Deposits and Charges

Holding Deposit (with your permission this can be deducted from the first months rent)

One week's rent to reserve the property. This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security deposits

The amount of the deposit is subject to the following caps:

No more than 5 weeks rent where the annual rent for the tenancy immediately after its grant, renewal or continuance is less than £50,000.

No more than 6 weeks rent where the annual rent for the tenancy immediately after its grant, renewal or continuance is £50,000 or more.

Rent arrears

The tenant shall pay to the landlord/agent interest at the rate of 3% per annum above the bank of England base rate from time to time on any rent or other money payable under this agreement remaining unpaid for more than 14 days after the day on which it became due.

Early Termination (Tenant’s 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.

Permitted tenant payments for assured shorthold tenancies

Variation/ Novation: £50 inclusive of VAT

Change of Occupier/Sharer Group: £50 inclusive of VAT

Loss of keys or other Security Devices: Cost of replacement. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken.