CONTRACTS SIGNED ON OR AFTER 1ST JUNE 2019
BEFORE YOU MOVE IN
Holding Deposit: Equivalent to one week’s rent per applicant, should you be offered and you accept a tenancy with our Landlord, then your holding deposit will be credited to the first months’ rent due under that tenancy.
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: Up to 5 weeks’ rent for tenancies with rent under £50,000 per annum. Up to 6 weeks’ rent for tenancies with rent of £50,000 or over per annum.
This covers damages or defaults on the part of the tenant during the tenancy.
DURING YOUR 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 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).
Tenant Variation of Contract: £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: £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.
Tenant Early Termination: 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 tenancy.
** EXISITING CONTRACTS SIGNED BEFORE 1ST JUNE 2019 **
BEFORE YOU MOVE IN
Set up fee (tenant’s share) £200 per tenant (inc VAT)
Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current oy previous employers/landlords and any other relevant information to assess affordability (not students) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement. Guarantor and or rent agreements.
DURING YOUR TENANCY
Administration Fee: £250.00 per updated tenancy (inc VAT)
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy
ENDING YOUR TENANCY:
Check out Fee (tenant’s share): £120.00 (inc VAT) for a 1 bedroom property and for every bedroom thereafter an additional £30 incl vat will be payable.
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)
END OF YOUR TENANCY
Future Landlord Reference Fee: £25.00 (inc VAT) per reference request
Collating information and preparing a reference for a future landlord or letting agent
OTHERS FEES AND CHARGES
Unpaid rent/ returned payments: £25.00 late payment fee per each occasion (inc VAT)
If the Tenants do not pay the rent due to the Landlord within seven days of the due date, or if the Agents bank has to represent a cheque, the tenants will pay the Agent a fee of £25.00 inc VAT on each occasion and for every 7 days that this payment remains unpaid. Tenants are responsible for ensuring that standing order mandates are set up correctly with their bank/building society.
Key Charges
The Tenants are responsible for the replacement of replacing lost keys
(i) A charge of £50 incl VAT will be payable should the Tenants require a replacement key. If the key cannot be copied or is a suited key or a lock change is required for security purposes, then the Tenant will be liable for the full cost of any works and materials undertaken.
(ii) The Tenants shall not duplicate keys to the Property without the written authority of the Landlord. Permission will not be unreasonably withheld.
(iii) If the Tenants need to borrow the keys from the landlord or agent for any purpose, a charge of £50 incl VAT will be charged to the Tenants should the keys not be returned on the same working day. If the landlord or agent has to attend the property to allow access then a charge of £50 incl VAT will become payable immediately upon request.
Unpaid Rent / Returned payments: Interest at 8% above bank of England Base Rate from date due
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF.
CLIENT MONEY PROTECTION (CMP) PROVIDED BY: Propertymark
INDEPENDANT REDRESS PROVIDED BY: TPO’S “THE PROPERTY OMBUDSMAN”
