Redress Scheme: The Property Redress Scheme

CMP Scheme: Client Money Protect

New Assured Shorthold Tenancies (ASTs) Signed On or After 1st June 2019

Holding Deposit (per tenancy) One Week's rent

This is to reserve a property and will be offset against 1st months Rental. Please note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit (per tenancy. Rent under £50,000 per year) Five weeks' rent

This covers damages or defaults on the part of the tenant during the tenancy. This will be registered in the DPS (Deposit Protection Service) for the term of the tenancy and any renewal tenancy.

Unpaid Rent or Lat Rent Payment

Interest will be charged at 3% over the Bank of England’s base rate if a rent payment is more than 14 days overdue for each day that the rent payment remains outstanding.

Lost Key(s) or other SecurityDevice(s)

Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request) £50 per agreed variation

To cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents. For a change of the tenancy agreement after the tenancy has established or commenced and the landlord is in agreement, there will be a charge of £50 to the tenant. If additional costs are incurred in securing permissions for such a charge with a third party, there cost will be passed to the tenant.

Early Termination (Tenant'sRequest)

If a tenant wishes to terminate a tenancy before the end of the fixed term or notice period stated in the tenancy agreement and the landlord agrees that the tenant(s) can terminate early, the tenant shall be still liable to pay the rent as required under the tenancy until the end of the fixed term or notice period or until a suitable replacement tenant is found who has passed referencing and relevant checks with the landlord’s acceptance. The tenant will also be liable for any losses incurred by the landlord which would include costs for letting and management service fees for the unexpired portion of the tenancy, rent losses (i.e. rent difference between current and replacement tenancy), referencing, check in/out, deposit registration, tenancy agreement, marketing and advertising etc.

Contratual Damages

In the event that the landlord incurs costs due to the tenant’s breach of contract or failure to fulfil the obligations contained in the tenancy agreement, the tenant will be liable for these costs.

Bank Transfer Charge

The applicant/tenant(s) is responsible for any administration charges levied by his/her own bank in relation to proceed the tenancy.

Failure to Keep Appointments

If, during your tenancy, we have to re-arrange an appointment for the purposes of periodic inspection or maintenance or check out due to your failure to keep the appointment, there will be a call-out charge by third party contractors and this charge will be passed to the tenant.