Following the viewing of a property with a member of The Bristol Residential Letting Co. team the applicant is required to pay a non-refundable reservation fee in order to secure the property.
The non refundable reservation fee is equal to 1 Months Rent.
Following payment of the non-refundable reservation fee the property will be taken off the market and held for the applicant subject to ALL application forms being submitted with 24 hours, the applicant proving they have a Right to Rent in the UK, the landlord agreeing to the let and all the applicants references being satisfactory. The only reason a reservation fee would be refunded to the applicant is if the Landlord immediately turned down the applicant or the Landlord subsequently withdrew the property from the market. The Reservation Fee will then be deducted from the initial funds due from the tenant prior to the start of the tenancy.
All tenancies taken through The Bristol Residential Letting Co are subject to an Agency Charge equal to 50% of 1 months rent (minimum £350.00) This charge covers the following; viewings, landlord reference, employment reference, credit check, right to rent check, legal documentation, tenancy administration, tenancy agreement. Any guarantors required will be charged at £50.00 per guarantor.
A deposit equal to 5 weeks rent will be required prior to the commencement of the tenancy. This deposit will then be held in accordance with the tenancy deposit scheme. Further details will be provided on taking a property.
In some instances where the monthly water charge is billed directly to the landlord the landlord will pass this charge on to the tenant through the tenancy agreement at the rate of £20 a month for a studio, £25 a month for a 1 bedroom apartment or £35 a month for 2+ bedrooms.
The tenant will be £30.00 charged for administration fee and any other costs incurred by the
Landlord /Agent if any cheque provide by the Tenant is dishonoured or if any Standing
Orders are withdrawn.
£30.00 charged for arrears administration fee, should a rent payment reach
the Agent, later than the rent due date.
£36.00 charged for a check out of the Inventory at the end or earlier termination of the Tenancy.
£30.00 charged for drafting a new fixed term tenancy agreement, where this has been requested by the tenant.
£30.00 charged for failing to pay last month’s rent and relying on the deposit to cover this payment.
£30.00 charged for returning overpayment of rent.
In some instances a landlord may be happy for one tenant to leave a tenancy and be replaced by a new tenant. In such instances the tenancy must be ended, references successfully passed and a new tenancy entered into. The cost to administer this process, including referencing, deposit registration, new inventories, preparation and execution of tenancy agreements is £360
Should you have any questions about the Deposit, Rent and Fees required by The Bristol Residential Letting Co please don’t hesitate to speak to your negotiator or email Clifton@bristolreslet.com or Southville@bristolreslet.com