TENANT RENTAL COSTS
You pay a Holding Deposit:
This removes the property from the market whilst referencing and checks are undertaken. The holding deposit is a maximum of the equivalent of one week’s rent, which is deducted from your final moving in bill.
You will be required to sign a ‘holding deposit agreement’ once the holding deposit has been paid which will confirm the full terms of the holding deposit, outline the basic terms of the tenancy along with the deadline for agreement date.
You pay ONE MONTH’S RENT in advance:
One month in advance on or before commencement of the tenancy. Then to be paid each month by the date agreed.
You pay a DEPOSIT:
Equivalent to one month’s rent to be paid on or before commencement of the tenancy (please note deposit amounts may be subject to change at a Landlords request, however will not exceed the amount equivalent to five week’s rent).
Deposits are registered in a government approved scheme, except in cases of introduction only where the landlord is responsible for the deposit.
You will need to add the cost of tenant’s contents insurance.
Please note part or all of your holding deposit may be retained under certain circumstances eg. Providing false or misleading information, you withdraw or fail to take reasonable steps to enter in to a tenancy agreement, (further details are in the holding deposit agreement).
In letting a property it is understood that the tenant could be liable for permitted payments under the Tenant Fees Act. These are £30 inc vat for adding or removal of a clause in the contract, £120 inc vat for changing a sharer sourced by the current tenant(s), £600 inc vat to cover the cost of re-marketing, referencing and administration should a tenant request early termination of the tenancy, £18 inc vat if the Agent is required to organise the replacement of a key or security device (plus the cost of the key or security device). Terms and conditions apply to these costs or requests and are also subject to the Landlord’s consent. A breakdown of these costs are available upon request.
**Please note if you are an existing tenant these charges may vary and there may be additional charges to these if you entered into a tenancy prior to June 1st 2019 and which you could be liable for up until May 31st 2020. Please contact the office if you have any queries regarding this.