Fees applying to all new tenancies from 1st June 2019
We may charge a tenant any or all of the following when required:
- the rent;
- a security deposit with a maximum of 5 weeks rent, or 6 weeks on a property with rent over £50,000 per year;
- a holding deposit of no more than one weeks’ rent;
- default fee for late payment of rent (after 14 days);
- reasonable charges for lost keys or security fobs;
- payments associated with contract variation, at £50 or reasonable costs incurred if higher, when requested by the tenant;
- payments associated with early termination of the tenancy, when requested by the tenant; and
- payments in respect of bills - utilities, communication services, TV licence, council tax and green deal or other energy efficiency charges.
Fees applying to all pre-existing tenancies entered before 1st June 2019
We shall continue to apply the charges within the existing tenancy agreement until 31st May 2020.
Tenant Fees and Costs:
Holding Deposit (per tenancy)
One weeks’ rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from 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). Upon the signing of the tenancy agreement this amount will make up part of the security deposit.
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 keys or other Security Devices
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 to 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 remainder of the tenancy.
