In line with the Tenant Fees Act 2019, as of 1st June 2019, we are not charging our tenants any administration fees. Client Money Protection (CMP) is provided by Safeagent.
- Security/Tenancy deposit - capped at no more than five weeks rent if your annual rent is less than £50,000 or six weeks if your annual rent is in excess of £50,000.
- Holding deposit - capped at no more than one-week rent to reserve a property and will then contribute towards the first month's rent.
- Tenants are liable for the cost of replacing any lost keys or security device, including a change of lock or replacement of device if required.
- Payments to change the tenancy agreement (requested by the Tenant, including change of sharer) - capped at £50.00.
- Early termination of the tenancy initiated by the tenant or should a tenant need to surrender the tenancy for whatever reason, and where the Landlord agrees to re-let the property, it is the tenant's liability for the payment of rent up until a new tenant is found and takes up occupation. However, the tenant will still need to cover the Landlord's costs in surrendering the tenancy and re-letting the property.
From 1st June 2019, agents and Landlords will not be able to charge Tenants for setting up a tenancy, renewal of a tenancy or for any administration or referencing costs.
However, if the tenancy was entered into before 1st June 2019, and it was agreed in that contract to pay certain renewal fees, then a landlord or agent can charge these fees for a renewed fixed term agreement or statutory periodic agreement up until 31st May 2020. For tenancies entered into before 1st June 2019, the Landlord or agent can also charge for a check out inventory, up until 31st May 2020.
Ending your tenancy:
Unpaid Rent / Returned Payments will be subject to interest at 3% above Bank of England Base Rate from date due.
FEES FOR INDIVIDUALS NOT RENTING UNDER AN ASSURED SHORTHOLD TENANCY
- £150 per tenancy - tenancy processing, arranging contracts, registering deposits, tenant referencing (collecting and verifying references from employer/accountant and previous landlord reference as well as carrying out a credit check and collecting a copy of passport, proof of residency, bank statements and recent payslips)
- £150 - Professional Check In and Check Out Report
- £150 - Renewal negotiations, re-referencing, administering the renewal and re-registering the deposit with the DPS
Tenants who wish to rent a property in the name of a company or business will be charged a one-off fee of £300 which includes referencing and administration services for a new tenancy. Renewal will be charged at £150 for every subsequent year.