Tenant guide to fees at the various stages
Making your move straightforward and simple
At Regents we make it our job to help take the stress out of moving home. Below is a brief outline of the process and what you can expect to happen each step of the way along with a guide to any financial provisions you will need to be aware of.
We are members of The Property Ombudsman and also form part of the National Federation of Property Professionals Client Money Protection Scheme.
Looking for your ideal home
Registration is the first step as it tells us who you are, what you’re looking for and how to reach you. The more we understand about your requirements, the simpler it will be for us to find you that perfect property. It helps if we have all your contact telephone numbers so that we can advise you as soon as a new property becomes available.
Viewing properties with us
All viewings will be arranged and accompanied by our dedicated lettings experts. We are available from 8.30am to 7.00pm Monday to Thursday, 8.30am to 6.00pm Friday and 8.30am to 5.00pm on Saturdays. The vast majority of properties let very quickly – usually within a week of becoming available, therefore we would recommend that you respond and view properties as swiftly as possible.
Securing your property
Once you have found a property and your offer has been accepted by the landlord, we will require a Preliminary Payment (Holding Deposit) between £500-£1,000 (depending on the value of the property) which will be deducted from your final completion monies. Upon receipt of this payment, we will withdraw the property from the market and start your referencing process. The Preliminary Payment is non-refundable should you decide to withdraw for any reason and is payable by credit or debit card. Should the landlord withdraw for any reason we will of course refund your preliminary payment less any referencing costs incurred.
The referencing process
We use a secure and independent specialist referencing agency, who will complete a detailed application assessment. The process will include an employer’s reference to confirm your income to rent ratio for affordability, a credit history check, confirmation of residency and a previous landlord’s reference (if applicable). The cost is £60 per person. Please inform us as early as possible if you think there may be anything in your history to concern you, as there is often a solution.
In a hurry and need a quick move?
There are occasions when we are asked to make a move happen within as little as a few hours through to under 5 working days. If you require this service we will of course do our utmost to assist. An additional charge of £120 will be applied to the administration fee in these circumstances.
Signing the paperwork including your tenancy agreement
We will handle all the paperwork and provide a tenancy agreement for you and your landlord to sign. The tenancy agreement you will sign is a legally binding document of an agreed fixed period. Please ensure that you understand your responsibilities and if you are unsure for any reason, seek legal advice before signing the agreement. Renting via Regents ensures you receive:
- Help and advice through the referencing process
- Simplicity and ease of signing documents online
- A dedicated progressor to guide you through the pre-tenancy process
- Your check-in, check-out and inventory organised
- Safeguarding of your deposit
- Management of transferring your utilities
|Up to & above
The security deposit
You will be required to pay a security deposit equivalent to 6 weeks rent prior to moving into the property. This will be refunded to you at the end of the tenancy minus any deductions if applicable. Please note, we will ensure that your deposit is protected as per the tenancy deposit protection guidelines.
Monthly rental payments
Rent is payable monthly in advance by standing order. The rent due date is usually the day of the month that you initially moved in.
Detailing the condition of the property
A professional inventory and check-in process is prepared prior to the tenancy commencing. A convenient time will be arranged for you to meet with the inventory clerk to formally check you into the property. It is vital that you attend this meeting to ensure that the inventory which outlines the condition of the property is correct. The check-in fee varies according to the size of the property as detailed below:
Prior to you moving into the property, all tenants must sign the tenancy agreement and pay the completion monies in full. We will only accept cleared funds in the form of a Bankers Draft or Building Society cheque or bank transfer. We cannot accept cash or personal cheques under any circumstances.
After you have moved
Once you’ve moved in we will advise you of who to contact if you have any queries during the course of your tenancy and what to do in case of an emergency maintenance situation. Our team are always on hand to assist and our property support specialists can be contacted on 01932 736 505.
Depending on the type of service the landlord has requested us to provide, the following charges may apply in certain circumstances during the course of your tenancy:
- Late or unpaid rent – for each time your rent is either late, unpaid or not paid by standing order you will incur an administration fee of £30.
- Abortive appointment – we may be instructed to arrange appointments for routine inspections or maintenance related issues. In the event that an appointment has been booked with you and you fail to be present at the agreed times without prior notification to us, we reserve the right to charge an abortive call out fee of £85.
- Renewing a tenancy – Should you wish to renew the tenancy agreement, we will seek to agree, on the landlords behalf, terms for the new agreement and prepare the new paperwork required accordingly. For this service a fee of £100 will apply.
- Credit check at renewal – there are some circumstances where it may be a pre agreed requirement for a new credit check to be obtained at the point of renewal. Should this scenario happen, the associated cost for this will be £60 per person.
- Landlord references – If you decide to move on and require for us to provide you with a reference for your new agent or landlord, a fee of £30 will apply.
Note: All prices quoted are inclusive of VAT at 20%. Debit card fees apply and are charged at £2 per transaction with credit card fees charged at 3% of the total transaction value.