NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1ST JUNE 2019.
Holding Deposit (per tenancy)
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 on the application form).
Security Deposit (per tenancy. Rent under £50,000 per year)
Five week’s 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 week’s rent
This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent
Interest at 0.75% above the Bank of England Base Rate from Rent Due 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(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security deposit(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.
Variation of Contract (Tenant’s 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 (Tenant’s Request)
£50 (inc VAT) 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.
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.
If you have any questions about any of the above, please get in touch.
How do we ensure our tenants are protected?
We are a registered member of the Propertymark Client Money Protection Scheme. This is a client money protection scheme to ensure your money is handled within the correct manner. Download a copy of our Client Money Protection Certificate here.
We are also members of The Property Ombudsman, which is a redress scheme for consumer complaints.