Williams Lynch

Tenant's Fees

Fees Information for Tenants

Fee payable to Agent Payable by
Permitted Payment – Loss of keys, security device £15.00 inclusive of VAT (plus Cost of keys/security device) Tenant
Permitted Payment– Early Termination/Surrender £50.00 inclusive of VAT plus Landlord’s cost to re-let plus the landlord’s re-let fee plus any additional reasonable costs and rent up to and including the date the tenant is released. Tenant
Permitted Payment – Change of Sharer (Managed properties) £50.00 inclusive of VAT Tenant
Permitted Payment – Variation or Novation of Contract £50.00 inclusive of VAT Tenant
Fees for Common Law Agreements – Company Lets, High Rent Agreements £252.00 inclusive of VAT Applicant
Rent Arrears The Tenant shall pay to the Landlord interest at the rate of 3% per annum above the Bank Of England base rate, from time to time on any rent remaining unpaid for more than fourteen (14) days after the day on which the rent became payable. Tenant

Please be assured that as a member of The Property Ombudsman scheme (TPO) covering both Sales and Lettings we fully adhere to the TPO’s code of practice. It is a government approved redress scheme and by being a member our clients and customers are afforded greater protection than offered by UK Property law alone.

Our membership of the Association of Residential Letting Agents (ARLA) is regulated and we comply with the association’s rules and guidelines.

Furthermore, our membership a The Client Money Protection scheme (CMP) offers protection for our client’s monies against the extremely unlikely event of theft or misappropriation.

Williams Lynch are members of the following:

  • CMP – Client Money Protection www.clientmoneyprotect.co.uk
  • ARLA Propertymark www.arla.co.uk
  • TPO – The Property Ombudsman redress scheme. www.tpos.co.uk
  • TSI Approved

Letting fees information – For tenancies entered into from 1st June 2019

When renting a property through Williams Lynch the following charges will apply:

To secure a property

Once you have chosen a Property a Holding Deposit, equal to one week’s rent, is required. This enables us to hold the property for you and cease marketing, subject to contract and satisfactory references. This payment is non-refundable on the following grounds should you;

  • Decide not to proceed before the tenancy agreement is signed.
  • Fail the Right to Rent check.
  • Provide false or misleading information in your application.
  • Failure to provide correct and certified information within 15 days in order for your references to conclude and your tenancy agreement to be drafted.

Inventory

It is standard practice for an Inventory and schedule of condition report to be prepared pre-tenancy by an independent inventory company and again at the end of your tenancy, once you have vacated the property at an agreed date. Your landlord will pay for this service, if our agency is instructed to provide an inventory. You will receive a copy of the inventory within approximately 4-5 days following the start of the tenancy, and you will be required to review the report and return it signed, within 7 days, confirming it’s content. At the end of your tenancy you will also see a copy of the report and discuss any deductions applicable to damage either directly with your landlord or via our property management team, if we manage the property.

References

We use a specialised independent agency to collect references on our behalf and you will be required to complete an application form. Your landlord will pay for this service. It is important to understand that in order to qualify for the financial aspect of your reference, you must be able to substantiate a gross income (pre-tax) of at least 2.5 x the monthly rent, in order to meet the reference agency requirements.

Tenancy Agreement

An ARLA tenancy agreement will be provided which we require all parties to sign via Docusign, ahead of taking up occupancy for which we do not charge a fee. Please note the above Holding Deposit (equivalent to one week’s rent) will be required to reserve a property and the agreement is subject to suitable references and contract.

Deposit

You will be required to pay a five week security deposit equivalent to five weeks rent, before taking occupancy and this will be collected one week ahead of your scheduled move date, so that we have cleared funds. The deposit will be registered to an approved scheme, usually the DPS. A six week security deposit will be required if the annual rent exceeds £50,000.

Rent in Advance pre-tenancy

We require you to pay the balance of the first month’s rent before taking occupancy (or unless otherwise pre-agreed a higher amount). The balance is determined by the remaining amount of the first month’s rent, less the amount you have paid to secure the property. This will be collected one week ahead of your scheduled move date along with your five week deposit.

Change of Occupant (Managed properties)

In order to change an occupant to an existing tenancy at the landlords full discretion, a fee of £50 Inclusive of VAT at the prevailing rate per applicant will be required for administration in preparing a Deed of Assignment which must be signed at our office in hard copy by all parties, referencing and performing the Right to Rent checks pre-tenancy, along with re-registration of the deposit into the correct names of the tenancy. Payment of this charge does not constitute the granting of a tenancy and is non-refundable.

Variation of Contract

A fee of £50.00 Inc VAT at the prevailing rate is payable to cover the costs associated with taking Landlord’s instructions as well as the preparation and execution of new legal documentation.

End of Tenancy

At the end of your tenancy you are required to return the property in the same cleaned condition as noted in your inventory, compiled at the commencement of the tenancy. Following a Check out inventory process at the end of your tenancy, the independent inventory clerk will ascertain whether further cleaning is required, which may result in you being liable for additional costs.

Early Termination/Surrender of Tenancy

In order to terminate/surrender a tenancy outside of any contractual obligation, a fee of £50.00 Inc VAT is payable plus the landlords costs to re-let and any additional reasonable costs (calculated at 10%, 12% or 14% Inc VAT at the prevailing rate, rate, depending on the level of service the Landlord enjoys, multiplied by the rent for the remaining months of the Tenancy to the end of the contractual term) subject to the Landlords consent. For the avoidance of doubt the Tenant is liable for all rent payments until such time that the replacement tenant has taken occupancy.

Default fees for lost or damaged keys/security devices

To pay £18 Inclusive of VAT at the prevailing rate per hour for the provision of replacement of lost or damaged keys/security devices in addition to the cost of each key and or security device (costs vary per management company and the type of keys/security device). For high security key replacement such as Banham, the cost will be charged at £72 Including VAT at the prevailing rate per hour in addition to the cost of each key and or security device in order to comply with Banham’s protocol for key replacement, which includes attending their offices located in Kensington.

Rent Arrears

The Tenant shall pay to the Landlord interest at the rate of 3% per annum above the Bank Of England base rate, from time to time on any rent remaining unpaid for more than fourteen (14) days after the day on which the rent became payable.

Letting fees information – For tenancies entered into before 1st June 2019

When renting a property through Williams Lynch the following charges will apply:

To secure a property

We require you to pay one week of the first month’s rent as confirmation of your intent to proceed with the proposed tenancy. Should you decide not to proceed or should your references fail this payment is non-refundable.

Inventory

Inventory charge from £204 inc VAT at the prevailing rate (costs vary dependent upon service required and number of bedrooms). You will be required to pay for an inventory to be compiled pre-tenancy by an independent inventory company. You will receive a copy of the inventory within approximately 4-5 days following the start of the tenancy, and you will be required to review the report and return it signed, within 7 days, confirming it’s content.

References

We use a specialised independent agency to collect references on our behalf and you will be required to complete an application form.

Reference fee per applicant £72 Inc VAT

Guarantor fee (if required) per applicant £72 Inc VAT

Tenancy Agreement

An ARLA approved tenancy agreement will be provided which we require all parties to sign ahead of taking up occupancy for which we will charge a fee.

A Tenancy agreement fee of £180 Inc VAT

Please note all of the above fees will be required to initially reserve a property and the agreement is subject to references and contract.

Deposit

You will be required to pay a six week security deposit equivalent to six weeks rent, (tenancies commencing from 1st April 2019 will require a five week security deposit) before taking occupancy and this will be collected one week ahead of your scheduled move date.

Rent in Advance pre-tenancy

We require you to pay the balance of the first month’s rent before taking occupancy (or unless otherwise pre-agreed a higher amount). The balance is determined by the remaining amount of the first month’s rent, less the amount you have paid to secure the property, not including the administration and referencing charges. This will be collected one week ahead of your scheduled move date.

Change of Occupant

In order to change an occupant to an existing tenancy at the landlords full discretion, a fee of £420 Inc VAT will be required for administration, referencing and right to rent checks to be performed pre-tenancy. Payment of this charge does not constitute the granting of a tenancy and is non-refundable.

End of Tenancy

At the end of your tenancy you are required to return the property in the same cleaned condition as noted in your inventory, compiled at the commencement of tenancy. Following a Check out inventory process at the end of your tenancy, the independent inventory clerk will ascertain whether further cleaning is required, which you may be liable for additional costs.

Early Termination of Tenancy

To pay the cost of early termination of the Tenancy outside of any contractual obligation, (calculated at 10%, 12% or 14% Inc VAT at the prevailing rate x remaining months of the Tenancy to the end of the contractual term) subject to the Landlords consent, to cover the costs of the re-letting of the Property and/or commission incurred by the Landlord. For the avoidance of doubt the Tenant is liable for all rent payments until such time that the replacement tenant has taken occupancy.

Please speak to our lettings team for further information.

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