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Fees payable to secure a tenancy through Raylets
Following the ruling by the Advertising Standards Agency (ASA) Raylets are pleased to publish the standard fees for tenant applications:
We routinely carry out personal, tenancy and credit reference checks for which there is a non refundable fee of £225, payable by you as the Lead Tenant. Your fee includes:
- Referencing administration
- Tenancy documentation and
- Check in
In addition, the potential landlord also reserves the right to carry out a Guarantor(s) reference check for which there would be a further non refundable fee of £95, per guarantor, also payable by you. Guarantor references will only be carried out in exceptional circumstances and the fee is for referencing administration and guarantor documentation.
Joint tenants or authorised occupants above school leaving age
If there is more than one prospective tenant then the other tenants and authorised occupants will also be referenced and there is a non refundable fee of £75 per person, payable by you as the Lead Tenant. This fee covers referencing administration.
Property related fees
There is a holding fee of £250 payable when you indicate that you are interested in the property, this is part of your first month’s rent in advance payment and will be non refundable in the event that you do not complete the tenancy for reasons not connected to your referencing.
Late payment charges 8% daily
You will be required to pay a deposit for securing the tenancy, this deposit will be held by the Deposit Protection Service until the end of your period of time in the property. The deposit remains your money but is held as protection as against losses that may be attributed to the tenancy as detailed in the tenancy agreement that you will be required to sign. The amount of the deposit will be indicated in the advert for the property as they are specific to each property. Please note that in the event that you have pets you will be required to pay an additional deposit as security against damage to the landlords property.
In some circumstances we need to charge for monies received from applicants and tenants. Our charges are as follows:
Direct transfer (BACS/Faster payments) - no charge
Cash payments in excess of £250 are charged at 0.075%
ALL FEES QUOTED ARE TOTAL COST
There is no fee on tenancy renewal where we manage the tenancy, unless through a change of circumstances it is necessary to carry out further reference checks. These are then charged at the fee for a joint tenant for each adult occupant