Tenant Fees
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As well as paying the agreed rent for the property, you may also be required to make the following permitted payments. Before the tenancy starts Holding Deposit: One weeks' rent Once you have decided on a property, you will need to reserve it by paying a 'holding deposit', usually equivalent to one week's rent. This will be held by us for a period of 15 days unless we agree otherwise. At the end of the 15 day period (or such longer period as we may agree) the deposit will be refunded to you or be offset against your rent or tenancy deposit as agreed unless any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide significant false or misleading information, or fail to sign any required documentation (including the Tenancy Agreement and/or Deed of Guarantee) Tenancy Deposit: Five weeks' rent for rents of less than £50,000 per year, or six week's rent for rents of £50,000 or more per year A tenancy deposit will be held by an approved Tenancy Deposit Scheme (usually The Deposit Protection Service) throughout the tenancy term. This is held to cover damage, breakages, and any other liabilities under the terms of your tenancy agreement. Please note that under no circumstances can the deposit be used by the tenant to cover rent. Full details about the Deposit Protection Service can be found at www.depositprotection.com. During the tenancy Unpaid Rent: If rent is unpaid for more than 14 days, interest will be payable at 3% above the Bank of England base rate from the date the rent is due until the rent is paid. Tenancy variation: If you request a variation to the terms of the tenancy agreement (after it has been signed) we agree to, we are entitled to make a charge of £50.00 (inc. VAT) per agreed variation. Change of tenant (sharer): If you request leave to change the named tenants in your tenancy agreement then, if we agree to this, we shall be entitled to charge a fee of £50 (inc. VAT) or our reasonable expenses incurred in doing this if these are higher than £50. Reasonable expenses would include the cost of taking landlord's instructions, referencing the new tenant, carrying out Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents. Early Tenancy Termination (when requested by the Tenant): Should you wish to leave your tenancy before the end of the fixed term, then you will be liable for the landlord’s reasonable costs of re-letting the property as well as all rent due under the tenancy until the start of any new replacement tenancy. However, these costs and rent combined cannot be more than the total amount of remaining rent due under the tenancy. Lost keys or security devices: Tenants are liable for the actual cost of replacing any key(s) or other security device(s), or, if the locks need to be changed, for the actual costs of a locksmith together with the new lock and replacement keys for the tenant, landlord any other persons requiring keys. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). Tenant Protection SWR Lettings is a member of Client Money Protect, which is a client money protection scheme (membership number: CMP003677), and also a member of the Property Redress Scheme, which is a redress scheme (membership number: PRS000713). You can find out more details on the agent’s website or by contacting the agent directly. |