Holding Deposit (per tenancy)
One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right- to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year)
Five weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent of £50,000 or over per year)
Six weeks’ rent.
This covers damages or defaults 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 (Tenant’s Request)
£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 (Tenant’s Request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher.
Early Termination (Tenant’s Request)
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.
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.
Right to Rent Checks
We are required to undertake document checks to establish whether each named Tenant has the right to rent a property in accordance with the Immigration Act 2014. We must obtain original versions of one or more acceptable documents and check the documents validity in the presence of the holder before the start of the tenancy.
We also require proof of address, e.g. a copy of a utility bill or a bank, building society or credit card statement showing your name and current address (no more than 3 months old).
Payment
The initial payment will consist of the first instalment of rent and the deposit.
Payment should be made by direct transfer of funds to our bank account (details on the invoice) by same day transfer (CHAPS), online
banking or BACS.
GPP must be in receipt of cleared funds in full settlement of the amount shown on the initial invoice before the start of the tenancy.
Inventory
An inventory will normally be checked in at a pre-arranged time on the day the tenancy commences with an independent inventory clerk booked by GPP. It is strongly recommended that the Tenant is present both for the check-in and check-out to avoid any disputes at the end of the tenancy.
Insurance
We strongly recommend that you have taken out your own insurance to protect any of your own contents that you hold at the property.
Services
The Tenant is responsible for the gas, electricity, water, telephone, TV licence, broadband, paid for TV services (eg Sky) and council tax bills for the duration of the tenancy. Either your Landlord or GPP will contact the utility companies (excluding phone, broadband and TV companies who do not allow us any third party authority) on your behalf and will instruct them to transfer the accounts into your name at the start of the tenancy. However, you should also contact the suppliers to make sure this has been done. Please do not arrange for any of the utilities to be transferred to a different supplier without letting us know.
Management
At the commencement of the tenancy, we will advise you who will be responsible for the day to day management of the property and provide you with the relevant contact details. If we are not managing the property, we are unable to arrange any repairs or maintenance on the Landlord’s behalf, nor can we control how quickly repairs will be carried out. Where we manage the property, it may be necessary for us to obtain the Landlord’s consent before arranging a repair.
Subletting
By entering into a private residential tenancy agreement you agree you will not, without the prior consent of the landlord, (1) sublet the property; (2) advertise the property anywhere in print or via any other media, including any internet-based marketing websites or any social media or messaging websites or apps; (3) take in paying guests or lodgers.
LET AND RENT COLLECTION SERVICE
For the avoidance of doubt, our percentage fee for the lettings service is payable for the duration of the tenancy including any renewals or extensions. The fee is paid monthly in advance.
EXAMPLE If a tenant signs a contract for 12 months at a rent of £800 pcm, the fee payable will be: £800 x 12 mths x 7% plus VAT (at 20%) = £806.40. If a tenant signs a renewal contract at a rent of £800, the fee payable will be: £800 x 12mths x 7% plus VAT = £806.40.
ADDITIONAL CHARGES
Land Registry Check (to ensure you are the legal owner)
£5 (including VAT)
Tenancy Agreement Fee
£150 (including VAT) per tenancy
Tenant and Guarantor Reference Charges
£45 (including VAT) per tenant and/or guarantor reference
If you decide not to proceed with the tenancy after an offer has been accepted by you
£200 (including VAT) to cover our marketing costs
House Sitting
£80 (including VAT) per hour (applies to the management service only)
Arranging major internal or external redecoration or repair works to the Property above and beyond the day to day management requirements with a contractor estimate of over £1,000
We charge a fee of 12% plus VAT (14.45 including VAT) of the costs of the works