In addition to paying the rent, you may also be required to make the following payments permitted under the Tenant Fees Act 2019.
Before the tenancy starts (payable to Northwood (Cornwall)
Holding Deposit: Equivalent to one weeks rent (annual rent divided by 52). This will be withheld if any relevant person (including any guarantor(s)) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant or false or misleading information, or fails to sign their tenancy agreement and if relevant a guarantor agreement, within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Deposit: Payable before the start of the tenancy and held under a Government approved scheme for the duration of the agreement. It will be repaid in full provided all tenancy obligations have been fulfilled. The deposit will be subject to a maximum of five weeks rent.
Zero Deposit: An initial, non-refundable fee is required, equivalent to one week’s rent plus a £49 set up fee, followed by an annual fee of £17.50. Only one guarantee is needed per Assured Shorthold Tenancy Agreement.
Unpaid Rent during the tenancy (payable to the Agent)
Payment of Interest at 3% above the Bank of England Base Rate for late payment of rent from the due date until paid. (Not charged until the rent is more than 14 days overdue).
During the tenancy if permitted and applicable
Utilities; gas, electricity, water and sewerage
Communications: telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Other permitted payments
Any other permitted payments, not included above, for breaches of contract or under the relevant legislation including contractual damages. These may include:
Lost keys – The actual cost of replacing lost keys or other security device. If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys will be charged to the tenant.
Variation of a contract at the Tenant’s request – To cover the costs of taking landlords instructions and execution of new contract capped at £50.00 inc VAT or reasonable costs if higher.
Adding or removing a Tenant at the Tenant’s request, with the Landlords approval – To cover the costs of taking landlords instructions, new tenant referencing and Right-to-Rent checks, deposit registration and execution of new tenancy agreement capped at £50 inc VAT (per replacement tenant or any reasonable costs incurred if higher).
Early termination costs – This does not give a right to terminate a tenancy earlier than the end of the fixed term and any request will be considered on a case by case basis. If the Tenant is granted permission to terminate the contract early, the tenant shall be liable to the landlords reasonable costs in re-letting the property including rent due under the tenancy until the start date of the replacement tenancy.
Northwood (Cornwall) is a member of Safeagent, which is a client money protection scheme, and also a member of the Property Ombudsman, which is a redress scheme. You can find out more details on our website or by contacting us directly.