Letting fees information
Charters Estate Agents are in full compliance with the Tenant Fee Act 2019. Below we outline the Permitted Payments allowed under the Act, and under what circumstances those payments may be charged. It should be noted that the Tenant Fee Act 2019 only applies to Assured Shorthold Tenancies and as such fees for other tenancy types may still apply and are listed in full below.
PERMITTED PAYMENTS FOR ASSURED SHORTHOLD TENANCIES
Holding Deposit
We require a payment equivalent to one weeks rent to reserve the property and allow us to commence the paperwork preparation for the tenancy. This payment will later go towards the first month´s rent but will be retained in full should the applicant fail referencing or right to rent checks, withdraw from the application or fail to enter into a tenancy agreement within 15 calendar days.
Security Deposit
We will require the equivalent of five weeks´ rent where the annual rent is less than £50,000, or six weeks´ rent where the annual rent is £50,000 or above as a security deposit and this will be registered with a government approved scheme.
Rent
Rent will be agreed in advance of the tenancy. The rent will be reviewed at the conclusion of each fixed term in accordance with the relevant clauses and provisions in the tenancy agreement.
Changes to the tenancy agreement
£50 (inclusive of VAT)
Where a tenant requests a change to the tenancy agreement (e.g. a change of sharer or permission to keep pets in the property) this fee is payable for the work involved in amending the tenancy agreement. Any changes are strictly subject to the Landlord´s consent and the Landlord is under no obligation to grant such changes.
Early Termination of Tenancy
Landlords reasonable costs which will not exceed the maximum amount of rent outstanding on the tenancy.
If the tenant wishes to leave before the end of their contracted period of tenancy, a fee is payable to compensate the landlord for any loss incurred and the costs involved in securing a replacement tenant earlier than should have been necessary. Any termination is strictly subject to the Landlord´s consent.
Utilities, Council Tax, Communication Services and TV Licence
Tenants are responsible for paying bills in accordance with the tenancy agreement which will usually include council tax, utility payments (gas, electricity, water) and communication services (broadband, TV etc).
Late Rent Default Charges
Bank of England base + 3%
In accordance with the relevant clauses within the tenancy agreement, the tenant must pay a default fee for late payment of rent (which is more than 14 days overdue). Default fees will accumulate from the first day the rent is late, but will not be levied until 14 days thereafter.
Replacement of Lost Keys, Security Device or Remote Control
Tenants are liable for 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 (Inc. VAT) for the time taken replacing lost key(s) or other security device(s).
ADDITIONAL FEES FOR TENANCIES NOT COVERED BY THE TENANT FEE ACT 2019
Check Out fee
£150 (inclusive of VAT) per property
Renewal Fee
£60 (inclusive of VAT)
CLIENT MONEY PROTECTION PROVIDED BY: ARLA
INDEPENDENT REDRESS PROVIDED BY: The Property Redress Scheme
