Our Fees

It’s our policy to be totally transparent with our fees for both our landlords and tenants.

Landlord Fees

Letting your property doesn’t need to be complex. We offer a fee structure to our Landlords that is clear and transparent.

No Tenant, No Fee! No matter what level service you require from us, or the kind of property that you own, there is always no fee to pay until we find you a tenant.

We offer a range of services tailored to your individual requirements and depending on the kind of property or properties that you own. We can also provide a list of extra services including:

  • Energy Performance Certificates
  • Landlord Gas Certificates
  • EICR
  • Rightmove Premium Property Listing
  • Hot Properties Email
  • Refurbishment Project Management
  • Installation of Master Key Locking System

Tenant Fees

At HOP, we do not charge any application, referencing, guarantor or renewal fees.

To reserve a property, all we require is a Holding Deposit of one week’s rent. This will reserve the property for you, for up to 15 days whilst we complete your Tenancy applications and will go on to form part of your Deposit, that will be held by the TDS.

Please be sure to ask whether the property you are applying for is managed by HOP as all Managed Tenancies receive a friendly, down to earth and personal service, as well as a swift maintenance response.

Where the property is managed by HOP, we will negotiate and agree terms with the Landlord, complete all Tenant application and referencing, draw up and arrange the signing of your Tenancy Agreement, conduct a check in report or inventory for your property as well as arrange for the deposit to be held with the TDS whilst you are a Tenant.

There may be some default fees due to HOP, which are provided in the Tenancy Agreement, if you lose your keys or fail to pay your rent on time.

It’s our policy to be up front, fair and transparent with our fees, so take a look at our Tenant Fee structures for Student and Professional Tenants below.

Professional Tenant Fees Overview

Holding Deposit

Equivalent to 1 week’s rent, the Holding Deposit will reserve the property for 15 days whilst you complete your application. Once all your application documents have been completed and your Tenancy Agreement is signed, the Holding Deposit then becomes part of your Deposit for the property.

Your Deposit will be secured in a Government-backed Deposit Protection Scheme called the TDS where it will stay secure until the end of your Tenancy. The Holding Deposit is non-refundable should you withdraw from the property application, provide false or misleading information, fail Right to Rent checks and unable to enter the agreement within the agreed 15 days.

Guarantor

You will require a Guarantor if:

  • You are not in full time employment, or earning less than 36 x the monthly Rental amount agreed
  • You have no history of renting previously or cannot provide a previous Landlord reference
  • You have a poor credit rating
  • You have been in a new job less than 6 months

The Guarantor will be a third party, such as a parent or close relative, who agrees to pay your rent if you fail to pay it, and must earn in excess of £25,000, or at least 36 x the monthly rental agreed. The Guarantor will be credit checked as part of the application process, so it’s important to ask them in advance. Your Landlord can take legal action to recover any unpaid rent directly from your Guarantor if you don’t pay your rent.

Late Payment Fees

Your rent is due on the day stated in your Tenancy Agreement. It’s really important that you pay your rent on time every month or quarter. If you don’t, it may cause problems for your Landlord.

Return of Rent Overpayment

Make sure that you cancel your Standing Order with your bank straight after your last rental payment. This does not happen automatically! It’s not easy for us to get any overpayment back to you right away and may take up to 14 days.

Assisted Check-In

For those who would prefer a personal assisted check-in to their property, we advise you to book a move in date during the week, where we have better resources to provide an assisted move in to your property. Please note we cannot offer an assisted check in on a Saturday, and we are closed on Sundays for a little rest.

What to expect from HOP?

1. Convenient Tenancy Application
Online administration service: credit checks, employer reference, Landlord reference, Tenancy application forms, ID verification, full legal Tenancy paperwork.

2. Peace of Mind
Full Landlord checking, client money protection, professional indemnity insurance, Public Liability Insurance.

3. Professionalism
SAFE Agent scheme membership, member of Property Ombudsman, professionally qualified staff, ARLA licensed letting agent, multiple-award-winning agent

4. Quality Service
Assisted property check-ins, professionally cleaned property for your arrival, maintenance checks and inventory (if requested by the Landlord and on managed properties only).

5. Award Winning  Service
We have won multiple Sunday Times Letting Agent of the Year awards and we pride ourselves on being a professional, honest and ethical agent.

Holding Deposits Terms

Once we’ve matched you to your perfect property, each Tenant will need to pay the Holding Deposit before we can take your property off the market. The Holding Deposit is a part payment of the deposit required for the property.

If you wish to apply to rent a property the following terms apply. A Tenancy will be offered to you subject to contract and, more specifically, subject to the following conditions:

  • A fully completed application form has been submitted together with the appropriate Holding Deposit.
  • The landlord has accepted the offer.
  • Satisfactory credit check has been carried out by an independent credit referencing agency (details on request).
  • Satisfactory references have been obtained.

Student Tenant Fees Overview

Tenancy Fees

There are Zero Tenancy Fees to pay for all tenants with HOP. During the Tenancy, some default charges might be payable for things like late rent or lost keys, which can be found in the fee schedule and within your Tenancy Agreement.

Holding Deposit

The Holding Deposit is equal to 1 week’s rent. This secures your chosen property for 15 days, whilst we complete your application. The Holding Deposit is non-refundable should you withdraw from the property application.

Once all of your application documents have been completed, and your Tenancy Agreement is signed, the Holding Deposit then becomes part of your Deposit for the property.

Your full deposit will be secured in a Government-backed Deposit Scheme, called the TDS, where it will stay secured until the end of your Tenancy.

Important:  If you choose to withdraw after acceptance, or undeclared adverse information is uncovered during referencing, then you may lose your Holding Deposit. Full Holding Deposit terms will be provided to you on our Pre-Tenancy Agreement prior to payment of your Holding Fee.

Guarantors

All Student Tenants require a Guarantor as standard.  A Guarantor is a third party, such as a parent or a close relative, who agrees to pay your rent if your fail to pay it. A Guarantor must be UK based and earn in excess of £25,000 per annum. The Guarantor will be credit checked as part of the application process, so it’s important to ask them in advance.

Your Landlord can take legal action to recover any unpaid rent directly from your Guarantor if you do not pay your rent.

 

Late Payment Fees

Your rent is due either monthly or quarterly, depending on what it says in your Tenancy Agreement. It’s really important that you pay your rent on time. If it is late, then daily interest can be charged on late rent.

Return Of Rent Overpayment Fee

Please cancel your standing order with your bank straight after your last rental payment. This does not happen automatically! It may take up to 14 days to refund rent overpayments.

Other Fees

Other permitted charges may apply during the Tenancy such as charges for lost keys and changes to locks. All fees are detailed in your Tenancy Agreement.

If you have any further questions about our student letting fees, please don’t hesitate to contact the team at HOP today!

Important Notes

Should you choose to withdraw after acceptance, or undeclared adverse information is uncovered during referencing, then you may lose your Holding Deposit. Full Holding Deposit terms will be provided to you on our Pre-Tenancy Agreement prior to payment of your Holding Fee.

Prior to picking up keys, we must have received the first month’s rent and remainder of the deposit paid. Funds must be cleared before keys can be released.

If you are in any doubt whatsoever as to what is included within the property, for example furniture or appliances, you should seek further clarification prior to submitting your application.

There may be some default fees due to HOP, which are provided in the Tenancy Agreement, if you lose your keys or fail to pay your rent on time.

Current Fees

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Fee list for Tenancies signed before 1st July 2019

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