Rental payments are usually taken monthly in advance – subject to references and agreed contract terms.
A deposit is held against dilapidations; this varies subject to the monthly rental but is a minimum of £200 above the monthly rent.
There is an administration fee of £210 (inc VAT) per tenant which covers the cost of identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords (and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement. Preparing an inventory and schedule of condition of the property, explaining how appliances function and taking meter readings for utilities and services. An additional £90 (inc VAT) will be charged per guarantor if required, this includes the financial credit checks, employment reference and drawing up of the guarantor agreement.
Student administration fees are £180 (inc VAT) which includes all of the above and the guarantor administration fee.
An initial holding fee will be required to reserve the property whilst references are processed, this is normally £300. This forms part of the above costs and is subject to contract and conditions.
In the event of the parties proceeding with the tenancy, your holding fee will be offset against your initial payment. Should the tenancy not commence on the agreed date for any reason, your holding fee will be forfeited for in order to cover costs including, but not limited to the following: re-advertising the property, monies in lieu of rent due to the property being reserved and unavailable to other potential tenants, preparing documents associated with the tenancy.
|All renewal of tenancies||£60 (inc VAT)|
|Check-Out Fee||£48 (inc VAT)|
|Overpaid Rent After Tenancy Ends||£30 (inc VAT) - per payment if we have to transfer the money back to you.|
|Outgoing Reference Fee||£30 (inc VAT)|
|Bounced / Late Rent Payment||£30 (inc VAT)|
|Letter Chasing Rent (per letter)||£12 (inc VAT)|
|Visit To Property||£30 (inc VAT) - we will visit the property if rent is not received after 21 days.|
|Non-payment of tenant invoice
within 14 days
|£24 (inc VAT)|
Please note that you will automatically be charged £30 (inc VAT) the day after your rent is due, to avoid this please ensure your rent is in our account on the date your rent is due.
If one of the tenants decides to leave part way through the agreement you may, with the landlords agreement, replace them. Please be aware that you must inform Hove Lets before changing tenants and get permission from your landlord, this permission will not be withheld unreasonably. To conduct a tenant changeover the household will be charged an additional fee of £300 (inc VAT). Please note that this fee is non-negotiable, and should you decide to change over tenants the incoming tenant will only be accepted once they have passed our referencing checks AND supplied a UK home owner guarantor. Please call Hove Lets to discuss these options.
In rare circumstances you may wish to be released from your contract early, please note that this will be the landlord’s decision and he has no obligation to release you until the contract expires. If the landlord does decide to let you leave early please note that there may be certain conditions attached, including:
If you find yourself in a situation where you wish to be released from your contract early please contact Hove Lets and we will be more than happy to advise you of your next step.
Please be advised that we are not a member of a client money protection scheme.