2 years ago - 2 minute read
At Fronted, we’re helping you move and bringing decades of financial experience to renters. Money can be an uncomfortable topic, but it doesn’t have to be.
Part 1: How much money do renters need to move? (Keep reading)
Part 2: What are the alternatives to rental deposits? (Click the link to jump to this section)
Part 3: How much should you spend on rent? (Click the link to jump to this section)
Let’s get into it.
I’ve heard a lot of stories of renters getting stung with fees they are NOT responsible for paying. It’s why I’ve also made a free downloadable spreadsheet at the bottom of the article for you to use, but first let’s break down the costs.
The only fees your estate agent or landlord can charge you when you move out are:
Your agent or landlord should not charge you any administration fees. If you’ve already paid a fee that wasn’t listed in the above list, your estate agent has 28 days to return it, or they risk a fine of £5,000.
Don’t be afraid to push back and clarify costs. If they don’t remove the fee you can report them to the trading standards.
The only costs your estate agent or landlord can charge you when moving in are:
Agents or landlords cannot charge you (and your guarantor should you need one) for:
If you find fees outside of the above in your rental contract, your estate agent should remove them without any justification needed on your side.
To reiterate: if you’ve been charged a banned fee, the estate agent has 28 days to return it, or they risk a fine of £5,000!!!
The costs that you’ll need to account for are:
We covered a lot here but your costs will differ depending on your rent, utilities and other factors. It’s why I’ve made you a template where you can work it out for your self.
Here’s a template with all the costs I’ve gone through above. Simply ‘Save As’ the spreadsheet or download it to access it.
Let’s head to part 2 of the Money Guide for renters where we go through all your rental deposit options.
2 years ago - 2 minute read
Fronted is a trading name of Fronted Holding Ltd. We are registered in England and Wales (Company No.12278750), registered office address is Fronted, The Fisheries, 1 Mentmore Terrace, London, E8 3PN. Fronted Loans Ltd (Company No.12307305) is authorised and regulated by the Financial Conduct Authority under a Consumer Credit Licence (FCA No. 933316). Fronted Ltd (Company No.12304059) is authorised and regulated by the Financial Conduct Authority under a Broker Licence (FCA No. 933317).
Fronted Loans Ltd and Fronted Ltd is a wholly owned subsidiary of Fronted Holding Ltd. We are part of the FCA regulatory sandbox - Cohort 6. The regulatory sandbox allows firms to test innovative offerings in a live environment. More information on the FCA's regulatory sandbox can be found here.
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