Tenants – fees and charges
Rent
Refundable Tenancy Deposit (capped at 5 weeks rent). Please note security deposit (per tenancy. Rent under £50,000 per year) capped at five weeks rent
Security deposit (per tenancy. Rent of £50,00 or over per year) : Up to six weeks rent.
A Refundable Holding Deposit (to reserve the property, capped at one week’s rent). If your application is successful your holding deposit will be put towards your tenancy deposit.
So for example if the rent was £1,000pcm:
£1,000 multiply by 12 = £12,000
£12,000 divided by 52 = £230.77
£230.77 multiplied by 5 = £1,153.85
So the deposit will be £1,153.85
And your holding Deposit will be £230.77
Change of Tenancy Charge – if this is requested by the tenant a charge of £50 + VAT is applicable or reasonable cost incurred if higher.
Early Termination Fee – Ending a tenancy early can only occur if both landlord(s) and tenant(s) all agree in writing and the pursuant will be subject to an administration charge of £500 + VAT (this is our Let Only Fee charged to landlords to market and find suitable tenants for their property). You will still be liable to pay the rent up until suitable tenants are found to take over the tenancy.
Payment in respect of Utilities, Communication Services, TV License and Council Tax (where applicable).
A default fee for late payment of rent charged at 3% above the bank of England base rate.
A default fee for a replacement of a lost key or security fob charged at the cost of the key plus our time to have the key cut and get this to you (charged at £15 + VAT per hour). You have the right to deal with this yourself and pay the incurred charges.
Student Tenancy Application
Once you have had an offer accepted in writing and paid the holding fee to secure the property you will need to complete our online student application form. Please complete within 48 hours of paying the holding fee. All prospective tenants will need to fill this out. We also require several supporting documents from each tenant, this is all detailed on the online form and can be emailed to us at longlets@hopewell.co.uk.
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Tenant FAQs
How do I make an offer on a property?
If you have viewed a property either online, or in person and would like to make an offer, you can do so by clicking on the 'Make an offer' tab. You can access this tab by clicking on the relevant property on our website and you will find it above the property features section. The property will not be secured until the offer has been accepted by the landlord and you have paid the holding fee.
How much is my holding fee and deposit?
Your holding fee is 1 weeks rent and your deposit is 5 weeks rent. Your holding fee contributes towards your deposit.
Do I need a guarantor?
You will need a UK based guarantor if you are a student or you are not in full time employment.
I've paid a holding fee to secure a student property. What's next?
Once you have had an offer accepted in writing and paid the holding fee to secure the property you will need to complete our online student application form. You can access this by clicking here. Please complete within 48 hours of paying the holding fee. All prospective tenants will need to fill this out. We also require several supporting documents from each tenant, this is all detailed on the online form and can be emailed to us at longlets@hopewell.co.uk.
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