Due to the introduction of the tenant fee ban in 2019, other than the rent itself, a tenant cannot legally be charged any fees when renting a property. The only monies we can ask a tenant for are listed below:
Holding Deposit – equal to one week’s rent and payable once your application has been accepted on a property, subject to references. This takes the property off the market and begins the referencing process. This deposit is redeemable against your first month’s rent. If you provide false or misleading information, or you are unable to pass the referencing process, this holding deposit is non-refundable. However, if the landlord decides not to offer you a tenancy for reasons unconnected with the above, then your deposit will be refunded within 7 days.
Security Deposit – a security deposit of 5 weeks’ rent will be taken and registered with the TDS. This will cover any damages or defaults on your part during your tenancy. (If the tenancy has a total rent of over £50,000 per year, then a deposit of 6 weeks’ rent will be taken.)
Late Rent Payments – you will be charged an administration fee of £25 including VAT for each time the rent is 2 working days or more overdue.
How do we ensure our tenants are protected?
We are a registered member of the Propertymark Client Money Protection Scheme. This is a client money protection scheme to ensure your money is handled within the correct manner. Download a copy of our Propertymark Client Money Protection Certificate here.
You can review the Propertymark Conduct and Membership Rules here.
We are also members of The Property Ombudsman, which is a redress scheme for consumer complaints.