Client Money Protection provided by ARLA Propertymark
Independent redress provided by The Property Ombudsman
Fees For New Assured Shorthold Tenancies on or after 1st June 2019
Pre Tenancy Commencing
Holding Deposit (per tenancy)One week’s rent. This is to reserve a property. NB: 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).
Tenancy Deposit: Equivalent of 5 weeks rent (if annual rent is less than £50,000) or 6 weeks rent (if annual rent is £50,000 or more), payable before your tenancy commences.
Advance Rent: As a minimum, the first months’ rent is payable before your tenancy commences (may differ depending on the terms of your tenancy).
During Your Tenancy
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: NB: 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 and any other person 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).
Other Fees That May Apply
Variation of Contract (Tenant’s Request): £50 (in. 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): £50 (inc VAT) per replacement tenant or unreasonable 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 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.
Fees For Non Assured Shorthold Tenancies
Reservation deposit of two weeks rent, allowed against the first month’s rent assuming the tenancy proceeds.
Fee of £150 (inc VAT) for referencing and right to rent checks required for up to two tenants
Additional Tenant Fee £50 (inc VAT) per person for processing the applicant, associated paperwork and referencing as above.
Guarantor Fee £150 (inc VAT) per guarantor (if required) .Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.
Security deposit is held for the duration of the tenancy normally equivalent to six weeks rent and payable prior to the tenancy commencement. This may be increased depending on individual circumstances.
Amendment Fee £150 (inc VAT) payable in the event of a change in tenant in a shared property
Rent, unless otherwise agreed, is payable monthly in advance on or before the due date. First payment is required prior to commencement of the tenancy in cleared funds.
Inventory – In most lets inventory costs are split between the tenant and landlord, the tenant being responsible for the check out at the tenancy end. Cost is approx. £120 (inc VAT) for a one bedroom flat, increasing depending on number of bedrooms and whether furnished or unfurnished.