Refunds & Other Helpful info
Refund policy Compliance- any doubts discuss with your wellbank account manager first
Withholding deposit: Also known as reservation fee.
No Refund:Undeclared adverse information or Tenant did not provide information within a reasonable time.
Partial refund: Speed of decision, the tenants provided information and documentation within reasonable time.
Costs will be deducted ie referencing and £50.00 pounds admin charge will apply
Example. referencing cost ££50.00 Wellbank admin £50.00 Total deductions would be £100.00 from the with holding deposit and remainder refunded.
Full refund- If we cannot rent to the tenants due to landlord change of circumstances etc. or failed referencing but the clients have declared everything.
We will ensure written confirmation is given and any refunds only in the same bank account the monies was transferred from.
Rent Payments and late charges.
Request proof of payment– once provided by tenant we will Investigate our bank account, Confirm the situation & refund immediately . Until investigation is done any late charges will be incurred as per the tenancy agreement and if applicable implemented and invoice to tenant to be paid immediately with the tenancy status changed to impaired (for up to the end of tenancy or at least 6 months. whichever is ends early.
Payments of invoices and landlords rents.
Supplier Invoices received Service received for the invoice- Wellbank will pay as agreed with contractor /supplier
Your Landlord rent- will be paid immediately to the landlord as per our contract with the landlord.
