My Student Let operate a fair fee structure and we provide a professional service and feel our tenancy fees offer good value for money.
It is important to us to ensure that our Tenant Fees are clear and transparent for all our prospective tenants. You will also find that we have very competitive pricing when it comes to our fees compared to other Landlords and Letting Agents.
The method we use for calculating the weekly price is: (monthly price x 12) / 52, rounded to the nearest pound.
Letting fees information
The information given below is provided to ensure you are fully informed of any fees and costs involved in renting a property through My Student Let or Studios for Students.
£150 - for 1 adult applicant (i.e. per tenant)
£55 - Additional guarantor check
You fee includes:
All application paperwork for full referencing
Online administration service: credit checks, employer reference, landlord reference
One Guarantor reference.
You may be asked to provide a guarantor in some cases. The initial guarantor application is free of charge and included as part of your application fee. If, however, the guarantor named fails his or her application, then a further Guarantor application would be chargeable at £45 per additional guarantor.
£35 for changing any terms that have already been agreed (e.g. changing tenancy start date)
£40 for undertaking Right to Rent review checks where a time limit has been established
Should your tenancy be renewed you will be required to contribute £55 per tenant towards the renewal administration charges, for producing, subject to Landlord consent, a new Tenancy Agreement.
£100 - Assignment of Tenancy Fee
It is not encouraged for the occupants of the property to change during the fixed terms of the tenancy. However, we understand that occasionally there is no choice. In these circumstances: You will all jointly be responsible for finding a suitable replacement. We will seek to obtain rent from the outgoing tenant until the replacement tenant completes the relevant Assignment form. If this is not forthcoming, all remaining joint tenants will continue to be liable.
Once a replacement tenant has been agreed on by the remaining housemates an appointment needs to be made for the completion of the assignment. This needs to be signed by all parties involved to make the document legal. There is a charge payable of £100 to the leaving tenant for this process.
Full payment of deposit, admin fee and first instalment of rent, together with a direct debit mandate will be required for the remaining term of the tenancy. In the interest of the tenants remaining in the property a guarantor for any incoming tenant will be requested.
Other Fees and costs may apply during the tenancy such as late payment fees, charges for lost keys and change of locks etc but all these will be clearly outlined in your tenancy agreement, your terms and conditions and in your tenant handbook.
Other General Fees (if applicable) - payable to My Student Let:
£40 for any aborted pre-arranged visit to the Property, including arranged maintenance visits (less than 24 hours’ notice)
£40 for supplying any written reference to any party
£30 per additional account to allocate any refund of deposit to multiple accounts
£30 for any refund of a Tenancy Deposit by cheque; no charge is payable when the refund is made via BACS
£35 for a replacement copy of the Inventory and Schedule of Condition
£70 each or any Endorsement to the Tenancy Agreement
£35 for any refund of overpaid rent as a result of any failure by the Tenant to cancel the Standing Order Mandate
£35 for bounced/ late rent payments
£25 for reminders letters for late rent to tenant and guarantor (per letter)
Please note: The fees listed above are accurate as of January 2019, fees are subject to change and will be updated via the website.
All fees are non-refundable.