Allowable Charges

Updated June 2019
Permitted payments in EnglandWhat permitted payments can I expect to pay if I rent a property?
From 1st June 2019 – For Assured Shorthold Tenancies Agreements (ASTs)
 Below is the list of our current permitted payments for any contracts signed after 1st June 2019 on all Assured Shorthold Tenancies (AST’s)
Holding retainer of one week’s rent per tenancy.
This amount is to reserve the property. You will be required to make this payment in full if you would like to secure a tenancy. Until we hold the payment we cannot remove the property from our property listings. This payment is held for 15 days from the date the initial holding contract has been signed.
Please note: This payment will be withheld if any relevant person(s) in relation to the tenancy including guarantor(s) withdraw from the tenancy, provide false or misleading information, fail Right-to-Rent checks, or fail to sign their tenancy agreement within 15 days of the initial payment.
Security deposits
For any tenancies with rent annually under £50,000, you will be required to pay five week’s rent. This payment covers damages, defaults and any defaults in line with the signed AST.
For any tenancies with rent annually over £50,000, you will be required to pay six week’s rent. This payment covers damages, defaults and any defaults in line with the signed AST.
Lost keys and lock outs
If the tenants misplace any keys, the tenant will be liable for the cost of any replacement locks that require changing, the full cost of the locksmith/contractor charge, new locks and replacement keys for the tenants, landlord, agent and any other party that requires and holds a key. If extra costs are incurred in relation to the above, there will be a charge of £15.00 per house (inc. VAT) for the time taken replacing any lost key(s) or any other security devices (s).
Unpaid rent:
Interest at 3% above the Bank of England Base Rate from the rent due date until paid in full to pursue non payment of rent. This charge is not applicable until the rent is more than 14 days in arrears.
Early termination (tenant’s request)
If the tenant wishes to terminate their contract before their tenancy end date (as stated on the signed AST) and if the landlord allows, they are liable for the landlord’s re letting costs as well as all the rent due until a new tenancy start date is entered into and a new tenant has taken occupancy.
 
Changes of shared tenancies (Where there are more than one tenant and at the tenant’s request)
If there is a change of tenant during the AST, the tenants will be liable for a £50.00 (inc VAT) or any reasonable costs incurred if they exceed this amount. The cost will cover new tenant referencing, Right-to-Rent checks, deposit registrations and for preparing and execution of new legal documents such as AST’s and guarantor agreements.
 
If you have any questions regarding permitted fees, please ask a member of the team at Tenant Link.