TRANSPARENCY FOR TENANTS
Once you've found the perfect property and your offer has been accepted, we'll start preparing the tenancy agreement and organising everything for the commencement date. Below is a list of what you can typically expect to pay (VAT is included at 20% where applicable):
PRE-TENANCY
- A refundable holding deposit (to reserve a property) equal to 1 weeks rent
- A refundable tenancy deposit – typically equal to one month’s rent and capped at no more than 5 weeks rent where the annual rent is less than £50,000 or 6 weeks rent where the total annual rent is £50,000 or above
- One month’s rent prior to moving into the property
DURING-TENANCY (if required)
- Variation/assignment or novation of the tenancy – maximum of £50 or reasonable costs (if higher).
- The landlord reserves the right to charge interest (calculated from day to day) at 3% over the Bank of England base rate on late payments and the landlord may recover the interest as though it were rent, if the period of default exceeds 14 days following the due date.
- Payment for Council Tax/Utilities/TV Licence/Phone/Internet/cable TV/Satellite TV where we seek to recover the costs on behalf of the Landlord. You will be charged no more than the actual cost to the agent/Landlord.
- Loss of key or other security device (charge to cover landlord’s costs)
- Early termination of tenancy (calculated on a pro rata basis against the landlords costs associated with the re-letting of the premises)
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Addison Townsend is a Member of a redress scheme provided by The Property Ombudsman
