Clear and Transparent Tenant Fees

New Assured Shorthold Tenancies (AST’s) Signed On or After 1 June 2019

One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

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.

Security Deposit (per tenancy. Rent of £50,000 or over per year)

Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent

Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s)

Tenants are liable to 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 £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request)

£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request)

£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration, preparation and execution of new documents.

Early Termination (Tenant’s Request)

£300 (inc VAT) Should the tenant wish to leave their contract early, they shall be liable for the costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy.

During The Tenancy (Payable To The Provider If Permitted And Applicable)

Utilities – gas, electricity, water. Communications – telephone and broadband. Installation and subscription of cable/satellite. TV Licence. Council Tax.

Other Permitted Payments

The Agent/Landlord may seek contractual damages for any loss that is incurred where a tenant has breached contract or caused damage/misuse of the property.

Tenant Fees (signed On or Before 31 May 2019)

Prior to Move In:

Application Fee (inc VAT) £200/Per Person

This charge includes identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability. In addition, the contract negotiation (amending and agreeing terms) and completing the tenancy agreement.

Guarantor Referencing (inc VAT) £100/Per Guarantor (Only if required)

Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.

Company Referencing (inc VAT) £200

This includes identity, financial credit checks and any other relevant information to assess affordability as well as contract negotiation (amending and agreeing terms) and completing the tenancy agreement.

Permitted Occupier (inc VAT) £50/Per person over 18 years of age

Processing application and associated paperwork and explaining rights and responsibilities to the named Tenant/s.

During The Tenancy:

Renewal Fee (inc VAT) £35

Contract negotiation, amending and updating terms for any further Tenancy and completion of all legal documentation necessary.

Early Release Fee (inc VAT) £250

The cost to release a Tenant early from the tenancy. This can only be agreed subject to securing a suitable replacement Tenant and full approval from the Landlord. In addition to the early release charge, the current Tenant will be responsible for any rent due up to and including the day prior to a new Tenant’s occupation.

Return of Bank Transfers/Standing Orders not due (inc VAT) £20

When a transfer is made to us which is not due, this charge covers our administration and bank charges incurred to reimburse those funds.

Rent Arrears at 4% pa above base rate

Interest will be payable for any rent arrears of more than 14 days.

Late Rent Charge/Recalled Payments (inc VAT) £25

If rent is late by 7 days or more the above fee will be charged. In addition, in the event that any Standing Order/Bank Transfer is recalled, this fee will be payable by the Tenant in every instance.

Accompanying a Contractor to the property (inc VAT) £30

Should a member of Beasley & Partners staff need to attend a contractors appointment the above fee is payable.

Ending the Tenancy:

Checkout Fee (inc VAT) £35

Attending the property to carry out a final inspection and negotiating the repayment of the security deposit.

Future Landlord Reference (inc VAT) £20, for each individual reference supplied

Collating information and preparing a reference/letter for a future Landlord, Letting Agent or 3rd party.

Dilapidation Fee – To pay the Landlord’s Agent, at their discretion, administration fees of (inc VAT) 12% of the cost of works undertaken in respect of dilapidations, subject to a minimum of (inc VAT) £30