holding deposit
Usually one or two weeks' rent non-refundable that takes the property off the market.
final balance
The amount of One months Rent in advance, One Months Deposit & the Administration fee, Less the amount of the holding deposit.This must be paid for as cleared funds. For example by Cash, Bankers draft or credit or debit card. (A small charge will be added for the use of cards)
calendar month
All rents due are calculated per calendar month. For example if the rent is £100.00 per week = £433.33 per calendar month. This is calculated at a week's rent multiplied by 52 weeks in a year and divided by 12 months. This gives equal payments each month. The same applies for 26 weeks divided by 6 months.
guarantor
A person that will guarantee that the rent is paid and the terms of the contract met if the tenant fails to do so. Guarantors must be UK based. Required for students and properties where the landlord insists regardless of circumstances and occupation.
deposit
Usually one month's rent held against any damage or losses that have occurred during the tenancy. A two month deposit may be required instead of a guarantor.
assured shorthold tenancy
This will be the lease for the property drawn up by ôOyezö The Law Society Stationer. The length will usually be one year with a break clause after six months. Some landlords will insist on a set term contract of a minimum of six months with no break clause.
break clause
As stated above, one month's written notice can be given after the duration of the break clause.
inventory
A list of contents and condition of the property that is produced at the start of the tenancy, and checked at the end of the tenancy.
fees for tenants
At Berns & Co we are committed to offering a fair and transparent service to our tenants. Standard fees payable by tenants are listed below. Berns & Co do not charge tenants to renew their tenancy.

Inventory and Check-in
Inventories are conducted by an independent inventory clerk. Inventory costs vary according to the size of property:
Studio £75
1 bed £95
2 bed £110
3 bed £130
4 bed £170
5 bed+ By separate negotiation

Contracts
Fees are per tenant:
Studio £70
1 bed £100
2 bed+ £130

References
Fees are per tenant:
Studio £70
1 bed £100
2 bed+ £130

Substitution of Tenant
If a substitution of Tenant is required there is a charge of £150 for each and every substitution to cover contract costs and administration.

Payment
Berns & Co. accept the following methods of payment:
Debit card (£4 surcharge)
BACS
CHAPS
Credit card (2.5% surcharge) (Amex 5% surcharge)
Cash
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