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Tenant Fees

Residential Lettings – Guide for Tenant’s Costs

Holding Deposit (Per Tenancy)
This is to reserve a property. The Holding Deposit will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to Rent check or provide materially significant false information. 
Equivalent of 1 Weeks Rent
First Month’s Rent 
Payable on or before the commencement of the tenancy. Future rent will be payable by Standing Order. 
As per the agreed rent
Tenancy Deposit 
The deposit is held as security for any damages caused during the tenancy and is payable on or before the commencement of the tenancy. All deposits for a property let by Townsends are held by the Deposit Protection Scheme. 
5 Weeks Rent
Company Application 
Referencing Fee (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous landlords, as well as contract negotiation (amending and agreeing terms), drawing up the Tenancy Agreement and Schedule of Condition/Inventory if compiled.
£396.00 Inc. VAT
Tenants will be responsible for costs of all services (where applicable). This includes gas, water, electricity, telecommunications including cable and satellite where applicable, broadband, ADSL lines, cable and satellite and council tax. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy.

Addendum/Variation Of The Tenancy Agreement (Tenant’s Request) To cover the cost of contract negotiation, amending terms as well as the preparation and execution of new legal documents. £60 Inc. VAT per agreed variation.
Rent Late Payment Fee 
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. 
3% above Bank of England base rate.
Replacement of Lost Keys/Electronic Keys or Other Security Device Cost incurred in replacing the key or security device.Reasonable cost of replacing the key or security device.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall be liable for the landlord’s costs in re-letting the property as well as all the rent due under the tenancy until the start date of the replacement tenancy. 
Landlords re-letting costs as well as the rent due until the start of the replacement tenancy