Fees & Deposits
A Holding Deposit of One week's rent is payable at the start of the application to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing). Successful Application - Any initial Holding Deposit will be offset against the rent and deposit with the permission of the payee.
Fees payable in accordance with the Tenant Fee Act 2019.
Additional variable charges may apply during the course of the tenancy or at the end and are detailed within the Tenancy Agreement. For Example.
Unpaid Rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request)
£50 (inclusive VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request) ge of Sharer (Tenant’s Request)
£50 (inclusive VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Security Deposit (per tenancy. Rent under £50,000 per year)
Five weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent £50,000 or over per year)
Six weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Please Note: Costs and any default fees remain in place for all tenancies that have commenced before 1st June 2019. This includes renewal admin fees, a Check-Out fee if applicable and any other fees or charges stipulated in the Tenancy Agreement.
