Tenant Info

Before You Move In Terminology

Holding Deposit

Before the holding deposit is paid, the Tenant must have completed an application form, provide proof of identity, proof of residency, immigration and visa confirmation, financial information, and details of their current Agent or Landlord, if applicable.

The holding deposit is equivalent of 1 week’s rent and is retained for 15 days from point of application.

Security Deposit (per tenancy. Rent under £50,000 pa.)

The security deposit is equivalent to 5 week’s rent and covers damages or defaults on behalf of the tenant during the tenancy.

Security Deposit (per tenancy. Rent under £60,000 pa.)

The security deposit is equivalent to 6 week’s rent and covers damages or defaults on behalf of the tenant during the tenancy.

During Your Tenancy Terminology

Unpaid Rent

Once the unpaid rent payments are more than 14 days in arrears, 3% interest above the Bank of England Base Rate from the Rent Due date will be applied until it is paid.

Lost Keys or Other Security Devices

Tenants are liable to cover the actual cost of replacing any lost keys or other security devices. If these losses result in locks needing to be changed, the actual costs of a locksmith, new locks and replacement keys for the Tenant, Landlord, and any other persons requiring keys will be charged to the Tenant. If extra costs are incurred, £15 per hour (Inc. VAT) will be charged for the time taken replacing lost key or other security device.

Variation of Contract (at the Tenant’s Request)

Each agreed variation will cost £50 (inc. VAT) in order to cover the costs associated with taking the Landlord’s instructions, as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request)

Each replacement Tenant will cost £50 (inc. VAT), or any reasonable costs incurred if higher, in order 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)

If the Tenant wishes to leave their contract earlier than agreed in the Tenancy Agreement, costs will be incurred. These costs will be no more than the maximum amount of rent outstanding on the tenancy which are in order to cover the Landlord’s costs in re-letting the property.