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Tenant Payments

What will it cost me?

From the 1st June 2019, the Tenant Fees Act prohibits Landlords and Letting Agents from charging Tenants anything other than permitted costs for renting a property. The following payments are permitted under the Tenant Fees Act:

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 take a holding deposit to proceed to referencing. This will be capped at 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 can be used towards the payment of first month’s rent.
Tenancy Deposit: Equivalent to five week's rent:
Monthly rent x 12 / 52 x 5

  • Your deposit will be registered with TDS Custodial – a government accredited scheme – where the funds will be held until the end of your tenancy. 
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.
Default Fees:
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.
Please note we subscribe to Client Money Protection via Propertymark and we are part of The Property Ombudsman (TPO) Redress Scheme and subscribe to their Code of Practice. 
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    David James are members of NAEA and ARLA Propertymark which means we meet higher industry standards than the law demands.

    Our experts undertake regular training to ensure they are up to date with best practice and complex legislative changes so that they can offer you the best advice. We are also backed by a Client Money Protection scheme, which guarantees that your money is protected. We are also voluntary members of both SafeAgent and the Property Ombudsman ensuring we offer our clients full protection and redress in every aspect of what we do.

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