Tenant Fees Schedule
Clear information on permitted tenant payments, including holding deposits, security deposits, company tenant fees, lost keys, tenancy changes and early termination charges for new tenancies signed on or after 1 June 2019.
Tenant Fees Schedule
New tenancies signed on or after 1 June 2019.
| Holding DepositPer 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. If the tenant is a company (PLC, Ltd or LLP), an administration fee is payable to reserve the property instead of a holding deposit. |
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| Security DepositPer tenancy, rent of under £50,000 per year | Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Security DepositPer 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. |
| Company Tenant | £600.00 (inc. VAT). This is to reserve a property and is a non-refundable referencing fee, set up fee and contribution to the tenancy agreement. A full security deposit will also be required.
Company tenant is defined where the tenant will be PLC, Ltd or LLP. |
| 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 and any other persons requiring keys will be charged to the tenant.
If extra costs are incurred, there may be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). |
| Variation of ContractTenant’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. |
| Tenancy SwitchTenant’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 TerminationTenant’s request / Non-Housing Act only | Should the tenant wish to leave their contract early, they shall be liable for 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. |
Questions?
If you have any questions on our fees, please ask a member of staff.