Tenant Fees for Assured Shorthold Tenancies
Applies to all assured shorthold tenancies signed after 1st June 2019.
A holding deposit of £100 is required to reserve a property (if the rent is less than £433pcm, the holding deposit will be equivalent to one week’s rent). The holding deposit will be held by us for a period of up to 14 days. At the end of the 14-day period, the deposit will be refunded to you or be offset against your rent unless any of the proposed tenants or guarantors:
– withdraw from the tenancy
– fail a Right to Rent check
– provide false or misleading information, or
– fail to enter into a tenancy by the deadline despite all reasonable steps being taken by us.
Once the application is accepted, the tenant will be required to pay the equivalent of one month’s rent as a deposit. This is held by the Deposit Protection Service (DPS), whom safeguard the deposit throughout the tenancy and repay the funds to the appropriate parties. The tenant will also be required to pay the first month’s rent in advance.
If you request any variation to the terms of the tenancy after the agreement has been signed, a charge of £50 (inclusive of VAT) will be charged.
ENDING THE TENANCY EARLY
If you wish to end your tenancy before the end of the fixed term, you will be responsible for the landlord’s reasonable costs of reletting the property and all rent due under the tenancy until the start of any new replacement tenancy. Our costs and rent combined will not be more than the total of the remaining rent due under the tenancy.
If rent is unpaid for more than 14 days, interest will be payable at 3% per annum above the Bank of England base rate until the rent is paid.
LOST KEYS OR SECURITY DEVICES
You will be liable for the actual cost of replacing any lost keys or other security devices.