When renting a property, there are various costs that you will need to take into consideration when making an offer.
Below, we have outlined the applicable charges payable when renting a home from Knights Property Services. We believe in being completely upfront regarding our fees – so you can manage the cost effectively and don’t have to worry about any hidden charges along the way.
Relevant letting fees and tenant protection information when renting through us.
In addition to paying rent for the property (payable in advance) you may also be required to make the following permitted payments.
Before the tenancy starts:
- Holding deposit: equivalent to 1 week's rent; and
- Deposit: equivalent to 5 week's rent.
- Companies seeking to rent a property will be required to pay £300 inc. VAT (£250 plus VAT) for the completion of a company reference carried out by an independent referencing agency.
During the tenancy some charges may apply:
- Payments to other third parties: such as council tax, utilities or payments for communications services.
- Default charges: such as payments for the replacement of lost keys or interest on overdue rent may be applied.
- Tenancy changes: such as requests to vary the terms of or reassign the tenancy may also be applied which will be limited to £50 inc. VAT (£41.67 plus VAT).
We may consider numerous tenancy applications for a property but will not collect a holding deposit until initial enquiries have been completed and the landlord’s approval to proceed to formal referencing for a specific party has been obtained.
Holding deposits will be paid towards the tenancy deposit upon commencement of the tenancy where successful referencing and statutory checks have been completed.
A holding deposit will be retained by Knights Property Services where a prospective tenant:
1. Withdraws from contract before entering into the tenancy agreement.
2. Provides false information for referencing purposes.
3. Fails to act reasonably to enter into the tenancy before the deadline for agreement.
4. Fails ‘Right to Rent’ checks.