Studio Apartment – Medium Let

Tenancy Info

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.