Tenant Fees Schedule
New Assured Shorthold Tenancies (ASTs) signed on or after 1 June 2019
Holding Deposit
Equal to one weeks' rent (to be paid when making an offer for an AST and to reserve a property). 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 the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
To be paid prior to the start of a tenancy:
Initial Rent (less holding deposit) as per the tenancy agreement.
Security Deposit
For ASTs with an annual rent of under £50,000 – equivalent to 5 weeks rent – This covers damages or defaults on the part of the tenant during the tenancy.
For ASTs with an annual rent above £50,000 – equivalent to 6 weeks rent – This covers damages or defaults on the part of the tenant during the tenancy.
The holding deposit will be offset against the initial rental payment if the tenancy application is successful.
Unpaid Rent
Interest is charged at 3% above the Bank of England Base Rate from the rent due date until paid. 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 for the cost of replacing any lost key(s) or other security devices(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock(s) and replacement keys for the tenant, landlord or any other persons requiring keys will be charged to the tenant(s). If any extra costs are incurred then this will be chargeable at £15.00 per hour (inc. VAT) for the time taken to replace lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request)
A fee of £50.00 (inc. VAT) is charged per agreed variation. This is to cover the costs associated with taking the Landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request)
A fee of £50.00 (inc. VAT) is charged per replacement tenant or any replacement costs incurred if higher. This is to cover the cost associated with taking Landlords instructions, new tenant referencing, right to rent checks, deposit registration, and 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 for 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.
Client Money Protection
We are a registered member of the Propertymark, which is a client money protection scheme to ensure your money is handled within the correct manner.
Independent Redress
We are members of The Property Ombudsman, which is a redress scheme for consumer complaints.
