Tenants Fees

Tenants fees

Tenants Fees

No administration fee’s or holding deposits will be charged we will however conduct the below checks
 
Income-to-rent ratio

The income-to-rent ratio assesses the applicant’s ability to cover the rent, and this must be a minimum of 30 x the annual rent.  Any shortfall in affordability may require a guarantor
 
Credit check

MyPad Accommodation carry out a full credit check via Rent4Sure as part of our application process.  County Court Judgements (CCJs), bankruptcies and Individual Voluntary Arrangements (IVA) will affect the outcome of an application and any undeclared adverse credit will be declined.
 
We may ask for proof that a CCJ or IVA has been cleared by way of a letter from a creditor or the court which issued the CCJ.  This must include the CCJ amount, date or number to prove the debt has been repaid.
 
Move in

On move in you will be expected to pay one months rent and a deposit equivalent to 5 weeks rent. All deposits will be logged and held by the Deposit Protection Scheme (DPS)
 
Late payment of rent

The Agent/ Landlord is entitled to charge interest at 3% over Bank of England Base Rate on any rent or other payment which is not paid on the due date specified herein, from the date on which payment was due to the date of actual payment, both before and after any judgment.
 
Changes to a Tenancy

Should the tenant make a request to alter the tenancy agreement after the commencement date then the Agent is entitled to make a charge of £50.00 inclusive of VAT.   This includes but not limited to a change of sharer in a joint tenancy, permission to add a new occupier.  All such requests remain subject to the Landlord’s approval.
 
Early Termination Fees

The tenant can request to end the agreement early but they must pay the due rent as per the agreement for every day the property is vacant. The landlord’s managing agent is permitted to charge the tenant a fee of £200 plus VAT to advertise and re-let the property, this charge is a reasonable amount in regard to the work undertaken. 

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