This is equal to one weeks rent and must be paid to reserve a property. In the event of withholding information regarding adverse credit or similar reasons to decline the tenancy this is non refundable.
An example of the holding deposit is if the monthly rent is £650 the holding deposit it would be £150 (£650 x 12 months, divided by 52 weeks)
This is equal to five weeks rent where the total annual rent is less than £50,000 or six weeks rent where the annual rent amount is above or more.
An example of the tenancy deposit is if the monthly rent is £650 the tenancy deposit it would be £750, but you would have already paid the £150 holding deposit leaving a balance when you pick of the keys of £600
If tenants wish to make any changes to their tenancy agreement which alters the obligations of the current tenancy agreement a charge of £50 + VAT will be payable.
Having sign a fixed term contract if the tenant then wishes to leave earlier than the scheduled end of the term they will be liable to pay the landlords costs for the reletting of the property as well as all rent due under their agreement until the new tenancy commences.
Late payment of rent: Rental payments overdue by more than 14 days will be subject to interest at the rate of 3% over the bank of Englands base rate calculated from the date the payment was due up until payment is received.
Lost keys or security devices: Tenants are liable to the actual cost of replacing and lost ket(s) or other security device(s). If the loss results in the locks needing to be changed, the actual cost of a locksmith, new lock and replacement keys for the tenant, landlord and any other persons requiring keys will be charged to the tenant.