On 1st June 2019 the Tenant Fee Ban came into force in the UK. Whilst some charges were abolished and/or amended under the Bill, as well as paying the rent tenants will also be required to make permitted payments.
Before the tenancy starts (payable to the Agent)
Holding Deposit: 1 weeks rent
Deposit: 5 weeks rent
During the tenancy (payable to the Agent) - detailed charges noted below
1. Payment if you want to change the Tenancy Agreement
2. Payment of interest for reasonably late payment of rent
3. Payment for the incurred costs for the loss of keys/security devices
4. Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy
During the tenancy (payable to the provider/supplier)
1. Utilities – gas, electricity, water
2. Communications – telephone & broadband installation and or subscription to cable/satellite
3. Television licence
4. Council Tax
New Assured Shorthold Tenancies (AST's) signed on or after 1st June 2019
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.
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 Devices
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 (Tenants 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 (Tenants 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 (Tenants 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.
Please ask a member of staff if you have any questions about our fees
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.
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 Devices
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 (Tenants 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 (Tenants 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 (Tenants 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.
Please ask a member of staff if you have any questions about our fees
Tenant Protection
Client Money Protection
Propertymark
www.propertymark.co.uk
Independent Redress Scheme
The Property Ombudsman
www.tpos.co.uk
