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When letting a new property, the asking rent will not include the letting fees associated with starting a new tenancy. Please see below to find out the tenancy fees associated with renting your new property.
For the property to be taken off the market, a holding deposit of one month’s rent plus an additional £100.00 must be paid. In addition to the holding deposit the following fees are payable:
Prior to the commencement of a tenancy, in addition to the holding deposit previously paid, the first month’s rent and an admin fee equivalent to 30% of a months rent for the first applicant and £90.00 for additional tenants or guarantors, or in the case of a three month tenancy 45% must be paid in cleared funds. Cleared funds are either a debit card or cash.
If an applicant/s fails a credit search and the tenancy does not proceed, a fee of £30.00 per failed applicant will be deducted from the holding deposit.
If a tenant decides to withdraw from the tenancy, a cancellation fee of £90.00 will be deducted from the holding deposit, together with the equivalent of the daily rent (from the date the holding deposit was paid) which will be calculated and deducted from the holding deposit for each day the property has been off the market.
Where the landlord allows a pet at the property an additional deposit of £100 per pet will become payable.