professional letting specialists, 235 Jesmond Road, Newcastle Upon Tyne NE2 1LA

Tenant Fees

Holding Deposit

One weeks rent will be taken to secure a property and will be held for 15 calendar days (unless otherwise expressly agreed) in order to complete all tenancy documents. This amount will be attributed to the first month’s rent following the execution of all tenancy documents within the 15 calendar days of receipt of the holding deposit. 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.

Security Deposit

Equal to one months rent – this covers damages or defaults on the part of the tenant during the tenancy Company Tenancy Administration Fee (full company tenancy administration fee is required to secure a property on a non AST agreement)
50% of 1 month’s rent ex. VAT, 60% inc. VAT

Company Tenancy Renewal Fee

£250 +VAT

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.
To pay the landloard reasonable admin costs associated with chasing late or failed rent or other payments due under this agreement and to pay interest at the rate of 3% above the bank of england base on any money due under this agreement which remains unpaid for more than 14 days with the interest to be calculated from the date the monies became due.

Lost Key(s) or other Security Devices

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(s), landlord, Agent and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 call out (+VAT) for the time taken replacing lost key(s) or other security device(s) at a cost of £6 per key.

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 Temination (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. The landlord’s re-let fee is equal to one months rent +VAT.

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