Welcome to the Tenancy Fees at Gordon Blair Financial Services. Your trusted partner in property management for London and Streatham. We believe in complete transparency, providing you with a clear breakdown of any fees associated with renting a property through us. Whether you are new to renting or an experienced tenant, understanding the costs involved is essential. Here, you will find detailed information on application fees, security deposits, and other potential charges. At Gordon Blair, we pride ourselves on our fair and professional approach, ensuring there are no hidden surprises. Our dedicated team is always ready to assist you with any questions, guiding you smoothly through the rental process. Trust our expertise in property management to make your renting experience in London and Streatham seamless and hassle-free.
One week’s rent.
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Six weeks’ rent
This covers damages or defaults on the part of the Tenant during the tenancy.
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the Tenant, Landlord any other persons requiring keys will be charged to the Tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking Landlord’s instructions as well as the preparation and execution of new legal documents.
£50 (inc. VAT) per replacement Tenant or any reasonable costs incurred if higher. To cover the costs associated with taking Landlord’s instructions, new Tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Should the Tenant wish to leave their contract early, they shall be liable to pay the Landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Other Fee
Start of Tenancy Fees
Tenancy Set-up (per tenancy) £480.00 (£400.00+VAT) Guarantor reference fee £31.20 (£26.00+VAT) where supporting a failed reference after initial application Company reference fee £30.00 (£24.00+VAT)
During Tenancy Fees
Renewal fee £120.00 (£100.00+VAT), reduced to £90.00 (£75.00+VAT) if paid within 2 weeks of renewal paperwork being sent. Change of sharer £480.00 (£400.00+VAT) Rent Arrears Chaser £30.00 (£25.00+VAT) per letter/email Regent have to send to chase overdue rent.
Early termination Fees
You will be required to pay the outstanding lettings commission owed by your Landlord in the event that you unlawfully terminate the Tenancy before the end of the fixed term/break clause.
End of Tenancy Fees
Check out fee This will be charged by a third party company and will depend on the size of the property and whether or not it is furnished. Please contact us for further details towards the end of the Tenancy. Check-out fees vary depending on the size of the property, from £90 (£75+VAT) to £150 (£125+VAT)
- As a regulated agency, Gordon Blair Financial Services is committed to full compliance with lettings legislation, ensuring that all fees are clearly displayed online and in our offices. This guarantees our clients a comprehensive understanding of rental process costs before beginning their journey with us. All prices are quoted INCLUSIVE of VAT at the current rate.
- We engage a third-party referencing company to carry out thorough background checks on all tenants and occupants of our properties. These reference fees include obtaining references from previous landlords, employment verification, credit checks, and legally mandated right to rent checks in England.
- Our administration fee covers the preparation, exchange, and execution of all tenancy documentation, including the necessary legal notices. Please note that if the tenancy does not proceed due to applicants failing the referencing process or withdrawing their offer for any reason, the fees for referencing and administration will still be due.
- Should there be a change of occupant during the tenancy, landlord consent is required, and a new tenancy must be established with successful referencing. Charges will apply according to the initial ‘start of tenancy’ fee schedule.
- Any unpaid rent is subject to a penalty as outlined in your tenancy agreement. Additionally, we charge an administration fee to cover the costs associated with pursuing overdue rent.
- PLEASE NOTE: At the end of a tenancy, it is the tenant’s responsibility to ensure the property is professionally cleaned. If this is not done, a third-party cleaning agency will be engaged, and the tenant will be liable for the cleaning costs. As these are third-party services, costs cannot be guaranteed and will vary based on the size of the property and the extent of the cleaning required. Unless otherwise stipulated in the tenancy agreement, the tenant is responsible for the cost of the inventory check-out. We use third-party agencies for check-outs, and the costs will vary accordingly.