Please see below our fee Schedule.
A deposit equivalent to five or six weeks rent calculated by dividing the annual rent by 52 and multiplying by 5 or 6 depending on the amount of annual rent (see fee schedule) will be required to be paid at the start of the tenancy.
It may not become apparent until referencing for all tenants applying has been completed that a Guarantor is necessary. A Guarantor is also required to be fully referenced.
TENANT FEES SCHEDULE
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019
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.
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 (inc.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 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 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.
Non Housing Act 1988 Tenancies/Company Tenancies
For these types of tenancy there is a referencing fee of £360 including VAT, plus administration fee of £160 including VAT & inventory charges may apply. A Renewal Fee of £60 including VAT may be payable if relevant.