Once you have chosen a property, you are required to pay a holding deposit which secures the property, subject to referencing and contract.
|
Holding Deposit
(per tenancy) |
One week’s rent. This is to reserve a property. Please Note: This 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). |
|---|---|
|
Security Deposit
(per tenancy. Rent under £50,000 per year) |
Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy |
|
Security Deposit
(per tenancy. Rent of £50,000 or over per year) |
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the 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. |
| 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). 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. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). |
|
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. |
Below is the schedule of fees you can expect to pay as tenant, when you are either looking to rent or renting through YOUhome.
Referencing for one tenant (identity, immigration and visa confirmation, financial credit check, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.
Processing the application, associated paperwork and referencing.
Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s), and landlord as well as the provision of documentary guidance and assistance during the tenancy.
Covering credit referencing and a Deed of Guarantee as part of the Tenancy Agreement.
To cover the added risk of property damage. This will be protected with your security deposit in a Government authorised scheme and may be returned at the end of your tenancy. * subject to landlord approval.
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy.
Contract negotiations, amending and updating terms, and arranging further tenancy and agreement.
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Collating information and preparing a reference for a future landlord or letting agent.
Obtaining where necessary permissions, sourcing providers and travel costs.
Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate.
Interest at 3% above Bank of England Base Rate from date due, plus £30 (inc. VAT) late payment fee on each occasion.
Will be deducted from the Security Deposit. Only charged where professional cleaning is necessary to return the property to the same condition as the start of the tenancy.
YOUhome Property Experts is a member of ARLA Propertymark, and the Propertymark Client Money Protection (CMP) Scheme, you can find the Propertymark Conduct and Membership Rules here: https://www.propertymark.co.uk/working-in-the-industry/member-requirements/.
