Tenancy Fees
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. Please note some fees, as indicated, will be subject to VAT at the prevailing rate.
If you have any questions, please contact us.
Fee
Amount
Details
Holding deposit (per tenancy)
One week’s rent.
This reserves a property and is payable within 24 hours of being informed your application is provisionally approved having submitted 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.
Unpaid rent
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 (plus VAT) 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 (plus VAT) per replacement tenant or any reasonable costs incurred, if higher. The fee will be £75 (plus VAT) per replacement tenant if a guarantor is being referenced to support the application.
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 landlords' 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.
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).
Tenants are responsible for obtaining their own TV Licence.
Company Tenant Fee
Company tenant is defined where the tenant will be PLC, Ltd or LLP
Fee £495.00 (plus VAT)
This fee is to reserve a property and to cover the costs of setting up a tenancy and tenancy referencing. The fee is non-refundable and a full security deposit will also be required.
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).
Contact Us
If you have any questions about tenancy fees.
