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.
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.
New Assured Shorthold Tenancies (ASTs) Signed before 1 June 2019
Administration & Contract Fee (processing your application, drawing up your tenancy agreement, arranging inventory and check-in and protecting your deposit): £240 inc. VAT.
Referencing Fee (credit checks, employer reference, bank reference, guarantor reference checks and previous landlord reference): £180.00 inc. VAT per property.
Check-out fee (to be paid at the end of the tenancy for all managed properties, subject to the landlord having an inventory at the beginning of the tenancy): £120.00 inc. VAT.
Change of tenants during tenancy via Deed of Assignment: £90.00 inc. VAT per tenant.
Please ask a member of staff if you
have any questions about our fees.
