Below is a breakdown of all the associated costs required in advance related to letting a property through Hodders:
Preliminary Payment: We will take a preliminary payment to reserve the property and remove it from our availability list, subject to contract & references.
- Typically the equivalent to 1 weeks rent. (Please note on some occasions this may vary dependant on the Landlord) For student rentals, a preliminary payment equivalent to one month’s rent is required to reserve the property.
Please note that this fee is non refundable should you decide to withdraw your offer of tenancy or should we receive unsatisfactory references. Acceptance is subject to contract and references. This fee does not oblige the landlord to let, nor does it create a Tenancy Agreement between both parties. This fee is deducted from the completion money upon signing the tenancy agreement and is put towards the first month’s rent.
ADMIN FEE: Our administration charges are calculated per tenant or guarantor. The fee for the first tenant is £288.00 (£240+VAT), any additional tenants or guarantors are charged at £108.00 (£90.00+VAT). These fees are payable upon signing the Tenancy Agreement. This fee includes the cost of the Tenancy Agreement, Prescribed Information and Legal Notices. This fee also includes the cost of registering the deposit with the Deposit Protection Service, for which a certificate will be provided after commencement of the tenancy. A charge of £90.00 (£75.00+VAT) will apply if pets are included onto the Tenancy Agreement. For student rentals, an administration fee of £150 + VAT (£180 inc. VAT) per tenant is payable.
REFERENCES: All tenants and guarantors will be referenced and charge of £60.00 (£50.00+VAT) per application will apply.
SECURITY DEPOSIT: The equivalent of a month and a half rent is required.
TENANCY AGREEMENT: A Tenancy Agreement will be drawn up for a minimum period of twelve months with a mutual break clause at six months. Please note that all named tenants on the Tenancy Agreement will be required to sign all documents prior to commencement of the Tenancy.
RENT: Is payable monthly in advance by Standing Order from one bank account only. If for any reason monthly rent is paid by debit/credit card a £50.00 charge will apply.
EXTENSION/RENEWAL: Once the fixed term has expired the tenancy will be renewed and a charge of £120.00 (£100+VAT) will be payable. This fee includes preparation of the new Tenancy Agreement and is charged for each and every extension or renewal.