We try to keep our fee structure as simple and clear as possible for tenants, with complete transparency and no hidden charges! The permitted fees in the table below are inclusive of VAT:
BEFORE YOU MOVE IN
Tenant Holding Deposit
A holding deposit of one weeks rent is required, per property, prior to commencing the full referencing / credit checks of all parties wishing to proceed with the above property (aged 18+)*.
*Please note a holding deposit does not constitute the offer of acceptance of a tenancy until such time as successful referencing is completed and the tenancy agreement is signed.
The holding deposit may be retained until the commencement of tenancy and then deducted from the first months rent.
This holding deposit can be retained by the agent, in the event of the following occurring:
- Applicant provides misleading, false or inaccurate information on their referencing application
- Failing the 'Right to Rent' checks
- Applicant withdrawing from the property or failing to take reasonable steps to enter into a tenancy within the agreed timescale
First Months Rent and Dilapidations Deposit
We will require payment of one month’s rent (less the 1 week holding deposit) in advance, PLUS dilapidation’s deposit of an amount equal to 5 weeks rent
Example: For a property that is £500pcm:
First Month’s Rent: £500
Dilapidations deposit: £576.00
Sub Total: £1,076.00
Less the 1 week holding deposit (£115.00)
DURING THE TENANCY
Late payment of rent
If your rent is 14 days or more overdue you will be charged daily interest on the unpaid amount, at 3% above the Bank of England base rate, until it is paid in full.
Loss of keys/security fob
If you lose keys to the property or you lose a security fob you will be charged the cost of replacing it with a new one. If extra costs are incurred (e.g. emergency out of hours call-out) a maximum of £15p/hr will be charged. If you require more sets of keys than those given to you at the start of a tenancy, you will have to arrange for these to be cut at your own expense.
Changes to the tenancy agreement (tenants request)
We will make a charge of £50 for each amendment that you request to be made to the tenancy agreement. For example adding or removing a tenant to the agreement or an amendment allowing you to keep pets in the property.
Early termination of the tenancy (tenants request)
It costs the landlord money every time we find tenants for the property. Therefore if you terminate your tenancy (with the landlords agreement) at any point prior to the end of the term, you may be charged the early termination fee of £250. This is a justified and reasonable fee that takes into account:
- The cost of re-advertising the property
- Associated travel costs for attending viewings
- The cost of referencing new tenants
- The cost of unsecuring your deposit, and registering the new tenants’ deposit(s).
You will also be responsible for the payment of the rent up to the point that the new tenancy takes over from yours.
"Been a tenant with Lovetts for the past five years In two different flats and always found them to be really helpful and friendly. Any repairs I had were always dealt with quickly. Only moving as being relocated with work."