Tenancy Fees

What will it cost me to secure a property?

The costs involved in renting a property with Morgan Associates are clearly laid out below, if you have any questions relating to our charges please contact the Lettings Department on 01242 514285 or by email to lettings@morgan-associates.co.uk 

In order to secure a property we take a part-payment in advance which is non-refundable once paid should you decide not to proceed. The holding payment is £250 for properties under £1000 per calendar month and £500 for properties in excess of £1000 per calendar month.
 

First Months Rent

(or part thereof, depending on the move in date / property)
 

+

Security Deposit Equivalent to 1½ months Rent

(refundable at the end of the tenancy, subject to the property being left in a suitable condition)
 

+

Tenancy Application Fee

(this cost will vary depending on the size of the property / number of applicants and is detailed below)
 

-

Less the Holding Payment
 

=

Amount to be paid in cleared funds on the move in date


(either by Cash, Debit Card or Bankers Draft. Credit Cards and Business Debit Cards can be accepted subject to a 2.5% charge. Personal Cheques can only be accepted if received at least 10 days prior to the move in date)

 

Tenancy Application Fees

  • Studio (1 applicant) - £225
  • One Bedroom (1 applicant) - £240 / (2 applicants) £300
  • Two Bedrooms (1 applicant) - £300 / (2 applicants) £350
  • Three Bedrooms (Up to 2 applicants) - £375 / Additional applicant £60
  • Four Bedrooms (Up to 2 applicants) - £366 / Additional applicant £60
  • Five Bedrooms (Up to 2 applicants) - £372 / Additional applicant £60
  • Six Bedrooms (Up to 2 applicants) - £390 / Additional applicant £60
  • Guarantor fee (If applicable) - £60

Other fees that may apply throughout the duration of a tenancy

  • Tenancy Extension (if requested) - £48
  • Tenancy Renewal (If requested) - £75
  • Change of occupation date (prior to signing of agreements) - £60
  • Provision of a written reference - £18
  • Charge for paying by Credit Card 2.5% of the total payment amount
  • Returning a payment (when Standing Order not cancelled) - £24
  • 1st Arrears Letter - £18
  • Subsequent arrears letters - £24
  • Bounced cheque charge - £24
  • Additional copies of tenancy agreement or inventory - £30 per copy (£6 if a digital copy)
  • Checkout Fee (Deducted from deposit) - £36 per tenancy
  • Changing a pre-payment meter (when fitted without permission) - £150
Morgan Associates are part of the National Federation of Property Professionals Client Money Protection Scheme through our membership of ARLA (The Association of Residential Letting Agents)