We are required by law to disclose all charges should you take a property with us to ensure that you are fully informed of the costs involved before you make any decisions. This is due to the Tenant Fees Act 2019 for Landlords and Property Agents for Assured Shorthold Tenancies (ASTs), Student accommodation and Licences.
TENANT FEES SCHEDULE
- A holding deposit of up to 1 weeks rent.
- Security Deposit (per tenancy. Rent under £50,000 per year) Five weeks rent.
- Security Deposit (per tenancy. Rent of £50,000 or over per year) Six weeks rent.
- Unpaid Rent Interest at 3% above the Bank of England Base Rate & must be more than 14 days late.
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 for the time taken replacing lost key(s) or other security device(s). Where a tenant locks themselves out of a property outside of office hours and requires an individual to collect spare keys and attend the property, to let the tenant back into the property, a call out charge of £15 per hour is payable, to cover time and travel costs. Staff call outs are not guaranteed and are subject to the individual’s availability. This is not a service that should be expected as part of any emergency call out.
Variation of Contract (Tenant’s Request)
£50 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 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 for 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.
Permitted Payments During the Tenancy
During the tenancy the tenants will pay rent and contractual damages and defaults according to the terms agreed in the tenancy agreement. Tenants are also responsible for all utility bills payable to the provider, including Council Tax, water and sewerage charges, telephone and broadband, gas, electricity, television licence, satellite and cable installations (subject to Landlord’s consent) and parking permits.
OTHER TENANTS FEE INFORMATION
The Tenant Fee Ban applies to all Assured Shorthold Agreements (AST) Student accommodation and Licences. Company lets will not be affected for those type of tenancies as a brief overview, our fees are as follows:
Holding Money
Equivalent to one week’s rent is payable and will be deducted off the final balance upon successful drawing up of tenancy
Referencing & Tenancy Agreement Fee
A charge of £180 per person is payable once an offer has been accepted.
Guarantor Fee
If a guarantor is required a further charge of £60 is payable for each guarantor.
Please note that these fees, together with any holding monies (usually 1 week’s rent), are non-refundable in the event that the referencing company reports your references as being unsuitable, or you withdraw your application, or take an unreasonable amount of time to provide us with any information required to progress the tenancy, the deposit will be forfeited in order to cover costs including: references, re-advertising the property, monies in lieu of rent owing to the property being reserved and unavailable to other potential tenants, preparing documents associated with the tenancy etc. In the event of a landlord not proceeding with a tenancy for any other reason apart from the above, an administration charge of £30 per person will be retained from the initial holding monies paid.
Prior to moving in, tenants will be required to pay the following monies unless otherwise agreed:
- First month’s rent (less one week’s holding monies paid)
- Six weeks rent as a deposit
- Above referencing and tenancy agreement fees per person
- Inventory check in costs
Please note that all the above monies must be in our account as cleared funds three working days prior to the move-in date.
Inventory
The tenants will be responsible for the inventory check-in costs. This will vary according to the size of the property and if the property is furnished or unfurnished. A quote will be obtained and provided. The cost will be £80 to £250 subject to the property. Please note costs are approximate charges.
- 1 bed £80 – £120
- 2 bed £100 – £140
- 3 bed £120 – £180
- 4 bed £140 – £220
Late Rent
During the tenancy, tenants will be charged an administration fee of £25 for each month that rent is late and where we are required to remind tenants and chase for rent. Landlords may also charge tenants interest at 3% above Bank of England Base Rate from date due for late rent payments and pass on any bank charges or costs incurred as a result of rent being received late in accordance with the tenancy agreement.
Out of Office Hours
Where the actions of the tenant results in the agent (or nominated contractor) attending the property, the tenant will be responsible for the contractors invoice or the agent’s time at a cost of £60 per hour. This includes tenants losing keys or stolen keys, lost security devices and being locked out of the property.
Contractors Call Out Charges
Where a contractor is called and the reason for the call out and repair is due to the tenants, or invited guest of the tenants, fault or misuse, then the tenant will be responsible for the contractor’s invoice. The same will apply where a tenant reports a fault and no fault is found or where the fault is as a result of the tenants misuse or actions.
The Tenancy Agreement
Please note that tenants must carefully read the tenancy agreement and obtain advice if required in order to fully understand their full contractual obligations as specified in the tenancy agreement.
Where there is more than one tenant, all tenants are jointly and severally liable and therefore each individual is responsible for other tenant’s actions in accordance with the tenancy agreement. If one tenant chooses to be released this can only happen with the landlord’s consent. If approved, the individual tenant wishing to be released must pay £90 for breaking the contract, a contribution towards the end of tenancy professional cleaning of between £60 to £120 and pay for any damages. The incoming replacement tenant will be subject to the above referencing and tenancy agreement charges.
End of Tenancy Charges
At the end of the tenancy you will be required to pay for professional cleaning of the property prior to the check out. This charge only applies where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy. The cost will vary according to the size of the property and specific quotes should be obtained. Please contact the office for details of our suggested cleaners prior to the end of the tenancy. Please note these costs are approximate.
- 1 bed £180 – £240
- 2 bed £220 – £300
- 3 bed £300 – £400
- 4 bed £450 – £600
- 5 bed £550 – £700
Tenants will also be liable for missing items, damage to the property, outstanding rent and landlord’s costs together with all tenants’ responsibilities in accordance with the terms of the Tenancy Agreement.
Utilities and Other Tenant Costs
During the tenancy the tenants will pay rent and contractual damages and defaults according to the terms agreed in the tenancy agreement. Tenants are also responsible for all utility bills payable to the provider, including Council Tax, water and sewerage charges, telephone and broadband, gas, electricity, television licence, satellite and cable installations (subject to Landlord’s consent), and parking permits.
Memberships & Client Money Protection
Please click here to certify that we’re affiliated with the Client Money Protection Scheme. In addition you may wish to read up on the guidance notes on (CMP) Handling Procedures for agents.
Letsfindahome.co.uk is also a member of The Property Redress Scheme by law, Property Agents are required to join a government authorised consumer redress scheme. The purpose of this is to give consumers of the Property Agent an escalated complaints procedure if they are unhappy with how their complaint has been dealt with by the Agent.
Please click here to certify that we are affiliated with the Property Redress Scheme.
For more information, the Government has produced the Tenant Fee Act 2019 which you may find useful.