Holding deposit: Equal to one week's rent of £250.00 This will be withheld if any relevant person, including any guarantor, 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: £1250.00 Equal to Five weeks rent of this covers damage or defaults on the part of the tenant during the tenancy. The deposit will be registered with The Deposit Protection Service (DPS) 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):
Our tenant fees
Our agency will not progress an application until the holding deposit has been paid and an application form is completed and returned by the applicant(s). To avoid unnecessary delays, it’s important that you return your application form(s) within 48 hours.
The holding deposit is the equivalent of one week’s rent, which once paid, is offset against the total balance due.
A tenancy cannot be completed until the agreed first month’s rent and bond are paid in full. On occasions, the Landlord may request a guarantor in order to offer a tenancy subject to referencing. The holding deposit is non-refundable should following referencing, it is discovered that key material facts have been omitted or prove false which then leads to the Landlord declining your application.
By paying the holding deposit, the property you have reserved will be taken off the market and all future viewings cancelled, and it is therefore deemed fair that the tenant will receive no refund should they later decide not to take up the tenancy or fail to move in on the agreed proposed check in date.
If the Landlord decides against proceeding with the tenancy, the tenant will receive a full refund of all monies paid.