Registering your interest
Once you have decided on a property and we have discussed this with the landlord, you will need to commence your application by placing a reservation fee of one weeks rent. Assuming that the tenancy goes ahead, this will be deducted from the first month’s rent upon move in.
If the landlord or Number 1 letting declines to grant the tenancy, it will be refunded. However, the reservation fee will be forfeited if you decide not to proceed for any reason, or if you fail to provide complete and accurate information in your application that ultimately is the cause for rejection, for example an applicant fails to disclose bad credit on application. (For further clarity and details please see Tenant Fee Structure below).
Rents and other financial commitments
Rents are normally quoted per calendar month and payable monthly in advance. We will require your tenancy deposit and first month’s rent with cleared funds on move in day minus your registration fee of one weeks rent which was paid initially. Additionally, if your chosen property accepts pets it will state the rent on the advertisement. (For further clarity and details please see Tenant Fee Structure below).
Fee structure at a glance
New assured shorthold tenancies (ASTS) signed on or after 1st June 2019.
- Holding deposit (Per tenancy)
One week’s rent. This is to reserve a 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 (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing). - Tenancy Deposit (Per tenancy. Rent under £50,000 per year)
Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. - Tenancy Deposit (Per tenancy. Rent of £50,000 or over per year)
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. - 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. Please Note: This will not be levied until the rent is more than 14 days in arrears. - Lost Key(s) or other Security Device(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 any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). - Variation of Contract (Tenant’s request)
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. - Change of Sharer (Tenant’s request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs 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. - 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.
