Tenancy InformationAt Wards Property, we believe in being open and transparent about any costs linked to your tenancy – so there are no surprises.
When you’ve found the right property, we’ll give you a
Tenancy Application Form This will clearly explain:
- The next steps in your application
- Any permitted payments before you sign your Tenancy Agreement
- Any possible charges during or after your tenancy
- The agreed rent and deposit amount
Below is our guide to
permitted payments under the
Tenant Fees Act 2019 If you’d like a personalised breakdown for a specific property, just ask a member of our team.
Holding Deposit – One week’s rentThis reserves the property for you.
We can only keep this if:
- You (or your guarantor) withdraw from the tenancy
- You fail a Right to Rent check
- You provide false or misleading information
- You don’t sign the tenancy agreement (and/or guarantor agreement) within 15 calendar days, or any other agreed deadline
Security Deposit
- If rent is under £50,000 per year – Five weeks’ rent
- If rent is £50,000 or more per year – Six weeks’ rent
This covers damages or defaults during the tenancy. Deposits are protected in line with legal requirements.
Unpaid RentInterest is charged at
3% above the Bank of England Base Rate, starting 14 days after rent is due, until payment is made.
Lost Keys or Security DevicesYou’ll be charged the
actual cost of replacement.
If locks need changing, costs will include the locksmith, new lock, and keys for all parties.
If extra time is required, we charge
£15 per hour (inc. VAT) for our time in arranging this.
Changes to Your Tenancy Agreement (at your request) – £50 (inc. VAT)This covers landlord approval, preparation, and signing of updated legal documents.
Change of Tenant (at your request) – £50 (inc. VAT) or the actual cost if higherThis covers landlord approval, referencing, Right to Rent checks, deposit updates, and new legal documents.
Ending Your Tenancy Early (at your request)If you leave before your contract ends, you’ll be responsible for:
- The landlord’s re-letting costs
- The rent until a new tenancy starts
These costs will never be more than the total rent remaining on your agreement.
Client Money Protection: Client Money Protect
Redress Scheme: The Property Redress Scheme prs