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Tenant information & fees on tenancies signed before 1 June 2019

NEA Lettings is a licensed member of ARLA Propertymark who provides us with our Client Money Protection (CMP).

All costs include VAT

HOLDING DEPOSIT: A holding deposit of half a month’s rent will be taken on application in order to reserve the property and remove it from our marketing and property list. This will be taken off the first month’s rent or returned in full if for any reason the Landlord or the Landlord’s Agent withdraws the offer of a tenancy, unless the applicant withheld relevant information or furnished information that was found to be false or misleading or if insufficient references are obtained. The holding deposit will not be returned if tenant decides to withdraw from the application.

TENANCY & SETUP FEE: A charge of £300.00 is due prior to commencement of the tenancy to cover the costs of negotiating the tenancy, preparation of all paperwork and registering the security deposit. This is not a registration charge, neither is it refundable should for any reason your application not proceed.

CREDIT CHECK AND REFERENCING CHARGE: A charge of £50.00 per applicant is due on application as payment for taking references and obtaining a credit report for each applicant. If a guarantor is required an additional charge of £50.00 is to be paid for a credit report and preparing the guarantor agreement.

SECURITY DEPOSIT: The equivalent of one and a half month’s rent is required. Provided there are no disputes over unfair wear and tear, damage or dirt, rent outstanding or unpaid utility bills, the deposit will be returned to the tenant within 28 days of the end of the tenancy. Under no circumstances is the security deposit to be used as part or all of the last month’s rent. Where a pet is to reside in the property, a deposit equivalent to two months’ rent is required. The security deposit will be held by the Tenancy Deposit Scheme.

REFERENCES: An application form for RENT4SURE to carry out a credit report and referencing will have been issued to you with the application pack. Responses are needed from all referees before the commencement of any tenancy. The referencing procedure usually takes between 3-10 working days depending on the time it takes your referees to respond. To help speed this up, please remember to let your referees know that we will be contacting them.

TENANCY AGREEMENT: A tenancy agreement will be drawn up for a minimum period of 12 months. Please note that all tenants named on the tenancy agreement must sign the necessary documentation before the commencement of the tenancy and the release of the keys to the property. The cost for the preparation of this document will be £90.00

RENT: Due one month in advance, bankers draft or cash for the first month only payable to NEA Lettings (personal cheque acceptable if funds clear by commencement date). Subsequent payments to be made by monthly standing order from one bank account. Rent is usually exclusive of council tax, water charges, phone connection and charges and utilities.

INSURANCE: It is a requirement of the tenancy agreement that the tenant shall obtain and maintain a policy of insurance with a reputable insurance company to provide not less than £2,500 of cover for accidental damage to the Landlord’s property, fixtures and fittings and possessions and provide us with a copy of the insurance certificate and policy to evidence your compliance with this condition. Such a policy is available from RENT4SURE who can be contacted on 0333 332 1802. Please quote Agency Number 3801. Alternative quotes are available from other insurance providers.

INVENTORY ADMINISTRATION: The Landlord will provide an inventory at the tenancy commencement. In order for you to agree this document, an appointment will be made at tenancy commencement for you to meet the Inventory Clerk to check the contents of the inventory and agree the document. A charge between £100.00 - £180.00 (depending on the size of the property) will be payable by the tenants to cover the administration. The Landlord will pay for the cost of the check-out at the end of the tenancy.

RENEWAL OF TENANCY AGREEMENT: If you remain in the property beyond the fixed term of the tenancy and an extension to the tenancy agreement is prepared, a cost of £90.00 will become payable.

RETURN OF DEPOSIT ADMINISTRATION: Once the inventory has been checked at the end of the tenancy and any cleaning or charges for damages have been agreed, the deposit will then be finalised. A charge of £50.00 will be made from your deposit to cover the administration.