Tenant Fees
NEW ASSURED SHORTHOLD TENANCIES
(ASTs) SIGNED ON OR AFTER 1 JUNE 2019
|
Holding Deposit (per tenancy) |
One weeks’ 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) | Five 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. These costs will be no more than the maximum amount of rent outstanding on the tenancy. For a Managed property £354.00 (inc. VAT) per tenancy, and For a Let only Property 75% of first months’ rent, average £780.00 (inc.VAT) plus all rent due under the tenancy until the start date of the replacement tenancy. |