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Below is an example of the Terms of Business you will be required to sign if you decide to proceed with renting one of our properties. It will be customised to you and the property you have applied for. The Date of Agreement is usually 15 days from the date the Terms of Business have been signed.
You have applied to rent the property listed above on an initial six month Assured Shorthold Tenancy (AST). We require £XXX (equivalent to one week’s rent) to be paid to us as a holding deposit. The holding deposit will secure the property on your behalf whilst we conduct the following checks on behalf of the landlord and is protected under the Client Money Protection scheme. The Deadline for Agreement will be DATE. (This may be extended by mutual agreement.)
Once the Tenancy has been agreed with both parties, the holding deposit can be put towards the deposit required on the property for any agreed damages or dilapidations at the end of the tenancy. These funds will be held with the Deposit Protection Scheme (DPS) for the duration of your tenancy. Alternatively, you may request to have these monies refunded to you if this is your preference.
If a Tenancy is NOT agreed, then the holding deposit (or part of) may be withheld under the following conditions: –
Once the tenancy has started, we reserve the right to charge the following fees such to the conditions set out in the Tenant Fees Act 2019.
Late Payment of Rent: Should the rent payment be more than 14 days late and this is without prior agreement with either the landlord or their agent, the agent may impose a fee. This will consist of the interest chargeable on the outstanding amount. (This may not be more than 3% above the Bank or England base rate).
Lost Keys/Security Devices: Should the tenant lose or damage a key or security device/fob that subsequently needs replacing the Landlord or Agent may charge the tenant for the cost of its replacement. This must not exceed the actual cost of the device plus a reasonable administration charge. This charge will not exceed £25.00.
Changes to the Tenancy: A charge of £35.00 will be charged for any alterations to be made to an existing AST. This will include:-
Early Termination Fee: Should the tenant request to end the tenancy before the agreed term and, there is no break clause in place, then the following conditions will apply:-
Damages: The Landlord or their Agent may ask the tenant to pay for the repair or replacement of fixtures and fittings of the property if, the damage is a breach of the contract or, has been caused by neglect or negligence and cannot reasonable be left until the end of the tenancy eg a broken window. The Landlord may request that a suitably qualified contractor or tradesperson is used to undertake the repair/replacement but may not insist on a company or individual if the cost is deemed to be unreasonable.