Property Letting Fees and Payments - Tenants

 

Payment Required Prior to Starting a Tenancy

 

Holding Deposit to Secure a Property: The equivalent of one week’s rent, deducted from the balance of the first month’s rent. This amount will be displayed on the marketing particulars of the applicable rental property.

 

Remaining Balance of First Month’s Rent: Payable after paying the Holding Deposit and prior to the mutually agreed Tenancy start date. This amount will be displayed on the marketing particulars of the applicable rental property.

 

Security Deposit: Payable after paying the Holding Deposit and prior to the mutually agreed Tenancy start date. This Security Deposit will either by lodged by David’s Homes with the Deposit Protection Service or paid to the Landlord of the rental property as stated on the Tenancy Agreement. This amount will be displayed on the marketing particulars of the applicable rental property.

 

Fees Payable During a Tenancy

 

Late Payment Fees: The Bank of England’s base rate plus 3% APR. For example, a 30-day late payment of rent of £600, at a Bank of England base rate of 0.75%, plus 3%, would result in a charge of £1.85. Invoices for late payment fees will be issued every 30 days. A Late Payment Fee will be payable for each 30 day period that payment is late.

 

Methods of Payment:

 

All payments to David’s Homes are to be made by BACS transfer. Details of the account for which payments are to be made into will be provided alongside any request for payment.

 

 

Letting and Property Management Fees - Landlords

 

Fees:

 

Tenant Find Service, inclusive of Tenancy Agreement: The equivalent of Three Weeks Rent plus VAT of the respective property. This Fee will be deducted from the first month’s rent, which will be collected by the Agent, and the balance paid to the Landlord.

 

Property Management: 10% of the achieved monthly rental income, plus VAT. This Fee will be deducted from the monthly rental income, which will be collected by the Agent, and the balance paid to the Landlord.

 

Out of Hour Call Out Fees: £120.00 plus VAT for the first half hour that the agent is required to attend, plus an additional £60.00 plus VAT for each additional half an hour that the agent is required to attend. This Fee will be deducted from the monthly rental income, which will be collected by the Agent, and the balance paid to the Landlord.

 

Tenancy Renewal, inclusive of new Tenancy Agreement: The equivalent of Two Weeks Rent for the respective property plus VAT. This Fee will be payable by the Landlord upon receipt of an invoice.

 

Methods of Payment:

 

All payments to David’s Homes are to be made by BACS transfer. Details of the account for which payments are to be made into will be provided alongside any request for payment.