Tenant Fees

A £500.00 holding fee will be requested in order to withdraw any property. This amount will be deducted from the total outstanding move in monies. All viewings will be cancelled and enquiries will be put on hold.

Before you move in

There will be a minimum fee of £300.00 inc VAT administration fee for up to two tenants, this fee will include full referencing up to two tenants and you will be requested to provide us with original documents:

  • Identity immigration and visa confirmation e.g. photo driving licence or a passport
  • Financial credit checks will be carried out where necessary
  • Obtaining references from current or previous employers landlords
  • Any other relevant information to assess affordability e.g. payslips, bank statements as well as contract negotiation (amending and agreeing terms) and arranging tenancy agreement

Additional tenant fee £120.00 inc VAT per tenant (processing the application, associated paperwork and referencing)

Guarantor fee £120.00 inc VAT per guarantor (if required) covering credit referencing and preparing a deed guarantee as part of the named tenancy agreement.

First month’s rent and a six weeks security deposit must be in cleared funds when you sign the tenancy agreement. It is the tenants responsibility to set up a standing order for the rent to arrive on the rent due date.

During Your Tenancy

  • Amendment fee £120.00 (inc VAT) contract negotiation, amending and updating your tenancy agreement during your tenancy.
  • Renewal fee (tenants share) £120.00 (inc VAT)
  • Additional or Replacement Tenants £120.00 inc VAT per tenant (processing the application, associated paperwork and referencing)
  • Out of hours services where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate.
  • Cleaning (if required) £20.00 inc VAT per hour which will be deducted from the security deposit only charged where cleaning is necessary to return the property to the same condition as at the start of the tenancy.

Security Deposit

A security deposit equivalent of six weeks rent will be taken before the move in. This deposit will be paid into our DPS (Deposit Protection Service) account of which full details will be provided to tenants.

At the end of the tenancy all deductions must be agreed by both landlord and tenant in writing.

Landlord fees, charges and level of service offered:

Let Only Agreement - 9% inc VAT.

Our Let Only agreement includes the following services:

  • Agree the market rent
  • Listing on all major portals
  • Carry out block & single viewings
  • Find a tenant in accordance with the landlord guidelines
  • Full referencing
  • Contract signing
  • Completing all administration work in regards to the property

Please contact us in advance if you wish to extend your tenancy, a renewal fee of £500.00 inc VAT is charged for contract negotiation, amending and updating terms and arranging a further tenancy and agreement. (This is optional and only chargeable if the landlord requires Locus Estates to renew contracts with tenants)

Rent collection agreement - 10% Inc VAT

Rent collection 10% Inc VAT this can be spread out across the term of the tenancy. In addition to the let only service this service includes:

  • Collect and remit initial month’s rent received
  • Pursue non-payment of rent and provide advice on rent arrears actions
  • Agree collection of any shortfalls and payment method
  • Provide tenant with method of payment
  • Deduct pre-tenancy invoices
  • Make any HMRC deduction and provide tenant with the NRL8 (if required)

Full Management Agreement - 13% inc VAT

13% inc VAT. Our Full Management agreement includes the following services:

  • Listing on all major portals
  • Tenant find
  • Tenant referencing
  • Completing all administration work in regards to the property
  • Key handling
  • Rent collection
  • Arrange full maintenance works as its needed
  • Contract renewal
  • Routine inspections (every four months)
  • Locus Estates will be the direct contact point of all tenants
  • Tenant replacement
  • Managing all inquiries concerning the property including third parties
  • Serving Section 21 Notices
  • Applying rent increase
  • Registering deposit with the DPS deposit protection service
  • Advise all relevant utility providers of changes
  • Pursue non-payment of rent and provide advice on rent arrears actions
  • Agree collection of any shortfalls and payment method
  • Organising contractors to carry out repairs or maintenance works (we will provide different quotes for the works)

If you have any questions on our fees, please ask a member of staff