There are no upfront tenancy charges however we may, subject to demand take a holding deposit which is the equivalent of one weeks rent.
What is a holding deposit?
A holding deposit is a small deposit which is paid by a tenant to secure a property. It allows the landlord or agent to check the suitability of a tenant. It serves as a guarantee to the landlord that the tenant is committed to taking on the property and a guarantee to the tenant that the landlord will hold the property for them, pending successful completion of their suitability tests.
How much is a week’s rent?
A simple calculation is to divide the monthly rental amount by 4.35. So, for example, an offered monthly rent of £650 would give you a weekly amount of £149.43.
Its possible that some charges may be made during the course of a tenancy and these may include payments in default.
Definition of a payment in default
A payment in default is a payment required by the landlord or agent arising from a breach of the tenancy agreement by the tenant, whether late payment of rent by its due date or some other breach.
These are occasions where it would be unfair for the landlord to be responsible for meeting the cost to them as a result of the actions of the tenant.
Examples of types of default payments could be:
• Missed appointments – such as a landlord arranging with a tenant for a
contractor to carry out remedial work at a property, and a tenant subsequently
refusing entry, or not being home to allow entry, resulting in charges to the
• Avoidable or purposeful damage to property – damage to a property
caused by neglect or careless or wilful behaviour by the tenant.
• Replacement keys – loss of keys by the tenant requiring a landlord to
arrange for the cutting of new keys and delivery of those keys to the tenant.
• Emergency/out of hours call-out fees – fees incurred as a result of a
landlord arranging for someone to attend the tenant’s property at the request of a tenant, such as a locksmith or an emergency glazier at the early hours of the morning, when the problem had been caused by the tenant in the first place, such as a window broken on purpose, or keys locked inside a house.
A payment in default can only be charged if there is a specific term in the tenancy agreement allowing for such a payment.
If a landlord tried to charge a payment in default which was not set out in the tenancy agreement, then that payment is prohibited.
Fees – Landlords
We charge 12% of the monthly rent collected on managed properties.
We charge a set up fee of £150 for a managed property.
For let only properties we charge 50% of the first months rent subject to a minimum fee of £300.00
EPC’s are at cost price of £65
Inventories are available, please ask for a quote.
Gas Certificates start at £65.