Scale of Charges for Tenants
Tenant Fees Act 2019 permits certain fees / charges to be made under the following circumstances:
First Months Rent
Rents are as quoted in our particulars and will generally be payable calendar monthly in advance, due in advance on the fith day of each month. If you take over part way through a month, an apportioned amount will be calculated as the rent due from the start date to the end of that calendar month although you will need to pay at least one full month of rent at commencement.
From 1 June 2019 landlords in England are limited to the equivalent of 5 weeks rent for new and renewed tenancies (or 6 weeks if the annual rent is £50,000 or more). This is calculated by dividing the annual rent by 52 and multiplying by 5 (or 6 if rent is £50,000 or more) and will be required to be paid at the start of the tenancy.
We normally hold this in the capacity of Stakeholder for the duration of the tenancy in our Client's Account in accordance with the UKALA Regulations and it is covered by our membership of the UKALA Client Money Protection scheme. The deposit will also be protected and handled in accordance with the rules of The Dispute Service Limited (TDS,) a government approved body under the Housing Act 2006, of which we are members. Neither party to the tenancy will be entitled to any interest on the deposit and any interest accruing will belong to the stakeholder. In some cases, the deposit will be held and protected by the landlord, in which case you will be notified.
Late Payment Charges
Interest at the rate of 3% above the Bank of England's base rare for each day on any rent lawfully due that is paid more than 14 days after the date on which it becomes due. The interest will be payable from the date the rent should been paid until he rent is actually paid.
Loss of Key or Other Security Devices
Reasonable costs for any lost key(s) or security device giving access to the property or the properties outbuildings (e.g. fob, electronic device for garage doors / security gates).
Payment on variation, assignment or novation of tenancy - £50.00
When a tenant has requested it, a charge vary, assign or replace a tenancy. Fee charge £50 (including VAT).
Termination (surrender) of a Fixed term tenancy agreement - capped at the landlord's loss or the agent's reasonably incurred costs
(Subject to Landlord(s) consent)
Please note: You are legally required to pay the rent up until either a suitable tenant replacement is found or your fixed term agreement has ended.
Utilities, communication services (eg. telephone, broadband), TV licence and council tax
(if not included within rental)
Contractual damages in the event of the tenant's default of a tenancy agreement
Any other permitted payments under the Tenant Fees Act 2019