For a breakdown of fees for new assured shorthold tenancies (AST's) signed on or after 1st June 2019, please click here
A tenant’s regular payment to a landlord for the use of the property under a tenancy.
A Tenancy Deposit is money held by an agent acting on the landlord’s behalf, as security during the period of the tenancy and reserved for any damages or defaults by the tenant. Security Deposits are capped at five weeks’ rent where the annual rent in respect of the tenancy immediately after its grant, renewal or continuance is less than £50,000 a year and six-weeks’ rent where the annual rent in respect of the tenancy immediately after its grant, renewal or continuance is £50,000 or more a year.
A Holding Deposit (one weeks rent) is a payment made by a tenant to an agent acting on the landlord’s behalf to reserve that property.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).
Payments in the event of a default
Letting agents may require a tenant to make a payment in the event of a relevant default such as unpaid rent or loss of keys. 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).
Payment on termination of a tenancy
Letting agents can require a tenant to make a payment for an early termination (surrender) of the tenancy agreement at the tenant’s request.
Payment on variation, assignment or novation of a tenancy
When a tenant has requested it, landlords and letting agents can charge to vary, assign or replace a tenancy.
Payments in respect of Council Tax
A payment to a billing authority in respect of Council Tax and letting agents may require tenants to pay the Council Tax on the property they rent.
Payments for utilities (Utility means electricity, gas or other fuel, water or sewage).
A payment for or in connection with the provision of a utility if the tenancy agreement requires the payment to be made.
Payments for a television licence
A payment to the British Broadcasting Corporation (BBC) in respect of a television licence is a Permitted Payment if the tenancy agreement requires the payment to be made.
Communication services (communication service, means a telephone other than a mobile telephone; the internet; cable television, satellite television
Letting agents are permitted to charge a payment for or in connection with providing a communication service is the tenancy agreement requires the payment to be made.
For Tenant fees schedule for existing assured shorthold tenancies (AST's) and all assured tenancies signed prior to 1st June 2019, please click here