Equivalent to One week’s rent

For properties in England, a holding deposit of one week’s rent is required to reserve a property. This is permitted under the Tenant Fees Act 2019 (England) and allows the property to be taken off the market while referencing and Tenancy paperwork are completed.

If the Tenancy proceeds, the holding deposit will be applied towards the first month’s rent In accordance with the Tenant Fees Act 2019. 

The holding deposit will only be retained if:- 

• The applicant (or any relevant person, including a guarantor) withdraws from the proposed Tenancy
• The applicant (or any relevant person) provides false or misleading information which materially affects the Landlords decision to let the property
• The applicant fails a Right to Rent check
• The applicant fails to take all reasonable steps to enter into the Tenancy Agreement within 15 calendar days of payment of the holding deposit (or within another deadline agreed in writing).

If the Landlord or Letting Agent decides not to proceed with the Tenancy, or the Tenancy does not proceed for reasons outside the applicant’s control, the holding deposit will be refunded in full within 7 days, as required by law.

Where the holding deposit is retained, written confirmation of the reason for retention will be provided within 7 days.

For Tenancies in England where the annual rent is under £50,000 per year, a refundable security deposit equal to five weeks’ rent is payable. This amount is capped in accordance with the Tenant Fees Act 2019 (England).

For Tenancies in England where the annual rent is £50,000 or over a year, a refundable security deposit equal to six weeks’ rent is payable. This amount is capped in accordance with the Tenant Fees Act 2019 (England).

Your deposit is protected in a government-approved Tenancy deposit scheme to keep your money safe. It is held to cover any unpaid rent or damage to the property (excluding fair wear and tear) in line with the terms of your Tenancy Agreement.

At the end of your Tenancy, once the property has been checked and the final rent amount agreed, your deposit will be returned within 10 days of both parties confirming. If any deductions are proposed, these will be clearly explained and handled through the deposit protection scheme’s resolution process, if needed.

The following fees (payable to the provider) if permitted and applicable

• Utilities - Gas, Electricity, Water
• Communications - Telephone and Broadband
• Installation of Cable/Satellite
• Subscription to Cable/Satellite supplier
• Television Licence
• Council Tax

If rent remains unpaid for more than 14 days, interest is charged on the overdue amount. The interest rate is set at 3% above the Bank of England Base Rate, calculated from the date the rent became due until it is paid. This charge is permitted under the Tenant Fees Act 2019 and is intended to cover reasonable costs associated with managing late rent payments. Interest will not be applied to rent that is less than 14 days overdue. 

Please contact us as early as possible if you experience payment difficulties, so we can work together to find a suitable solution.

If you request a change to your existing Tenancy Agreement, a fee of £50 inclusive of VAT (£41.67 plus VAT) will apply for each agreed variation. This is to cover the costs associated with taking Landlord’s instructions and the costs of preparing and issuing the updated legal documents.

If you need to replace a Tenant in a joint or shared Tenancy, a fee of £50 inclusive of VAT (£41.67 plus VAT) applies for each replacement. In some cases, if the reasonable costs incurred exceed £50, we may charge the higher amount, provided this is evidenced in writing accordance with the Tenant Fees Act 2019.  This fee covers all the steps involved in updating the Tenancy, including:

• Covering the costs associated with taking Landlord’s instructions
• Referencing the new Tenant and completing Right-to-Rent checks Updating the deposit registration 
• Preparing and signing the updated Tenancy Agreement

This ensures the Tenancy remains legally up to date and protects both the Landlord and all Tenants.

If you lose a key, fob, swipe card or any other security device, Tenants are responsible for the cost of replacement. If the loss means the locks need to be changed, the cost of a locksmith, new locks and replacement keys, fobs, or swipe cards for everyone whom needs access will be charged.

If you request to end your Tenancy before the expiry of your contractual term, you will be responsible for the Landlords reasonable and evidenced costs incurred in re-letting the property, together with any rent due under the Tenancy until a replacement Tenancy commences.  

Any costs charged will be limited to the Landlords reasonable re-letting expenses and will not exceed the rent.  

We aim to ensure this process is fair and transparant and all costs will be clearly explained to you in writing.

Where a Tenancy is entered into by a limited company or corporate entity (Company Let), the agreement does not constitute an Assured Shorthold Tenancy and therefore falls outside the scope of the Tenant Fees Act 2019.

Tenancy set up fee: £390 plus VAT (£468 including VAT) 

This fee includes the:

• Preparation and execution of the Tenancy Agreement (where provided by us)
• Collection and holding of the Security Deposit as Stakeholder
• Open Banking–based financial referencing of the proposed tenant
• Completion of initial Right to Rent checks

Any additional fees for a Company Let Agreement will be clearly agreed in writing prior to the commencement of the tenancy.