Renting a property through North West Lettings LLP. Once you’ve found your new Property and you offer has been accepted, we’ll prepare the tenancy agreement and organise References to prepare move in. Tenancy charges may vary depending on the agreement we have with the landlord, so it’s best to ask the North West Lettings LLP office dealing with your offer for a full breakdown of costs. NORTH WEST LETTINGS LLP DO NOT CHARGE TENANCY ADMINISTRATION OR AGENCY FEES TO TENANTS IN ORDER TO RENT A PROPERTY THROUGH US, IN LINE WITH THE TENANT FEES ACT 2019. Part Holding Deposit A holding deposit equivalent to 1 week worth of rent is payable upon your offer and pending application being accepted. For example, if your rent is £750 per calendar month, the holding deposit would be £170 (750 x 12 months, divided by 52 weeks in year, rounded down to the nearest £5.) Referencing process Once the holding deposit has been paid, we have 15 days to complete the referencing on all applicants and guarantors and give a decision on whether your application has been accepted in full or declined. Full Holding Deposit – which becomes the Insured Deposit once the tenancy has legally started Once the referencing has been completed, the remainder of the holding deposit, which is equivalent to 5 weeks rent in total, must be paid. Where applicable, North West Lettings LLP will register the deposit monies with a deposit protection scheme on the landlords’ behalf. We reserve the right to request additional deposit funds under certain circumstances (for example if it has been agreed you can keep a pet in the property). Check in and Check out NORTH WEST LETTINGS LLP DO NOT CHARGE TENANCY ADMINISTRATION OR AGENCY FEES FOR EITHER OF THESE PROCESSES IN LINE WITH THE TENANT FEES ACT 2019. Changes to your tenancy If you request to terminate your tenancy agreement prior to the tenancy end date, an administration fee as standard of £550.00 will be payable, this amount will never be more than the remaining rent due on the contract (For example, if there is only 2 months left on your contract and the rent is £375 a month then the fee will be amended). Upon receipt of cleared funds of this payment, we will start advertising the property, arrange viewings of the property, and confirm when a replacement tenant has been found to take over the tenancy. You will remain liable for payment of pro-rata rent for the property paid in advance, until a new tenancy has commenced. If the property has not been let by the final month of your tenancy, the fee will be refunded to you and the tenancy will expire on the original tenancy end date. Renewal of your tenancy NORTH WEST LETTINGS LLP DO NOT CHARGE TENANCY ADMINISTRATION OR AGENCY FEES TO TENANTS TO RENEW THEIR TENANCY, IN LINK WITH THE TENANT FEES ACT 2019. Payment of rent The first months’ rent is payable in cleared funds prior to, or at least 1 hour before, the tenancy start date, all subsequent monthly rent payments are to be paid by standing order unless otherwise agreed. For tenancies signed prior to 1st June 2019, an administration fee of £50.00 is chargeable for every 7 days the rent is late. For all tenancies signed from 1st June 2019 onwards, interest will be charged in line with the terms of your signed tenancy agreement and the Tenant fees Act 2019. Taxation If your landlord is resident overseas and you pay rent directly into their account, you will be responsible for applying the provisions of the HM revenue and customs non-resident landlord’ scheme for taxing UK rental income. Changes to fees North West lettings LLP reserves the right to amend the schedule of fees and terms of business upon providing reasonable notice in writing