At Madison Fox, being open and transparent is important to us and that’s why we publish a full list of associated costs when you’re securing a property through us. It’s always best to speak directly to the consultant that you are registered with to confirm which charges would be relevant for you.
Pre Tenancy(All costs inclusive of VAT at the prevailing rate)
- Tenant Referencing Fee: £78 per person applying for the tenancy and for each guarantor who may be required.
- Tenant Administration Fee: An administration fee of one weeks rent (plus VAT) will be payable to expedite the tenancy in an efficient manner to ensure you can move in as soon as possible including, production of tenancy agreement, (fee shared with landlord), obtaining safety certificates, deposit registration and arrangement of any works requested by the tenant as a part of the letting.
- Security Deposit: All rental properties require a deposit to be taken and held as security throughout the term of the tenancy. It is registered and protected under the Tenancy Deposit Scheme and is returned to you after the end of the tenancy, less any agreed deductions. Your deposit is usually equivalent to one month’s rent. Please note that some Landlords may request a higher deposit which may depend on your circumstances.
- Inventory: Price is based on the size of the property: Studio – £117.60, one bedroom and two bedroom – £150, three bedroom – £162, four bedroom and five bedroom – £168. For any additional room – £18.
During Your Tenancy(All costs are inclusive of VAT at the prevailing rate)
- Tenancy Amendment Fee: Amending terms and updating your tenancy agreement during your tenancy will incur a fee of £180.
- Change Of Occupancy Fee: A fee of 1 weeks rent will be payable in the event that there is a change of occupancy on the tenancy agreement – this is to cover re-referencing and administration costs.
- Tenancy Renewal Fee: If you decide to renew your tenancy agreement after the initial term, there will be a further charge of £120 for the preparation of the tenant’s renewal documentation.
- Late/Returned Payment Fee: For any rent payment made later than the rent due date or any returned payment will incur a £25 fee.
- Early Termination of Tenancy: Should you wish to terminate your tenancy before the end of the term and the landlord agrees that you can terminate early, you will be responsible for the repayment of the pro-rata commission paid in advance by the landlord for the unexpired portion of the tenancy, unless you are exercising a break clause which is contained in your tenancy agreement.
Post Tenancy(All costs are inclusive of VAT at the prevailing rate)
- End of Tenancy Reference Request Fee: If you wish to leave the property you are renting and apply through a different agent they will want us to provide you with a written reference on how the tenancy was conducted. The fee for this will be £30.
- Check-out: Studio – £117.60, one bedroom and two bedroom – £150, three bedroom – £162, four bedroom and five bedroom – £168. For any additional room – £18.
Other fees(All costs are inclusive of VAT at the prevailing rate)
- Provision of Copy Documents: If you require copied documents by email or hard copy, this will incur an administration fee of £30.