Tenant Fees Explained
Chelton Brown Fee Information for Prospective Tenants
In addition to the advertised rent, the following fee(s) apply:
For all prospective tenants:
- Single applicant fee - £250 Inc. VAT
- Joint tenancy - £295 Inc. VAT
- Additional applicants (per tenant over the age of 18) - £90 Inc. VAT
In certain situations:
- Guarantor fee* (if required)- £150 Inc. VAT
*A Guarantor may be required if you do not completely fulfill our affordability criteria. The Guarantor fee is in addition to the applicant fee.
Company let fee - £350 Inc. VAT
The fee(s) above cover the cost incurred by Chelton Brown in order to successfully set up the tenancy for you.
This fee(s) is/are payable to conduct your references and other administrative work. Chelton Brown will NOT hold the property until you provide all required documents and successfully pass your references.
The fee(s) is/are NON-REFUNDABLE.
It is therefore critical to provide accurate information about your employment and your financial position BEFORE payment of the fees in order to avoid disappointment at a later stage.
OTHER USEFUL INFORMATION FOR PROSPECTIVE TENANTS
To view/secure any of our properties you must match the criteria below:
- Be in full time permanent employment
- Meet 'Affordability Criteria’ (please see affordability guideline below)
Rent PCM Required income per annum
£500 £15,000 - £16,500
£550 £16,500 - £18,000
£600 £18,000 - £21,000
£700 £21,000 - £24,000
£800 £24,000 - £27,000
£900 £27,000 - £30,000
£1000 £30,000 +
£1500 £45,000 +
£2000 £60,000 +
Following the Chancellors Autumn Statement announcing the ban on letting agency fees for tenants, I would like to confirm that at present, the law has not yet been passed and we believe that the consultation period will only begin in 2017. ARLA (The Association of Residential Lettings Agents) has advised its member agents not to change any fee structure until it becomes clear what the Government has decided their course of action will be. Chelton Brown being members of ARLA, will be led by their decisions.
Recent Industry publications indicate that it will take 12 to 18 months for the consultation period and legislation changes to be made. Until we have further information, it really will be business as usual.
All fees will remain the same until further notice and any unpaid fees will be pursued in the usual way.
Assuring you as ever of our best attention at all times.