Letting Agents and Property Management Specialists
Lettings | Direct - Agency Fees
One of the main reasons people chose a reputable letting agent to help find their next home is to ensure the property is of a certain standard and complies with the current legislation.
As with all reputable letting agents, Letting's Direct does have to make an agency fee to cover all of our costs - however withe Letting's Direct, we do not have any hidden charges as often the case with some agencies:
What does the fee cover?
- Referencing of applicants
- Setting up the tenancy agreement
- Securing of the tenancy deposit
- Ensuring that every property is compliant with current legislation
- Moving the tenant into the property
How much is the agency fee?
We aim to be one of the most competitive agencies and charge £200 (+VAT) for the first applicant and £150 (+ VAT) for all subsequent applicants - should the Landlord require a Guarantor, then there is an additional charge of £50 (+VAT). Company lets are charged at £500 (+ VAT) per tenancy For student properties of 4 bedrooms or more we charge an administration fee of £125 (+ VAT) per student - should the Landlord require a Guarantor, then there is an additional charge of £50 (+VAT)
What additional costs are there?
- Move-in - agency fees are inclusive and there are no additional fees to pay on move-in,
- Tenancy Renewal - if the tenancy is renewed at the end of the initial rental term, we charge an administration fee of £95.00 (+VAT) per tenancy to cover the administration and re-referencing of the tenant(s).
- Check-out - We charge a check-out fee of £95.00 (+ VAT) to cover the cost of the check-out report and dealing with the deposit refund. These fees are per tenancy and not per person.
When are the fees payable?
- The Agency fee is payable when you reserve a property and this then allows us to process the application and obtain references etc. Renewal fees are paid when the tenancy is renewed and the Check-out fee is deducted from the deposit on termination of the tenancy.
Are Agency fees refundable if I change my mind?
- Unfortunately, if a tenant changes their mind about renting a property once they have made an application, we can not usually refund the agency fees paid. However if in a Landlord changes his mind, then all fees paid in full are refunded.
A deposit would also be required to be paid and our standard deposit is the value of the monthly rent plus an additional £200. Deposits are subject to referencing and where an applicant is not in either full time employment or able to provide a UK based guarantor, than a larger deposit maybe payable.
Head Office: 1 Canute Road, Southampton, SO14 3FH, United Kingdom
Copyright 2013 - Lettings | Direct.
Lettings | Direct are members of The Property Ombudsman Sales & Lettings Scheme
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Landlords - Looking to Let?
Comprehensive range of letting solutions and a highly experience team of property professionals, makes us the Premier choice for Property Management on the South Coast. Our service includes:
- High Profile Internet Marketing
- Retained Corporate Clients
- "Full Management" or "Tenant Find" Services
We are an established Letting's Agency with over 16 years experience and a wide spectrum of properties to rent for professional & academic tenants.
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