Strutt & Parker has prepared this guide to inform you of the procedures and requirements relating to a Tenancy. Once you have decided to put forward an offer to let a property you are required to read and acknowledge this guide and pay a reservation fee. Strutt & Parker is a trading style of bnp Paribas Real Estate Advisory & Property Management UK Limited, a private limited company registered in England & Wales (with registered number 4176965) and whose registered office is at 5 Aldermanbury Square, London, EC2V 7BP ('Strutt & Parker').
We are a member of the Royal Institution of Chartered Surveyors (“RICS”) (with membership Number 007555) and subscribe to the RICS Clients’ Money Protection Scheme. Independent redress is provided by the Ombudsman Service (os:P).
After an offer is accepted by the Landlord, subject to contract and acceptable references, reservation fee equivalent to two weeks rent will be payable; this sum will be deducted from the total monies due prior to move-in.
Please note that these charges do not constitute a holding deposit and do not guarantee that a Landlord will grant you a Tenancy. Once the Reservation fee has been received and cleared, the property will be suspended from the market for an agreed period of time (subject to Landlord agreement) while references are being processed and Tenancy agreements prepared. Providing the references are satisfactory and concluded these will be sent on to the Landlord for their perusal. Should they be agreeable to the terms of the offer and grant a Tenancy, further pre move-in preparations will progress.
The administration charge equal to the tenancy agreement charge of £222 (inc VAT @ 20%) plus the cost of the references (see below) is non-refundable should you decide to withdraw from the proposed Tenancy, if your references prove to be unsatisfactory, or if you are unable to proceed in accordance with the terms you have accepted or your original offer. This extends to any misleading information contained on your application forms including your credit reference applications. If the Landlord declines your offer or decides not to proceed with a Tenancy then a refund will be offered to you in full and best endeavours made to find alternative properties if further applications can be supported.
Summary of Tenant charges
2 weeks rent (deducted from the pre move-in invoice*)
Tenancy agreement £222 (inc VAT)
Individual £54 (inc VAT) per application
Guarantor £54 (inc VAT) per application
Company £90 (inc VAT) per application
Change of Tenant (mid Tenancy)
Deed of assignment £222 (inc VAT)
Deed of surrender £114 (inc VAT)
Deed of variance £114 (inc VAT)
Credit references please refer above
Renewal memorandum document £114 (inc VAT)
Renewal Tenancy agreement £222 (inc VAT)
Between 1.5 and 2 months (depending on circumstances)
Inventory Check Out
Dependent upon property size:
1 Bed £100-160
2 Bed £115-175
3 Bed £135-200
4 Bed plus £155 -320
Rent Usually monthly/quarterly/six monthly/annually in advance and subject to negotiation. Rent is 'Pure Rent' and does not include any services such as council tax and utilities. Monthly rent is calculated as follows; £weekly rental x 52 divided by 12 = monthly rent
All charges are inclusive of VAT at the prevailing rate. All Tenancy agreements and Renewal memorandum documents
represent a share of the cost, the balance of which is payable by the Landlord.