Holding deposit (pre tenancy)
One week's rent This is to reserve a property. Please Note: This will be withheld (not returned) if any relevant person (including any guarantor(s)) withdraws 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). Our agency will not progress an application until the holding deposit of one week's rent has been paid and an application form is completed and returned by the applicant(s). To avoid unnecessary delays, it’s important that you return your application form(s) within 48 hours. The holding deposit is the equivalent of one week’s rent, which once paid, is offset against the total balance due.
A tenancy cannot be completed until the agreed first month’s rent and deposit are paid in full. On occasions, the Landlord may request a guarantor in order to offer a tenancy subject to referencing. The holding deposit is non-refundable should following referencing, it is discovered that key material facts have been omitted or prove false which then leads to the Landlord declining your application.
If the Landlord decides against proceeding with the tenancy, the tenant will receive a full refund of all monies paid. Please ensure that before applying and paying your holding deposit that you provide full, truthful information and check with the local agent regarding affordability
Tenants fee schedule
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(s)) withdraws 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 (per tenancy. Rent under £50,000 per year)
Five weeks' 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 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 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 locks 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)
£40 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)
£40 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.
A Tenant can request permission to keep a pet in the property before the holding deposit is paid and the tenancy is entered in to. A pet residing in the property will affect the monthly rental payment. Properties are often advertised at a higher rent to allow permission for a pet - this is property/pet specific so you should request permission or more details with your local branch.
A Tenant is warned that the Landlord’s Insurance policy does not cover his possessions. The Tenant should hold adequate insurance to protect against accidental damage caused by the Tenant to the Landlords Fixtures and Fittings at the Premises as described in the Check-in Inventory and Schedule of Condition. The Tenant should consider their need for Insurance to cover their own personal possessions.
Our helpful team are on hand to answer any queries and concerns you may have.