Lettings

Lettings

Tenants 

At Property Exchange UK, we let and manage a wide variety of properties for rent throughout our branches. We are members of the DPS (Deposit Protection Service) and all security deposits are held in a designated Client Account and are fully bonded.

Please keep in mind that a range of checks on all prospective tenants will be carried out and we will require one months rent and one month’s rent paid in advance on moving into your new home.

Letting fees information

What fees can I expect to pay if I rent a property with Property Exchange?

Upon you deciding on the property, Property Exchange will provide you with a Tenancy Subject To Contract form which lists the services we provide and the fees that are payable.

Current fee scales are shown below. At any time you are interested in a property, please ask a member of Property Exchange for a full breakdown.

Fees can be subject to change please confirm in branch.

 

Fees apply: *All fees include VAT

One month’s security deposit (Tenancy Deposit Protection)

One month’s rent in advance payable upon your moving in date

Referencing Fee £100 per adult over the age of 18 who will be living at the property

Guarantor Referencing Fee £100 (if applicable)

Pet Deposit:- £100 (if required)

Administration fee £75

 

Before any tenancy begins you will sign a Tenancy Agreement setting out the landlord’s and tenant’s obligations.

Should you change tenants at any point during the tenancy you must inform us and, subject to the Landlords agreement (which may include the need for new referencing fees) we will prepare new documents for signature. Our fee for this will be £75.

Tenancy Deposit Protection via a Government approved scheme.  This is to ensure that if disputes arise these will be resolved by an independent third party. Within 30 days of paying your deposit your landlord or agent is required to give you details of the scheme.

Property Exchange is a member of The Property Ombudsman

Any complaints made towards Property Exchange can be addressed to:

The Property Ombudsman

Milford House,

43 – 55 Milford Street

Salisbury

Wiltshire

SP1 2BP

 

Landlords

Letting Only Service: Property Exchange UK charges £275 + VAT  (£330)upon finding a tenant which includes; marketing of the property, credit and referencing checks, tenancy agreement, collecting of deposit which will be lodged with the appropriate deposit service and collection of first rent in advance of which any fees payable to Property ExchangeUK will be deducted.  If you would like Property Exchange UK to prepare a list of content and basic state of the property the cost of this will be dependant on the size of the property.

 

Letting & Management Service: Property Exchange UK charge £275 + VAT (£330) upon finding a tenant plus commission at 10% + VAT (for example on a monthly rent of £450 this would be £45) which includes; marketing of the property, credit and referencing checks, tenancy agreement, collecting of deposit which will be lodged with the appropriate deposit service and collection of rent, administration of property, any fees payable to Property Exchange UK will be deducted.  If you would like Property Exchange UK to provide a list of content and basic state of the property the cost of the this will be dependant on the size of the property.

 

Letting & Rent Collection Service: Property Exchange UK charge £275 + VAT (£330)upon finding a tenant plus commission at 8% + VAT (for example on a monthly rate of £450 this would be (£36) which includes; marketing of the property, credit and referencing checks, tenancy agreement, collecting of deposit which will be lodged with the appropriate deposit service and collection of rent, any fees payable to Property Exchange UK will be deducted.

 

Management Take Over Service: If instructed to do so Property Exchange UK will take over management of a property with the tenant/s in-situ Property Exchange UK charge 10% + VAT of the total rent payable (for example on a monthly rent of £450 this would be £45).  Property Exchange UK will also charge a take over fee of £150 + VAT (£180) which includes; new tenancy agreements, collecting of deposit which will be lodged with the appropriate deposit service and collection of rent, any fees payable to Property Exchange UK will be deducted.  Should the property become vacant then the terms for Letting & Management Service will apply as stated above.

 

ABORTIVE FEE

Should the Landlord, after agreeing the let (whether verbally or in writing) withdraw, they will be charged the minimum fee for the tenancy.  This totals £225 + VAT (£270) This will not apply should the tenant fail referencing.