Tenants Fees

FEES


A holding deposit equivalent to one week's rent will be collected in order to reserve the property. We shall stop marketing the property once this has been paid. 

References will be required from current employer, previous landlord(s) and current bank. Also, a character reference and credit check will be obtained. Guarantors may be required in certain circumstances. 

The holding deposit will not be refunded should the applicant fail the Right to Rent check, provide false or misleading information that would affect the Landlord’s decision or the tenant withdraws from the tenancy and or fails to take all reasonable steps to enter into a tenancy agreement. Once referencing is complete the holding deposit can be used towards the first month’s rent. 

A deposit equivalent to 5 weeks rent is payable prior to commencing the tenancy. The deposit is refundable at the end of the tenancy less any charges for damages or breach of contract. The deposit shall be registered and held by MyDeposits Custodial Scheme, full details will be provided to the tenant at the point of registration. 


Default charges that can be incurred during the tenancy:


Unpaid Rent Interest at 3% above the Bank of England Base Rate 
Charged from Rent Due Date until paid. This will not become due until the rent is more than 14 days in arrears.

Change of sharer - £50 (inc VAT) or any reasonable costs (if greater) 
The charge shall be payable for each occasion you request a replacement tenant. To contribute to the costs of obtaining the Landlords permission, referencing, Right-to-Rent checks, deposit registration, and preparing and executing the replacement agreement.

Lost Keys or other Security Devices - £50 Inc VAT or any reasonable costs (if greater) 
The tenant will be liable for the actual cost of replacing any lost key(s) or other security device(s). If as a result of the loss, locks also needing to be replaced, the actual costs of carrying out the replacement, replacement lock and keys for the Tenant, Landlord and any other persons requiring keys will be charged to you. 

Variation of Contract - £50 (inc VAT) per agreed variation
If you request a change to the terms of your Tenancy for example allowing a pet in the property and providing a pet policy. This is to cover the costs associated with obtaining the Landlords instructions, preparing the document and its execution.

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