Tenants - Fees

 
We like to take care of our tenants – and this starts well before the tenancy. Please find a guide below to help you understand the financial obligations of the tenant.


 

Administration fees

An administration fee of £375 plus vat, totalling to the price of £450 will be payable upon creating of the tenancy which is a binding contract. Preparation of tenancy agreement and referencing (when using a Princess Park Estates agreement) is £450 per tenancy.

 

References

All applicant references are undertaken by an independent specialist referencing company. We will also require additional references from all tenants such as an employer letter, 3 months’ bank statements, 3 months’ payslips, passport copy and a proof of address. These documents will be required alongside the professional referencing company report. In order to carry out professional referencing we will need you to fill a tenant application form and we will pass this onto a third party company to obtain a professional referencing report.

 

Renewal of tenancy

Please contact us in advance if you wish to extend your tenancy. If the tenancy is renewed there will be no further fees for yourself. This service is a free service for all tenants.

 

Payment of rent

The first instalment of rent must be paid in cleared funds when you sign the tenancy agreement. Thereafter, rent is payable by standing order (unless agreed otherwise) to arrive on the due date as stated in the tenancy agreement.

 

Deposit

A deposit equivalent to six weeks' rent must be paid in cleared funds when you sign the tenancy agreement and is held by Princess Park Estates as Stakeholder for the duration of the tenancy in accordance with the terms of the tenancy agreement and where applicable Princess Park Estates will register the deposit monies with a deposit protection scheme on the landlord's behalf.


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