For Assured Shorthold Tenancies (ASTs) Signed On Or After 1st 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(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).
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 lock 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 (Inc VAT) for the time taken replacing lost key(s) or other security device(s). Where a tenant locks themselves out of a property outside of office hours and requires an individual to collect spare keys and attend the property, to let the tenant back into the property, a call out charge of £15 per hour (Inc VAT) is payable, to cover time and travel costs. Staff call outs are not guaranteed and are subject to the individual’s availability. This is not a service that should be expected as part of any emergency call out.
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 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 for 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.
Permitted Payments During the Tenancy
During the tenancy the tenants will pay rent and contractual damages and defaults according to the terms agreed in the tenancy agreement. Tenants are also responsible for all utility bills payable to the provider, including Council Tax, water and sewerage charges, telephone and broadband, gas, electricity, television licence, satellite and cable installations (subject to Landlord’s consent), and parking permits.