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Fees and Costs

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. 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 for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request)

£50 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 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.

 

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

Set up fee (tenant’s share): 48%  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 per guarantor (if required)

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

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  

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  

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

Renewal Fee (tenant’s share): £78  

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 plus item cost

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

 

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