Tenant Fee Information Schedule
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1st JUNE 2019
(Fees apply to Property let in both England and Wales unless otherwise stated below)
Holding Deposit (per tenancy) - One week's rent. This is to reserve a property. Please note: this 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 Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security deposit (per tenancy, Rent of under £50,000 per year) - Five weeks' rent. This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy, Rent of over £50,000 per year) - Six weeks' rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid rent (England only) - 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.
Rent Arrears/Returned Payments (Wales only) £20.00 (Inc. VAT) per letter, telephone call or email plus interest at 3% above the Bank of England Base Rate from the Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with chasing unpaid rent.
Company tenant £600.00 (Inc. VAT) This is to reserve a property and is a non-refundable referencing fee, set up fee and contribution to the tenancy agreement. A full security deposit will also be required (Company tenant is defined where the tenant will be PLC, Ltd or LLP)
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 may be a charge of £15 per hour (Inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenants Request) (England only) - £50 (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) (England only) - £50 (Inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlords 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 for the landlords costs in re-letting the property as well as all 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. Please refer to our website www.leaders.co.uk for details of landlord fees.
The Residency Scheme Subscription
Charges are quoted inclusive of VAT
(optional and please refer to your local branch for details)
- Monthly rental - Up to £499, Monthly subscription - £35.00, Monthly subscriptions (where pets have been agreed) - £45.00
- Monthly rental - £500 to £999, Monthly subscription - £42.00, Monthly subscriptions (where pets have been agreed) - £52.00
- Monthly rental - £1,000 to £1,749, Monthly subscription - £56.00, Monthly subscriptions (where pets have been agreed) - £66.00
- Monthly rental - £1,750 or over, Monthly subscription - £70.00, Monthly subscriptions (where pets have been agreed) - £80.00
Arbitration (only payable under the Residency Membership) – If, following negotiations regarding the schedule of damages at the end of a tenancy, an agreement cannot be reached, you can request that your case be sent to an independent adjudicator. The fee for this is £120 (Inc. VAT) which, if your case is successful, will be returned to you. This is done on a pro rata basis, for example, if you are awarded 50% or your claim you would receive back 50% of your fee.
Leaders is a part of the National Federation of Property Professionals Client Money Protection Scheme through their membership of ARLA Propertymark (The Association of Residential Letting Agents). View the Client Money Protection Security.
Leaders are members of the Property Ombudsman being the largest lettings redress scheme in the UK.
If you have any questions, please contact your Local Branch.