Tenants Fees

FEES TO TENANTS - JUNE 2019

NEW ASSURED SHORTHOLD TENANCIES (AST'S) SIGNED ON OR AFTER 1 JUNE 2019

Holding Deposit (per tenancy): One week's rent

In order to proceed with an agreed tenancy (subject to contract and references), a holding deposit per tenancy (not exceeding one weeks rent) is required to reserve a property. This payment will form part of the initial monies for renting a property.

Should the applicant decide not to continue with the rental once the offer has been accepted, this advance payment will be retained as compensation. Should the Landlord withdraw their agreement to proceed with the tenancy prior to commencement, the applicant will be reimbursed the advanced payment in full.

WHEN RENTING A PROPERTY, THE APPLICANT SHOULD PAY THE FOLLOWING IN CLEARED FUNDS PRIOR TO THE COMMENCEMENT OF THE TENANCY:

Security Deposit - five weeks rent

(Monthly rent x 12 months)/52 weeks x 5 = TOTAL. Should the rent exceed £50,000 per annum the security deposit required will increase to six weeks rent. The deposit covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent

Rent payments, paid 14 days or more after the due date shall incur an interest payment of 3% above the Bank of England Base Rate until the date on which the rent is paid.

Lost Key(s) or other Security Device(s)

Tenants are liable for the actual cost of replacing any lost key(s) or other security device(s), if lost keys result in the need of a locksmith, new locks and keys the cost will also be borne by the tenant. A copy invoice or our costs will be provided.

Variation of Contract Fees: £50.00 inc VAT per request.

To cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents.

Change of Sharer Fee: £50.00 inc VAT per replacement tenant

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.

Ending Your Tenancy

In the event of an early termination of a tenancy, the tenant shall be liable for termination costs including all rent due under the tenancy until the start date of the replacement tenancy. The tenant's liability will include the landlord's costs in re-letting the property. The costs will be calculated at the point of termination.

Management of the property

At the start of the tenancy we will advise you who is responsible for managing the property. This is not always Tailor Estates. Where we are not managing the property, we cannot authorise any repairs or maintenance, or guarantee the speed at which repairs will be carried out. Where we are managing the property, we may have to obtain the landlord's consent before proceeding with a repair.

Where we manage a property and hold keys, we can usually provide access to Tailor Estates contractors (with the tenant's permission). However, where we do not hold keys or the contractor is not willing to collect keys, it is the tenant's responsibility to provide access.

Insurance

It is the tenant's responsibility to insure their belongings throughout the tenancy. Tailor Estates highly recommend that all tenants take out some form of contents insurance to protect their belongings - TVs and gadgets, food in the freezer and the clothes in your wardrobe. When applying for a Tenancy tenants will be contacted by one of our Insurance partners for a free, no obligation quote.

Utilities

The tenant will be responsible for the payment of telephone, gas, water and electricity accounts at the property during your tenancy, as well as the council tax. It is the tenant's responsibility to notify the relevant companies and the local authority that you are moving into/out of the property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy. Utility companies will also always require the occupant to provide access for any visit.

Taxation

If you pay rent directly to your landlord's bank account and your landlord is a resident overseas, you will be responsible for applying the provisions of the HM Revenue and Customs Non-Resident Landlords scheme for taxing UK rental income and should ask us for advice on this. These provisions do not apply where you are paying your rent to Tailor Estates.

Anti-Money Laundering Regulations

Tailor Estates is subject to the Money Laundering Regulations 2007. Therefore, we will need to ask you for suitable identification, and will be unable to proceed with arranging the tenancy on your behalf if we are unable to obtain identification from you.

VAT

All charges levied by Tailor Estates are subject to VAT at the current rate of 20%.



Client Money Protection:

www.clientmoneyprotect.co.uk

Independent Redress:

www.tpos.co.uk

Has your property's value increased? Call 01708450433


© Tailor Estates | Sitemap | Terms