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Five week’s rent as deposit. Except in cases where the annual rent is £50,000 or more, in which case the amount of deposit collected will be equivalent to six weeks rent.
Holding Deposit –
To reserve a property for a tenancy the costs are equivalent to one week’s rent per property, which is deductible from first rent payment or the deposit due. Should the applicant withdraw after a period of seven days the Landlord will be entitled to receive the holding deposit. Otherwise the holding deposit will be returned, once reasonable costs have been demonstrated and evidenced, e.g cost of references. Should the applicant not give written consent to extend the 14 days ‘deadline for agreement’ the whole amount of holding deposit will be returned. Should the tenant give written consent to extend the ‘deadline for agreement’ and subsequently withdraw the Landlord will be entitled to retain the whole amount of the holding deposit.
We will always provide written notification and reasons for retaining the holding deposit in case of this eventuality.
Tenant Late Paying Rent Charge -
If a tenant pays rent late by more than 14 days a fee not more than 3% above the Bank of England’s base rate will be charged, for each day the payment is outstanding.
Costs of Replacing Key or Security Device -
On presentation of a receipt the tenant will be charged for the costs of replacing the key or security device, in addition to reasonable arrangement costs not exceeding £15.00.
Written advice and evidence will be provided in situations where keys have been obtained and charges are made.
Changes to Tenancy -
Costs for any alteration in the tenancy will not exceed £50.00.
In cases where it is reasonable to do so, such as multiple amendments we will demonstrate in writing any additional costs and proffer a charge in excess of £50.00.
Early Termination Fees -
The tenant will be liable for rent until the end of the tenancy agreement, or if periodic expiry of the proceeding rent period.
Where new tenants are required we will evidence and demonstrate costs involved in replacing those tenant. If there is a break clause the tenancy will not be liable for any fees.
Client Money Protection -
All client monies are held and operated from a separate designated account which is insured by the professional regulatory body Property Mark scheme reference C0123148