TENANT FEES – Professional Applications
(New Assured Shorthold Tenancies (ASTs) Signed on or after 1st June 2019)
General terms and conditions apply in the application of any person wishing to take a tenancy. These are:
- HOLDING DEPOSIT: – ONE WEEKS RENT. This is to reserve a property. Please note: This will be withheld if any relevant person (including Guarantor(s)) withdraw from the tenancy, fail the 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 the Agreement as mutually agreed in writing).
- SECURITY DEPOSIT BOND: – FIVE WEEKS RENT. This covers damages or defaults on the part of the tenant during the tenancy. (this covers all rents under to £50,000 per annum).
- SECURITY DEPOSIT BOND: – SIX WEEKS RENT. This covers damages or defaults on the part of the tenant during the tenancy. (this covers all rents OVER to £50,000 per annum).
- ONE MONTHS RENT IN ADVANCE: -This must be cleared funds along with the damage deposit, and thereafter all rent is to be paid by standing order. No Tenancies will be started until all documents are signed and funds are received in full and have cleared our bank.
- REFERENCES: – We require full credit checks to be carried out on all tenants applying for a property (and guarantor references in some cases). This will show on your credit file as “HOME ASSIST”. You must provide us with a copy of photographic ID i.e.: driving licence/passport along with a current utility bill and bank statement when filling out an application form. International tenants will need to contact the office for information on referencing requirements.
- UNPAID RENT: Interest at 3% above the Bank of England Base Rate from the 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 KEYS: 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 cost of a locksmith, new lock and replacement keys for all tenants, landlord and 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 (incl. VAT) for the time taken replacing lost key(s) or other security device(s).
- VARIATION OF CONTRACT (Tenants Request): £50 (incl. VAT) To cover the costs associated with taking landlords instructions as well as the preparation and execution of new legal documents.
- CHANGE OF SHARER (Tenants Request): £50 (incl. VAT) To cover the costs associated with taking landlords instructions, new tenants referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
- EARLY TERMINATION (Tenants 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.
The minimum tenancy period is SIX MONTHS as per the 1988 Government housing act. Always check availability on (0191) 281 6200 as the list is updated frequently. For further information please contact us.