Before moving into a rental property, you must pay the following.
• Rent in advance
• Deposit
Once the landlord has accepted your offer, you must pay a reservation deposit equal to one week’s rent.
This deposit is only due when the criteria below are agreed upon.
Once we receive this deposit, we shall begin preparing the tenancy agreement, reference applications, and other tenancy administration required before the tenancy. Again, these fees are covered by the landlord.
Once your offer is accepted, we will not take any further offers to the landlord or take any more holding deposits.
Your holding deposit is refundable if
• The landlord withdraws from the offer.
• The property does not meet the criteria mentioned above in “When do I pay my holding deposit?”
If you withdraw your offer, you may lose your holding deposit if
• We cannot find a replacement tenant to meet your intended move-in date.
• The landlord has incurred costs due to your offer being accepted. Cost of referencing may be a cost, buying additional items at your request etc.
We try to avoid this wherever possible and work with you if there is a problem.
Your rent will be agreed upon in advance when making your offer. It is normal for employed tenants to pay rent monthly in advance. However, if you study or have no credit history in the UK, we may advise the landlord to request an advance payment. This is very common for overseas students and individuals who have irregular incomes.
Your deposit or security deposit is held against damages to the property. It may include cleaning and replacement of furniture, lightbulbs, etc. Sometimes, outstanding rent is deducted from the deposit.
If the annual rent is below £50,000 per annum, the deposit will equal five (5) weeks’ rent. For rents above £50,000 per annum, we charge six times the weekly rent as a deposit.
Charges are made to an existing tenant if there are additional costs for us to change the contract, change tenants, or make other irregular arrangements.
Below is a list of costs incurred during an active tenancy.
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, 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 to replace the lost key(s) or another security device (s).
As a tenant, your primary responsibility is to pay the rent until the end of the contract. However, we understand that sometimes circumstances can change unexpectedly. 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.
The Tenant Fees Act came into force on 1 June 2019.
All payments are prohibited unless the amount is permitted under the Tenant Fees Act.
The Tenant Fees Act prevents landlords and their agents from requiring tenants to make any payment as a condition of granting, renewing or continuing a tenancy apart from:
The Secretary of State can amend the list of Permitted Payments but cannot remove rent from the permitted categories of payment.
IF YOU HAVE ANY QUESTIONS RELATING TO OUR FEES, PLEASE ASK A MEMBER OF STAFF
