for Tenants

For any new Assured Shorthold Tenancies (AST's) signed on or after 1st June 2019

Holding Deposit

One weeks' rent
This is what we ask for to reserve the property for you.

This will be withheld if for any reason you (or any other tenants or guarantees on the application) withdraw from the tenancy, fail a right-to-rent check, provide materially significant false or misleading information or otherwise fail to sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other deadline for agreement mutually agreed between us in writing).

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Security Deposit

Five weeks' rent

This is per tenancy, and applicable to tenancies with a rent of under £50,000 per year.

This covers any damages or defaults on the part of the tenant during the tenancy.

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If your rent is over £50,000 per year, then the security deposit will be Six weeks' rent.

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Unpaid Rent

Interest at 3% above Bank of England Base Rate

This is charged from the date when the rent payment was due and will be charged until the rent is paid in order to pursue non-payment of rent.

(We won't levy any interest until the rent becomes more than 14 days in arrears).

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Lost Keys or Fobs

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 (No VAT) for the time taken replacing lost key(s) or other security device(s).

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Variation of Contract (at Tenants Request)

£50.00 (No VAT) per agreed variation

This is to cover our costs associated with taking the landlords instructions as well as the preparation and execution of new legal documents.

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Change of Sharer (at Tenants Request)

Minimum £50.00 (No VAT) per replacement tenant

This is 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. If for any reason our reasonable costs incurred in replacing a tenant are going to be higher, we will notify you straight away and advise you what our costs are likely to be before taking any action.

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Early Termination (at Tenants 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.