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Tenants fees
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019
| Holding Deposit (per tenancy) |
One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Rightto-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. |
| Security Deposit (per tenancy. Rent £50,000 or over per year |
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Unpaid Rent | Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears. |
| Lost Key(s) or other Security Device(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 (inc. VAT) for the time taken replacing lost key(s) or other security device(s). |
| Variation of Contract (Tenant’s Request) |
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. |
| Change of Sharer (Tenant’s Request) |
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents. |
| Early Termination (Tenant’s Request) |
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy. |
If you any questions on our fees, please ask a member of staff.
However, if you have signed a rental agreement via The Frost Partnership prior to 1st June 2019, the following charges in the table below apply to each tenant/guarantor until 31st May 2020.
| Tenancy charges | |
|---|---|
| Tenancy agreement/Admin fee | £240 per tenancy (£200 + VAT) Tenancy agreement fee covers our administrative costs for preparing tenancy agreements and administrative costs to handle your deposit with the Tenancy Deposit Scheme. |
| Referencing fee | £84 per tenant (£70 + VAT) Referencing fee is required for all the reference checks we need to make to verify your credit status, previous employer, current or past landlords - to ensure you are able to honour the agreement. |
| Guarantor reference fee (if applicable) | £84 per tenant (£70 + VAT) |
| Renewal fee | £90 per tenancy (£75 plus vat) – Renewal fee covers the costs of preparing the paperwork to renew the tenancy for a further term. |
| Additional variable costs | |
| Check-in fee | Varies on the size of the property The check-in fee covers the cost of the check in report which details the exact condition of the property on the day the tenancy commences and is sent to both landlord and tenant as a record of this. The check in is designed to protect both tenant and landlord should any disputes arise at the end of the tenancy relating to the condition of the property. |
| Rent | 1 x the agreed calendar month’s rent in advance |
| Security deposit | 1.5 x the agreed calendar month’s rent as a deposit Increased security deposits may be required in certain situations. Please call your local office for more information. Deposits are held during the term of the tenancy agreement and released when the property is returned back to the owner, only when the property is proven to be in good condition. If you own pets you may have to pay a slightly higher security deposit fee. |
