TENANT FEES
Fees applying to tenanancies are as follows:
Rent
This amount is usually due on the 1st of each month unless agreed otherwise. The amount payable is displayed on all advertised properties and within the tenancy agreement. If there was to be an increase in this amount you will be contacted to be given as much notice as possible. Rents are only legally allowed to be increased once in any 12 month period, unless agreed by all parties.
Holding deposit
One week’s rent. This fee is to reserve the property once you have viewed and your application had been accepted by the landlord. This fee will be taken off your first months rent.
This fee will only be withheld if any tenant or guarantor withdraw from the tenancy application, fail a Right to Rent check, provide false or misleading information and failure to sign the tenancy agreement or deed of guarantee within the mutually agreed deadline.
Security deposit
This equates to 5 weeks rent unless the rent is over £50,000 per year. This payment is paid before the start of your tenancy and is protected within an government approved Tenancy Deposit Scheme. This covers any damage or defaults on the part of the tenant during the tenancy.
Unpaid rent
Interest at 3% above the Bank of England Base Rate. This is calculated from the rent due date until paid in order to pursue non-payment of rent. Please note that this will not be levied until the rent is more than 14 days in arrears.
Lost keys or other security devices
Tenants are liable to the actual cost of replacing any lost keys or other security devices. If the last results in locks needing to be changed, the actual cost 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 (including VAT) for the time taken replacing, lost keys or other security devices.
Variation of contract (tenants request)New paragraph
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlords instructions, as well as the preparation and execution of the new legal documents.
Change of sharer (tenants request)New paragraph
£50 (inc. VAT) pan replacement tenant, or any reasonable costs incurred if higher. To cover the costs associated with taking the landlords instructions, new tenant referencing and right to rent checks, deposit registration, as well as the preparation and execution of the new legal documents.
Early termination (tenants request)
Should the tenant wish to leave their contract early. They shall be liable for the landlords cost in reletting 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.
