Tenant Fee Ban Is Coming 1st June
Fri 24 May 2019
After two years of legislation preparation, the ban on upfront fees to tenants in English rental properties becomes law on the 1st June 2019.
Fees from 1st June 2019
Holding deposit
We do not require a holding deposit but please note that the property will remain on the market until the tenancy agreement is signed by both tenant and landlord.
Before you move in:
Security Deposit
Rent under £50,000 per year = Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Rent of £50,000 or over per year = Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent.
Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security devices. 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 (inc. VAT) for the time taken replacing the lost key(s) or other security devices (s).
Variation of Contract (Tenant’s Request)
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. 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.
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.
Fees from 1st June 2019
Holding deposit
We do not require a holding deposit but please note that the property will remain on the market until the tenancy agreement is signed by both tenant and landlord.
Before you move in:
Security Deposit
Rent under £50,000 per year = Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Rent of £50,000 or over per year = Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent.
Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security devices. 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 (inc. VAT) for the time taken replacing the lost key(s) or other security devices (s).
Variation of Contract (Tenant’s Request)
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. 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.
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.