Tenants' fees
In line with current legislation, we do not charge tenants’ fees on new or renewed contracts. We are completely open and honest about all charges, and list them here so you can compare to other.
Holding Deposit
One week’s rent. This is to reserve a property and will be deducted from the amount owed for your first payment.
The only circumstances under which this would be withheld if any relevant person (including any guarantors) 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). A Landlord may opt not to take a Holding Deposit in order to keep the property on the market and assess all potential tenancies during the referencing process.
Damage/Security Deposit
The equivalent of five weeks’ rent. This covers damages or defaults on the part of the tenant.
In line with government legislation regarding the storage of damage deposits all deposits are kept in a Tenancy Deposit Protection Scheme.
Unpaid Rent
We charge a daily rate of interest on unpaid rent that you will be liable to pay on top of the outstanding amount. Please get in touch if you think you may have difficulty paying on time.
The default fee for late payment of rent is chargeable from 14 days arrears calculated on the interest at 3% above Bank of England base rate on the late payment of rent for each day that the payment is outstanding.
Lost Key(s) or other Security Devices
If you lose your key or other property security device, you will be liable for the cost of having a replacement cut.
Tenants are liable for the actual cost of replacing any lost keys or other security devices. 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 and/or 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 or other security devices.
Tenant Requested Contractual Changes
If you request a variation of your existing contract (for instance - adding an additional tenant into a spare room) we will make a small charge of £50 per agreed change.
We charge £50 (inc. VAT) per agreed variation in order to cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents. We charge £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs including (in addition to the above): new tenant referencing, Right-to-Rent checks and deposit registration.
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. The tenant’s liabilities toward utilities including but not limited to gas, electricity, water and council tax remain unchanged up to the start date of the replacement tenancy. As always, if you wish to leave a property before the end of the tenancy, keep us informed. In some circumstances, we may be able to help by e.g. finding a replacement tenant in a House of Multiple Occupation.
