We find prospective tenants for your property as soon as it goes on the market, we also advise on "short letting" ones property in central London to achieve the maximum yield. In fact, the whole rental process can be managed to fit in with your timescale for moving.
Based on our knowledge of the London market and your reasons and timescales for letting, we can determine the right asking price for your property. As well as this we can advise you on what improvements you could make which may add to its value.
We will also explain our personalised marketing strategy for your property. Not just how we will advertise your home, on the main Internet hubs via ZOOPLA, PrimeLocation etc,. But the behind the scene work of matching tenants from all over the country looking for a home in your area and how we work hard to complete the letting on your behalf. Here at Chesterandson we are part of ARLA and OMBUDSMAN scheme, Deposits registered with MyDeposits and guaranteed by a Clientdeposit scheme.
Chester & Son requires an administration charge of £0 (inc. VAT ) to cover the cost of preliminary paperwork and the preparation of your tenancy agreement. This amount is payable in full prior to commencement date and is charged per property and not per person. Chester & Son also requires a payment from each tenant (whose name will appear on the tenancy agreement) to cover the cost of referencing. Referencing is carried out by an independent credit referencing agency and costs £0 (inc. VAT ) per person. This charge is non-refundable. You will usually be responsible for payment of the inventory check-in at the start of your tenancy; the cost depends on the size of property. As an example, the cost for a one bedroom apartment is £0 (Inc. VAT). The charge is per property and not per person and is payable in full at the end of the tenancy.
You will pay holding deposit of £500 (NO VAT) in order to remove the property from the rental market. The holding deposit is non-refundable but will be refunded if the landlord decides not to proceed for whatever reason. This amount will be deducted against monies on move in day and is charged per property and not per person.
All charges are inclusive of VAT at the prevailing rate of 20%.
You should allow for the following payments when making an offer to rent a payment:
| Preparation of tenancy agreement | £0.00 per tenancy inclusive VAT |
| Referencing - individual applicant or guarantor | £0.00 per person inclusive VAT |
| Referencing - company tenant or guarantor | £0.00 per application inclusive VAT |
| Inventory check-in | £0.00 per tenancy inclusive VAT |
| Holding deposit | £500.00 NO VAT |
All offers are subject to contract and the holding deposit will be held against our expenses in processing your application. Please be aware that if you make an offer and later withdraw from this, then you may lose all or some of the above.
*If your offer is accepted then this amount will be set off against the initial rental payment, so you are not making this payment twice.
References and Anti-Money Laundering Regulations
All applicant references are undertaken by an independent specialist referencing company. You will be asked to complete their online application form.( ELETSURE.COM)
You will need to provide us with an original document to prove your identity (current passport/photo driving licence) and to prove your current address (such as a bank statement, credit card, utility bill, council tax demand, etc. dated within the last 3 months). We will take a photocopy and return the original to you.
Offer accepted stage
If your offer is accepted (subject to contract) then before the tenancy starts you will need to make the following payments to us by cleared funds, which are usually:
| Rent (less the holding deposit already taken, as above) | 1 x month's rent |
| Security deposit | 5 x week's rent |
However this may vary depending on the individual landlord's instructions and requirements. Further rents will be taken by direct debit from one nominated UK bank account.
All deposits held by us for assured shorthold tenancies will be protected by the Tenancy Deposit Scheme (TDS).
Renewal Charge
Preparation of renewal tenancy agreement £50.00 per tenancy
Additional Charges
Reference
If Landlord require a reference for a tenancy or mortgage, etc. £50.00 per reference
Amendments or changes to the tenancy terms
Should you wish to make any changes or amendments to the terms of the agreement once the tenancy has started then, dependent upon your landlord agreeing, we will draw up an addendum to the agreement.
Addendum £50.00
(paid by the party requesting the amendment, but may be shared between both parties, if agreed)
Early release
If, for any reason, you request your landlord to agree to ending the tenancy earlier than the end date set out in the tenancy agreement (or in line with any break clause included in the tenancy agreement) then he/she does not have to agree to this. However should your landlord agree, then he/she can ask you to reimburse him/her for any financial loss he/she might suffer as a result. This may include:
| The equivalent of the letting fee already paid by your landlord to us from the date you wish to end the tenancy until the date you could contractually end the tenancy (calculated as a daily rate) | Variable |
| The landlord's cost of the preparation of a new agreement | £150.00 inclusive VAT |
| The Landlord's cost of an inventory check-out | £120.00 inclusive VAT |
Change of sharer
Your landlord does not have to agree to you changing any of the named tenants during the tenancy term. However he/she may agree to do so subject to you reimbursing him/her for any financial loss he/she might suffer as a result as a result of ending one tenancy early and creating a new tenancy. This may include:
| The landlord's cost of the preparation of a new agreement | £50.00 inclusive VAT |
| The tenant's cost of the preparation of a new agreement | £50.00 inclusive VAT |
| Referencing proposed new tenant(s)/guarantor(s) | £0.00 per person inclusive VAT |
| Re-referencing current tenant(s)/ guarantor(s) (at LL's request) | £0.00 per person inclusive VAT |
| Inventory check-in-out £120.00 | Inventory check-in-out £120.00 inclusive VAT |
| Tenancy deposit protection, including administration charge LLord | £30.00 inclusive VAT |
| Landlords Fees | % | VAT % | Total % |
|---|---|---|---|
| Letting & Management service | 10.00 | 2.00 | 12.00 |
| Letting service only | 8.00 | 1.60 | 9.60 |
| Management service only | 5.00 | 1.00 | 6.00 |
| Sole Letting & Management service | 9.00 | 1.80 | 10.80 |
| Sole Letting service only | 6.00 | 1.20 | 7.20 |
| Renewal or extension Letting service reduced to | 5.00 | 1.00 | 6.00 |
| Supervision of works above £7500+VAT | 10.00 | 1.00 | 6.00 |
| Amount £ | VAT £ | Total £ | |
| Tenancy agreement Fee | £125.00 | £25.00 | £150.00 |
| Periodic agreement Fee | £60 | £12.00 | £72.00 |
| Addendum or Memoranda | £40.00 | £8.00 | £48.00 |
| Aborted Leeting Administration Fee | £125.00 | £25.00 | £150.00 |
| TDS Protection per annum | £25.00 | £5.00 | £30.00 |
| Key Cutting | £12.50 | £2.50 | £15.00 |
| Tax administration NRL per Qtr | £75.00 | £15.00 | £90.00 |
| Copy Statements per 12 months | £50.00 | £10.00 | £60.00 |
| Minimum Letting Service | £500.00 | £100.00 | £600.00 |
| Independent Inventory Two Bedroom apartment | £135.00 | £27.00 | £162.00 |
| Independent Inventory Three Bedroom apartment | £160.00 | £32.00 | £192.00 |
| Independent Inventory Four Bedroom apartment/House | £200.00 | £40.00 | £240.00 |
| Independent Inventory in is dependent on size of property |