Tenant Fees and Costs

We don’t charge any tenant fees except in certain circumstances:

 

Early Termination at the Tenant’s Request - (Change of Tenancy Fee)

If the landlord accepts the tenants' request to end the current Tenancy Agreement because one of the tenants wishes to leave and to create a new tenancy with a new group; a fee is payable.

Once the new tenant and their guarantor are vetted and approved a new digital Tenancy Agreement is drawn up and must be signed by the new group (old plus new) of tenants. All the guarantors must also sign new guarantor agreements.

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The fee for this is £300 inc. VAT and includes: administration of application, preparation of legal documents, deposit registration, check-in, final property visit, check-out, interim and final deposit return negotiations. 

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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.

 

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 Keys or Other Security Devices
Tenants are liable to the actual cost of replacing any lost keys or other security devices. 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 and 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 keys or other security devices.