Letting Agent Fees Guide

What letting agent fees and other fees will you be charged if you find a property with Upad? How do these compare with fees charged by other letting agents?

Letting Agent Fees for Landlords and Tenants

Upad landlords incur no on-going letting agent fees, unless they have specifically chosen our Fully Managed Lettings Service.

Tenants incur no letting agent fees or pay any administration fees to Upad when renting a property through us. Other letting agents may charge a variety of administration fees to tenants, which drive up the cost of renting.

Our Tenant Referencing fee of £75 per tenant and guarantor is charged to tenants in England and Wales, only if landlords choose to use Upad’s referencing service. Your landlord may choose to charge you fees for additional elements, such as the completion of the property inventory or the creation of a tenancy agreement.

Read on below for our full guide to Letting Agent Fees.

Tenant Referencing

  • Landlords will conduct a reference check on all potential tenants. A tenant referencing check will usually include a full credit and affordability check, and requesting written references from your current landlord and your employer.
  • If you fail the credit check or the rent is deemed to be unaffordable, you may still be able to rent the property if you are able to provide a guarantor. A guarantor will themselves be credit checked to ensure they can afford to pay the rent if you fall into arrears.
  • Upad’s tenant referencing fee is £75 per tenant, and per guarantor if required, in England and Wales only. In Scotland, all letting fees are illegal, so this fee is paid by landlords.

Instruct Tenant Referencing

Holding Deposits

  • Upad does not charge a holding deposit to tenants and does not recommend that landlords ask for one, however your landlord may request you pay them one to secure the property and take it off the market.
  • Ensure you receive a receipt for any holding deposit. Do not pay a holding deposit until you have the landlord's email address, phone number, and address. You may also wish to verify the landlord's identity via photo ID.
  • Do not pay a holding deposit until you have viewed a property, and do not take cash to a property viewing.

You can read more on holding deposits in this article.

Assured Shorthold Tenancy Agreement

  • Upad can create an assured shorthold tenancy agreement (AST) for landlords as part of our Tenant Sign-up Service. Upad does not charge a fee to tenants for this service as it is paid for by the landlord.
  • The AST is the contract between you and the landlord.
  • Read our Guide to Assured Shorthold Tenancy Agreements to understand everything that should be included in your AST.
  • Ensure you read your AST in full before signing, and question anything you are unsure of.
  • Look out for any terms and conditions that contradict the property advert, specific terms around smoking and pets are common.

Buy Tenant Sign Up Service

Property Inventories

  • Upad does not charge tenants a fee to complete the inventory or to check-in to the property. However, a landlord may charge this cost directly to a tenant. It is common for a landlord to pay for a check-in inventory and a tenant to pay for a check-out inventory.
  • The purpose of the inventory is to create an accurate record of the condition of the property at the start and the end of the tenancy.
  • It is important both landlord and tenant agree on the contents of the inventory, so that any deductions made to the tenancy deposit at the end of the tenancy are fair and just.
  • You may wish to request that a definition of "fair wear and tear" is covered in your AST. You can read more about fair wear and tear in our Guide to Property Inventories.

Book an Inventory with Upad

Other Letting Agent Fees

Tenants will incur no Upad fees during the tenancy, however some landlords may charge a fee for the following:

  • Renewal of a tenancy agreement.
  • Other updates that may be made to the tenancy agreement, such as the adding or removal of tenants or changes the tenant requests to the terms and conditions.
  • Professional cleaning at the end of the tenancy - this should be covered in your AST, though you may wish to pay for professional cleaning yourself to reduce the potential of any deductions being taken from your deposit.
  • Inventory check-out at the end of the tenancy.