Tenancy fees are covered by the Tenant Fees Act which protects tenants’ rights. Letting agents and landlords can only ask you to pay specific fees.
Here is a summary of the fees associated with a tenancy arranged by Letting Genie. If you have any questions, please contact us.
Holding deposit (per tenancy)
One week’s rent.
This reserves a property and is payable when you submit your pre-tenancy application form. This will be deducted from your first month’s rent when you move in *
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 is charged on overdue rent at 3% above the Bank of England base rate.
Payable from the rent due date until paid in full. Please note that this will be charged once the rent is more than 14 days in arrears.
Lost key(s) or other security device(s)
Tenants are liable for the actual cost of replacement.
If locks have to be changed, the costs will apply for a locksmith, new lock and replacement keys for the tenant, landlord and anyone else who needs keys. If additional costs are incurred there will be a charge of £15 per hour.
Variation of contract (tenant’s request)
£50 per agreed variation.
This fee covers taking your landlord’s instructions, preparation and execution of new legal documents.
Change of sharer (tenant’s request)
£50 per replacement tenant or any reasonable costs incurred, if higher.
This fee covers taking your landlord’s instructions, new tenant referencing and right-to-rent checks, deposit registration, preparation and execution of new legal documents.
Early termination (tenant’s request)
The landlord’s costs in re-letting the property and rent due under the tenancy until the start date of the replacement tenancy.
This fee applies to tenants who wish to leave their contract early if the landlord consents. It will be no more than the maximum amount of rent outstanding on the tenancy.
Additional rent for pet(s)
Additional rent of £15 per calendar month per free-roaming pet.
This fee applies if the landlord agrees to pet(s) at the property. This will be agreed with the tenant in advance and prior to a reservation deposit being taken.
Council tax, utilities and communication services
Tenant(s) are responsible for paying bills in accordance with the tenancy agreement.
Includes council tax, utilities (gas, electricity, water) and communication services (broadband, TV, telephone).
Please note: Your holding deposit will not be refunded if any relevant person (including any guarantor(s)):
• withdraws from the tenancy application process
• fails a right-to-rent check
• provides significantly or materially false or misleading information
• fails to sign the tenancy agreement (and/or deed of guarantee) within 15 calendar days (or other deadline as mutually agreed in writing).
If you have any questions about tenancy fees.