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Holding Deposit
(Per tenancy)
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One week’s rent. This is to reserve a property.
Note: This will be withheld if any relevant person (including any guarantor(s)) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant or false or misleading information, or fails to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
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Security Deposit (per tenancy. Rent under £50,000 per year)
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Five weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
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Security Deposit (per tenancy. Rent of £50,000 or over per year).
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Six weeks’ rent
This covers damages or defaults on the part of the tenancy during the tenancy.
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Unpaid rent
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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 overdue.
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Lost Key(s) or other Security Device(s)
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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 or any other persons requiring keys will be charged to the tenant.
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Variation of Contract
(Tenant’s Request)
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To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. £50 (inc. VAT)
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Change of Sharer
(Tenant’s Request)
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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. £50.00 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher
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Early Termination
(Tenant’s Request)
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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 (capped at no more than the maximum of rent outstanding on the tenancy[1]).
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