To reserve a property, you are required to pay the administration charge applicable depending on the number of applicants (see table below) and credit reference fee of £66.00 including VAT per adult. The fees will be deducted from the final move in balance prior to occupation subject to references and contract.
When reserving a property and paying the administration charge, you acknowledge that you are taking the property as seen, unless specific items/conditions are agreed with the Landlord and Agent prior to the administration charge being paid. The Administration Charge is deemed as NON-REFUNDABLE with the exception of the following circumstances only:-
REFUND IN FULL (including Reference Fees
If the offer is not accepted by the Landlord or the Landlord withdraws the property or if the Landlord does not agree to the Special Conditions listed on the Property Receipt Form (if applicable)
REFUND IN PART
If within 48 hours the tenant withdraws their offer, an admin fee of up to £100 + vat will be deducted.
If after 48 hours the tenant withdraws their offer, but the Landlord re-lets the property with the same proposed move in date above then an admin fee of up to £100 + vat will be deducted.
Where Reference forms are not returned to us within 5 working days, an admin fee of £100+vat will be deducted
Where the tenant provides false or misleading referencing information, and the Landlord is unable to relet the property by the proposed move in date, a charge will be levied to cover all of the Landlords costs up to a maximum of the deposit paid
If after 48 hours the tenant withdraws their offer, and the Landlord is unable to relet by proposed move in date, a charge will be levied to cover the Landlords costs up to a maximum of the deposit paid
In the event of an applicant failing to meet the minimum credit and salary requirements, then it may be necessary to use a guarantor (dependant on circumstances). The guarantor will have to go through the same credit referencing procedure and will also need to meet the minimum guarantor's requirements in order for the tenancy to proceed. Should the guarantor not meet the minimum requirements then we would be unable to proceed with the tenancy and the entire administration fee will be forfeited
A typical example of salary requirements are based on a calculation. The combined salary of an adult applicant must be equal to, or above, 30 times the monthly rent.
I.e. A property of £800pcm would require a combined salary of £24,000 per annum before tax.
(£800 x 30 = 24000)