New Assured Shorthold Tenancies (AST’s) signed on or after 1 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) withdraws from the tenancy, fails a Right to Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement (and/or deed of guarantor) within 15 calendar days (or other deadline for agreement as mutually agreed in writing).
Security deposit (per tenancy - where rent is less than £50,000 pa)
Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Security deposit (per tenancy - where rent is more than £50,000 pa)
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Interest at 3% above the Bank of England Base Rate from the 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 keys 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 cost of a locksmith, new lock and replacement keys for the tenant, landlord and 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 the lost key(s) or other security device(s).
Variation of contract (at Tenant’s request)
£50 (inc VAT) per agreed variation. To cover the costs associated with taking landlords instructions as well as the preparation and execution of new legal documents.
Change of sharer (at Tenant’s request)
£50 (inc VAT) per replacement tenant or any reasonable cost incurred if higher. To cover the costs associated with taking landlords instructions, new tenant referencing and Right to Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early termination (at 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 the 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.
Client Money Protection:
Methods of payment
We are able to accept payments by cheque or online banking, however payments by cheque will require at least eight clearing days to show as cleared funds in our account. We recommend payments are made using online banking. Please note that rent and deposit payments cannot be made by cash.