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Tenant fees

 

 

Our tenant fees for private lettings

Please note these fees do not apply to social or affordable rent tenancies.

These fees apply to all Assured Shorthold Tenancies, regardless of when they commenced.

Holding deposit (per tenancy): One week’s rent.
This is to reserve a property. 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. For tenancies signed prior to 1 June 2019, and where the tenancy has rolled onto a statutory or contractual periodic tenancy, a six week deposit may still be held under the Tenant Fee Act 2019. Where a tenancy is renewed, the deposit will be reduced to five weeks and a cheque sent to the first-named tenant by the Deposit Protection Service.

Security deposit (per tenancy – rent £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. Note: This will not be levied until the rent is more than 14 days in arrears.

Lost key/s or other security device/s: Cost Price 
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 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.

The minimum cost for this will be £162.02 which includes: Check Out: £50.00, Inventory and Check In: £95.00.

Gas Safety Certificate: Where a property has gas, inspection, testing and certification of any gas central heating system and appliances: £51.74.

PAT testing (inspection, electrical testing, certification and labelling of landlord-owned portable appliance of any type and provide written report): 4-10 items tested in one location: £5.10, 2-3 items tested in one location: £6.80, single item test: £17.02.

Please note that early termination is at the discretion of the landlord and will only be granted in exceptional circumstances.

Client Money Protection
We are exempt from CMP as Curo Market Rented Services is the landlord and all monies collected from tenants is paid into Curo Market Rented Services bank account.

All Fees are non-refundable. All tenancies are offered subject to contract and satisfactory references. If your application fails or is withdrawn, the cost is non-refundable.

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