When your offer has been accepted by the Landlord, subject to contract and acceptable references, the following process and fees apply before the commencement of the tenancy:
The administration costs will include:
- Preparation of the tenancy agreement: £120 (inclusive of VAT)
- Referencing fees: £120 per tenant/guarantor (inclusive of VAT). Company references may be more.
- There will be an Inventory check-out cost at the end of the tenancy, which will vary depending on the size of the property (this should be between £100 and £300, but may be more for larger properties). For more information on this, please speak to us.
- John Wilcox & Co cannot accept payment of either rent of fees by credit card.
- John Wilcox & Co does not charge administration fees for renewals.
Usually the equivalent of two weeks’ rent (depending on offer). Should the Tenancy not go ahead due to the decision of the Landlord, then the holding deposit is fully refundable. Should the Tenant pull out, the deposit is forfeit.
Usually the equivalent of six weeks’ rent (or sometimes more if the property has exceptional furniture or there are pets involved). This is usually held by John Wilcox & Co as stakeholder in a bonded client account allocated to the Tenant and is registered with the Tenancy Deposit Scheme. It is only released once dilapidations (if any) have been agreed by both the Landlord and the Tenant at the end of the tenancy (and within the boundaries set by the TDRSA if the tenancy is an Assured Shorthold Tenancy).
Always paid in advance by standing order either monthly, quarterly, six monthly or annually subject to negotiation.
We use a credit referencing service to give the Landlord an overall assessment of the Tenant’s background. They will all need to be approved by the Landlord before the start of the tenancy. The Tenant is responsible for the costs of the references, even if, as a result, the Tenant is rejected by the Landlord. You also need to supply us with a copy of your passport or driving licence (photocard) and a copy of a utility bill. The cost of referencing is £120 (inclusive of VAT) per tenant/guarantor. Company references may be more.
We will organise for an Inventory Clerk to prepare and check in an Inventory at the time the Tenant takes possession of the property. The purpose of this is to record the condition of the property at the start of the tenancy. This will be used against the Inventory check-out at the end of the tenancy. We usually recommend that you, or your representative, attend both the check-in and check-out. The cost of this is split between the Landlord and the Tenant. The Landlord will pay the cost of the check-in. The Tenant will pay the cost of the check-out, which should be between £100 and £300, depending on the size of the property. Please note that for larger properties, the cost may be more. Please speak to us for further information on this.
The Tenant is responsible for all the utilities in respect of the property unless these are already included in the Landlord’s service charge (e.g. communal heating), these include electricity, gas (if applicable), water and council tax. Meter readings will be taken at the time of the inventory check-in. The tenant is also liable for all costs associated with any telephone service (the provider needs to be contacted directly). If you have a television (even if supplied by the Landlord) you will have to pay the television licence fee and for any cable or satellite service. If there is a burglar alarm/security system, any monitoring charges would usually be payable by the Tenant as well as the callout charges if the alarm is accidentally activated.
The Tenant’s own possessions are not covered by the Landlord’s insurance policy. You should have a Tenant’s contents insurance policy for your own possessions.
We will inform you as to who will be managing your property, so that you will have a point of contact in case of an emergency (e.g. a leak). In the case where we manage your property you will have a professional property manager allocated to you. We will also provide you with emergency contact numbers for disasters that occur outside office hours.
It is the Tenant’s responsibility to return the property in the same condition as at the start of the tenancy and to have had it professionally cleaned.