Permitted Payments

For new tenancies, the following permitted payments may apply

Holding Deposit

This is a maximum of one weeks’ rent. This is a payment to reserve the property and is used as part of the initial move in monies for the property. Please note, this will be withheld if any relevant person (including guarantors) withdraw from the tenancy, provide materially significant false information regarding income, right to rent or credit check information.

Security Deposit

If the rent is under £50,000 per year, the maximum security deposit will be five weeks rent. This covers damages, defaults and breaches of tenancy on the part of the tenant during the tenancy.

If the rent is £50,000 per year over, the maximum security deposit will be six weeks’ rent. This covers damages, defaults and breaches of tenancy 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

£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

£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

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.

Rent

The rent is payable to either the letting agent or the landlord as required by the payment schedule in the tenancy agreement. The payment details will also be on the tenancy agreement

Other Charges

During the tenancy, other payments are potentially applicable and payable to the provider, where required under a tenancy agreement. This includes payment in respect of utilities, communication services, TV licence and council tax.

For any current tenancies with Highcastle Estates that commenced prior to 1^st June 2019 the following charges will apply under your tenancy agreement until 31^st May 2020.

Check out fee: £139

Referencing fee: £25 per tenant

Change of occupant during tenancy: £199 per tenant

Tenancy extension fee: £149

Client Money Protection (CMP): ARLA Propertymark
Redress scheme: The Property Ombudsman