Fees & Deposit
Please click here to read more information about our fees.
When we manage the property your deposit will typically be equal to 5 weeks rent (and not more). When we only source tenants and a landlord manages their property themselves the deposit amount may vary. Sometimes the landlord may choose to protect the deposit themselves. Where we protect the deposit we use ‘MyDeposits’.
We may charge a tenant any or all of the following when required:
Holding Deposit (per tenancy)Read More
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. Rent under £50,000 per year)Read More
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)Read More
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid RentRead More
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 14days in arrears.
Lost Key(s) or other Security Device(s)Read More
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)Read More
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (tenant’s request)Read More
£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)Read More
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.
Corporate client tenant referencing feeRead More
50% +VAT of one months rent, payable by Corporate Client on behalf of the tenant.
Corporate client check-in feeRead More
£120 +VAT, payable by Corporate Client on behalf of the tenant.
At The Letting Game we try not to baffle our tenants and landlords with industry jargon, but from time to time there might be something that needs a little explaining. We’ve put together this handy Jargon Buster to help make things easier.