Tenant fees

Tenant fees


Fees applicable for tenants

There are various costs you need to consider when renting property. The charges set out below are in line with Government legislation. If you have any queries, please contact our letting team.

Assured Shorthold Tenancies
An AST is the most common type of tenancy if you rent from a private landlord or letting agent. You usually have an AST if:
  • you don’t share any accommodation with your landlord and they live elsewhere
  • the rent is less than £100,000 a year
  • the tenant is an individual and is using the property as their main home.
-When an offer is agreed, we will ask you to pay a one weeks rent holding fee. This is credited to the move-in monies due.
– Advance Rent: As a minimum, the first months’ rent is payable before your tenancy commences, (may differ dependent on the terms of your tenancy).
– Tenancy Deposit: Equivalent of 5 weeks’ rent (if annual rent is less than £50,000) or 6 weeks’ rent (if annual rent is £50,000 or more), payable before your tenancy commences.
– Inventory check-out when you vacate: Approximately £100- £250 depending on the size of the property.
 
During your Tenancy:

– Late rental payment. Interest will be charged at 3% per annum over The Bank of England’s base rate.
– Lost keys or other security devices: The costs of replacing them plus if required, the costs of a locksmith, new lock and replacement keys for anyone requiring keys.
 
Other fees that may apply:
 
– Tenancy Swap: £50 (inc. VAT) plus any reasonable costs incurred if higher, will be payable by the tenant subject to the landlords consent and reference approval.
– Variation of Contract: £50 (inc. VAT) per variation will be payable by the tenant subject to the landlords consent.
– Early Termination of Tenancy: All landlord’s costs in re-letting the property plus all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.


Non-Assured Shorthold tenancies

A Tenancy would be created as a NHA if the rent is over £100,000 a year, or where it is not the tenant’s main home.

Company tenancies are also NHA’s.

A company let is when a company takes on a residential tenancy agreement as the tenant, rather than an individual.

The tenancy will be in the company name. The company employee will live in the property

-When an offer is agreed, we will ask you to pay a one weeks rent holding fee. This is credited to the move-in monies due.
– Tenant admin fee to cover referencing, administration and tenancy paperwork: £320 + VAT (£384 incl. VAT)
– Advance Rent: As a minimum, the first months’ rent is payable before your tenancy commences, (may differ dependent on the terms of your tenancy).
– Tenancy Deposit: This is usually the equivalent of 6 weeks’ rent, payable before your tenancy commences.
– Inventory check-out when you vacate: Approximately £100- £250 depending on the size of the property.
– If you renew your tenancy with us, we charge £150 + VAT (£180 incl. VAT)
 
During your Tenancy:

– Late rental payment. Interest will be charged at 3% per annum over The Bank of England’s base rate.
– Lost keys or other security devices: The costs of replacing them plus if required, the costs of a locksmith, new lock and replacement keys for anyone requiring keys.
 
Other fees that may apply:
 
– Tenancy Swap: £50 (inc. VAT) plus any reasonable costs incurred if higher, will be payable by the tenant subject to the landlords consent and reference approval.
– Variation of Contract: £50 (inc. VAT) per variation will be payable by the tenant subject to the landlords consent.
– Early Termination of Tenancy: All landlord’s costs in re-letting the property plus all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.


Additional Information

– Berkeley & Woods is a member of ARLA, meaning we have an arla-qualified staff member and works to the ARLA guidelines.
– Client Money Protection: Berkeley & Woods is a member of the Property Mark Clients Money Protection Scheme, ensuring the security and protection of client funds.
– Redress: Berkeley & Woods is a member of The Property Ombudsman (tpo) scheme and subscribes to the tpo Code of Practice for Residential Lettings Agents.