For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:
Price Including VAT
Holding Deposit (per tenancy)
Equal to 1 weeks (agreed) 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, fails the right to rent check, provide materially significant false or misleading information or fail to sign their tenancy (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Should the Tenant(s) withdraw or fail referencing due to non-disclosure and/or falsified references this fee will not be returned.
It will be used as a contribution towards your first months rent or Tenancy Deposit if the Tenancy proceeds to move in/completion.
Tenancy Deposit (per tenancy)
Rent under £50,000 per year : 5 weeks rent - covers damages or defaults on the part of the tenant during the tenancy
Rent of over £50,000 per year : 6 weeks rent - 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 the 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 : Tenants are liable for the actual cost of replacing any lost keys(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 and/or any other persons requiring keys will be charged to the Tenant(s).
Variation of Contract
(Tenants Request)
£50 + VAT per agreed variation
To cover the costs associated with taking the landlords instructions as well as the preparation and execution of new legal documents.
Change of Sharer
(Tenants Request)
£50 + VAT per replacement tenant or any reasonable costs incurred if higher To cover the costs associated with taking the landlords instructions, advertising the property for let and for the preparation and execution of new legal documents.
Early Termination
(Tenants Request)
This is not an automatic right and will be reviewed & agreed on a case by case basis. Should the tenant(s) wish to terminate their contract early, they shall be liable for the landlords reasonable costs in re-letting the property to a maximum of £250 + VAT as well as the rent due under the tenancy until the start date of the replacement tenancy. Please note the total cost to the tenant will not exceed the maximum of the total rent outstanding on the property.
Exceptional Circumstances
(Tenants Request)
If extra costs are incurred there will be a charge of £15 per hour + VAT for the time taken by the Landlord/Agent in certain limited circumstances. Such costs will be verified in writing in advance where possible. Charges may occur for example when; replacing lost key(s) or other security device(s) eg time taken/costs incurred for delivery to the property, early termination, change of sharer, variation of contract.
