Land Estates Tenancy Fees & Tenant Information:
In addition to paying rent for the property, you may also be required to make the following permitted tenancy fees:
Holding deposit – A maximum of one week’s rent – This reserves the property whilst your application is being processed. Please Note: your holding deposit will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a 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 Agreement as mutually agreed in writing).
Advance Rent – Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first months’ rent prior to the commencement of your tenancy, although the amount payable may differ dependent on the terms of your tenancy.
Tenancy deposit – Five weeks’ rent, rising to six week’s rent when the annual rent is in excess of £50,000.
During the tenancy:
- Payments to other third parties – such as Council Tax, utilities or payments for communications services.
- Amendments to the TA – If a tenant requests a change in tenancy after initial agreement and subject to landlord agreeing. To cover the cost of the preparation and execution of new documentation being issued the fee is £50.00 (Inc. VAT).
- Change of Sharer – If a tenant request change of tenant, the fee is £50 (Inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the cost of the preparation and execution of new documentation being issued.
- Unpaid rent – To pay interest at the Bank of England’s base rate +3% per day on any amount of rent that is more than 14 (fourteen) days late (if the bank’s interest rate is 3%, the landlord or agent (but not both) would be entitled to charge the tenant interest at no more than 6% on the overdue amount for the number of days that the payment has been outstanding). You must pay interest on the full amount that you owe, from the date you should have paid the rent until the date you actually pay.
- Locks and security – If, during your tenancy, you ask your landlord or us, as your agent to attend due to you having lost your keys or due to you being unable to access the property because you have damaged the key or the lock, you are liable for the replacement of any lost key(s) or other security device(s). If the locks need to be changed, then you are liable to pay the full costs of a locksmith. New lock and replacement keys for the tenant, landlord, managing agent any other persons requiring keys will be charged to the tenant.
- Surrender of tenancy – Should a tenant need to surrender the tenancy early and the landlord agrees to re-let the property, the tenant be required to pay the landlord’s costs in re-letting the property as well as all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.
Non AST's signed on or after 1st June 2019
For any company let or for any individual tenant not renting a property under an Assured Shorthold Tenancy the following charges are also payable:
- Holding deposit – A minimum of £500.00- This reserves the property whilst your application is being processed. Please Note: your holding deposit will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a 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 Agreement as mutually agreed in writing).
Prior to your Tenancy
- Tenancy documentation charge of : £200 (inc. VAT) per tenancy.
- Reference fee for each Tenant or guarantor: £120 (inc. VAT).
- Reference fee for a company check: £200 (inc. VAT)
- Inventory charges: In most lets, the tenant will be responsible for paying the inventory check in costs prior to the commencement of a tenancy. Please see cost below:
- 1 bed – £120.00 (Inc. VAT)
- 2 bed – £150.00 (Inc. VAT)
- 3 bed – £180.00 (Inc. VAT)
- 4 bed – £200.00 (Inc. VAT)