Lettings Charges

Our team of Lettings experts will guide you through the various charges required by Landlords. But don't worry - it's all very straight forward!

Prior to moving in, there are several steps that will be implemented and several further things that are important you are made aware of.

Letting fees information

New Assured Shorthold Tenancies (AST's) signed on or after 1st June 2019

Apart from paying the rent, you may also be required to make the following permitted payments.

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 peruse 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 needed to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord or any other persons requiring keys will be charged to the tenant. If one of our employees is required to attend and 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 any 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 cost 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.

Non AST's signed on or after 1st June 2019

For any individual tenant not renting a property under an Assured Shorthold Tenancy the following charges are also payable:

Tenancy Administration charge - £300 inc VAT per tenancy

Reference charge - £60 inc VAT per tenant or guarantor –

For each person named on the tenancy agreement a full set of references will be requested, gathered and reviewed including but not limited to employment, previous landlord, credit checks and identification. This will be carried out by an independent referencing company who will provide a recommendation to your landlord regarding your suitability as tenants.

Check-in charge -

The check-out report enables the adjudicator to identify any deterioration in the condition of the property during the tenancy. Prices can vary on this dependent upon the size of the property and whether it is furnished or unfurnished. For a 1 to 5 bedroom property prices range between £122 - £278 (Inc VAT). There is an additional fee of £24 per room (Inc VAT).

Renewal charge - £150 Inc VAT per renewal

INSURANCE

While the Landlord will have insurance in place to cover their property, we advise tenants to take out their own contents insurance and accidental damage insurance.

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