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TENANT FEES SCHEDULE

FOR EXISTING ASSURED SHORTHOLD TENANCIES (ASTS) AND ALL ASSURED TENANCIES.

(THOSE SIGNED BEFORE 1 JUNE 2019)

Explanation of our Tenancy Fees

For existing tenancies (those signed before the 1 June 2019) under the Tenant Fees Act, there is a transitionary 12 month period ending 31st May 2020 where fees will continue to apply as set out below. Under the rules if an existing tenancy drops onto a statutory Periodic or Contractual Periodic this is classed as an extension of the existing tenancy agreement. For any new tenancy signed on or after 1 June 2019 please refer to ‘New Assured Shorthold Tenancies (ASTs) Signed on or after 1 June 2019.’ The fees quoted below are in addition to any rent and deposit that is due under a Tenancy Agreement.

Tenant Deposit

A deposit equivalent to one and half months’ rent will be required, unless otherwise stated, to be paid at the start of the tenancy. This is subject to referencing. A landlord may require a higher deposit if the referencing criteria is not met. Further details will be provided at that time.

Pet Deposit

Where it is agreed that a pet is allowed, an additional pet deposit will be required. The minimum additional deposit per pet will be £250.00, although in many cases a landlord may require a pet deposit equivalent to one month’s rent. Depending on the type of pet, you may be required to have all carpets and curtains professionally cleaned and fumigated at the end of the tenancy. Receipts will be requested as proof.

Goodlord Platform Administration Fee

Where the Goodlord platform is required to process a tenancy application there will be an administration fee of £6.00 including VAT per tenant payable at the final stage of the Goodlord process. 

TENANCY FEES

Fee

Cost including VAT

Explanation

Individual References

£120 per person

This is charged for each tenant applying for the tenancy.

Guarantor Referencing

£120 per guarantor

This fee applies only if a guarantor is required and is charged for each Guarantor that is referenced.

Company Reference

£240 per transaction

Company or business reference fee.

Tenancy Preparation Fee

£120 per transaction

Administration fee for preparing of lease documents

Inventory Check Fee

£120 per transaction

Where applicable, this is charged per tenancy and deals with aspects surrounding Deposit Registration, Inventories, and Move In Procedures.

 

You should be aware that the need for a guarantor may not become apparent until your referencing, (including for any joint tenants) has been completed. Therefore guarantor referencing fee(s) will only become payable should a guarantor be required.

 

For USAF personnel, referencing fees are not applicable, although you will be required to pay £120 to reserve the property.  This is to secure the property which will be marked “Let Agreed” and will go towards the full balance of monies due at move in. However, where you do not proceed with the tenancy and withdraw your application, you will be charged a withdrawal fee of £120 including Vat. Where a property is managed or we are required to provide an inventory, an Inventory Check Fee will be required.

 

Please be aware of Additional FeesImage result for property ombudsman logo

Fee

Cost Including VAT

Explanation

Unattended Booked Inspection Appointment

£30

 per Appointment

Where an inspection has been arranged and you fail to attend without prior notification.

Late Rent Payments

£12 per

Written Demand

Where a late rent payment prompts a written rent demand (five days after rent due date)

 

 

                                        

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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.

Unpaid 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.

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). 

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 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.

 

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