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Fees Explained

Tenant Fees

NEW 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 (per tenancy. Rentunder £50,000 per year) Five weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per 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.
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).
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.

EXISTING ASSURED SHORTHOLD TENANCIES (ASTS) SIGNED PRIOR TO 1 JUNE 2019 AND ALL ASSURED TENANCIES

Before you move in

Check in Fee (tenant’s share): £78 (inc VAT) 

Set up fee (tenant’s share): 48% (inc VAT) of one calendar months rent, split between the tenants where multiple occupancy.

Referencing of tenants (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 contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement

Guarantor Fee:  £120 (inc VAT) per guarantor (if required)

Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement

Permitted Occupier Fee: £0 

Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy

Pet Deposit: Returnable additional Security Deposit of two weeks rent.

To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy

DURING YOUR TENANCY:

Amendment Fee: £288 (inc VAT)

Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

Renewal Fee (tenant’s share): £78 (inc VAT)

Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

ENDING YOUR TENANCY:

Future Landlord Reference Fee: £0

Collating information and preparing a reference for a future landlord or letting agent

OTHER FEES AND CHARGES:

Lost Security Items:£60 (inc VAT) plus item cost

Obtaining necessary permissions, sourcing providers and travel costs

Out of Hours Services: £18 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

Late payment of rent administration charges as follows:

£36 including VAT for letter sent to chase rent after 24 hours of late payment.
£36 including VAT for letter sent to chase rent after 72 hours of late payment.
£36 including VAT for letter sent to chase payment after 5 days of late payment.

Missed contractor appointment charge:
£60 including VAT. If an appointment is made with a contractor to gain access and you miss that appointment and they can’t gain access then this charge applies.

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

Client money protection (cmp) provided by: ARLA
Independent redress provided by: The Property Ombudsman

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