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SUMMARY OF FEES FOR TENANTS
Holding Deposit
One week's rent (rent x 12 divided by 52)
This is taken at the point an offer has been accepted by a landlord and prior to references being processed. Please note: This will be withheld if any relevant person (including any guarantor) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant or false 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
Equivalent to 5 weeks rent (rent x 12 divided by 52 x 5)
This covers damages or defaults on the part of the tenant during the tenancy.
Late or unpaid rent
Interest at 3% above the Bank of England Base Rate from the 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 Keys/Security Devices
Tenants are liable to the actual cost of replacing any lost keys or other security devices. 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 and any other person requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for time taken replacing lost keys or other security devices.
Variation of Contract (Tenant's request)
£50 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 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 (Tenant's request)
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.
CLIENT MONEY PROTECTION
Byrne Runciman is part of the RICS Client Money Protection scheme, scheme reference number 737123.
REDRESS SCHEME
Byrne Runciman is a Full Member of The Property Ombudsman (TPO) and commits to TPO Codes of Practice. Membership number D10725.
All the above fees are inclusive of vat. If you have any queries please ask a member of staff.
