Holding deposit - one weeks rent (Inc VAT).
This is to reserve a property off the (Per Tenancy) market subject to references. The holding deposit can be retained by the agent if any applicant/s or guarantor provides false or misleading information. To include withdrawing from the tenancy, failing a Right-To-Rent check, or failure to sign their tenancy agreement / deed of guarantee within in 15 days of the agent receiving the holding deposit. (Unless another deadline for the agreement has been mutually agreed)
One week is calculated at monthly rent x 12 (months of the year) / 52 weeks of the year.
Tenancy deposit - four or five weeks rent.
This covers any damages, defaults or unpaid bills at the end of the tenancy. Some landlords may request a deposit of five weeks rent if the applicant has pets.
Tenant is liable to pay the cost of replacing any lost key/s or security device/s at the cost price of the key/s or security device/s. Invoice evidence will be given to the tenant as confirmation. If further costs are incurred to the agent a charge or £15.00 per hour (inc VAT) for the time taken in replacing the key will be charged to the tenant.
Interest of 3% above the bank of England’s Base Rate will be charged to the tenant, from the rent due date until the unpaid rent payment has been made. This default fee will be enforced once the tenant falls more than 14 days in arrears.
Amendments to the tenancy - £50.00 (inc VAT).
Where the tenant requests a change to the tenancy agreement, the tenant is liable to cover the costs involved in negotiating with the landlord, taking the landlords instructions, preparing the new agreements, preparing new right to rent documents and deposit registration.
If the tenant requests to leave before the end of their tenancy, the tenant will be liable to pay the landlords costs in reletting the property and any rent/utility bills until the new tenancy commences. This cost will be no more than the rent chargeable till the end of the tenancy.