Tenant's Costs and Charges
Searching the market and finding a property that suits your needs is a free service, but once we have found a home for you to rent, the following charges are applicable:
A reservation fee of 1-2 weeks rent which will be offset against the initial rental payment should the offer be accepted. Should the applicant withdrew from the transaction, the fee or part of it may be retained in respect of administration charges or loss of rental income. Should the Landlord decide not to proceed with the tenancy, then the fee will be refunded to the applicant in full.
A security deposit, usually equivalent to 6 weeks rent, to be collected and held during the tenancy against unpaid rent or bills, dilapidations and any other costs or losses incurred as a result of any breach of the terms of the Tenancy Agreement. An additional deposit of up to 2 weeks rent may be required if you own a pet. Stella Lange LLP is a member of the Tenancy Deposit Scheme. Any interest earned on the deposit shall be retained by the Landlord, or the Agent, and used to cover administration costs.
Set up fee
These costs are per tenancy and are inclusive of referencing up to 2 tenants and negotiating and preparing an agreement:
1 year Tenancy £222
2 years Tenancy £240
3 years Tenancy £258
Extension and renewal £108
Change of Tenant £120
Additional reference checks per tenant £20
The first payment of rent in advance, equivalent to a calendar month* or as per negotiated, ie quarterly or 6 monthly. Overdue rent or returned rent is subject to a charge of 3% above the Bank of England Base Rate from the rent due date.
The Tenant pays for the cost of the check in of the inventory and the Landlord pays for the cost of the check out. Scale of Charges:
|Apartments||Studio||1 Bed||2 Bed/ 1 Bath||2 Bed/ 2 Bath||3 Bed/ 1 Bath||3 Bed/ 2 Bath||4 Bed/ 2 Bath|
|Houses||2 Bed/ 1 Bath||2 Bed/ 2 Bath||3 Bed/ 1 Bath||3 Bed/ 2 Bath||4 Bed/ 2 Bath|
The above charges are approximate according to size and inventory clerk and subject to change and additional rooms may be charged for.Other bills over and above the rent will be explained for each individual property by one of our lettings experts.
All the above prices are inclusive of VAT at the prevailing rate.
*Monthly rent is calculated using the following formula: Agreed weekly rent x 52 weeks ÷ 12 months
eg. £500 x 52 = £26,000 ÷ 12 = £2,166.67