To reserve a property an administrative Service Charge equivalent to 42% (35% + VAT) of the agreed monthly rent will become payable (subject to a minimum charge of £240.00 (£200.00 + VAT). This is a one-off charge per property and is only refundable if the Landlord should not proceed for any reason. There is no additional charge should a guarantor be required. In the event that your application is declined due to unsatisfactory references, the Service Charge will not be refunded.
Your Deposit will be a minimum of 150% of the monthly rent agreed (i.e. for a rent of £500.00 per calendar month the deposit would be a minimum of £750.00). All deposits will be held in accordance with the provisions of the Tenancy Deposit Schemes as set out in the Housing Act 2004. The Tenant will be required to sign a Standing Order for the ongoing payment of the rent which is to be paid monthly in advance. For tenants of ‘Managed Properties’, the rent will be paid on the first day of each month and therefore an apportioned rent may be payable - please check with Milburys for confirmation of amounts. We do not charge renewal fees.
For all ‘Managed Properties’ (and in some instances, 'Non-Managed Properties'), The Tenant will be liable for the cost of the ‘Check-In’ which is carried out by an independent inventory company. This fee is dependent on the size of the property and will range from £65.00 - £165.00 (No VAT).
VAT is calculated at the current rate of 20%. January 2016.