From the 1st June 2019, the Tenant Fees Act prohibits Landlords and Letting Agents from charging Tenants anything other The following is what you can expect to be asked to pay before, during and at the end of a tenancy: permitted costs for renting a property.
Before you move in:
Holding Deposit: Equivalent to one week’s rent:
Monthly rent x 12 / 52
- Once your application is accepted in principle, we will request a holding deposit to allow us to begin referencing. This will be the equivalent of one week’s rent and will be held in our designated Client’s account until the tenancy agreement is signed.
- Once the Tenancy agreement is signed the holding deposit will be used towards the payment of the first month’s rent.
- Should you provide incorrect or misleading information within your application form, you risk forfeiting your holding deposit so please ensure your application is accurate and you fully intend to move into the property.
Tenancy Deposit: Equivalent to five week’s rent:
Monthly rent x 12 / 52 x 5
- Your deposit will be registered with a government accredited tenancy deposit scheme – where the funds will be held until the end of your tenancy. If David James are managing the property you move into, your deposit will be held with TDS Custodial. If your Landlord is managing the property themselves, we will inform you at the point of move-in which tenancy deposit scheme they have opted to use.
During a tenancy:
Variation, assignment or novation of a Tenancy:
£50 including VAT (£41.67 plus VAT)
- Changes to Tenants named on the Tenancy Agreement
- Name changes / detail changes for existing Tenants
- Addition of a pet (subject to express agreement from the Landlord).
- Express permission to run a business from the tenanted address.
Cost to replace a lost key or other security device
- Actual costs incurred, including cost of a locksmith or relevant contractor if required
Charges for early surrender of a tenancy:
Arrangement fee of £360.00 including VAT (£300 plus VAT)
Rent until the start of a subsequent tenancy
- Any request for early surrender of the tenancy MUST be agreed by the Landlord. If the Landlord is in agreement, the Tenants will be expected to cover the Landlords costs for reletting the property.
- Rent is payable up to the point a new tenancy commences – capped at the total amount due up to the end of the contract.