RESIDENTIAL LETTINGS & PROPERTY MANAGEMENT

TENANT FEE INFORMATION

In Accordance with the TENANT FEE ACT 2019

Once you have viewed and chosen a suitable property to rent through McRae’s, we will provide you with an APPLICANT QUESTIONNAIRE. This not only explains the information we require from you/each Applicant, but also the fees you/each Applicant will be required to pay prior to the Tenancy commencing, during and after the Tenancy ends. If all your initial applications meets the necessary criteria and our Landlord agrees to let the property to you, we will require each Applicant to sign An Agreement Regarding The Holding Deposit. Please do not hesitate to ask a member of McRae’s Lettings Team any additional questions you may have. We are here to help! Set out below is a list of our current fee scales. Please accept this list as a “Guide” only as these fees can vary depending on changes in current Legislation.

FEES TO PAY PRIOR TO MOVE IN DATE

Holding Deposit

Equivalent to one week’s rent

The holding deposit is taken whilst the Applicant completes the Referencing process and holds the property for 15 days. In this period no other viewings will take place. Upon successful completion of References, the holding deposit can then be deducted from the first month’s rent due prior to “move-in”.

PLEASE NOTE:

The holding deposit will be retained in full by McRae’s Lettings & Management if the Applicant provides false or misleading information which reasonably affects our decision to let the property to them (i.e. calls into question their suitability as a tenant, this can include their behaviour in providing the false or misleading information), they fail a right to rent check, withdraw from the proposed agreement (decide not to let) or fail to take all reasonable steps to enter an agreement (i.e. not responding to reasonable requests for information required to progress the agreement) when the landlord and/or McRae’s Lettings & Management acting as the agent has done so.

Tenancy Deposit

Equivalent to 5 weeks rent

First Month’s Rent

Paid together with the Tenancy Deposit and minus the Holding Deposit already taken if an Agreement For Holding Deposit has been signed.

FEES AFTER THE COMMENCEMENT OF THE ASSURED SHORTHOLD TENANCY

Changes To The Tenancy Agreement £50.00
inc VAT
(£41.67
plus VAT)

This may be the introduction or change of Tenant, or pet or other amendments that change the contractual responsibilities. The cost may increase if the Landlord is able to prove that the resulting cost is higher AND is reasonable.

Late Payment of Rent 3%
(Calculated above Bank Of England Base Rate)

For rent which is at least 14 days in arrears, with the interest calculated back from the first day of arrears.

Replacement of Locks/Security Devices Variable

There may be circumstances where it is necessary to pay more than the cost of a standard door key, therefore, all claims must be supported by evidence from the Landlord of costs AND is reasonable.

Early Termination of Tenancy Variable

The Landlord must be able to show reasonable loss has been suffered, for example as a result of referencing, re-advertising, and can charge rent until the commencement of a new Tenancy.

Utilities

Refer To Your Assured Shorthold Tenancy. Tenants are responsible, unless agreed otherwise, for ALL utility payments, Council Tax, TV License, Broadband etc.