Hermione for Tenants
In England under the new Tenant Fees Act 2019 and transitional arrangements until last May 2020, tenant fees are generally no longer chargeable, but there are a couple of exceptions like i.e. change of sharer and corporate lets.
All types of tenancy the ban will apply to:
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Assured Shorthold Tenancies (ASTs) – except social housing or long leases;
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Student tenancies;
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Licences to occupy (e.g.).
Assured Shorthold Tenancy (AST)
The following charges are payable or potentially payable by a tenant:
Holding deposit - A maximum of one week's rent
Security deposit - Five weeks rent, rising to six weeks rent when the annual rent is in excess of £50,000
Rent and Utility bills - Payable as outlined in the Tenancy Agreement Unpaid rent - Interest at 3% above the Bank of England base rate, as outlined in the Tenancy Agreement
Lost Keys - Tenants are liable for the cost of replacing any lost keys or security device, including a change of lock or replacement of device if required
Amendments of Tenancy Agreement at Tenant's Request - A minimum of £50 per change which could increase depending on the level of work required to carry out the amendment
Early Surrender of the AST at Tenant's Request - Should a tenant need to surrender the tenancy early and the Landlord agrees to re-let the property, the liability for the payment of rent will end once a new tenant is found and takes up occupation. However, the tenant will still need to cover the Landlord's costs in surrendering the tenancy and re-letting the property.
Non-AST
For any individual tenant not renting a property under an Assured Shorthold Tenancy the following charges are also payable:
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Tenancy Administration charge – 1 week rent per tenancy (this covers tenant referencing);
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Reference charge - £60 per guarantor;
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Check-out charge - £140 for 1 bed plus £15 per additional room and bathroom;
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Renewal charge - £170 per renewal.
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If a tenant decides to rent a property through us in the name of a business or company the tenancy administration and reference charge will be £350 or 1 week rent (which is more) for a new tenancy and £150 for every renewal.
All prices are inclusive of VAT.