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Tenant Fees

Fees and Policies Explained

When embarking on a new tenancy agreement, it's crucial to be well-informed about the financial aspects and policies that come into play. In this guide, we will provide you with a clear understanding of the fees associated with your tenancy, as well as the policies that govern them. From holding deposit fees to security deposits and more, we aim to help you navigate the financial commitments that come with securing your new home.

It's our commitment to transparency and clarity, ensuring that you have the information you need to make informed decisions throughout your tenancy journey. Let's get started on this important exploration of tenancy fees and policies.

Holding Deposit (per tenancy) - Equivalent to one week's rent.

This fee confirms the application for your tenancy. Please be aware that this fee may be retained in case any relevant party, including guarantors, withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or doesn't sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or as mutually agreed in writing for other Deadline for Agreement).

Security Deposit (per tenancy. Annual rent below £50,000) - Five weeks' rent.

This deposit serves to cover any potential damages or defaults by the tenant during the tenancy.

Security Deposit (per tenancy. Annual rent of £50,000 or higher) - Six weeks' rent.

This deposit serves to cover any potential damages or defaults by the tenant during the tenancy.

Unpaid Rent

Interest at a rate of 3% above the Bank of England Base Rate, calculated from the Rent Due Date until the rent is paid, in order to recover unpaid rent. Please note that this interest will only be applied if the rent is overdue by more than 14 days.

Lost Key(s) or other Security Device(s)

Tenants are responsible for covering the actual cost of replacing any lost key(s) or other security device(s). If the loss necessitates the replacement of locks, the actual expenses for locksmith services, new locks, and replacement keys for the tenant, landlord, or any other individuals requiring keys will be billed to the tenant. Additionally, if extra expenses are incurred, a charge of £25 per hour (plus VAT) will be applied for the time taken to replace the lost key(s) or other security device(s).

Variation of Contract (Tenant's Request) - £50 (including VAT) per agreed modification.

This fee includes the expenses associated with obtaining the landlord's instructions and preparing and executing new legal documents.

Change of Sharer (Tenant's Request) - £50 (plus VAT) per replacement tenant or any reasonable costs incurred if higher.

This fee covers the expenses related to receiving the landlord's instructions, conducting new tenant referencing and Right-to-Rent checks, deposit registration, and preparing and executing new legal documents.

Early Termination (Tenant's Request)

In the event that the tenant wishes to terminate their tenancy agreement early, they will be responsible for the landlord's costs in re-letting the property and all rent due under the tenancy until the start date of the replacement tenancy. These costs will not exceed the maximum amount of rent outstanding on the tenancy.

Please do not hesitate to inquire with our staff if you have any questions regarding our fees.