Tenant Fees
RENT:
First month’s rent payable in advance by bank transfer to Landlord’s client bank account.
TENANCY DEPOSIT:
WALES:
Usually 1.5 x monthly rent and an additional £200 per pet depending on the size/ breed of the animal.
This will cover damages and defaults by the tenant as detailed in the AST during the tenancy.
Example – Rent £800 ÷ 2 = £400 + £800 = £1,200 deposit
ENGLAND:
Capped equivalent to 5 weeks rent where the annual rent is under £50,000 and 6 weeks rent where the annual rent is £50,00 or higher.
This will cover damages and defaults by the tenant as detailed in the AST during the tenancy.
Example – Rent £800 x 12 = £9,600 ÷ 52 = £184.61 x 5 = £923 deposit required.
CHARGES FOR ANY DAMAGE TO THE PROPERTY:
During or at the end of the tenancy will be in line with invoiced costs to remedy the property to set to its original condition
HOLDING DEPOSIT – Capped at one week’s rent:
They are paid by you to reserve the property. This will only be withheld if the tenancy does not commence (including guarantor (s) due to the applicant withdrawing from the tenancy and not proceeding on the agreed date, if the applicant fails a Right to Rent check, provide false, incorrect or misleading information, or fail to sign their tenancy agreement) and/or Deed of Guarantee). The tenancy start date should be within 15 days of payment unless a different date is agreed upon and in writing by both agent and applicant. The agreed holding deposit will be deducted from the main Tenancy Deposit on commencement of the agreement.
Example – Rent £650 ÷ 4.35 = £149.42
EARLY TERMINATION OF TENANCY WHEN REQUESTED BY THE TENANT:
Should the tenant wish to leave the property before the end of their tenancy agreement, and should the landlord also agree, the tenant will be responsible to pay the equivalent of the cost incurred by the landlord charged by Homelink Lettings Ltd. This is the equivalent cost a landlord would have paid for sourcing and securing new tenants of £299 inclusive of VAT.
DEFAULT CHARGE FOR LATE PAYMENTS:
Charge will be the equivalent of 3% per annum above the bank of England base rate from Rent due date until paid in full. This will not be levied until the rent is more than 14 days in arrears with the interest calculated back from the first day of the arrears.
DEFAULT CHARGE FOR LOST KEYS or SECURITY DEVICES:
Actual cost of replacing the key plus any other associated costs incurred. 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.
UTILITIES, COMMUNICATIONS SERVICES, TV LICENCE AND COUNCIL TAX:
Tenants will remain responsible, unless agreed otherwise, for all utility payments. Please refer to the terms under the signed Tenancy Agreement.