When renting a property, you should expect to pay the following in cleared funds, 5 days prior to the commencement of your tenancy:
In order to proceed with an agreed tenancy (subject to contract and references) Paige and Petrook requests a holding payment per tenancy to stop marketing the property. This payment will form part of the 5 week Security Deposit.
Holding Deposit – Equivalent of 1 weeks rent (Monthly rent x 12 months ÷ 52 weeks = TOTAL)
The applicant accepts that should they decide not to continue with this rental once the offer has been accepted, this advance payment will be retained as compensation. If the applicant has provided false information to the agent which results in them failing the reference checks this advance payment will be retained as compensation. Should the Landlord withdraw their agreement to proceed with this Tenancy prior to its scheduled commencement Paige and Petrook will reimburse the tenant the advance payment paid in full.
Security Deposit - equivalent of 5 weeks rent (Monthly rent x 12 months ÷ 52 weeks x 5 = TOTAL)
Should the annual rent exceed £50,000.00 the security deposit will increase to six weeks rent.
The first month’s Rent must be in cleared funds a minimum of 5 days before the start of the Tenancy.
Additions or amendments (such as a Deed of Variation or Assignment) to the Tenancy Agreement (one the tenancy has commenced) shall incur a charge of £50 inc VAT per variation.
Where a Tenant loses a key or other security device giving access to the property to which the tenancy relates, the cost of the replacement key or security device and locksmith cost shall be charged to the Tenant and a copy invoice of our costs will be provided.
Late rent payments, paid 14 or more days after the due date, shall incur a fee of 3% plus the Bank of England base rate which shall be calculated to the date of payment.
In the event of early termination by the tenant, the tenant shall be liable for early termination costs including all rent due under the tenancy until the start date of the replacement tenancy and the landlord’s costs in reletting the property. These costs will be calculated at the point of the tenancy termination.
You will be responsible for costs of all services (where applicable) including gas, electricity, water, telecommunications including broadband, ADSL lines, cable and satellite if applicable and council tax.
You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy.