Tenant Fee Schedule
All new Assured Shorthold Tenancies (AST’s) signed on or after 1st June 2019
Please find below a breakdown of our tenant fees relating to all new Assured Shorthold Tenancies (AST’s) signed on or after 1st June 2019:
Holding Deposit- to secure a property with Sandersons UK, a holding deposit equivalent to 1 weeks rent pro rata at your chosen property is payable by bank transfer. holding deposit will contribute towards the owed rental balance prior to the agreed tenancy start date. The holding deposit will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).If the Landlord decides not to proceed with the application before the tenancy agreement is signed we will refund the holding deposit.
Referencing- Each member of the household over 18 will need to complete the Sandersons application form. The tenant(s), along with any guarantors (where required) will be sent the full referencing application to be completed online. Referencing will cover a credit check against the individuals public records, an Anti-Money Laundering check, right to rent checks, verification of employment and salary details, previous landlord reference and reporting the results of all those checks to the prospective landlord to approve whether or not the application is acceptable. More detailed information on what can be expected from the process to make your application run as smoothly as possible can be found within the application form/terms and conditions.
Guarantors- In some instances, the need for a Guarantor may not become apparent until the tenant referencing, (including for any joint tenants) has been completed. They will need to supply photographic identity and a utility bill dated within the last 3 months. The guarantor will also need to supply the required information to our third-party referencing provider for a credit check and verification of income/affordability so please ensure that they are happy to do this before the application is submitted. The guarantor will need to sign a Deed of Guarantee as part of the Tenancy Agreement. This document details their obligations as a Guarantor, so additional time might be required to organise this.
Security Deposit: A security deposit equivalent to 5 weeks rent (or 6 weeks if the annual rent is £50,000 or more) is due by bank transfer 2 working days before the start of the tenancy to cover damages or defaults on the part of the tenant during the tenancy. It is calculated dividing the annual rent by 52 then multiplying it by 5 then rounded down to the nearest £1 for simplicity. This deposit may be refundable in full at the end of your tenancy providing all of the terms of tenancy have been met and the property is returned in a satisfactory condition. Deposits under Management with Sandersons will be held and registered with MyDeposits- the negotiator will advise of the level of service the landlord has chosen with Sandersons. Subject to the landlords agreement, the tenant may also opt for a Nil Deposit Scheme. We have partnered with Let Alliance. Please click here for more information or speak to your negotiator to enquire if the property is available with a Nil Deposit option.
Unpaid rent: Interest at 3% above the Bank of England Base Rate from the Rent Due Date until the date rent is paid will be charged in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s): Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc.VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of contract (tenants request) – To cover the costs associated with taking landlord’s instructions as well as preparation and execution of new legal documents there will be a charge of £15 (inc. VAT) per agreed variation.
Change of sharer (tenants request)- To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents there will be a charge of £50 (inc.VAT) per replacement tenant or any reasonable costs incurred if higher.
Early termination of tenancy- in the event the tenant wishes to break a fixed contract they have entered into we will enter into negotiations with the landlord to enquire if they would consent to an early release. If the landlord agrees to an early termination, the tenant will be responsible for all of the landlord’s costs associated with re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy. Please see landlord charges for full breakdown.
Tenant Fees Act 2019 & existing tenancies
Please find below a breakdown of our tenant fees permitted under the transitional provisions of the Tenant Fees Act 2019 in instances where fees are written into existing tenancy agreements. These apply to all tenancy agreements granted or signed and executed before 1st June 2019, and can be charged up until 31st May 2020. They also apply to all Assured Tenancies (non-AST) and Company Lets.
During the tenancy
Late rent charges:
Daily charge for late rent - £2.40 inc VAT
Text/emails chasing late rent - £12 inc VAT
Letters chasing late rent- £43.20 inc VAT
Tenancy application charge: £180 (inc VAT) per tenant
Tenancy application charge (Company Let): £420 (inc. VAT)
Rescheduling missed property visit or contractor appointment if key access refused: £48.00 inc VAT for missed visits or the cost of the call-out charge in the event the tenant arranges an appointment direct with the contractor (and refuses key collection) then fails to allow access.
Renewal Fees (Tenant’s Share): £180 (inc. VAT) per tenancy for contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Permitted Occupier Fees: £50 (inc. VAT) per permitted occupier for negotiating terms with the landlord, administering changes, issuing written confirmation to all parties.
Variation of Contract Fees: £50 (inc. VAT) per request to cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer Fee: £180 (inc. VAT) per replacement tenant. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Duplicate Document(s): £5 (inc. VAT) per document. To cover the agent’s costs associated with providing additional copies of any paperwork already provided (tenancy agreement, Inventory, Schedule of Condition etc.) when requested by a tenant.
Out of Hours Service: £60 per hour (inc. VAT) plus any actual costs incurred. Where actions of the tenant results in the agent (or nominated contractor) attending the property, their time to remedy the situation is charged at the prevailing rate.
Ending the tenancy
Check out Fee: £180 (inc. VAT) per tenancy. Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Future Landlord Reference Fee: £24.00 (inc. VAT) per request. Collating information and preparing a reference for a future landlord or letting agent.
Early termination of tenancy - in the event you wish to break a contract you have entered into you will be responsible for the landlords costs of remarketing the property and implementing a new tenancy. These include marketing costs, referencing replacement tenants, tenancy set up, new inventory and check in. Please see landlord charges for full breakdown. You will be liable for the full rent up until the day before a new tenancy commences or your existing tenancy comes to an end, whichever is the sooner.
Charge for works organised on behalf of the tenant post tenancy - 10% of cost of works + VAT to cover Sandersons costs in organising, administering and overseeing works which should have been arranged by the tenant to ensure property is left in an acceptable condition before the termination of tenancy.
Please speak to your negotiator if you have any questions about our fees.