How our fees work

General

All properties are available on a long term basis and the rent payable is exclusive of utilities i.e., gas, electricity, Council Tax and telephone charges and all utilities will be the Tenant’s responsibility throughout the Term of the Tenancy.

A Tenancy will typically run for a term of one year or six months and within that period the Tenant will have a break clause of two calendar months which will be operative after the initial four months of the Tenancy, unless otherwise agreed.  
The Tenant may also have agreed an option to renew the Tenancy for a further term and in this case the rent for the extended term will be increased by agreement between the parties. Should you have a break clause during the first term of the Tenancy this will be automatically held over into the extended term and will be operative throughout any further extensions.

Acceptance of Offer/ Holding Deposit

Once a Tenant’s offer has been accepted and terms agreed you will be required to provide a Pre-tenancy application fee equivalent to one week’s rent.

If you decide to withdraw from a tenancy the Pre-tenancy application fee will be refunded less any reasonable costs in respect of taking up references, drawing up the Tenancy Agreement and out of pocket expenses which the Landlord or Agent may have incurred specifically for your tenancy.

References

Any offer accepted by the landlord is subject to satisfactory reference and you will be required to complete an online reference application form which will be processed by a third party independent reference company.

An application form must be completed by each person wishing to be named as Tenant and submitted online to the relevant reference company.  The completed report normally takes between 4 and 5 working days unless the referencing company have any queries and in which case they will contact you direct. The cost for each reference is approximately £42 inclusive of VAT and is payable by the Tenant.

Identification

We shall require a copy of each Tenants driving licence or passport together with a copy of a current utility account confirming your address.

Rental

Rent is payable on a calendar month or quarterly basis whichever is agreed between the Landlord and the Tenant and as specified in the terms of the Tenancy.

Deposit

The deposit will normally be equivalent to 6 weeks rent. Should you wish to include a pet, with the Landlord’s approval, the deposit will be equivalent to 8 weeks rent.  The deposit will be held by Laurent Residential as stakeholders for the duration of the Tenancy and lodged with the appropriate Deposit Scheme.  Laurent Residential is a member of the Tenancy Deposit Scheme (TDS).  The Tenant will be provided with a TDS certificate confirming that their deposit has been registered.

Initial Invoice

The initial invoice which covers the funds due prior to the start of a tenancy, will be based on one month’s/quarter’s rent,  6/8 weeks deposit, whatever is agreed at the time, also an administrative charge for drawing up the Tenancy Agreement of £200 plus VAT and a payment for taking up your reference as noted above.

The Pre-tenancy application fee  as mentioned above, will be deducted from the initial funds due (Initial Invoice) prior to the start of the tenancy.  The balance of which must be paid prior to the Tenancy commencement.

All future rental payments shall be paid by standing order to the Landlord or his Agent, details of which will be noted in the appropriate clause in the Tenancy Agreement.

Inventory

An inventory check-in will be done the day the Tenancy commences and an independent inventory clerk will meet you or your representative to go through the property and check its condition and to take meter readings for the utilities..

At the end of the Tenancy a check-out will be arranged.  The check-out report is an important document as it assists in ascertaining whether any deductions need to be made prior to returning the deposit to you so it is imperative that you or a representative attends both the check-in and the check-out.

The cost for the preparation of the inventory make and check-in will be the Landlord’s responsibility.

The Tenant is liable for the checkout charge which is dependent on the size of the property and whether it is furnished or not but the minimum charge is £90.00. An accurate figure can be provided at the time.

We are able to provide approximate charges, but it should be noted that this will also depend on the condition the Tenant presents the property in at the time of check-out.

Utilities

At the inventory check-in the meter readings will be taken and we will inform the relevant utility companies that the Tenant has taken over the relevant accounts.  We are unable to communicate with the telephone /broadband account and this will need to be dealt with by the Tenants as these companies will not accept any instruction from a third party.

If there is an alarm at the property the Tenant will be responsible for the charge for the annual maintenance of the alarm during the term of the Tenancy, the cost of which will be advised and noted in the Agreement.

General Responsibilities

The Tenant is expected to take all reasonable care of the property during the Tenancy and if the property is managed, to immediately inform the managing agent of any maintenance problems so they can be dealt with or advise their Landlord accordingly.

Call-Out by Tenant

Where actions of the tenant result in the agent or a nominated contractor attending the property to  remedy a situation a charge of £150 plus VAT will be levied plus any actual costs incurred.

See our fees

If you would like to discuss this with one of our team please contact us:

020 8876 4466
property@laurentresidential.co.uk

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