Tenants’ costs

Tenancy Application / References

When a suitable property to rent has been found, we will record the details of your offer and inform the Landlord. If your offer is accepted (subject to contract and satisfactory references) all persons over the age of eighteen will then complete a RENT4SURE referencing application form and provide photographic identification & proof of address. Passports, visas and work permits will be required for non-EU applicants. An administration fee of £144.00 including VAT per person or £250 including VAT for a company is required to reserve the property and remove it from our available list (please note, this administration fee does not oblige the Landlord to let, nor does it create or constitute a Tenancy Agreement between the Tenant, Landlord or Landlord’s Agent). The charge is levied towards costs for processing references and administration. Please note this fee is non-refundable should you wish to withdraw your offer or should we receive unsatisfactory references. If a Guarantor is required a further administration fee of £60.00 including VAT will be payable for processing references and preparing the Guarantor Agreement.

Deposit

The equivalent of one and a half months’ rental is required, before the start of the tenancy, payable to Waterfalls Residential Lettings Ltd in cleared funds (bankers draft or bank transfer. Cash is only acceptable up to £500). If you have a pet, an additional half a month’s rent may be charged as a pet deposit at the Landlord’s discretion. The deposit will normally be held by us as stakeholders, but please check the Tenancy Agreement before signing the same. Should a dispute arise at the end of the tenancy, no monies can be released until both parties have agreed or a decision is made by the Tenancy Dispute Service. In most cases, however, where no dispute exists, the deposit will be returned (repaid by BACS) as soon as possible after the expiry of the tenancy.

Rent

Payable monthly in advance unless separately negotiated by one Standing Order. Rent is paid from your bank account 3 days prior to your rent due day to ensure funds reach us/your Landlords account on the rent due day. The rent is not inclusive of any bills unless separately negotiated.

Tenancy Agreement

Before the tenancy begins you will sign a Tenancy Agreement setting out the Landlord’s and Tenant’s obligations. A charge of £180.00 including VAT is made for the preparation of the Agreement. Please note all tenants named on the Tenancy Agreement must sign the necessary documentation before commencement of the Tenancy and keys will not be released until this is the case.

Check In

The tenants are required to attend an inventory check in at the property where the keys will be released to you. The Tenants are responsible for the inventory clerk’s ‘check-in’ charges, which start from £66.00 including VAT depending on the size of the property and whether it is unfurnished or furnished.

Renewal / Extension

If the term of the original agreement is extended there will be a charge of £120.00 including VAT to cover the cost of preparing documentation, for each and every extension or renewal.

Check Out

On expiry of the tenancy the inventory will be checked against the current state of the property to determine any damages. The Tenant is responsible for the inventory clerks ‘check-out’ charges, which start from £90.00 including VAT depending on the size of the property and whether it is unfurnished or furnished.

Additional Charges

An administration charge of £25 including VAT will be applied for all late payment of rent.

If there is a change of tenant in a shared property only during the tenancy a fee of £300 including VAT will be charged.

Should the tenant require additional copies of their tenancy agreement, check in, inventory or check out a cost of £15.00 including VAT will be charged for each copy.

If a tenant requires Waterfalls to provide a reference for any future tenancy, there will be a charge of £25.00 including VAT.

Insurance

It is a requirement that tenants insure their contents prior to the commencement of the tenancy as the Landlord’s insurance policy will not cover any personal belongings or items of furniture or equipment belonging to the tenant.

Emergencies

Tenants, in an out-of-hours emergency, please click here: https://www.waterfalls.co.uk/emergencies/