Holding Deposit (per tenancy)
One Week’s rent. This is to reserve a property and will be offset against 1st months Rental. 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.
Interest at 4% 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. 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.
On payment of the holding deposit, the applicant accepts the above terms and understands the apartment is a new build property and if they are applying for an apartment not viewed this may differ in aspect, size and internal fixtures from one viewed virtually or the show apartment.
Please see the information below relating to the new rules on holding deposits and how they must be treated:-
The holding deposit must be returned to the tenant: either in payment back to the tenant, or being put towards the first rental payment, of the security deposit.
There are some exceptions. In these cases the Landlord can keep the holding deposits:
- The tenant withdraws
- The tenant doesn’t take all reasonable steps to enter the tenancy
- The tenant fails a right to rent check
- The tenant provides misleading information which materially affects their suitability to rent the property
CERT Residential Property Management Ltd will conduct a right to rent credit check on your behalf. We also provide the following Information below to you regarding the repayment of your holding deposit:-
Landlords are only able to hold the holding deposit for 15 days unless another ‘deadline’ date is agreed in writing.
After the deadline, the holding deposit must be repaid within 7 days according to the above rules (see above).
The holding deposit can be repaid to the tenant, or it can be put towards the rent or tenancy deposit.
All inclusive full management service
12% (excl VAT) 14.4% (including VAT) of collected rent
New development handover service
£300 plus VAT (£360 including VAT) for a studio;
£400 plus VAT (£480 including VAT) for a 1 bedroom property;
£500 plus VAT (£600 including VAT) for a 2 bedroom property; and
£600 plus VAT (£720 plus VAT) for a 3 bedroom property.
Let Only Fee
Tenant find £500 plus VAT (£600 including VAT) deducted from the first month’s rent.
Tenancy Administration fee for new tenancies £200 plus VAT (£240 plus VAT).
Administration fee for renewals for existing tenancies £100 plus VAT (£120 including VAT).
Preparation of Inventory (inclusive of third party clerk’s charges)
1 Bed £125 plus VAT (£150.00 including VAT)
2 Bed £150 plus VAT (£180.00 including VAT)
3 Bed £165 plus VAT (£198.00 including VAT)
Optional Additional Services
Statutory Compliance Services
Electrical Installation Condition Report (inclusive of the cost of the contractor):
£135.00 plus VAT (£155 including VAT)
Energy Performance Certificate
£65 plus VAT (£78 including VAT)
Supervision of Vacant Property
One weekly visit to the Property, visually checking the contents and security and reporting on the same (for the avoidance of doubt not including any survey or in-depth inspection): £60 plus VAT (£72 including VAT) per week and payable monthly in advance. Please note that this cost may vary depending on the location of the Property and the service required. If the cost is to exceed £60 plus VAT (£72 including VAT) the Agent will inform the Landlord in advance.