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Tenancy Charges

The following are permitted payments (as in accordance with the tenant fees ban) which we the Landlord are entitled to charge and may request from you when required:

1) The rent for the property that you have signed up for.

2) A refundable tenancy deposit capped at no more than five weeks rent where the annual rent is less than £50,000, or six weeks rent where the total annual rent is £50,000 or above.

3) A refundable holding deposit (to reserve a property) capped at no more than one weeks rent.

4) Payments to change the tenancy when requested by the tenant, capped at £50.00 or reasonable costs incurred if higher. (Please note that this is for changes to an existing tenancy agreement i.e. giving permission for a pet to kept at the property).

5) Payments associated with early termination of the tenancy, when requested by the tenant. (Please note that this is where a tenant wishes to end a tenancy that is still within the fixed term. i.e. we then have to create a whole new tenancy agreement with new tenants).

6) Payments in respect of utilities, communication services, TV license and council tax.

7) Under the tenant fees ban legislation the landlord is allowed to charge for two types of default payments – loss of keys and late payment of rent. For the loss of keys, the landlord is allowed to charge the reasonable cost that they can evidence in writing. For late payment of rent, the landlord can charge interest if the rent is more than 14 days late. The landlord can charge 3% above the Bank of England base rate in interest on the late payment of rent from the date the payment is missed.

8) Damages: Where the tenant has breached their tenancy agreement and caused damage as a result, then landlords may still seek compensation via deductions from the deposit or court action.

Should you want to discuss this further then please don’t hesitate to get in touch.