What does it cost to rent with Northfields
Funds required in advance if you take a property with us:
- 1 week’s holding deposit to secure the property – this will be deducted from the rent due in advance
- 1 month’s rent in advance
- 5 weeks security deposit (on rentals up to £50,000 pa) or 6 weeks for rental over £50,000 pa
We will hold the deposit as stakeholders and register it with the TDS and this will be paid back to you less any agreed deductions after you vacate the property.
- The charge for a ‘change to the tenancy’ will be £50 (inc VAT) unless the landlord demonstrates that greater costs were incurred.
A ‘change to a tenancy’ is any reasonable request to alter a tenancy agreement. This could be making changes to the tenancy agreement to enable: • pets to be kept in the property • a change of sharer in a joint tenancy • permission to sub-let • a business to be run from the property • or any other amendment which alters the obligations of the agreement.
To secure a property
We require 1 week’s rent to reserve the property for you and this will form part of the payment of the first months rent when you move in.
Before paying this holding deposit, you must be sure you want the property as it will not be refunded if you decide not to go ahead with the tenancy for whatever reason. If any of the tenants do not pass reference check and cannot provide suitable guarantors you will not be accepted for the tenancy and the holding deposit will not be refunded.
Payments accepted: Bank transfer, internet banking or debit card payment
Negotiated Charges
Landlords are at liberty to ask for additional rent if you have a pet living at the property. This will be clearly detailed to you in advance and your express permission will be required.
You may be asked to agree to payment of the following services, however, your express permission will be required at the outset of the tenancy as a negotiated clause.
- De-infestation treatment
- Additional cleaning for properties where pets have lived
Damage & Cleaning
Contracts can reasonably state that a tenant must return the property in the same condition that they found it, eg. professionally cleaned.
The tenant can be given the choice of restoring the property to the same standard themselves, or they can be offered the option to pay for professional services via the landlord or the letting agent. It is the tenant’s choice.
Where the property has been damaged, landlords will be able to make a reasonable claim for costs incurred via deductions from the deposit, or if necessary, via court action.
Non-Housing Act Tenancies
Tenancies which are not covered by the Housing Act 1988 (as amended 1996, 2004) are NOT party to the Tenant Fee Ban and charges will apply as follows:
- TENANCY AGREEMENT FEE (PER PROPERTY) £300.00 (ex VAT £250.00)
- REFERENCING FEE (PER TENANT) £75.00 (ex VAT £62.50)
- GUARANTOR REFERENCING FEE (PER GUARANTOR) £75.00 (ex VAT £62.50)
- COMPANY REFERENCE FEE £75.00 (ex VAT £62.50)
- CHANGE OF NAMED TENANT/SHARER FEE £300.00 (ex VAT £250.00)
- INVENTORY CHECK IN INC VAT EX VAT STUDIO/1 BEDROOM £135.00 (ex VAT £112.50)
- 2 BEDROOMS £155.00 (ex VAT £129.17)
- 3 BEDROOMS £175.00 (ex VAT £145.83)
- 4 BEDROOMS £195.00 (ex VAT £162.50)
- 5 BEDROOMS £215.00 (ex VAT £179.17)
- 6+ BEDROOMS £215.00 (ex VAT £179.17)
WHAT IS A NON-HOUSING ACT TENANCY?
These are tenancies which are not covered by the Housing Act and are, therefore, not subject to the Trenant Fee Ban:
- Company tenancies
- Tenancies with a resident landlord
- Pied-a-terre – tenancies which are not the tenant’s main home
- High rent tenancies over £100k per annum
- Premium leases
- Holiday lets / Air BNB style lets
