We have some useful information below to help you get started with our lettings. We don't see why renting should be complicated - when you find a place through us we'll make things as easy as we can.
Tenant Fees Schedule
Assured Shorthold Tenancies (AST)
Holding Deposit (per tenancy) - This is to reserve the property once terms have been agreed between yourself and the Landlord:
Equivalent of one weeks rent which will be put towards your first rent payment due on the completion of the tenancy.
The Tenant will forfeit their Holding Deposit should any of the following conditions apply:
- The Tenant fails a Right to Rent check.
- The Tenant provides false or misleading information to the Landlord or Agent, which affects their suitability to rent the property.
- The Tenant notifies the Landlord or Agent before the deadline for Agreement they have decided not to enter into a Tenancy Agreement.
- The Tenant fails to take all reasonable steps to enter into a Tenancy Agreement within 15 calendar days or other deadline for Agreement as agreed in writing.
Security Deposit (Tenancies with an annual value of up to £50,000) - 5 weeks rent
Security Deposit (Tenancies with an annual value of over £50,000) - 6 weeks rent
Late Payment of Rent - Late payment of rent will be charged at a fee equal to 3% above the base rate of interest as set by the Bank of England for the period the rent was due after being outstanding for a period of 14 calendar days.
Loss of Key or Security Device - Loss of key(s) or other security device(s): Tenants are liable for 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 £24 per hour (Inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation, assignment or novation of a contract – This could be a new person moving into the property, a change of sharer or any other agreed terms to change the terms of the agreement: £48 including VAT
Early Termination – Leaving the Tenancy before the end of the term or agreed break point: To cover the loss suffered by the Landlord or the reasonable costs incurred by the Agent. These costs will not exceed the maximum rent outstanding on the tenancy.
Non Housing Act Tenancies (Incl. Company Lets)
Administration Fee – To cover referencing for all tenants as well as confirming your identity and right to rent in the UK as well as negotiating & arranging the tenancy: £444 including VAT. This is non refundable should the tenant withdraw from the tenancy but refundable should the landlord withdraw from the tenancy for any reason other than failed referencing or failure on your part to disclose important information (e.g. unspent criminal convictions)
Contract Reissue Charge – Renegotiating the terms of the tenancy after agreement has been reached between all parties and the documents are out for signature: £192 including VAT.
Security Deposit - Usually 1.5 – 2 months rent.
Variation, assignment, novation or renewal of a contract - £48 including VAT.
Re-referencing – Referencing any new tenants being added to the tenancy or re-referencing any tenants whose financial situation has changed where the need arises: £48 including VAT per reference.
Check out – The cost of the independent inventory clerk checking the condition of the property against the original check in report: Dependent on size and furnishing of property.
Stamp Duty Land Tax – Please note this applies to ALL tenancies where the total value of the tenancy over the period the tenant lives in the property exceeds £125,000 and is payable by the tenant to HMRC.
Void Periods - As a tenant you must inform the owner of any absences of 30 days or more, you remain responsible for the property during any long term absences and would be responsible for any regular checks required by the Landlords insurer. You can obviously have a friend or relative do this or for a small charge, Grantley can offer this service, in which we will also pick up any post and look out for any problems that might arise during your absence.