💰 Holding Deposit (per tenancy)
The holding deposit is equivalent to one week's rent and is used to reserve a property prior to the start of the tenancy. This deposit will be withheld if any relevant person, including guarantors, withdraws from the tenancy, if the tenant fails a Right-to-Rent check, if materially significant false or misleading information is provided, or if the tenancy agreement and/or Deed of Guarantee is not signed within fifteen calendar days or any other agreed deadline.
🔒 Security Deposit (per tenancy, rent under £50,000 per year)
The security deposit is equal to five weeks' rent and covers any damages or defaults by the tenant during the tenancy. The deposit is refundable at the end of the tenancy provided the property is returned in satisfactory condition.
💵 Rent
Rent is agreed in advance of the tenancy and is payable according to the tenancy agreement. Rent will be reviewed annually at the conclusion of each fixed term, in accordance with the relevant clauses specified in the tenancy agreement.
⚠️ Unpaid Rent
Interest at three percent above the Bank of England Base Rate will be applied from the Rent Due Date until payment is made. This measure is applied to recover unpaid rent and any associated administrative costs.
🧾 Utilities, Council Tax, Communication Services, and TV Licence
Tenants are responsible for paying all council tax, utilities including gas, electricity, and water, as well as communication services such as broadband and television, and the TV licence. All billing responsibilities are defined within the tenancy agreement.
🔑 Lost Key(s) or Other Security Device(s)
Tenants are liable for the actual cost of replacing any lost keys or other security devices. If locks require replacement due to lost keys, the tenant will be responsible for the cost of locksmith services, replacement locks, and keys for all relevant parties. Any additional time incurred for replacing lost keys or devices will be charged at £15 per hour.
✍️ Variation of Contract (Tenant's Request)
Where a tenant requests a variation to the tenancy agreement, a fee of £50 inclusive of VAT will be applied. This covers the administrative costs associated with taking the landlord’s instructions, preparing, and executing new legal documents or addendums.
⏳ Early Termination (Tenant's Request)
Tenants wishing to terminate their tenancy early must provide the landlord with at least two months' written notice. Tenants will be liable for the landlord’s reasonable costs in re-letting the property and for rent payable until the commencement of a replacement tenancy. The total liability will not exceed the maximum rent outstanding under the tenancy.