Not all of Kings' fees and charges are standard to each tenancy - an interested Applicant must ensure he/she makes full enquiries with Kings before arranging to 'view' a particular property.
However, in order to comply with current Advertising Standards guidelines, the following is a general overview of typical charges/costs the intending Tenant must consider before applying for a Tenancy via Kings. Whilst many of our customers have commented that Kings’ charges are “very competitive” against other local Agents, these are laid out hereunder to assist comparisons.
Subject to possible change/additions, generally an applicant Tenant will need to budget for the following initial costs:
One month's rental in advance (collected via Kings, on the Landlord's behalf).
Deposit: (normally equivalent to 1.25 x 1 month's rent) - usually held by Kings, in a Government-approved Scheme.*
Kings’ fee (an expenses charge, payable by the Tenant/occupier in connection with the presentation of the Agreement documents and the Inventory, and in respect to Kings’ general associated disbursements): equivalent to 45% [plus VAT] of one month’s rental (capped, for rentals over £1335pcm).
'Credit check' fee: payable per applicant, paid in advance and upon Kings' acceptance of an Application.
Inventory 'Check-in' charge (dependent upon the size/content of the property and the independent Inventory Clerk’s prevailing fees – this sum is that which an Independent Inventory charges - please ask Kings for approximate current contractor's costs). The Landlord will normally pay for the 'Check-out' charge.
Note:* If the Deposit is held by Kings, a £25 plus VAT (total £30) charge is made for administering the Scheme's Registration procedure. A comprehensive list of charges is shown here.
All fees and charges are subject to the addition of VAT, at the prevailing rate.