Permitted payments applicable to all tenancies are:
- Rent: Dependent on the rent level agreed for the tenancy and stipulated within the tenancy agreement and/or associated documents.
- Utilities, communication services, TV licence and council tax: The costs of these services and any costs incurred/associated with changing the suppliers with/without permission.
- Security deposits: For rents of under £50,000p.a. the deposit is equivalent to 5 weeks’ rent. This will be protected in a government-approved tenancy deposit scheme (DPS). For rents of £50,000p.a. or above, or where the rental is a company let the deposit is equivalent to 6 weeks’ rent.
- Holding deposits: One week. Non-refundable if any relevant person withdraws from the tenancy, fail a right-to-rent check, provide false or misleading information, or fail to sign the tenancy agreement within 15 calendar days (or any other deadline agreed in writing).
- Fees for a variation of contract incl changing a tenant: £120 (incl VAT) and any related reasonable costs.
- Fees for early termination: Landlord’s costs in re-letting as well as all rent due until the start date of the replacement tenancy, and reasonable associated agency costs.
- End of Tenancy Clean: Dependent on size of property and the condition of the property at the end of the tenancy. This will be organised either at the request of the Tenant or if deemed necessary by the independent inventory clerk in line with the Tenant’s obligations within the Tenancy Agreement and Inventory’s Check-In & Check-out.
- Default fees including but not limited to: Lost keys or other security devices; all associated costs to replace/change and supply adequate numbers to all persons necessary. Unpaid Rent/Returned Payment; interest at 4% above Bank of England base rate from due date.
The following Tenant Fees are only applicable to tenancies of £100,000 per annum and above, and company/corporate lets.
Fees payable by tenant (20% VAT included in all fees):
- Contribution toward the Administration Fee for the Tenancy Agreement: £240 per tenancy.
- Contribution toward the Renewal Administration Fee to update your Tenancy Agreement during your tenancy: £120 per tenancy.
- Referencing Fee for processing the application and referencing: £54 per reference.
- Inventory Check-Out Charge: Dependent on the content and size of the property.
- Stamp Duty Fee: Only applicable on tenancies of over £125,000.
– Nicolas Van Patrick are members of the Deposit Protection Scheme (DPS) –