Permitted payments when renting, so no more costly fees

Helping both landlords and tenants save money as costs continue to rise…………..

Likewise using a letting agent doesn’t need to be costly. We offer a No Fee service therefore both landlords and tenants renting costs are affordable.

No Tenant Fees, so no expensive upfront costs

Permitted payments for new Assured Shorthold Tenancies (ASTs) signed on or after 22nd May 2019.

Below is a list of permitted payments which are due before you sign your tenancy agreement and may become payable during and after the tenancy.

Permitted Payments	Payment
Holding Deposit (per tenancy) This is to reserve the property. Please note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a right to rent check, provide materially significant false or misleading information or fail to sign their tenancy agreement.	One weeks rent
Security Deposit (per tenancy) Per tenancy, rent under £50,000 per year. This covers damages or defaults on the part of the tenant during the tenancy.	Five weeks’ rent
Security Deposit (per tenancy) Per tenancy, rent over £50,000 per year. This covers damages or defaults on the part of the tenant during the tenancy.	Six weeks’ rent
Unpaid Rent Interest at 3% above the Bank of England Base Rate from rent due date until paid in order to pursue non-payment of rent. Note: This will not be levied until the rent is more than 14 days in arrears.	3% above Bank Of England Base Rate
Lost Key(s) or other security deice(s) Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s) If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge for the time taken replacing lost key(s) or other security device(s)	£15 per hour
Variation of contract (tenant’s request) To cover the cost associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.	£50 per agreed variation
Change of sharer (tenant’s request) To cover the cost associated with taking landlord’s instructions, new tenant referencing and right to rent checks, deposit registration as well as the preparation and execution of new legal documents.	£50 per replacement tenant
Early termination (tenant’s request.) Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Letting agents that understand your local rental market…………..

In addition as letting agents we understand the costs associated with renting. Therefore our No Fee approach helps keep upfront costs to a minimum.