Deposits, fees and charges

Before moving in



Holding Deposit


One week’s rent is held to reserve a property. If you later proceed to start renting the property, then this holding deposit is used as part of your first month's rent. Once received, we will start the referencing process which is carried out by an independent referencing company.


During referencing you will be asked to provide ID documentation and will need to show that the property is affordable; you'll also be asked to show the necessary paperwork that proves you are permitted to be let the property (Right-to-Rent).


Please Note: The Holding Deposit will be withheld if any relevant person (including any guarantor(s)) withdraws 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).


If we choose not to proceed with your application then the Holding Deposit will be returned to you.


Security Deposit


Security Deposit varies between properties and rooms. Houses are one month's rent or five weeks’ rent if a pet is at the property. HMO rooms are normally £350 but maybe lower. This will need to be paid before you move in. This covers damages or defaults on the part of the tenant during the tenancy. 


"Zero Deposit" schemes may be accommodated on an individual basis at our discretion.


Balance of the first month's rent


If you paid a holding deposit, this contributes towards the first month's rent payment. 


Example:

Note that the total paid before moving in equals the Security Deposit plus the first month's rent.

During your tenancy


Unpaid Rent


Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.


It is your responsibility to ensure rent is paid on time, as agreed. We always prosecute for unpaid rent and damages.


Lost Key(s) or other Security Device(s)


Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). This depends on the property but for security reasons, HMO keys can only be acquired via us. Costs also include transport of keys, which could include TAXI depending on the day/time. 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 any other persons requiring keys will be charged to the tenant.


Variation of Contract (Tenant’s Request)


£50 inc. VAT per agreed variation. 

To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.


Change of Sharer  (Tenant’s Request)


£50 inc. VAT per replacement tenant or any reasonable costs incurred if higher.

To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.


Early Termination  (Tenant’s Request)


Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property 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.


Visits and contractor fees


Should you report a maintenance issue with the property and a contractor is called out and their investigations find that the fault has been caused by the tenant/s or an associate of the tenant/s, or that no fault exists, or that it relates to something where the tenant has responsibility for maintenance, then any cost for this call out will be the responsibility of the tenant/s. 


Damage


Damage caused by tenants, where the damage causes a safety issue or interferes with the services of the house or is otherwise deemed necessary by the landlord, will be carried out and billed to the relevant tenant(s). This damage may be malicious or accidental, caused by a tenant or their guests.


Communal areas of HMOs and all landlord items must be kept in the same condition at all times, taking into account fair wear and tear.


Please note that smoking is not permitted at any of our properties; beyond being a fire risk, smoking causes substantial damage to the paintwork and furniture in rooms. Tenants who do not follow this rule but smoke in the property should be aware that the costs to repaint and replace furniture damaged through not following this rule can be upwards of £1000. We will always pursue costs for this through guarantors and court as needed.


If you are aware of any damages or are responsible for any damages (personally, or as a result of your guests) please let us know as soon as possible so we can arrange for cost-effective repairs and keep any costs to a minimum.   


Legal fees


As directed by the courts, legal fees may be due. You will be notified by the courts on these and when they are due. 

Ending your tenancy


During the fixed term agreement of your tenancy 


You are responsible for ensuring rent is paid on time until the fixed term ends. A fixed term agreement can only be ended early with our agreement. Should we choose to agree that the fixed term can be ended early, this will be on the condition that you are responsible for our costs to remarket and re-let the property (usually c. £150, to be agreed on an individual basis). The terms of your tenancy agreement remain unchanged.


Please note that you remain responsible for paying the rent until a new tenant moves in (or until the end of your fixed term agreement or notice period, as applicable).


At the end of the fixed term agreement


You must give notice as detailed in your tenancy agreement - please see your tenancy agreement for details on how to end your tenancy, and get in touch should you have any questions.

After your tenancy


Unpaid Rent


Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.


It is your responsibility to ensure rent is paid on time, as agreed. We always prosecute for unpaid rent and damages.


Lost Key(s) or other Security Device(s)


Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). This depends on the property, but for security reasons HMO keys can only be acquired via us. Costs also include transport of the key, which could include TAXI depending on the day/time. If the loss results in locks needing to be changed, the actual costs of a locksmith and new lock and replacement keys for the tenant/landlord/any other persons requiring keys will be charged to the tenant.


Damage


Houses and rooms must be returned in the same condition as they were handed across, taking account of fair wear and tear. All damage repair costs will be billed to the tenant.


If you are aware of any damages or are responsible for any damages (personally, or as a result of your guests) please let us know as soon as possible so we can arrange for cost-effective repairs and keep any costs to a minimum.   


Legal fees


As directed by the courts, legal fees may be due. You will be notified by the courts on these and when they are due. 

We will deduct any unpaid monies (rent, damages etc.) from the deposit at the end of the tenancy. Where the deposit does not cover the full amount outstanding and the tenant will not cover the costs, we will instruct the courts and take legal action.


The above list is illustrative and not exclusive. Please refer to your tenancy agreement and any other documentation sent to you.