bank details will be provided on request)

Bankers Draft payable to “AW Childs Ltd.”

Cash * * Please note there will be a cash handling fee for any cash payments received as follows: for any cash payments up to and including £2,500 there will be a charge of £50 including VAT, for any cash payments above £2,500 there will be a cash handling fee of £100 including VAT.

Early release from tenancy

Should you wish for consideration to be given by your landlord for an early release from your tenancy which opposes the terms as set out in this document and the subsequent Tenancy Agreement which will be produced there will be liabilities as tenant which you are responsible for. Should your landlord agree to your early release from your tenancy agreement there will be financial implications to them. As such you would be required to cover the cost of these accordingly. The items you should consider before continuing with your request would be as follows:-

You would be required to cover the rent of any days for which the property remains vacant from your vacation date to the date of the new tenant taking up occupancy. To calculate the daily rent for this period, simply divide the weekly rent by seven.

The landlord will have made payment of commission for the full period of your tenancy agreement which is non-refundable. You would be required to reimburse any commission paid for a period where you would no longer be occupying the property based from the date which you vacate the property to the date which your fixed term tenancy agreement is due to expire or the break clause takes effect whichever is the sooner. This can only be calculated accurately once dates have been agreed.

Should it not be possible for an equal or greater rent to be obtained when re-letting the property you would be required to cover any difference between your weekly rent and the newly obtained weekly rent. This applies to the period from the date you vacate the property to the date which your fixed term tenancy agreement is to expire or the break clause takes effect whichever is the sooner. For example, should the rent obtained for the new tenancy be £10.00 per week less than your current rent and there are twelve weeks left of your fixed term agreement you would be liable for a total payment of £10.00 x 12 (£120.00) to cover the financial losses of your landlord for this period.

Tenants guide to renting

AW Childs prides itself in providing a professional and efficient service for our tenants. To help you understand the letting process of a property, the information below will help you through the process from finding your property to moving in.

Finding a rental property

Whatever your rental needs, when you contact AW Childs you can be assured of friendly and professional advice. We will discuss your requirements with you, and arrange to view properties that suit your needs.

Securing your property

Before we can accept and submit your offer and secure your property, a non-refundable Holding Deposit is required equivalent to two week’s rent. This will be deducted from your first month’s rent prior to you moving in. Additionally you will also be required to pay the fees for credit referencing at this stage. Until we have received these monies, we will continue showing prospective tenants around the property. Once the monies and signed Holding Deposit form have been received, it is at that point we will stop marketing of the property.

Should you withdraw from the transaction after this point or your references come back as being unacceptable, your Holding Deposit and referencing fees will not be refunded.

Negotiation

Once you have found a property that you would like to rent, you will be required to provide proof of your Identity and residency. Once completed, we will discuss and negotiate terms with the Landlord. All tenancies are subject to a minimum of 6 months and rent is payable per calendar month in advance.

When the terms have been agreed for your chosen property, you will be required to complete a Tenancy Application Form and proof of income and pay a fee to cover the setting up of a tenancy.

References

References will be taken on all Tenants. We will use a credit reference agency and will need certain personal and employment details. The Tenant will be responsible for the cost of referencing as detailed in the Tenants Standard Schedule of Charges. In certain cases, references for a UK guarantor may be required at an additional cost payable by the Tenant. In the case of Company Lets the Landlord reserves the right to obtain references.

Tenancy agreement

When satisfactory references have been obtained, we will prepare a Tenancy Agreement between the Landlord and Tenant. This must be signed by both parties prior to commencement of the Tenancy.

Before you move in

Before you can move into a property, you must pay one calendar month’s rent in advance and a security deposit equivalent to six weeks rent. Please note, keys will only be given to you once funds have cleared. The deposit will be returned after completion of the Check-out at the end of the Tenancy, subject to the condition of the property and payment of all utility accounts. The deposit will be logged with an approved Deposit Scheme against any damage or outstanding monies accrued during your tenancy. (Full details will appear in the Tenancy Agreement). The deposit will be refunded to the tenant with the Landlord’s written agreement and once proof of full and final payments of all utility bills and council tax have been shown.

The commencement of your tenancy

Once all monies have been received in cleared funds, an appointment will be arranged with our lettings department for all tenants and guarantors to call in to our offices to sign the documentation. There will usually be a Check-in inspection of the property with an inventory clerk before you move in to record the condition and contents of the property at commencement of the term. As a Tenant, you will be responsible for paying all utilities, i.e. Gas, Electricity, Water, Council Tax, Telephone and TV Licence charges. Therefore, you must register with the relevant companies.

Rental payments

We will arrange a standing order mandate for your rental payments, however it is the tenant’s responsibility to check that payments have been set up correctly as the bank will not discuss your account with a third party. Please note that where AW Childs are responsible for the management of the property and/or the collection of the rent, late rental payments will incur a charge as detailed in the attached schedule to cover the additional costs involved in rectifying the situation. At the end of the tenancy it is the tenant’s responsibility to cancel the standing order and AW Childs take no responsibility for additional payments made from the tenants account.

Moving out

There will usually be a Check-out inspection of the property with an inventory clerk when you move out to record the condition and contents of the property at the end of the term. This will determine the amount of the deposit to be returned after vacation. The charges for the check-out are payable by the Tenant and if AW Childs are responsible for the management of the property the charges will be taken at the start of the tenancy. Tenants are responsible for cleaning the property at the end of the tenancy, if the check-out report stipulates that further cleaning is required, AW Childs or the Landlord may instruct a cleaning company, all charges incurred are payable by the tenant.

Renewals

If you wish to stay on in your rental property after the end of your initial tenancy, we will be happy to arrange a renewal for you, subject to the Landlord’s agreement. We will prepare a new Tenancy Agreement for you and the cost to cover the administration involved in processing the renewal will be discounted as detailed in the attached schedule of charges.

Company lets

For a tenancy where the rent is paid by a Company, please note this will not be an Assured Shorthold Tenancy Agreement but a Common Law Tenancy Agreement. As a result the Tenancy Agreement will need to be signed by an authorised company signatory (usually a Director).

Redress scheme and client money protection

This agency is a member of a redress scheme and that scheme is The Property Redress Scheme (www.theprs.co.uk)

This agency is not a member of a client money protection scheme.