Renting a property: what are the fees?
When you rent a house or flat, there are a number of costs involved, most of which are paid before you move in.
On all rental properties you will have to pay:
- Administration and referencing fees
These apply to each adult listed on the tenancy agreement. The fee is £300 (inc. VAT) for the first applicant and £60 (inc. VAT) for each additional applicant.
- Deposit and first term’s rent
The deposit is refundable at the end of your tenancy, subject to a satisfactory inspection of the rental property. If you intend to pay your rent monthly, you will need to pay a month’s rent in advance. If you intend to pay quarterly, you will pay a quarter’s rent in advance. These funds must be cleared three days before you move in.
At the end of your tenancy you will have to pay:
- Check-out fee
This is £90 (inc. VAT) and is usually taken at the start of your tenancy along with your move in monies.
Your deposit will be refunded at the end of your tenancy if there are no rent arrears and the house or flat is left in the same condition as it was when you moved in. Any necessary cleaning, repair or redecorating costs will be taken out of the deposit.
Preston Baker are members of The Property Ombudsman. Currently we do not have client money protection cover. PLEASE NOTE WE ARE NOT A MEMBER OF THE CLIENT MONEY PROTECTION SCHEME.
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