Tenancy setup "Admin Fee" - when is it collection and returned?

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Scott_787
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I plan to start charging an "admin fee" for new tenancies - this is to cover my costs for checking tenants and drawing up contracts etc. I will charge 100.

Can this be collected prior to checking the tenant, or only once they sign the AST? Assuming it can be collected before hand, does this therefore replace the need to collect a holding deposit?

Under what circumstances should the admin fee be returned? If I do the checks and I then decide not to proceed with the tenant (because of something discovered in the checks) do I return the admin fee? Or do I just return the unused portion of it?

Thanks,
Scott.

11/02/2010 00:00

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