Fees applying to all new tenancies from 1st June 2019
We may charge a tenant any or all of the following when required:
- the rent;
- a security deposit with a maximum of 5 weeks rent, or 6 weeks on a property with rent over £50,000 per year;
- a holding deposit of no more than one weeks’ rent;
- default fee for late payment of rent (after 14 days);
- reasonable charges for lost keys or security fobs;
- payments associated with contract variation, at £50 or reasonable costs incurred if higher, when requested by the tenant;
- payments associated with early termination of the tenancy, when requested by the tenant; and
- payments in respect of bills - utilities, communication services, TV licence, council tax and green deal or other energy efficiency charges.
Fees applying to all pre-existing tenancies entered before 1st June 2019
We shall continue to apply the charges within the existing tenancy agreement until 31st May 2020.
All potential tenants are put through a rigorous referencing application process. We use a third party referencing company who will check the individual’s credit history and affordability.
Each individual wishing to live in the property must complete our credit assessment process unless they are under the age of 18.
When letting your property there are certain restrictions you can put in place, such as no smokers, pets or children. Some mortgage companies insist that tenants must be of independent means and not receive any form of housing benefit. Our lettings team will fully explain the pros and cons of each type of restriction with you.
Costs & Fees
Once you have decided to rent a property with Burns & Reid you must contact us to make the initial reservation and pay the necessary administration fee, and complete the tenancy application.
Tenants will pay a non-refundable administration/reservation fee of £200.00.
This fee covers all administration involved with the referencing and set up of the new tenancy agreement for two tenants.
Additional tenants and guarantors will be required to pay £50 per additional application.
All tenants aged 18+ living in the property must be reference checked and named on the tenancy.
Before you move into the property you will be required to pay one month's rent in advance, a bond/security deposit which is normally equivalent to one month's rent (this is refunded at the end of your tenancy subject to the condition of the property) and the administration/reservation fee as detailed above.
Please see example below:
Rent - £550 Bond/Security Deposit - £550 Administration Fee - £200 Total - £1,300.00
The above example is based on a property priced at £550 per calendar month with no pets and no additional applicants/tenants.
Your bond/security deposit will be higher if you intend to keep a pet in the property. The charge is an additional £150 which will be classed as a pet bond and will be returned at the end of the tenancy subject to the condition of the property.
Some Landlords will request a higher bond/security deposit and this will also be discussed prior to you reserving the property.
You will pay your rent monthly in advance. The rent will be collected by Direct Debit, or you can set an on-line payment from your bank to ours. If your company is paying for your accommodation we will discuss various payment options directly with them.
If you claim housing benefit we can under certain circumstances accept direct payment from the local authority, please note that not all Landlords will accept housing benefit tenants.
PLEASE NOTE WE DO NOT HAVE THE FACILITIES TO ACCEPT CASH.