Tenant Fees & Charges

TENANT RENTAL FEES

 

 

The rules for how fees will be charged for Assured Shorthold Tenancies (AST) are different to how fees will be charged for Non-Housing Act Tenancies (NHA)

 

 

Housing Act Tenancies 

Non-Housing Act Tenancies (NHA) 

Assured Shorthold Tenancies (AST)

An AST is the most common type of tenancy if you rent from a private landlord or letting agent.

You usually have an AST if:

  • you don’t share any accommodation with your landlord and they live elsewhere
  • the rent is less than £100,000 a year
  • the tenant is an individual and is using the property as their main home

Common Law Tenancies

A tenancy would be created as a NHA if the rent is over £100,000 a year, or where it is not the tenant’s main home.

Company tenancies are also NHAs.

A company let is when a company takes on a residential tenancy agreement as the tenant, rather than an individual. The tenancy will be in the company name. The company employee will live in the property.

 

 

 

HOUSING ACT TENANCIES (AST)

 

 

Holding Deposit:

 

Equivalent of one weeks rent which will be put towards your first rent payment due on the completion of the tenancy.


The Tenant will forfeit their Holding Deposit should any of the following conditions apply:

  • The Tenant fails a Right to Rent check.
  • The Tenant provides false or misleading information to the Landlord or Agent, which affects their suitability to rent the property.
  • The Tenant notifies the Landlord or Agent before the deadline for agreement they have decided not to enter into a Tenancy Agreement.
  • The Tenant fails to take all reasonable steps to enter into a Tenancy Agreement.

 

 

Security Deposit:

 

Equal to 5 weeks rent for Tenancies with a value of up to £50,000 per annum and an amount equal to 6 weeks rent for Tenancies with a value over £50,000 per annum.

 

 

Variation, assignment of novation of a contract: £48

 

 

Early termination of a tenancy:


To cover the loss suffered by the Landlord or the reasonable costs incurred by the Agent.

 


Default fees:


Loss of key or other security device will result in a charge of the reasonable cost of replacing the lost key or security device. Late payment of rent will be charged at a fee equal to 3% above the base rate of interest as set by the Bank of England for the period the rent was due after being outstanding for a period of 14 calendar days.

 

 

Stamp Duty Land Tax:


Payable on tenancies where the rent (for the whole time a tenant stays in a property) exceeds £125,000

 

 

 

 

NON HOUSING ACT TENANCIES (NHA)

 


Initial Fees for Administration Cost, Rent, Deposit and Inventory Check-In


This must be paid on or before the start of the Tenancy, by bank transfer or bankers draft. If payment is made by personal cheque this should be made seven working days beforehand.

 

 

Administration Fee:


Single Tenant:  £270
Two Tenants:  £360
Three Tenants:  £450
Guarantor:  £180


This sum includes costs for references and Tenancy Agreement.

 

 

First month's rent in advance

 

 

Deposit:

 

The equivalent to a minimum of 1.5 months' rent and a maximum of 2 months' rent depending on the size of the property. Where the landlord has allowed pets the equivalent of 2 months' rent will be payable

 

 

Inventory check-in charge:


1 bedroom:  £108
2 bedroom:  £114
3 bedroom:  £120
4 bedroom:  £126
Additional rooms will be charged at £6 per room extra
Additional charge for furnished accommodation - £12 per room

 

 

Renewal

 

If a Tenancy is extended £48 per Tenancy will be charged to cover the Tenant's share of the administration costs

 

 

Deed of Surrender


Fee for drafting a Deed of Surrender £48

 

 

Early termination of Tenancy


Fee for early release from the Tenancy £300

 

 

Addendum/Amendment to Tenancy Agreement


Fee for additions/alterations to the original Tenancy Agreement £48

 

 

Preparing a new Tenancy Agreement


Fee for drafting a new Tenancy Agreement £120

 

 

Saturday Check-In


An additional fee of £30 will apply for a Saturday Inventory Check-In

 

 

Re-referencing


Fee for updating references during a Tenancy £48 per reference

 

 

Stamp Duty Land Tax:


Payable on tenancies where the rent (for the whole time a tenant stays in a property) exceeds £125,000

 

 

 

All charges are inclusive of VAT at the prevailing rate

 

 

 

Property Services (Haslemere) Ltd belongs to The Property Ombudsman Code of Practice for Letting Agents and has Client Money Protection provided by ARLA Propertymark. To download a copy of our current Client Money Protection certificate please click here.

 

 

 

 

 

 

 





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