Guide to Charges For The Tenant
All prices are inclusive of VAT unless otherwise stated
** To observe the full list of charges that maybe applicable to you during the tenancy you will be sent a copy of the Tenancy Agreement prior to starting the application process, to which ALL Applicants must fully read and understand the terms and conditions of the Tenancy Agreement before any making any commitment to the tenancy. Detailed in the Tenancy Agreement is a schedule of ALL related costs that may fall upon you during the tenancy and or when your tenancy expires. Detailed below is a schedule of prominent fees**.
Setting up a tenancy
Once the Tenancy Has Been Confirmed
Once the applicant has passed the application process a Deposit equal to five to six weeks rent must be paid which will be secured with a nominated deposit protection service until the end of the tenancy (the deposit will be used as security against any damages that you may cause to the property and or its content)
Deposit (per person) £ To Be Confirmed as the cost is dependent on the rental figure of the property
During the Tenancy
The below will show details of some prominent charges/ penalties that may be applicable to you during the tenancy. Full details are listed in the tenancy agreement.
Late Payment Charges- 3% above the base rate of the Bank of England
Call Out Charge out of office hours if the problem is not deemed as an emergency or if you have caused the problem yourself then you will be charged the following plus cost of invoice for works done if applicable.
£50.00 between the hours of 1730.- 22.00 hours
£80.00 between the hours of £22.00- 09.00 hours
Replacement Copy of Tenancy Agreement-£25.00 Per copy required
Renewal of the Tenancy
As a lot can change in the space of a year unfortunately a renewal of a tenancy is quite similar to that of making a new Tenancy Application as new legal documentation has to be drawn up and further referencing, credit checks are required.
Early Termination of the Tenancy
As per terms of the Tenancy Agreement should you wish to exit the tenancy early then you are liable for all rent and liabilities falling under the tenancy until such time as a new tenant/s is/are found.
Cost of early termination (without finding a New Tenant) £ you will still be liable for ALL rent and utilities until a New Tenant is found.
If you have found a new tenant to take your place then you are liable for the following costs
• The landlord pays for the check in and check out at the termination of the tenancy however you would have to pay for a check out of your room and the communal areas so that damages to your bedroom (if any) can be deducted from your deposit and so the damages to the communal areas can be divided by the relevant number of occupants i.e your share can be deducted from your deposit.
• You would have to pay for your bedroom and communal areas to be professionally cleaned as we cannot expect the new person moving in to the property to be liable for cleaning if the property has not been cleaned ( unless the new person signs a waiver form to confirm they are happy with the cleanliness of the property and that they accept liability for cleaning when the end of the tenancy is reached)
**Cleaning Costs £ is undetermined due to the amount of cleaning required and the company used**
** Check out costs £ is undetermined due the amount of rooms requiring checkout and the company that is used **
End of the Tenancy-Common Charges
Should you have caused any damage to the property or its contents or left the property in an unclean state then you will be charged from your security deposit other charges from the deposit may include outstanding rent and late payment charges however you are given the opportunity to rectify any damage caused to the property before your tenancy expires should you not remedy the problems (if any) then you will be charged accordingly.
** Chargeable Only if the Below Are Required**
Decoration £ To Be Confirmed as the cost is dependent on the damage caused and the contractor/company used
Cleaning £ To Be Confirmed as the cost is dependent on the scale of cleaning required and the company used
Removal of personal belongings £ To Be Confirmed as the cost is dependent on the amount/weight of items to be removed and disposed of and also the price is dependent on the company/ contractor used
Maintenance £ To Be Confirmed as the cost is dependent on the works/ materials required and the company/ contractor that is used
Procedure for Tenancy
▪ Properties are rented on a first come first serve basis, therefore we cannot hold any properties for anyone as soon as an interested party has completed the necessary steps as advised by an agent.
▪ Upon deciding to rent a property you will be sent various information from the agent regarding your intended property as to what is required from each party, to which you and any other involved parties must check all information in full before making any commitment to enter into the tenancy process.
▪ If all involved parties are happy to enter the tenancy process, then you will each be required to put one weeks holding deposit and at the same time return any documentation as previously advised by the agent.
▪ Once the id and credit checks have been carried out and if they are satisfactory then the agent will write to you and advise you of when to pay the damage deposit which is equal to five or six weeks depending on the rental amount.
▪ If any of the required documentation is NOT returned on time then NV Estates reserve the right to remarket the property.
▪ The Damage deposit must be paid at one time for the full amount of monies, as this makes the process easier when we put your deposit into a deposit protection scheme.
▪ You must nominate a lead tenant for your group as the deposit protection service requires a lead tenant in order to send information and documents to also the lead tenant is responsible for allocating the deposit at the end of the tenancy.
▪ The deposit will be refundable at the end of the tenancy, subject to the terms and conditions of the Tenancy Agreement.
▪ Referencing and credit checks are sought from an independent group.
▪ NV Estates reserve the right to terminate an application if the referencing, Id checks and or credit checks are not satisfactory the same shall apply if the documents and or fees are not returned on time.
▪ If the tenancy agreement that you sign is a joint and several contract for the entire property, all tenants & where necessary the guarantors will be jointly and severally liable to all the terms and conditions as stated in the in the tenancy agreement.
▪ Each student will require a guarantor. The guarantor will be required to complete an application form and a guarantor form, and they too will also have an ID check and credit check.
▪ All tenancies will be for a period of one year, unless agreed otherwise in writing.
▪ All properties are let at a rent exclusive of utility bills unless stated otherwise
