This fee is payable by each tenant over the age of 18 who will be residing at the property and covers a credit check, referencing by an independent referencing company resulting in a positive report and including a guarantor if needed, agreeing the terms of the tenancy on behalf of the Landlord, generating the Assured Shorthold Tenancy Agreement and associated check in documentation, setting up the standing order for rent payment and setting up initial contact with energy suppliers on your behalf. Please note: once the referencing process has started this fee is non-refundable unless the Landlord declines the tenancy. We will hold the property for a month and following a satisfactory reference we would expect you to check into the property during that time.
Along with the administration/referencing fee we ask that you pay a holding deposit which takes the property from the market pending the referencing process. This holding deposit is an advance on the rent and is refunded following a satisfactory reference. As a result it is deducted from the balance payable prior to your check in. Please note: once the referencing process has started this fee is non-refundable unless the Landlord declines the tenancy. We will hold the property for a month and following a satisfactory reference we would expect you to check into the property during that time.
At Redrose we believe that you should be able to continue to rent your property at the end of your fixed term agreement and move onto a rolling month by month statutory periodic tenancy with no costs at all. We do not charge an additional amount for a check in, nor do we charge you to check out of your property. Some letting agents even charge you to produce an inventory for the property you’re moving into, we will never do that.
When you have decided that you would like to secure a property, we will ask you to read and sign a holding deposit receipt form. This document will list the various fees, rents and deposits payable as well as inform you of your obligation as an applicant. Below are our standard fees for securing a property through Redrose.
|Tenant Fee||VAT||Total Fee|
|Administration & Referencing Fee||£175||£35||£210|
Additional fees which may be applicable to some tenants
|Amendment Fee (Tenancy Agreement)||£100||£20||£120|
|Extension Fee (if requested)||£100||£20||£120|
We will always ask for a £100 holding fee for the duration prior to the check in process, this is to safeguard the landlord for any applicants that may pull out of the process. As long as you successfully check into the property, this £100 will be reimbursed.