Tenant Fees
Fees and Policies Explained
When embarking on a new tenancy agreement, it's crucial to be well-informed about the financial aspects and policies that come into play. In this guide, we will provide you with a clear understanding of the fees associated with your tenancy, as well as the policies that govern them. From holding deposit fees to security deposits and more, we aim to help you navigate the financial commitments that come with securing your new home.
It's our commitment to transparency and clarity, ensuring that you have the information you need to make informed decisions throughout your tenancy journey. Let's get started on this important exploration of tenancy fees and policies.
| Holding Deposit - One week’s rent - to reserve a property. | This will be refundable unless: the applicant withdraws from the tenancy, fails a Right-to-Rent check, provides materially false or misleading information, or fails to sign their tenancy agreement within 15 calendar days (or other deadline as mutually agreed in writing). |
| Deposit- Rent under £50,000 - Five weeks’ rent | This is money held as security for damages or defaults of a tenant throughout the tenancy (secured in a government approved deposit protection scheme) and will be refundable at the end of the tenancy. |
| Deposit – Annual rent of £50,000 or over - Six weeks’ rent | This is money held as security for damages or defaults of a tenant throughout the tenancy (secured in a government approved deposit protection scheme) and will be refundable at the end of the tenancy. |
| Late payment of rent | Interest at 3% above the Bank of England Base Rate for late payment of rent (i.e. more than 14 days overdue) from the due date until paid. |
| Lost Key(s) or other Security Device(s) | Tenants will be liable for the actual cost of replacing lost keys or other security device. |
| Variation of Contract - (Tenant’s Request) including a request for a change of sharer | To cover the costs of taking landlord’s instructions and preparation of new contract capped at £50.00 or reasonable costs if higher. |
| Early Termination - (Tenant’s Request) | Following the request of an early termination to the tenancy the tenant shall be liable to the landlord’s/agent’s reasonable costs in re-letting the property (including the rent due) until the start date of the replacement tenancy. |
- Thara Properties is a member of the CMP Client Money Protection scheme giving you the peace of mind that comes with this government approved protection.
- Thara Properties is a member of the government approved redress scheme The Property Ombudsman that provides redress in the unlikely event of a dispute being unable to be resolved.
[1] As required by the Consumer Rights Act 2015 Section 83
Please do not hesitate to inquire with our staff if you have any questions regarding our fees.
