At OX Online Estate Agents we know that tenants have enough costs to pay when moving to a new home, paying the deposit, first rent in advance, moving costs, etc. and you therefor don’t want to have large, difficult to calculate, fees to pay to your new letting agent at the start and throughout your new tenancy.
That is why we make our charges as simple as possible by ensuring that there aren’t lots of different things to charge for, just clear and simple charges as follows:
Permitted Payments
Before the tenancy starts:
- Holding Deposit: Maximum 1 week’s rent (calculated by taking the monthly rent and multiplying it by 12, then dividing the result by 52 weeks)
- Deposit: Maximum 5 week’s rent (for annual rent below £50,000)
During the tenancy:
- Payment of £50 if you want to change the tenancy agreement
- Payment of interest for the late payment of rent at a rate of 3% above the Bank of England’s base rate
- All reasonably incurred costs for the loss of keys/security devices
- Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy
- All bills including (but not limited to) utilities, council tax, communications and media services and tv licence
Other permitted payments:
Any other permitted payments, not included above, under the relevant legislation including contractual damages.
Tenant protection
OX Online Estate Agents is a member of Property Redress Scheme PRS which allows tenants to escalate a complaint they have against the member of the scheme. The main purpose of the redress scheme is to resolve or settle unresolved complaints from consumers who have suffered a loss as a result of the actions of the member.
Referencing
- Affordability – Our referencing procedure includes a calculation of affordability. This is based on your guaranteed gross annual income/pension, savings or a combination of them both (please note, commission, bonuses, overtime and zero hour/agency/temporary contracts and any other income that is not be guaranteed cannot be taken into account).
- Rental History – We will seek a positive reference from your previous landlord (if applicable). We will look to ensure that you have paid your rent on time and in full, that you have behaved in a good tenant-like matter throughout your tenancy, and that there is no reason why another landlord should not rent to you.
- Credit History – We will obtain your credit history. This includes your credit score and any adverse credit registered against you. You must declare any credit history issues.
We recommend that all applicants check their credit history with a reputable credit firm before making an application, such as checkmyfile (30 day free trial, then £14.99 per month, cancel anytime, opens in new window). This is NOT compulsory.
- Housing Benefit, Students, Credit History Issues or if you’re under the Minimum Income – If you’re unable to reach the minimum income, in receipt of housing benefit, have poor credit history or are a student, you can still apply but will probably need a working guarantor(s). Guarantor(s) need to earn at least 3 times the annual rent, you can use more than one.
- Right to Rent Checks – Landlords are required to check that all occupants over the age of 18 have the legal right to rent in the UK.
Free End of Tenancy Reference
At the end of your tenancy, there are no further charges for getting a reference from us or being checked out.
So as long as you have left your property in the same perfect standard you received it in, you can leave with a smile and all of your money.
You will be subject to fair deposit deductions if you have damaged your property or not handed it back properly cleaned or maintained. We reserve the right to charge 10% of the cost of any deductions from your deposit towards our costs in arranging and overseeing the works required.
If you have any questions about these fees or anything else, please don’t hesitate to contact us.
