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Tenants - Fees

 
We strive to provide a first class service and be transparent about the fees involved in renting a property. Our aim is to keep tenant fees as low as possible and to make sure you are fully informed about the costs before starting the process.


 

FOR 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 — Five weeks’ rent (per tenancy. Rent under £50,000 per year)
This covers damages or defaults on the part of the tenant during the tenancy.

 

Security Deposit — Six weeks’ rent (per tenancy. Rent of £50,000 or over per year)
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 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).

 

 

 

 

(FOR EXISTING TENANCIES)

BEFORE YOU MOVE IN:

Set up Tenant Fee - £ One week's rent + VAT
Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers & landlords and any other relevant information to assess affordability), contract negotiation (amending and agreeing terms) and arranging the tenancy, protection of deposit, preparing the check-in photos, taking meter readings and notifying the utility providers. This fee is applicable per tenancy and not per individual tenant.

Contract Fee (tenant's share) - £ 120 (inc VAT) per tenancy (if required)
Arrangement of the tenancy agreement and associated paperwork.

Guarantor Fee - £ 80 (inc VAT) per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.

DURING YOUR TENANCY:

Renewal Fee (tenant's share) - £ 144 (inc VAT)
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement, reissuing deposit certificate.

Tenant Swap Fee - £ 220 per incoming tenant (inc VAT)
Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers & landlords and any other relevant information to assess affordability) as well as arranging the assignment of tenancy document, amendment of deposit certificate.

Guarantor Fee - £ 80 (inc VAT) per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.

Rent Reminder - £ 35 per notification (inc VAT)

Amendment Fee - £ 60 (inc VAT)
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

 

 

IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF

 

You can access the applicable Client Money Handling Procedure here.

 

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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 tenancy.

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

ENDING YOUR TENANCY:

Check out Fee - £ 114 - 246 (inc VAT)
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s). This charge depends on the size of the property and will be deducted from the Security Deposit.

Professional Cleaning - £ 222 - 486 (inc VAT)
This charge depends on the size of the property and will be deducted from the Security Deposit.

OTHER FEES AND CHARGES:

Lost Security Items - £50 (inc VAT) plus item cost
Obtaining necessary permissions, sourcing providers and travel costs.

Out of Hours Services - £50 per hour (inc VAT) plus any actual costs incurred
Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the hourly rate.

Unpaid Rent / Returned Payments - Interest at 8% above Bank of England Base Rate from date due.