Independent Property and Financial Advisers
Independent Property and Financial Advisers
Independent Property and Financial Advisers
Information and fee schedule for tenants
All Assured Shorthold Tenancy (AST) agreements beginning from 1st June 2019 onwards are subject to the tenant fee act 2019 legislation. As such, permitted tenant payments are as follows:
Rent: As agreed for the property
Holding Deposit: Equivalent of one week’s rent. This is to reserve a property. Please Note: This will be non-refundable if any relevant person (including any guarantors) withdraws from the tenancy application, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement within 15 days or an agreed time period.
Tenancy Security Deposit: This covers damages or defaults on the part of the tenant during the tenancy and is held in a Deposit Protection Scheme during the full course of the tenancy. The deposit shall be a maximum of 5 weeks’ rent for a total annual rent of less than £50,000, or 6-weeks’ rent for a total annual rental of £50,000 and above.
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 Keys or Security Devices: 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): Payments to change a tenancy agreement requested by the tenant e.g., change of sharer, shall be capped at £50 including VAT (or, if higher, reasonable costs)
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
Utilities and Subscription Services: Unless otherwise agreed in advance and in writing, the tenants shall be liable for the payment of: Council Tax, Utilities (electricity, Gas, Water), Communication and Subscription services, TV licence, and such like, during the full term of the tenancy and until officially checked out of the property.
Any other payments permitted under the Tenant Fees Act 2019.
Redress scheme and Client Money Protection: The Property Ombudsman and SafeAgent