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Tenancy Application Fees
Important information for New Assured Shorehold Tenancies Signed on Or After 1 June 2019:
Rent Payments – The monthly amount of rent you will pay on a per calendar basis for the duration of the tenancy agreement and any further extensions or renewals.
Security Deposit – Five weeks rent where the annual rent is less than £50.000 or six weeks rent where the annual rent exceeds £50.000.
Unpaid Rent – Interest at 3% above the bank of England Base Rate from rent due date until paid. Please note: This will not be levied until the rent is more than 14 days in arrears.
Lost Keys and Fobs – 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 or 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 ( inc vat ) for the time taken replacing lost key(s),other security Device(s).
Variation of Contract – £50 ( inc vat ) per agreed variation. This includes replacement tenant and any reasonable costs incurred if higher.
Early Termination of Contract –
Should you wish to leave your contract early, you will be liable to the Landlords costs in reletting and granting the termination, 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.
Age – All applicants applying for rented accommodation must be over the age of 18. We cannot consider any applicants beneath this age. Any applicants under the age of 21 years will require a Guarantor, unless otherwise stated.
Holding Deposit and Security Deposit – The Holding deposit will be equivalent to one weeks rent. Once references have been taken and accepted you will be required to pay the security deposit. The holding deposit will form part of the required five weeks security deposit and will be protected under the housing act of 2004.
Refunds – We aim to always be fair with your application and understand that things do not always proceed as planned. Where your application does not proceed you can expect us to deal with refunds as follows:
If the tenant or guarantor withdraws from the application process the holding deposit will be withheld.
If the tenant fails the right to rent check the holding deposit will be withheld.
If the tenant provides materially false or misleading information the holding deposit will be withheld.
Failure to sign the tenancy agreement within 15 calendar days from security deposit being received will result in the proposed tenancy being cancelled and the holding deposit being withheld, any funds over and above this amount will be refunded.
Memberships
Ombudsman for residential letting agents , Membership number N00524
Client Money Protection Scheme ( CMP ) Membership Number is CMP001766
