Tenants fees/charges for tenancies exchanged after 1st June 2019 will be in line with tenant fee ban legislation and charges are as follows:
A holding deposit will requested which will be the equivalent of 1 weeks rent. This will reserve the property for you whilst credit checks are being carried out and once you are due to enter into a tenancy, this money will be offset again the first months rent due.
This holding deposit will be retained if the applicant provides misleading information, fails Right to Rent checks, withdraws from the property or fails to take reasonable steps to enter into a tenancy with the agreed timescale.
The Tenants Fees Act 2019 permits certain fees/charges to be made under the following circumstances:
- Default payment for late payment of rent – Chargeable from 14 days arrears at 3% above Bank of England base rate for each day that the payment is overdue
- Loss of key or security device – Landlord or Agent can charge a tenant a fee to cover the cost of replacing the lost key – Maximum fee £20.00
- Change of tenant during tenancy - £50 inc vat can be charged
- Termination of tenancy – Outstanding rent will be due to Landlord under the tenancy until new tenant found and £50 inc vat charge to carry out early termination.
- David Richings Estate Agents are members of The Property Ombudsman Scheme and Propertymark Client Money Protection Scheme (CMP)