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Tenant Fees back

Tenancy Information

Tenant fees: Assured shorthold Tenancies

Holding Deposit (per tenancy) — One week’s rent.
This is 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).

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 of £50,000 or over per year) — Six weeks’ rent.
This covers damages or defaults on the part of the tenant during the 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. 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 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 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 (Inc. VAT) per agreed variation
To cover the costs associated with seeking the landlord’s approval as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request) — £50 (Inc. VAT) per replacement tenant or any reasonable costs incurred if higher
To cover the costs associated with seeking the landlord’s approval, 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)
Subject to the landlord’s approval, should the tenant wish to leave the property before the end of the contractual period, they shall be liable for the landlord’s resonable 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 Scheme - RICS Client Money Protection Scheme - Refs: 001232

Redress Scheme - The Property Ombudsman – Refs: T01697
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