Here you will find all of the information you need to know about the fees which we charge and what they are for when you are looking to rent a property through Ashtons Lettings.
Equivalent to one week of monthly rental amount
What is a holding fee?
The holding fee is to hold the property whilst relevant checks are undertaken. The amount is then deducted from the first months rent upon a successful application. The holding fee will be refunded in full, should a tenancy agreement not be signed within 15 days of receipt of monies; unless an applicant confirms in writing that Ashtons can have an extension on this time frame. Should the tenancy not proceed either by the applicant providing incorrect or misleading information then the holding fee is non- refundable. The holding fee is also non-refundable if the applicant chooses to no longer proceed with the property.
Capped at no more than five weeks’ rent where the annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above.
A refundable holding deposit can be taken in order to reserve a property. This is capped at no more than one week’s rent.
The tenant is responsible for the payment of utilities, communication services, TV licence and council tax.
Interest of 3% above the Bank of England’s base rate will be payable on any rent which is more than 14 days overdue. The interest will be payable from the date on which the rent fell due until the date it is paid.
The tenant will be liable for the reasonable costs for replacing any lost key(s) or security device(s). Where it isn’t possible for a key to be cut, the tenant will be liable for the cost to have the locks changed; this includes the cost of the locksmith, new lock and keys cut for the tenant, landlords and any other persons requiring keys.
Capped at £50 inclusive of VAT. This covers the costs of negotiating the changes and preparation of new legal documents. The charge is due per agreed variation. Evidence to support any further costs will be provided.
If you decide to move forward with a property there are several checks which will need to be undertaken and passed in order for you to be accepted for a tenancy and get the keys to your new home. As part of our application process we require identification documents including: photographic ID, three month’s pay slips and three month’s bank statements. We will also complete the following checks: credit checks, Landlord or accommodation references, and Employer or Accountant references.
Prior to signing your tenancy agreement, you will be required to pay your security deposit. Once the deposit has been received, we will be able to proceed with signing the tenancy agreement. After the agreement has been signed by all parties, you will be provided with details of where to pay your rent. This is usually arranged a few days before your move-in date, allowing sufficient time for the funds to clear before key collection. You will also need to set up a standing order for your monthly rent from month two which will take the money from your account and process through to either the Landlord or ourselves. If you know that your rent is going to be late ensure you inform us before it falls due.
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