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Tenants

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.


Landlords

Lettings Service - 10% Of Rent (inc.VAT)

Agree the rental value

Provide guidance on compliance with statutory provisions and letting consents

Advise on refurbishment requirements

Erect board outside property in accordance with Town and Country Planning Act 1990 (where possible)

Market the property and advertise on relevant portals

Carry out accompanied viewings (as appropriate)

Find tenants

Provide tenants with method of payment

Management Service - 16% Of Rent (Inc. Vat)
Includes the Letting Service plus:

Carry out regular inspections

Arrange routine repairs and instruct approved contractors

24/7 Emergency service

Hold keys throughout the tenancy term

Advise all relevant utility providers of any changes

Security Deposit dilapidation negotiations

Rent Protection - £22 Per Month (inc. VAT)
For Managed Properties:

Pay you all of your rent whilst the tenant is still in possession of the property.

Pay for and manage the full legal eviction process.

Pay to pursue the tenants through the courts should they have damaged the property to a level which the deposit is insufficient to cover

Additional Fees For Statutory Compliance

Energy Performance Certificate (EPC) £90 (inc. VAT)

Gas Safety Certificate (GSR) £108.00 (inc. VAT)

Electrical Installation Condition Report (EICR) £225 (inc. VAT)

Portable Appliance Testing (PAT) with EICR £65 (inc. VAT)

Legionella Risk Assessment with EICR £65 (inc. VAT)

Installing Smoke alarms £25 per alarm with EICR (inc. VAT)

Installing Carbon Monoxide alarms £45 per alarm with EICR (inc. VAT)

Start Of Tenancy Fees

Deposit Registration Fee £90 (inc. VAT)

Inventory Fees £168 to £228 dependant on the size of the property

Client Money Protection:
www.propertymark.co.uk

Independent Redress:
www.tpos.co.uk