At Open Estates we believe in being open and honest with our applicants about our fees when taking a property. You won’t find any hidden charges with us and we make every effort to keep things easy to make your move as smooth as possible.
The below outlines the fees payable. If you require any additional clarity please contact one of our members of staff (all prices include VAT):
Reservation fee: £200 per tenant. This is payable at the time of completing the ‘Declaration of Offer’ which confirms your intentions to proceed with the property. This will be deducted from the overall balance due for your move in.
Security deposit: This varies from property to property, however normally equates to one and a half months rent.
Tenancy Application fee: £60 per tenant.
Individual Reference fee: £108 per tenant. NON-REFUNDABLE
Individual Guarantor Reference fee: £108 per guarantor (subject to requirement). NON-REFUNDABLE
Company Let Reference fee: £180.00 per company (subject to requirement)
Tenancy Deposit Registration fee: £24.00 per tenancy
Share of Renewal Tenancy Agreement: £75 per tenancy (payable if you renew your tenancy)
Move out fee: £180.00 per tenancy (payable at end of tenancy to Open Estates Ltd)
Share of Inventory Cost: Where an inventory is carried out the tenant will be responsible for a portion of the inventory charge. This charge is included within our move out fee which is payable at the end of a tenancy to Open Estates Ltd.
If you require any further information regarding our fees, or information on our rental procedures, then please do not hesitate to contact us.
If you have reserved a property by giving us a holding deposit then you will also need to fill out our questionnaires for your referencing checks. These can be downloaded, filled out and then emailed back to us. Please click the following links for access:
1. Applicant referencing
2. Guarantor reference
3. The holding deposit terms & conditions
Q. How much is the deposit for a property?
A. The deposit is normally equivalent to one and a half’s months rent, however this can vary and some landlords may require a larger amount.
Q. How much is a holding deposit to secure a property that I like?
A. This is normally £200 per applicant, however this can change from time to time.
Q. How can I make payments to Open Estates for the deposit, rent etc
A. We accept cash however the standard form of payment is bank transfer. We DO NOT accept cheque’s or credit/debit card payments.
Q. What documentation do I need to supply for the referencing?
A. As well as completing our referencing questionnaire we also require the following:
A scan/photocopy of either your passport or drivers license. (If you do not have either of these then please contact us for other possible options.)
Proof of address (in the form of a utility bill in the name of the applicant or bank/credit card statement)
These can either be scanned and emailed to us at firstname.lastname@example.org or faxed to 020 3397 7438.