Tenant(s) Fees, Information and Terms & Conditions.
At Samuel Estates, we take immense pride in providing all of our applicants and existing tenants witha detailed and transparent list of all fees and charges that may be incurred during the application process and throughout a tenancy. All of our current fees and charges are shown inclusive of VAT at the standard rate of 20%.
Tenant reference fee
Samuel Estates employs the services of a professional tenant referencing agency to carry out comprehensive reference and credit checks on all applicants who seek to enter into a tenancy through Samuel Estates. All applicants over the age of 18 years are required to be referenced and named on the tenancy agreement. This fee is non-refundable once the referencing process has begun.
Amount: £120.00 including VAT per person.
Guarantor reference fee
If an applicant requires a Guarantor for whatever reason, Samuel Estates employs the services of a professional tenant referencing agency to carry out comprehensive reference and credit checks. A guarantor must be able to meet the affordability set by the referencing agency and will be added to the tenancy agreement provided the referencing agency deem them suitable. This fee is non-refundable once the referencing process has begun.
Amount: £120.00 including VAT per person.
Corporate reference fee
Samuel Estates employs the services of a professional tenant referencing agency, to carry out comprehensive reference and credit checks on all companies who seek to enter into a tenancy through Samuel Estates. This fee is non-refundable once the referencing process has begun.
Amount: £250.00 including VAT.
In most cases Samuel Estates will draft up and issue a legally binding tenancy agreement and the cost of this is shared between the landlord and the tenants. This fee covers the cost of the administration involved in drafting of the tenancy agreement and is charged per tenancy, not based on the number of applicants entering into the contract. If a landlord decides to use his own tenancy agreement the fee may vary, however you will be notified of this from the very start of the application process. The fee listed below is the tenant(s) share for drawing up the contract.
Amount: £175.00 including VAT
Inventory check-out fee
At the start of the tenancy the landlord will pay for a professional inventory company to carry out an inventory check in report. At the end of your tenancy the professional inventory company will return and carry out an inventory check out and schedule of condition report. The cost of the inventory check out is payable by the tenant(s) and the amount payable will depend on the amount charged by the independent inventory clerk engaged by Samul Estates. This fee will be noted in your Tenancy agreement.
Aborted Inventory check-out fee
Where the check-out appointment has been booked in for the property and the tenant(s) fail to keep the appointment or allow the Inventory Clerk access to the property and the agent is required to cancel or postpone the appointment an abortive fee will apply.
Amount: £72 including VAT
Extension of tenancy fee
Approximately three months prior to your tenancy ending, Samuel Estates will approach both the landlord and the tenant(s) to find out if both parties wish to extend the tenancy beyond its original term. Payment is due before the extension agreement is signed by the landlord.
Amount: £72.00 including VAT
Change of tenant fee
You may at some point want to replace or even remove one or more individual(s) from a tenancy. This is called the ‘substitution process’. In most cases this is simply one tenant moving out, while a new tenant moves in. Before agreeing to carry out a substitution, we have to have the landlord’s permission to do so. This fee covers the cost of the drawing up of a new tenancy agreement or issuing of a deed of assignment should one tenant in a shared property be replaced by another tenant. Payment is due before the new tenancy agreement or deed of assignment is signed by the landlord. Please note that any new tenants will be required to be referenced and that a tenant referencing fee will be an additional charge.
Amount: £300.00 including VAT
Late payment of Rental Administration Charges
All tenants are required to provide proof that a standing order has been set up to pay the monthly rent (from one account) prior to the commencement of the tenancy. In the event that the rent has not been paid and is three or more working days late, Samuel Estates will charge an administration fee for each letter issued regarding late or non-payment of rent.
Amount: £50 including VAT
Multiple Payments of Rent – Fee
All tenants are requested to provide proof that a standing order has been set up to pay the monthly rent (from one account) prior to the commencement of the tenancy. In the event that the rent is paid from multiple accounts Samuel Estates will charge an administration fee for to cover the cost of the additional time it takes to account for.
Amount: £50 including VAT
Information and terms & conditions for tenants
After an offer has been accepted by a Landlord, which will be subject to contract and receipt of satisfactory references, it is normal for the prospective tenant(s) to place with Samuel Estates a holding fee (£500) as a sign of their good intent. Samuel Estates will, in turn stop marketing the property while the referencing process is carried out. Should the tenant(s) decide not to proceed with the tenancy or if a satisfactory credit assessment and references are not obtained, the tenant(s) will forfeit this holding fee. Should the Landlord decide not to proceed the holding fee will be refunded. If the tenancy goes ahead the holding fee will be added to your rental account and deducted from the balance of monies due prior to the start of the tenancy.
References & Right to Rent Checks
Samuel Estates reserve the right to use a professional tenant referencing agency to assess potential tenant(s) (and Guarantor if required) and the cost of this would be for the tenant’s account. A detailed reference analysis will cost each tenant £100.00 including VAT, if the tenant is a Company the charge will be £250.00 including VAT. Each named tenant (and Guarantor if required) will be required to complete an application form. The tenant referencing company will ask you for details of your employer, bank, previous Landlord and a character referee. Your references will be shown to the Landlord or an interested party acting on their behalf.
We are required to undertake document checks to establish whether each named tenant has the right to rent a property in accordance with the Immigration Act 2014. We must obtain original versions of one or more acceptable documents and check the documents validity in the presence of the holder before the start of the tenancy.
We also require proof of address, e.g. a copy of a utility bill or a bank, building society or credit card statement showing your name and current address (no more than 3 months old).
The initial payment will consist of the holding fee (£500) and any referencing fee charges.
Payment may be made by any of the following methods:
Contract fee, balance of deposit and First month’s rent
Provided we receive satisfactory credit assessment and references, and approval from the landlord, we will proceed to drafting up a tenancy agreement which will be sent to the tenant(s) for review. At this point we will request that the tenant(s) pay the contract fee £175 including Vat, the balance of the deposit (which is normally equal to 6 weeks rent) and the first month’s rent. The first month’s rent must be shown as ‘cleared funds’ in our client account at least 2 working days prior to the start of the tenancy or the move in date will be moved back.
The deposit of an amount equal to, not less than six weeks’ rental is required and in most cases will be held by Samuel Estates as Stakeholder. Samuel Estates is a member of the Tenancy Deposit Scheme which operates to safeguard your deposit and to ensure that any dispute over the return of the deposit after the tenancy has ended is resolved swiftly, inexpensively and impartially. Further details are available at www.tds.gb.com.
Normally payable monthly or quarterly in advance to Samuel Estates. We will ask you to set up a standing order for all future rental payments and we will ask you to provide proof of this. If there is more than one person living in the property and sharing the rent between you, we will ask you to pay the rent from one account only and for a standing order to be set up from this one account. Please note that this standing order must be set up to leave your account (or joint account) 3 working days before the rent due date in order for it to arrive on time.
Term of the tenancy
Usually a minimum of 52 weeks initially with any options for renewal and/or release clauses to be negotiated.
Inventory check-in and check-out
An inventory check-in will normally be carried out at a pre-arranged time on the day the tenancy commences with an independent inventory clerk booked by Samuel Estates. It is strongly recommended that the tenant(s) are present both for the check-in and check-out to avoid any disputes at the end of the tenancy. The landlord will cover the cost of the inventory check-in and the cost of the inventory check-out will be paid by the tenant(s) at the end of the tenancy. The amount of the charge is determined by the inventory clerk and will be notified prior to signing the tenancy agreement and the charge will be noted in the tenancy agreement. You must inform us as soon as possible if you have to change an appointment in order to avoid cancellation charges.
The tenant(s) are responsible for the gas, electricity, water, telephone, TV licence and council tax bills for the duration of the tenancy. Either your Landlord or Samuel Estates will contact the utility companies (apart from British Telecom) on your behalf and will instruct them to transfer the accounts into your name at the start of the tenancy. However, you should also contact the suppliers to make sure this has been done. Please do not arrange for any of the utilities to be transferred to a different supplier without letting us know. British Telecom will not accept our instructions on your behalf so please call them on Freephone 150 to arrange to have the telephone service transferred into your name.
The Tenant is responsible for insuring their own contents. Please be advised that the Landlord’s policy does not cover the tenant(s) possessions and you are strongly advised to insure your belongings with a reputable insurer.
Extension of tenancy/change of tenant
If the Tenancy is extended beyond its original term, a charge of £60.00 including VAT will be payable by the Tenant for drawing up the necessary paperwork. If a Tenant in a shared property wishes to be replaced by a new tenant during the tenancy (subject to the Landlord’s consent and receipt of satisfactory references) a charge of £300.00 including VAT will be payable by the Tenant for drawing up a new Tenancy Agreement or Deed of Assignment. In addition, £120.00 including VAT will be payable by each new Tenant to cover the cost of taking up references.
At the commencement of the tenancy we will advise you who will be responsible for the day to day management of the property (this is not always Samuel Estates) and provide you with the relevant contact details. Where we are not managing the property we are unable to arrange any repairs or maintenance on the Landlord’s behalf, nor can we control how quickly repairs will be carried out. Where we manage the property it may be necessary, in some instances, for us to obtain the Landlord’s consent before arranging a repair.
Health and safety advice
Everyday safety procedures.
Smoke alarms & Carbon Monoxide detectors
Your property will have the required amount of smoke and carbon monoxide alarms (if necessary). It is your responsibility to ensure that the alarms are in working order at the start of the tenancy and to advise us immediately if not, in order to have them replaced. Please check the batteries in the first instance, ensure that during the course of your tenancy the alarms are tested regularly.
If you smell gas:
We always strongly recommend to all tenant(s), regardless of the type of property, that they take simple measures to protect the property from possible security risks. Please see below a list of recommendations: