Tenant's guide

Answering all your questions about renting a property…

How much will it cost? - What payments are due, and when do I need to pay them?

Here’s our guide to the charges you may incur when you rent a property through us. All charges include VAT.

To secure a property you are required to pay the following:

Holding Deposit (per tenancy): Equivalent to one weeks rent

Please note: This deposit will be withheld if any relevant person (including any guarantor(s)) 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 Guarantor Agreement) within 15 calendar days (or other ‘Deadline of Agreement’ as mutually agreed in writing).

Once referencing has been completed, you are required to pay the following:

First Months Rent

Security Deposit (per tenancy, for rents under £50,000 per year): Equivalent to five weeks rent

Security Deposits (per tenancy. Rent of £50,000 or over per year): Equivalent to six weeks rent

This covers damages and/or defaults on the part of the tenant during the tenancy.

Other Permitted Payments

Unpaid Rent
Interest at 3% above the Bank of England Base Rate from the 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):
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, Landlord and any other persons requiring keys will be charged to the tenant. If extra costs are incurred, there will be a charge of £15.00 per hour (inc VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenants request) £50.00 inc VAT per agreed variation
To cover the costs associated with taking Landlords instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenants request) £50.00 inc VAT per replacement tenant or any reasonable costs incurred if higher
To cover the costs associated with taking Landlord instructions, new tenant referencing and Right-To-Rent checks, deposit registration as well as the preparation and execution of new legal documents

Early Termination (Tenants request):
Should the tenant wish to leave their contract early, they shall be liable to the Landlords costs in re-letting the property as well as all the rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Mark Templer Residential Lettings & Management is a member of ‘Propertymark’, which includes 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 our office directly on: 01275 343322.