Martin & Co believes that
all who apply for a tenancy should understand all of the fees that they may be
required to pay.
Every Martin & Co local office will provide a bespoke written
quotation of all the tenant fees which could become payable. Some fees will be
specific to the circumstances of an individual or a particular property but we
aim to keep things as simple as possible.
The fees quoted below include VAT at the prevailing rate.
When applying for a property, the Martin & Co local office will charge a referencing fee based on the number of applicants to live at the property and whether a guarantors reference is required. Please note that should your references not meet the criteria set by the independent referencing agency, our application be declined by our clients, or should you withdraw your application, or otherwise not progress your application within seven days of having been requested to do so, your application fee cannot be refunded.
A fee will be payable to the Martin & Co local office for producing your tenancy agreement. This fee will vary with the type of tenancy required and whether our client (the landlord) is using our agreement or sourcing from elsewhere. This fee will only be payable when you are ready to sign the tenancy agreement and move in.
In some instances you may need to provide a guarantor who underwrites your financial commitments under your tenancy agreement. If your reference score necessitates a guarantor, the Martin & Co local office will charge an additional fee.
In advance of a tenancy commencing, some Martin & Co local offices may ask you to pay a sum in advance of your tenancy to demonstrate your commitment to taking the property so that it is not shown to others whilst your application is being processed. This will be proportional to, and never more than a month's rent. If your application is successful and you proceed with the tenancy, this holding fee will be credited to your account and will be off set against the total cost of renting the property. If you withdraw or fail to progress your application, then the Martin & Co local office will retain a proportion of this sum to reflect the work which has already been done by them to progress your application.
You will be asked to pay the rent, deposit and the balance of any fees in cleared funds prior to moving into a property. The Martin & Co local office will provide you with details of all their accepted payment methods, however some payment methods such as credit cards may incur a cost, which can range from 0 to 3% of the transaction value.
If you intend to have a pet residing at the property and the landlord has granted written permission, there may be a cost associated. Depending on the circumstances of the pet, the property and the landlords requirements, this may take the form of a larger security deposit to offset possible additional cleaning, or may simply be a one off fee for adding appropriate clauses to your agreement.
In most circumstances when you move into your rented property, you will be given an Inventory and Schedule of Condition, which documents in detail the contents and condition of the property at the start of the tenancy, as part of our commitment to fair deposit adjudication. The local Martin & Co office may arrange for an inventory clerk to attend the property as you prepare to move in to agree with you the detailed content of this document in a process called a check in. Similarly an inventory clerk will attend the property to record the contents and condition found at the end of the tenancy in a process called a check out. Inventory clerks will charge for this process in proportion to the scale and contents of the property in question. The local Martin & Co office will be able to tell you the cost for the subject property prior to your application.
Towards the end of the initial term of your tenancy, you may be offered an opportunity to renew your tenancy for a further fixed term. The Martin & Co local office will advise you of this at the time, including full details of any costs of creating a new agreement and executing the legal documents.