Tenants Service
TENANT FEES SCHEDULE
NEW ASSURED SHORTHOLD TENANCIES ON OR AFTER 1 JUNE 2019
Holding Deposit (per tenancy): One week’s rent 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 for rent under £50,000 per year
Five weeks’ rent.
Security Deposit for 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 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 needing to be changed, the actual costs of a locksmith, new lock(s) 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 for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request): £50 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 (Tenant’s Request): £50 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 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.
EXISTING ASSURED SHORTHOLD TENANCIES
BEFORE YOU MOVE IN
Set-up Fee: £350.00 per tenancy.
Referencing for first tenant (ID checks, Right-to-Rent check, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.
Additional Tenant Referencing Fees: £70.00 per tenant.
Guarantor Fee: £70.00 per guarantor covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Permitted Occupier Fee: £70.00 per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Check-in Fee: £70.00 per tenancy: Attending the property to welcome the tenant(s), confirm the Inventory and Schedule of Condition, explain the operation of appliances, highlight the location of utility meters, stop-cocks etc. and test that all smoke alarms and carbon monoxide detectors are present and in working order. This is subject to an approved Inventory as above.
Pet Deposit: Additional Security Deposit of £500.00 to cover the added risk of property damage. This will be protected with your security deposit in government- authorised scheme and may be returned at the end of the tenancy.
DURING YOUR TENANCY
Renewal Fees: £90.00 per tenancy: Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Variation of Contract Fees: £60.00 per request: To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer Fee: £70.00 per replacement tenant: 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.
ENDING YOUR TENANCY
Early Termination: All rent due under the tenancy until the start date of the replacement tenancy. Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
OTHER FEES AND CHARGES
Lost Key(s) or other Security Device(s): £15.00 plus item cost. Obtaining necessary permissions, sourcing providers and travel costs.
Rent Arrears: £25.00 per letter plus £15.00 per day until payment is made from Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with chasing unpaid rent.
Duplicate Document(s): £30.00 per document to cover the agent’s costs associated with providing additional copies of any paperwork (tenancy agreement, Inventory, Schedule of Condition etc.) when requested by a tenant.
Thomas Marsh is a member of Propertymark, which is a client money protection scheme and a member of The Property Ombudsman, which is a redress scheme. You can find out more by contacting the agent directly.
ALL FEES ARE INCLUSIVE OF VAT.
