Tenants’ Terms and Conditions – ASSURED SHORTHOLD TENANCY (AST)
Holding deposit
Once your offer has been accepted by a Landlord, we will start preparing the Tenancy Agreement and organising all of the other aspects of a successful move.
We require 1 weeks rent to commence Tenancy progression. Please note that this amount will be non-refundable should you withdraw your offer once it has been accepted by the Landlord or if you provide false or misleading statements.
If the Landlord withdraws from completing the Tenancy agreement, then this fee shall be fully refunded.
We have 15 calendar days from receipt of the Holding Deposit to progress your Tenancy. If you have not taken adequate steps to provide the required documents and information to complete your Tenancy Agreement during the 15-calendar day period the Landlord reserves the right to enforce the forfeiture of your Holding Deposit.
Security deposit
The security deposit is a minimum of 5 weeks rent for standard AST. This will be registered and transferred to The Dispute Service Limited (TDS), or transferred onto the Landlord who will in turn be required to register the deposit with one of the approved Government Schemes.
Change of occupier fee
A fee of £50 including VAT will apply if there is a change of Tenant during the Tenancy term i.e. where one Tenant in a shared property is replaced by another Tenant (with the consent of the Landlord).
Early termination of contract at the tenant’s request
In the event that you wish to leave your contract early, you will be required to pay the landlord’s cost in re-letting the property as well as the rent, council tax and utilities due under the tenancy agreement until the start date of the replacement tenancy. The cost will be no more than the maximum amount of rent outstanding for the remainder of your tenancy.
Tenants’ Terms and Conditions – NON-AST TENANCY (Company Let, Common Law)
Holding deposit
Once your offer has been accepted by a Landlord, we will start preparing the Tenancy Agreement and organising all of the other aspects of a successful move.
We require 1 weeks rent to commence Tenancy progression. Please note that this amount will be non-refundable should you withdraw your offer once it has been accepted by the Landlord.
If the Landlord withdraws from completing the Tenancy agreement, then this fee shall be fully refunded.
Admin fee for NON-AST
The Tenant will be charged a non-refundable £350 including VAT for referencing and contract fees.
We prepare an inventory and schedule of condition of the Property and the contents evaluating the state of the Property at the beginning of the Tenancy which will be used to check the Tenant into the Property at the start of the Tenancy and to ascertain damage at the end of the Tenancy when the Tenant is checked out. The inventory and check-in cost will be the Landlord’s responsibility and the check-out inventory will be the Tenants responsibility.
The average check-out cost is set out below:
Studio / 1 bedroom £144 including VAT
2 bedrooms £168 including VAT
3 bedrooms £192 including VAT
Change of occupier fee
A fee of £50 including VAT will apply if there is a change of Tenant during the Tenancy term i.e. where one Tenant in a shared property is replaced by another Tenant (with the consent of the Landlord).
Landlord fees
Let Only Fee 9.6% including VAT
Letting & Management Fee 14.4% including VAT
Tenancy administration fee £240 Including VAT
Non-Resident Landlord (NRL) Quarterly Reports £60 including VAT
Renewal paperwork fee £180 Including VAT
Annual income / expenditure report £60 Including VAT
Arrangement cost for EICR or PAT testing £60 Including VAT
Property Ombudsman
We are a member of The Property Ombudsman and follow their guidelines and policies. For more information about them, you can visit their website: http://www.tpos.co.uk . We also a member of their Redress Scheme.
