Payment of a holding deposit equivalent to one week’s rent will be required once the Landlord has agreed to proceed with the application. With the Tenant’s written consent, the holding deposit will be “repaid” to the Tenant(s) by allowing the Tenant(s) to deduct the equivalent sum from the first months’ rent payment.
Note, the holding deposit will be withheld if Tenant(s) or 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 Guarantor Agreement if applicable) within 15 calendar days of paying the holding deposit (or other Deadline for Agreement as mutually agreed in writing).
Before the tenancy commences and once the Tenancy Agreement has been signed the Tenant(s) will be required to pay a deposit to the value of 5 weeks’ rent.
INITIAL RENT PAYMENT
Before the tenancy commences and once the Tenancy Agreement has been signed the Tenant(s) will be required to pay the first months’ rent.
PERMITTED PAYMENTS FOR TENANTS IN AN ASSURED SHORTHOLD TENANCY:
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 and replacement keys for the Tenant(s), Landlord(s) 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 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 Landlord’s 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 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 (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 rent due under the tenancy until the start date of the replacement tenancy.
Late payment of 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.
Company Referencing Fee - £150.00 (inc VAT)
Renewal Company Letting Agreement - £60.00 (inc VAT)