Tenant Application Process:
Propertynest will not charge any administration fees until the landlord of the property being applied for has provisionally approved an application subject to referencing.
The cost per applicant is: £150 inc vat (£125 plus vat) per applicant
Once an offer has been provisionally accepted, we will request payment of your application fee along with a holding deposit. The holding deposit normally equates to half a month’s rent which is offset against the remaining balance due, however occasionally we may require a higher holding deposit dependent on the circumstances. E.g. the length of time between reserving the property and the proposed check in date.
A tenancy cannot be completed until the agreed first month’s rent, bond and administration fees are paid in full. On occasions, the landlord may request a guarantor and should this be required, the cost of this is £50.00 including vat. The holding deposit is non-refundable should following referencing, it is discovered that key material facts have been omitted or prove false which then leads to the Landlord declining your application.
By paying the holding deposit, the property you have reserved will be taken off the market and all future viewings cancelled, and it is therefore deemed fair that the tenant will receive no refund should they later decide not to take up the tenancy or fail to move in on the agreed proposed check in date.
Should the Landlord decide against proceeding with the tenancy, the tenant will receive a full refund of all monies paid. At the landlords discretion, they can make it a condition of the tenancy to ensure the tenant has taken out correct insurance which covers the Landlords contents, fixtures and fittings against accidental damaged caused by the tenant. It is important for tenants to check with their insurance provider that their policy includes this specific cover.
In some cases, Landlords will wish to renew the tenancy for a further fixed term period which will give both parties security, at which point tenants will be required to contribute £50 inc vat in total to complete this process.