Tenant Costs

There are no direct fees payable for the setup of a tenancy, but the following costs will apply to new tenancies:

• Holding Deposit
  New tenants must pay no more than one week’s rent to secure a property. This amount will be deducted from the first month’s rent. This balance will be withheld if any tenant (or guarantor) provides false or misleading information, or fails to meet paperwork deadlines as agreed (or within 14 days (whichever is later).
• Tenancy Deposit (five weeks’ rent)
  This amount is held against the tenancy for its duration in order to cover any damage to the property (over and above wear and tear) or defaults in rent.
• Advance Rent
  The first month’s rent will be required in advance of the commencement of the tenancy.
• Tenants may be charged £50 (including VAT) for any changes made to the contract after it has been signed, including change of sharer.
• Interest will be applied to any unpaid rent at a rate of 3% above the Base Rate for the Bank of England for the duration of any time the rent remains unpaid. This will be applied to the account in the event a rent payment or portion thereof is 14 days or more in arrears.
• The tenant will be liable to the cost of replacing any keys or security devices, to a maximum of £30 (including VAT) per item. If the loss leads to locks requiring replacement, the tenant will be liable for this replacement and the cutting of required replacement keys, including those for the agent, the landlord, and any further tenants.
• In the event the tenant wishes to end the contract sooner than the end of a fixed term, then the tenant will be required to pay for the landlord’s costs in re-letting the property as well as any rent due under the current tenancy until the start date of the new tenancy. These costs will be capped at the total of remaining rent for the existing tenancy.