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Tenant Fees

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Notice to tenants regarding our letting agency fees

We hereby notify all tenants of our reference fees that are payable at the point they decide to take a property for rental with our agency (plus holding deposit). Our fees are explained in details below:

Reference fee per working tenant

£225.00 (inc vat). This fee is for the comprehensive reference checking per working tenant and includes the administration fee.

Reference fee per guarantor

£225.00 (inc vat). This fee is for the comprehensive reference checking per guarantor and includes the administration fee.

Holding Deposit (to pay along with the reference fees to take a property off the market)

This is equal to 2 week’s rent and will be deducted from the final move in monies (typically 1 month’s rent in advance and 6 weeks security deposit.

Mid Tenancy single tenant changeover fee

£300.00 (inc vat) per tenant (payable by incoming tenant)

Renewal fee

£100.00 (inc vat) This fee is payable by the tenants to Courtneys every time they renew their tenancy for a further term.

Consequences of withdrawing from the proposed let

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Should the tenant(s) withdraw from the proposed tenancy (at any time after paying the holding deposit and reference fees) their reference fees and the 2 weeks holding deposit will not be returned under any circumstances.

Consequences of failing the reference checks

Should one tenant or their guarantor fail the referencing process on grounds of the credit check, affordability criteria or a landlord reference, the landlord of the above property may not accept any other replacement guarantors or co-tenants and he/she may withdraw from the let. In these circumstances, Courtneys will only refund the reference fees for those references which have fully passed but the 2 weeks holding deposit along with the fee(s) for any reference(s) which have not passed will not be refunded.

Should one of the tenants or their associated guarantor (if applicable) fail the reference checks and the landlord has then agreed for a replacement tenant and/or guarantor to be reference checked, these new reference checks will also be charged at the same rate of £225.00 per tenant/guarantor and £75.00 per student tenant (on the basis they have a guarantor in place).

Refund of paid fees due to tenant(s) if landlord withdraws

We as Courtneys hereby confirm that should the landlord withdraw from the proposed let for reasons other than unfavourable references on your part, you (the tenants) will be entitled to a full refund of all monies paid to Courtneys to date (as outlined in the pre-contract agreement).

Pre Contract Agreement

At the point you pay us a holding deposit and reference fees to take a property off the market, we will also give you a 2 page document (which you will have signed) called the pre-contract agreement. This document will outline all the main points and clauses of the tenancy. It will also outline how the affordability criteria used by the referencing agency is calculated to ascertain if your total annual gross incomes are sufficient to be deemed affordable for the property.

Kind Rgds,

Courtneys Estate Agents

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