The tenancy set up fee includes the cost of referencing – which will cover checking your credit status, previous employer, current or past landlords, and taking into account any other information to help assess the affordability of your tenancy application. The fee also includes providing a Tenancy Agreement and protecting your security deposit with a scheme such as My Deposits. It covers the cost of one person. The landlord pays a share to set up the tenancy.
After you’ve viewed the property and have decided to apply to rent it, we will provide you with a Tenancy Fee Declaration form which lists the services we provide and the fees that are payable. You will then be asked for your tenancy set up payment, which will be offset against the total amount payable on the day you sign the tenancy agreement and move in to your new home.
Any additional fees that may be applicable to you, for example a guarantor fee, will be collected on the day that you sign your tenancy agreement along with your rental and security deposit payment.
This covers the cost of processing the application and associated paperwork for any additional applicants. For each additional applicant there will be a fee.
Depending on the outcome from your application from the referencing company, your earnings or overall financial position may require you to provide a Guarantor. This is not uncommon, and means you have someone on your behalf that undergoes credit referencing – to ensure they have sufficient earnings to cover the overall rent commitments in the event that you, as the tenant, are unable to pay your rent. This fee is payable in respect of each Guarantor to cover credit referencing costs and providing a Deed of Guarantee as part of the Tenancy Agreement, which details their obligations as a Guarantor.
This is a person approaching, or over the age of, 18 who will not be permanently residing at the rented property. This only applies in very specific situations and then only with the landlords consent. The administration costs include supplying the relevant documentation that explains in more detail what it means to be a permitted occupier and how this fits in with the tenancy of the property.
This covers the added risk of property damage. It will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy. Although the retention of two weeks' gross rent will be made for three months post-tenancy to cover any flea infestation.
May be applicable if a change to the tenancy is required mid-term. This may be due to a change in personal circumstances and / or a request to leave the tenancy early is agreed prior to the end of the tenancy agreement (this is subject to landlord consent).
This is the cost of preparing a new Tenancy Agreement and negotiating with your landlord for a further fixed term tenancy. Extending your tenancy, if agreed by your landlord, gives an assurance of staying in the property for a further fixed period, and avoids the uncertainty of a landlord serving notice at any given time. The landlord also pays a share for renewing the tenancy.
Some landlords ask Your Move to employ external inventory companies to produce an inventory for their property before the let. Where this applies, you will be liable for a check out fee when the inventory company carries out their inspection at the end of the tenancy. If applicable, the check out report forms an important part of how the return of your security deposit is arranged. Please feel free to ask our staff if this would apply to you. The landlord also pays a share of the check out fee.
Deductions may be made due to variation of the condition of the property compared to the inventory. A work arrangement fee of 12% (10% +VAT) of that invoice will be charged for arranging the work, processing the invoice and making the payment to the contractor.
Our fees for tenants can vary from property to property. Your local Your Move branch will be able to provide you with details of how much these fees will be for any property you are interested in, or click on the link "other fees may apply" which can be seen on every rental property in England and Wales on this website.
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