Estate agents in W2 3SA

Champions' Fees to Tenants

Pre-Tenancy

Holding Deposit: 1 week's rent (non-refundable)

When Champions takes an offer from a prospective tenant and it is agreed with the landlord, Champions will ask for a holding fee equivalent to one week's rent in order to stop marketing the property to other prospective tenants and to begin the referencing and administrative process. This holding fee will only be returned under rare circumstances and as such should be treated as non-refundable.

If the prospective tenant decides not to proceed with the tenancy, the holding deposit will not be refunded. If the tenant fails a Right to Rent check, the holding deposit will not be refunded. If the tenant fails to take all reasonable steps to enter into a tenancy agreement, the holding deposit will not be refunded.

If the landlord decides not to proceed with the tenancy for any other reason, the holding deposit will be refunded.

If the landlord decides not to proceed with the tenancy because the tenant provided false/misleading information or changes the terms of the offer, the holding deposit will not be refunded.

Deposit: 5 or 6 weeks' rent (incl. holding deposit)

Once the referencing process and right to rent checks have been completed, Champions will ask for the balance of the tenancy deposit. Where the annual rent of a property is less than £50,000 per annum (£4,167 pcm), this deposit will be the equivalent of 5 weeks' rent. Where the annual rent of a property is equal to or greater than £50,000 per annum, this deposit will be the equivalent of 6 weeks' rent.

Rent: First installment per terms of offer

The first installment of rent is payable before possession of the property is granted to the tenant.

Mid-Tenancy

Replacement Keys/Fobs

Where the tenant loses a key or security fob or other device associate with gaining access to the property (e.g. garage remote control opener), Champions or the landlord will ask the tenant to cover the cost of replacing the lost key/security device. Expected charges are £7-£10 per key for a standard key, £20-40 for a security key (e.g. Banham), and up to £50 for a fob.

Under some circumstances Champions or the landlord will charge the tenant for the time replacing a lost key or security device at a cost of £15 per hour.

Rent Arrears

Where the tenant's rent has been outstanding for 14 days or more, Champions or the owner will ask the tenant to pay interest charged at the Bank of England's rate + 3%.

Change of Tenancy

Where a tenant requests a change to the tenancy and the tenancy agreement is altered, Champions will charge the tenant £50 incl. VAT.

Early Termination Fee

Where a tenant requests to end the tenancy before contractually permitted, Champions or the owner may ask the tenant to pay reasonable costs incurred by either the agent or owner while finding a new tenant.

Post-Tenancy

The tenant will be responsible for covering the cost to make good any damages/dilapidations to the property at the end of the tenancy. Fair wear and tear will be taken into account. The tenant should consult the guidelines of the deposit scheme with which their deposit is registered.

Champions' Fees to Landlords

Lettings commission - 12% (10%+VAT) of the rent for the contracted period of tenancy

This is chargeable in advance at the commencenment of the tenancy.

Renewals commission - 9.6% (8%+VAT) of the rent for the contracted period of each renewal

This is chargeable in advance at the renewal of the tenancy.

Administration charge - covering referencing, compliance and drawing up of tenancy agreement - £300 (£250 + VAT)

Property management - 6% (5% + VAT)

This is taken from the rent collected at a pro-rata basis.

Sole agency sales fee - 2.4% (2%+VAT) of the sales price payable upon completion of sale

Multiple agency sales fee - 3% (2.5%+VAT) of the sales price payable upon completion of sale

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