Holding Deposit: One Weeks Rent.

This is used to reserve a property. With the tenant’s consent this will be put towards the first month’s rent or Tenancy Deposit. The holding deposit will forfeit if the tenant pulls out, fails a Right to Rent check, provides false or misleading information or drags their feet by the deadline for agreement.

Security Deposit: Five Weeks Rent

This is usually returned in full however deductions will be made for damages and or defaults on the part of the tenant during the tenancy.

Default Fees: 3% above Bank of England’s annual percentage rate

Charges will be applied once the rent is more than 14 days overdue for each day it is outstanding.

Replacing Lost Key/Security Device: Cost of Key/Security Device

If keys or security devises are lost the cost of replacement items will be passed onto the tenant this may include the cost of new lock and a locksmith.

Variation of Contract – £50 per agreed variation

This covers the costs associated with taking landlords instructions as well as the preparation and execution of the new legal documents.

Change of Sharer – £50 per replacement tenant

This covers the costs associated with taking landlords instructions as well as the preparation and execution of the new legal documents.

Early Termination – Capped at rent outstanding

If the tenant wishes to terminate their contact early, they will be liable for the landlord costs in re-letting the property as well as any rent due under the agreement until the start date of the replacement tenancy.