Residential Tenant Fees & Charges
Residential Tenant Fees
We may find a property for you within a matter of days, so you need to understand the rental process before you start looking.
To protect both tenant and landlord rights you will have to go through a series of checks, referencing and sign tenancy agreements. We always want you to rent through us, so we don’t just organise viewings; we help you at every stage of the complex rental process, including making and agreeing an offer.
You will have been given our applicant guide when you came to your first viewing, as soon as you make an offer, we’ll send you our detailed tenant guide so you understand the whole rental journey.
- Your rental payment
- Your chosen letting agents’ costs
- The bills you have to pay on top of the rent
- The deposit which is usually the equivalent of between 6 to 8 weeks rent
We’ve detailed everything below to give you an idea of what to expect.
FULL BREAKDOWN OF TENANT FEES BELOW
(Inclusive of VAT)
Fees for drawing up and the tenancy agreement
|£200 per tenancy|
Inventory / Check in / Check out:
Dependent on the size and level of furnishings
|£72 - £216|
Landlord referencing fee:
Right to rent charge:
Change of tenant fee
Renewal tenancy agreement:
Late or unpaid rent charge
Lost keys fee:
Dependent on the type of lock for the property
|£50 - £300|
Aborted call-out charges:
For Fraser & Co managed properties
This charge covers the cost of preliminary paperwork, including preparation of the tenancy agreement. It is payable in full prior to negotiations commencing with our client and is charged on a per property basis – not per person. In the event that negotiations are unsuccessful and your offer is not accepted by our client it will be refunded in full.
This charge is payable by each person or company named as tenant on the final tenancy agreement to cover the cost of referencing. Referencing is carried out by an independent referencing agency including establishing the right to rent in the UK. The charge will not be refunded if negotiations are unsuccessful and references have been undertaken. The price varies on the time need for the rereferring. Please see below the breakdown:
- 1 Hour = £100.00
- 24 Hour = £75.00
- 48 Hour = £50.00
Deposit - Equivalent to 6 weeks rent - amount will vary according to rental amount
The deposit is held to protect your landlord from you not meeting your obligations under the terms of the tenancy. Whilst you should check the tenancy agreement for details specific to your tenancy, it will be held in a government-backed Tenancy Deposit Protection Scheme (TDP). This means that no deductions can be made until you and the landlord have reached an agreement or there is a judgement by the courts or a TDP scheme.
Inventory Check / Check In / Check Out
This charge relates to an independent inventory clerk meeting you at the property to establish its condition. You will usually be responsible for the cost of checking the inventory at the beginning of your tenancy and your landlord at the end (please refer to the Agreement for confirmation). Inventory checks are to your mutual benefit as they are used to establish if your deposit can be returned in full or whether a claim against it needs to be made. The actual cost of the check is dependant of the size of property and the clerk instructed. We will give you a price applicable to the property you wish to rent in good time.
Right to Rent Charge
This charge is payable for everyone aged 18 years or over living at the property who is not a named tenant. It is not in addition to the Referencing Charge for named tenants outlined above. It covers the cost of us establishing the individual’s right to rent in the UK which includes checks on document authenticity by an independent agency. The charge will not be refunded if negotiations are unsuccessful and the check has been undertaken.
Change of Tenant Fee
This charge applies when you wish to replace a named tenant with another tenant part way through your tenancy and your landlord has agreed to the change. It includes preparing all the documentation relating to the change including an amended tenancy agreement. Payment of this charge does not constitute the granting of a tenancy. Please note that the replacement tenant will be charged separately for referencing in the sum of £120 Inc. VAT each.
Renewal Tenancy Agreement Charge
This charge covers the cost of preparing a more extensive renewal document where substantial changes to the terms of any renewal are required.
Late or Unpaid Rent Charge
This charge is payable on each occasion that an individual rental instalment is overdue by five working days
Lost Keys Fee
This charge will variety property to property due to the lock / key itself. Some of our properties in question have extremely expensive locks and key fobs whereas others will have less expensive locks.
Abortive call-out Charges
This is only available to Fraser & Co Managed properties. This price can vary as it will depend on the issue in subject.
Stamp Duty Land Tax
This tax is payable on tenancies where the rent exceeds £125,000. Please contact HMRC for further information.
For more information regarding the lettings process, please visit the Lettings Advice for Tenants page.
Independent redress provided by TPO. Client money protection provided by NALS.