You should allow for the following payments when making an offer to rent a property:
For Assured Shorthold Tenancies (ASTs)
Holding deposit
Equal to one week’s rent*
An AST tenancy is where:
The tenant is an individual(s)
The rent is less than £100,000 per annum
The property is the tenant’s principle home
The landlord is not a resident landlord
All offers are subject to contract.
*If your offer is accepted then this amount will be offset against the initial rental payment, so you are not making this payment twice. Please be aware that if you make an offer which you later withdraw or if the tenancy application cannot proceed because you have given misleading or incorrect information, then you may lose all or some of the above.
References and Right to Rent
All applicant references (where applicable) are undertaken by an independent specialist referencing company. You will be asked to complete their online application form.
You will need to provide us with proof of your right to rent a property in England, in line with the Immigration Acts 2014 and 2016 and to prove your current address (such as an original bank statement, credit card, utility bill, council tax demand, etc. dated within the last three months).
Offer accepted stage
If your offer is accepted (subject to contract) then before the tenancy starts you will need to make the following payments to us by cleared funds, which are usually:
Advance rent (less the holding deposit already taken as above)
1 x month’s rent
Security deposit for ASTs where annual rent is under £50,000
Equivalent of 5 x weeks’ rent
Security deposit for ASTs where annual rent is above £50,000
Equivalent of 6 weeks’ rent
All other tenancies, as agreed between parties
Variable
Further rents will be taken by direct debit from one nominated UK bank account.
All deposits held by us for Assured Shorthold Tenancies will be protected by the MyDeposits (MyDeposits).
Renewal charge
Preparation of renewal tenancy agreement for non ASTs
£150 per tenancy
Further Right to Rent ID verification (if necessary) for non ASTs
£6 per adult occupant
Additional charges
Reference
If you require a reference for a tenancy or mortgage etc., for non ASTs
£30 per reference
Amendments or changes to the tenancy terms
Change or amendment to terms during tenancy, requested by tenant (ASTs)
£50 or reasonable costs
Change or amendment to terms during tenancy, requested by tenant (all other tenancies)
£100
Early release
If, for any reason, you request your landlord to agree to ending the tenancy earlier than the end date set out in the tenancy agreement (or in line with any break clause included in the tenancy agreement) then he/she does not have to agree to this. However should your landlord agree, then he/she can ask you to reimburse him/her for any financial loss he/she might suffer as a result. This may include:
The equivalent of the letting fee already paid by your landlord to us from the date you wish to end the tenancy until the date you could contractually end the tenancy (calculated as a daily rate)
Variable
The landlord’s cost of the preparation of a new agreement
£200
The cost of an inventory check-out
£150
Change of sharer
Your landlord does not have to agree to you changing any of the named tenants during the tenancy term. However he/she may agree to do so subject to you reimbursing him/her for any financial loss he/she might suffer as a result of ending one tenancy early and creating a new tenancy. This may include:
For ASTs
The cost of the preparation of a new agreement
£50 or reasonable costs
For all other tenancies
The cost of the preparation of a new agreement
£200
The cost of an inventory check-out
£150
Referencing proposed new tenant(s)/guarantor(s)
£30 per person
Re-referencing current tenant(s)/guarantor(s) (at landlord’s request)
£60 per person
Further Right to Rent ID verification (if necessary)
£6 per adult occupant
Tenancy deposit protection administration charge
£30
Late rent payments
Payable once rent is 14 days or more overdue and levied from the first day of rent arrears period
3% above Bank of England Base Rate
Lost keys or security devices
The cost of replacing lost keys or security devices
Actual cost of replacement (lost keys or lock changes may incur a £15 per hour administration charge, depending on the circumstances)
