Tenancy Info

Holding Deposit

One weeks rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Paying the holding deposit demonstrates both your commitment and the landlord’s intention to proceed while the property is removed from the market.

The holding deposit will usually be refunded or deducted from your first rent payment or tenancy deposit unless:

• you withdraw your application;
• you provide false or misleading information;
• you fail the Right to Rent check;
• you fail to take reasonable steps to progress your application within the agreed timescale.

Where a holding deposit is retained, we will explain the reasons in writing.

Security Deposit

Five weeks rent, this covers damaged or defaults of the tenancy agreement. This will be due before your tenancy starts. The deposit will not exceed:

• Five weeks’ rent where the annual rent is £100,000 or less.
• Six weeks’ rent where the annual rent exceeds £100,000.

Your deposit will be protected in an approved Government tenancy deposit protection scheme where required by law.

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 device(s). 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.

Variation of Contract (Tenant’s Request)

£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlords 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 landlords instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.