In early 2025, central banks across the globe, including the Federal Reserve and the European Central Bank, made significant moves to cut …
Additional Tenancy Fees to Consider
Besides paying rent for the property, you might also need to cover the following tenancy fees when applicable:
Holding Deposit
Equivalent to a maximum of one week’s rent of the property. This serves to secure the property while your application is under review
Tenancy Deposit
Equivalent to five weeks’ rent, increasing to six weeks’ rent for annual rents exceeding £50,000.
Advance Rent
Rent is typically paid in advance for each tenancy. As a minimum requirement, you will need to pay the first month’s rent before your tenancy begins. However, the exact amount may vary based on the terms of your agreement.
Please be aware
The holding deposit will not be refunded if any involved party (including guarantors) withdraws from the tenancy, fails a Right-to-Rent check, provides significantly false or misleading information, or does not sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or an alternative Deadline for Agreement as mutually agreed upon in writing).
Holding Deposit
Equivalent to a maximum of one week’s rent of the property. This serves to secure the property while your application is under review
Tenancy Deposit
Equivalent to five weeks’ rent, increasing to six weeks’ rent for annual rents exceeding £50,000.
Advance Rent
Rent is typically paid in advance for each tenancy. As a minimum requirement, you will need to pay the first month’s rent before your tenancy begins. However, the exact amount may vary based on the terms of your agreement.
Please be aware
The holding deposit will not be refunded if any involved party (including guarantors) withdraws from the tenancy, fails a Right-to-Rent check, provides significantly false or misleading information, or does not sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or an alternative Deadline for Agreement as mutually agreed upon in writing).
During the term of your tenancy
Amendments to the tenancy agreement
If a tenant requests a change in tenancy after initial agreement and subject to the landlord agreeing to cover the cost of the preparation and execution of new documentation being issued the fee is £50.00 (Inc. VAT).
Change of Sharer or Variation of Contract
If a tenant request change of tenant, the fee is £50 (Inc. VAT) per replacement of tenant or any reasonable costs incurred if higher. To cover the cost of the preparation and execution of new documentation being issued.
Unpaid rent
To pay interest at the Bank of England’s base rate +3% per day on any amount of rent that is more than 14 (fourteen) days late (if the bank’s interest rate is 3%, the landlord or agent (but not both) would be entitled to charge the tenant interest at no more than 6% on the overdue amount for the number of days that the payment has been outstanding). You must pay interest on the full amount that you owe, from the date you should have paid the rent until the date you actually pay.
Payments to other third parties
such as Council Tax, utilities or payments for communications services (internet).
Locks and security
If, during your tenancy, you ask your landlord or us, as your agent to attend due to you having lost your keys or due to you being unable to access the property because you have damaged the key or the lock, you are liable for the replacement of any lost key(s) or other security device(s). If the locks need to be changed, then you are liable to pay the full costs of a locksmith. New lock and replacement keys for the tenant, landlord, managing agent any other persons requiring keys will be charged to the tenant.
Early Termination
Should a tenant need to terminate the tenancy early and the landlord agrees to re-let the property, the tenant will be required to pay the landlord’s costs in re-letting the property as well as all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.
Non AST's signed on or after 1st June 2019
Holding Deposit:
A minimum of £500.00 is required to reserve the property while your application is processed. Please note: The holding deposit may be forfeited if any involved party (including guarantors) withdraws from the tenancy, fails a Right-to-Rent check, provides materially false or misleading information, or does not sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days or another mutually agreed deadline specified in writing.
Before your tenancy commencement
A minimum of £500.00 is required to reserve the property while your application is processed. Please note: The holding deposit may be forfeited if any involved party (including guarantors) withdraws from the tenancy, fails a Right-to-Rent check, provides materially false or misleading information, or does not sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days or another mutually agreed deadline specified in writing.
- Tenancy documentation fee: £150 (incl VAT) per tenancy.
- Reference fee for each tenant or guarantor: £110 (incl VAT).
- Company check reference fee: £180 (incl VAT)
- Inventory Charges: In most lease agreements, the tenant is responsible for covering the inventory check-in costs before the tenancy begins. Please refer to the cost details below:
Check-in charge
- 1 bed – £100 (Inc. VAT)
- 2 bed – £130 (Inc. VAT)
- 3 bed – £160 (Inc. VAT)
- 4 bed+ – £180 (Inc. VAT)
Throughout your tenancy
Tenancy renewal fees:
£150 (incl VAT) to be paid by the tenant. This fee is applicable upon renewal if both you and your landlord agree to extend the tenancy for another term.
Late Rent Payment
If your rent payment is overdue by more than 14 days, a daily interest charge of £15.00 will apply to the total outstanding amount from the original due date until it is fully paid.
Additional applicable fees may include
Changes to Tenancy Agreement Parties at Tenant’s Request (Tenancy Swap): If you wish to modify the parties involved in your tenancy agreement, a new agreement must be established. A fee of £150 (incl VAT) for the tenancy swap will apply, along with a reference fee of £110 (including VAT) per tenant and/or guarantor.
Changes to Tenancy Agreement Parties at Tenant’s Request (Tenancy Swap): If you wish to modify the parties involved in your tenancy agreement, a new agreement must be established. A fee of £150 (incl VAT) for the tenancy swap will apply, along with a reference fee of £110 (including VAT) per tenant and/or guarantor. Please note that any changes are contingent upon obtaining consent from the landlord and passing reference checks. Contract Variation at Tenant’s Request: Should you desire alterations to any terms within your tenancy agreement, an addendum will be necessary. A contract variation charge of £100 (incl VAT) is required from the tenant. It is important to understand that variations are subject to landlord approval.
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