Kirby Colletti are fully compliant with the Tenant Fee Act 2019. The Permitted Payments allowed and the circumstances in which they can be charged under the Act are detailed below.
Rent – The amount will be agreed prior to the tenancy commencement.
Outstanding Rent – Interest charged 3% above the Bank of England’s base rate from day 14, but will be back dated if more than 14 days rent is owed
Holding Deposit – One week’s rent. This is paid to reserve a property. A holding deposit can be retained where a tenant; provides false or misleading information, fails a Right to Rent check, withdraws from a property, or fails to take all reasonable steps to enter into a tenancy agreement.
- Five week’s rent – If the total annual rent for the property is less than £50,000.
- Six week’s rent – If the total annual rent for the property is more than £50,000.
The security deposit provides the landlord with security in the event of damage caused to a property, excessive wear & tear, loss of rent or the terms of the tenancy agreement being broken.
Change of Sharer – £50 (inc. VAT) for amending the tenancy agreement, or any reasonable costs incurred if higher.
Variation of Contract - £50 (inc. VAT) per variation.
Early Termination – The tenant will be required to pay rent under their tenancy agreement until a suitable replacement tenant is found. They will also be liable to the landlord’s costs in re-letting the property.
Lost Key or Security Device - The tenant will be responsible for the actual cost of replacing a lost key or security device giving access to the housing, where this is required under the tenancy agreement. The cost will vary depending on the key/device.
A charge of £15 per hour (inc. VAT) will also become due for the time taken in replacing a lost key or security device.