Knight Partnership Lettings Limited

Residential tenancy charges

We would like to provide clarity of the fees that will become payable when you apply to rent a property we are marketing. We believe you should understand these before you make any decision about a property.

We set out below how our fees are calculated. These will usually cover Referencing, Tenancy Agreement administation and Inventory Checks. These will be paid in addition to any Rent and Deposit  that is due under a Tenancy Agreement.

Referencing - £96.00 This is charged for each tenant applying for the tenancy (aged 18 and above)
Guarantor Referencing - £120.00 Only if a Guarantor is required and charged for each Guarantor that is referenced*
Company Referencing - £300.00 Company of Business reference and application fee
Tenancy Agreement (tenant share) - £210.00 One of charge for the Tenancy Agreement preparation
Unfurnished Inventory Check (tenant share) - £120
Furnished Inventory Check (tenant share) - £144
Renewal/Extension - £114.00 One off charge for each renewal/extension

*You should be aware that the need for a Guarantor may not become apparent until your referencing, (including for any joint tenants) has been completed, therefore Guarantor referencing fee(s) will only becom payable should a Guarantor be required.

Please ask us to explain these to you, once we know your circumstances and how many tenants are applying for the property you are interested in, we can confirm the fees that could become payable.
 
Once the application form and fee(s) has been received we will apply to a referencing agency who will carry out the reference and credit checks on our behalf. At this point the property has been secured by you (subject to satisfactory references being received and subject to contract) and will be removed from the market for 14 days, after that period if we haven't received suitable references we reserve the right to place the property back on to the open market.

Check In Procedure:
Once satisfactory references have been received we will send out in writing a confirmation letter to you confirming the day and time we will meet you at the property to carry out the handover process. We will also send copies of your tenancy agreement for you to read, sign and return to us before the commencement of your tenancy.
 
 

 

Inventory and Schedule of Condition
When we meet prospective tenants at the property part of the handover process is to go through the Inventory and Schedule of Condition. Prospective tenants are required to sign one copy on the day of their tenancy commencing and a further copy being left with them to go through in finer detail. If in the event there are any amendments these must be provided to us within 7 days of the tenancy commencing.
 

 

Rent and Deposit
Prior to you taking occupancy of the property and releasing keys you are required to pay your first month's rent and deposit in cleared funds (debit card - 80p charge, bank transfer, bankers draft).
A deposit is equivalent to one month's rent plus £100.00 up to £999.00 rent (unless otherwise stated) and equivalent to 6 weeks rent of rents £1000 and above. The monies will be required to be paid prior to or at the start of the tenancy. The Landlord may require a higher deposit if the referencing criteria is not met, further details will be provided at the time.
In some cases if the prospective tenant has pets and this has been agreed with the Landlord, they will be required to pay an additional £150.00 to the standard deposit.
A cash handing charge of £1.00 per £100.00 will be charged for all cash payments throughout a tenancy.
For future rent payments these will be required to be made by standing order, further details of this will be provided at the commencement of the tenancy.

Your deposit will be registered with MyDeposits and a next of kin or safe address will be required in order to protect it. Deposit Certificates will be sent out to you and we request a copy returned to us within 14 days of the commencement of the tenancy.
 

 

Tenancy Renewals
At the end of the initial fixed term, provided the tenancy has been conducted in a satisfactory manner, you will be
given the option to renew your tenancy for another fixed term (subject to the landlord’s approval). An
administration charge of £90.00 will be charged to cover the cost of preparing the new agreement and reregistering
your deposit.
 

 

Late or Overpayment of Rent
If rent is late or is overpaid at the end of a tenancy, an administration fee of £18.00 will be charged.