Fees-to-tenants
BEFORE YOU MOVE IN ...
A Holding Deposit equivalent to one week’s rent per tenancy is required to reserve the property while the landlord considers your application and the necessary pre-tenancy checks are carried out. If, having paid the Holding Deposit, you decide not to proceed with the tenancy, the Holding Deposit may be retained by the landlord and/or our firm. The Holding Deposit may also be retained if, during the application process, you unreasonably delay in responding to any reasonable request made by our firm, provide false or misleading information as part of your tenancy application, or fail a Right to Rent check which the landlord is required to undertake under the Immigration Act 2014. If the landlord decides not to offer you a tenancy for a reason unconnected with the above circumstances, your Holding Deposit will be refunded within 7 days. Should you be offered and accept a tenancy, the Holding Deposit will be applied towards the first rent payment. Where, for whatever reason, your Holding Deposit is neither refunded nor applied towards the rent or tenancy deposit, you will be provided with written reasons explaining why the Holding Deposit has not been returned. The Holding Deposit will normally be held for a period of 15 calendar days from the date it is received unless a different period has been agreed with you in writing. You will not be asked to pay any fees or charges in connection with your application for a tenancy. However, certain permitted payments may become payable during or in connection with the tenancy, as set out below.
Security Deposit - Equivalent to:
- 5 weeks’ rent where the annual rent is less than £50,000; or
- 6 weeks’ rent where the annual rent is £50,000 or more.
The tenancy deposit will be protected in a government-approved tenancy deposit scheme in accordance with the applicable legislation and may be subject to lawful deductions at the end of the tenancy. Our deposit scheme is TDS.
DURING YOUR TENANCY ...
Lost Key(s), Fob(s) or Other Security Device Charge
You will be liable for the reasonable costs actually incurred in replacing any key(s), fob(s) or other security device which has been lost.
Where reasonably necessary because of the loss, you may also be liable for the reasonable cost of replacing locks and providing replacement keys, fobs or other security devices for all persons who require them.
Written evidence of the costs incurred will be provided where a charge is made.
Variation of Contract Fee – £50.00 (including VAT)
Should a Tenant request a variation, assignment, or novation of a tenancy, or request the addition or removal of a Tenant or Occupier, at any point during the tenancy, the Tenant may be charged a Variation of Contract Fee of £50.00 including VAT for the preparation of the necessary documentation.
Where the reasonable costs of the work exceed £50.00, a higher charge may be made provided that the additional reasonable costs can be evidenced.
Any variation or change to the tenancy agreement is subject to the Landlord’s written consent where such consent is required.
Early Termination
If the Tenant requests to terminate the tenancy before they are legally entitled to do so under the terms of the tenancy, the Tenant may be responsible for the Landlord’s reasonable losses and costs arising from the early termination.
Any amount payable will be limited to the rent and other sums that would otherwise have been payable during the applicable notice period, together with any other reasonable costs or losses which are lawfully recoverable.
Any agreement to terminate the tenancy early is subject to the Landlord’s written consent where such consent is required.
OTHER FEES AND CHARGES ...
Unpaid Rent
Where rent remains unpaid for 14 days or more after the date on which it became due, interest may be charged on the overdue amount at a rate of no more than 3% above the Bank of England Base Rate.
Interest will only be charged on the amount of rent that remains overdue and will be calculated for the period during which the rent remains unpaid.
