Letting fee schedule for the Tenant
For Tenancies commencing after 2019
Reservation fee or Holding deposit:
To reserve a property one week’s rent will be taken as reservation fees or holding deposit, this fee will be withheld if the applicant (including any guarantors) fails a Right to Rent check, provide false information, withdraw from the tenancy without signing on the agreement.
If the if the applicant is a company then an administration fees of £600.00 is payable as the reservation fee this is a non-refundable referencing fee, set up fee and contribution to the tenancy agreement
Security Deposit:
rent of under £50,000 per year.
The landlords and letting agents will ask for a deposit throughout the duration of the tenancy, A maximum amount of 5 weeks rent will be taken as deposit.
rent of £50,000 or over per year
The landlords and letting agents will ask for a deposit throughout the duration of the tenancy, A maximum amount of 6 weeks rent will be taken as deposit.
Company Let:
A full security deposit will also be required from Company (PLC, Ltd or LLP) where the tenant will be.
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.
It is the law that deposits must be kept in a protection scheme which neither the landlord nor letting agent can access until after the tenancy has ended. After the end of the tenancy or in the event the tenant vacates the property after giving valid notice period we aim to return your deposit as soon as possible, if a tenant ends the tenancy with any arrears then this the deposit can be used towards clearing the arrears. The property will be inspected prior to returning the property at times when some or all the deposit needs to be used to fix anything which may have broken whilst you have been living in the property. When the tenant disagrees that the repairs are needed, then the deposit protection scheme will become an arbitrator and decide whether the charge is fair and reasonable.
Lost keys
Tenants are liable to the actual cost of replacing any lost key(s), then the agent can make a charge for replacement of keys or locks.
Ending a tenancy early (if tenant requests)
If you want to end a tenancy before the end of the agreement, they shall be liable for the landlord’s costs in re letting the property as well as all rent due under the tenancy until the start date of the new tenant is found for the property. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
In addition to the above charges, you are responsible for paying for services such as utility bills, TV license and council tax.
