Agency Fees
Our tenant permitted payments are in accordance with the Tenant Fees Act 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. Rent under £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.
Tenant Fees Act 2019 and Existing Tenancies
Below is a list of fees permitted under the Tenant Fees Act 2019 transitional provisions, where fees are written into existing tenancy agreements. These apply to all tenancies signed and executed on or before 31 May 2019, and can be charged up until 31 May 2020.
FEES AND CHARGES:
Out of Hours Services
£40.00 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 Fee
£45.00 (inc VAT) per late payment due
Payment Reminder Fee
£20.00 (inc VAT) per reminder. One reminder fee may be charged each time a tenant is reminded to pay outstanding monies and will not exceed one per seven days.
Re-advertising and Sublet Agreement Fee
50% of one full month’s rent. Explaining to any superior and sub-tenant their rights and responsibilities towards each other and the landlord as well as the provision of documentary guidance and assistance during the tenancy.
If you have an questions in regards to our fees, then please feel free to contact a member of staff.
