More about our tenant’s services
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References and Set Up Fee
When you have viewed a property and made the decision you would like to rent it an upfront set up fee of £450.00 inc. VAT is required to secure the property and allow us to commence the checking process.
The set up fee covers the referencing process, preparation of the legal agreement, the registering of the security deposit and all other administration.
We will provide an application form for all applicants over the age of 18 to gather the required information to take up references. The referencing process usually takes a few days after which the success or refusal your application will be confirmed. We will accept an accounts/auditors reference if you are self-employed.
Should you require a Guarantor there will be a £120 inc. VAT charge to cover the cost of additional referencing and administration.
If references are found to be unsatisfactory or you withdraw from the tenancy this set up fee is not refundable.
You will be checked into the property by an Inventory Clerk or the Landlord, who will run through the inventory of the property and pass on any important operational details such as security and central heating systems.
Although the tenant is responsible for paying the Check-In fee, the landlord will be responsible for the Check-Out fee at the end of the tenancy.
Deposits are registered with the Tenants Deposit Scheme and then held by Mackenzie Smith Lettings in a deposit account, as stakeholders for the duration of the tenancy. The security deposit, usually 1.5 month’s rent, will be refunded in full at the end of the tenancy, provided there are no deductions due to outstanding bills or damage to the property.
At the end of the tenancy your security deposit will be returned as soon as reasonably possible, after an agreement has been made between the landlord and tenant on any deductions. Any disputes on the deposit will be resolved by The Disputes service under the Tenants Deposit Scheme. There is no interest payable by Mackenzie Smith Lettings on tenant’s deposits.
Click to view “What is the TDS Scheme Leaflet”
Click to view “Client Money Protection Explained”
We will provide an initial rent demand which will outline all the payments required prior to the start of the tenancy, this includes a month’s rent in advance, security deposit and check-in fees. This must be paid in full by cleared funds by direct bank transfer two working days before the commencement of the tenancy.
Rental payments must be made by standing order and are payable monthly in advance.
Please Note: Prior to the start of the tenancy the security deposit, first month’s advance rent and inventory check in fee must be paid and cleared. Unless cleared monies are showing in our account and the Tenancy Agreement has been signed by all parties, keys will not be released at check in.
Summary of Initial Tenancy Costs
Payable prior to referencing:
Set Up Fee £450.00 inc. VAT; includes taking up of references, drawing up and preparation of legal agreement and all administration involved.
Payable prior to start of tenancy:
The following monies must be showing in our bank account as cleared funds before we are able to hand over the keys.
Guarantor Fee (if required) £120 inc. VAT; includes taking up of references, drawing up and preparation of legal agreement and all administration involved.
Security Deposit usually 1.5 month’s rent (refundable at check-out provided no disputes)
First Month’s Rent in advance
Inventory Check-In Fee detailed below (all inclusive of VAT)
Saturday appointments additional £50 inc. VAT
Tenancy Renewal Fee £90.00 inc. VAT where applicable
Mackenzie Smith Lettings is the trading name of Mackenzie Smith Property Lettings and Management Ltd Registered Number 8538125 England & Wales
Tenants Set Up fees
Tenants Set Up fees are £450.00 inc. VAT per property, plus £120 inc VAT should you require a guarantor. Inventory fees are variable depending on the size of the property. For further information please click here.
What do clients say about Mackenzie Smith?
We are pleased to say we have many satisfied and happy clients, please see our testimonials.