Tenant charges applicable to residential tenancies
Holding deposit
- One weeks rent.
- Paid to stop marketing the property whilst references are obtained.
- Will be deducted from the total damage deposit due before the let starts.
- Not refundable if a tenant withdraws from the tenancy, does not qualify or provides false information
Damage deposit
- Five weeks rent if the annual rent is less than £50 000.
- Six weeks rent if the annual rent is great than £50 000.
Late payment of rent
- 3% above the Bank of England’s base rate.
- Charged daily when the rent is outstanding for 14 days or more.
Replacement keys & security devices
- Replacement costs.
Changes to a tenancy
- £50 incl VAT.
- Costs incurred eg. solicitors fee.
Early termination
- Cost’s incurred by the owner by agreeing to early termination.
- Examples are reference costs and re-marketing costs.
Damage and cleaning
- Tenants are expected to return the home in the same condition as when the let began.
- Fair wear and tear is accepted but not damage.
- Charges can be made to return the home to the same condition as at check-in, which may include professional cleaning.
Please see our Tenant FAQ page for basic letting info
