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Tenant Fees Schedule

Tenant Fees Schedule

NEW ASSURED SHORTHOLD TENANCIES SIGNED ON OR AFTER 1ST June 2019

Holding Deposit (per tenancy): One week’s rent.

This is to reserve a property. Please Note: This will be withheld if any relevant person (including guarantor/s) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit (per tenancy. Rent under £50,000 per year): Five week’s rent.

This covers damages or defaults on the part of the tenant during the tenancy.

Security Deposit (per tenancy. Rent of £50,000 or over per year): Six week’s rent.

This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent

Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Devices

Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15.00 + VAT per hour for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenants Request)

£50.00 + VAT per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenants Request)

£50.00 per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early Termination (Tenants Request) should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

If you have any questions with regards to our fee’s please contact the office on 01752 812600

LETTINGS PROCEDURE

At Ideal Lettings we are delighted to assist you in finding a new home. We endeavour to make the process as easy as possible.

  • You have viewed a property and have decided you would like to take it.
  • Fill out an application.
  • Wait for the application to be accepted.
  • Pay the appropriate holding deposit to take the property off the market.
  • Provide two forms of identification – Passport or driving license and one proof of address i.e. utility bill.

Referencing Process - You have viewed a property and decided you would like to apply, before proceeding you will need to ensure that you meet the following criteria:

Affordability - To calculate your affordability for the property you have chosen to rent, take the monthly rental amount, multiplied by 12 and then multiply by 2.5 – for example £700.00 pcm rental, multiplied by 12, equates to £8400.00 then multiplied by 2.5, would require an income of £21,000 per annum. Please note a guarantor’s affordability would be 3 times the annual rental and they must have no adverse credit.

Adverse Credit History - County Court Judgements (CCJ), Court Decrees (CCD), Bankruptcies and Individual Voluntary Arrangements (IVA) will affect the outcome of an application.

If a tenant or a guarantor thinks they may have adverse credit, they can check using Noddle, the callcredit tool (found at noddle.co.uk). This is a free service and provides individuals with an accurate reflection of their current financial status.

Van Mildert - Are a reputable tenant referencing agency who carry out a detailed assessment to ensure your suitability to rent the property in which you have applied for. Please follow the link www.vanmildert.net for further information with regards to their referencing process. Van Mildert will courtesy call you to offer you the opportunity to take their contents insurance policy. If you do not wish to receive this information, please contact the office at the time of being referenced.

Right to Rent - For full information on the documents required for identification please visit the website: https://www.gov.uk/check-tenant-right-to-rent-documents/how-to-check

Ideal Lettings Ltd,
1 Fore Street, Torpoint,
Cornwall,
PL11 2AA Telephone Number: 01752812600

IDENTIFICATION

“Right to Rent” has recently been introduced. Two types of identification is required. For full details please visit https://www.gov.uk/government/publications/right-to-rent-document-checks-a-user-guide