Tenant Charges

At Kings, we pride ourselves on transparency and that’s why we have published this list of all the charges you can expect, in relation to securing a property through us. Not all the charges will be relevant to you, so make sure you ask in advance so that you are clear on costs:

What permitted payments can I expect to pay if I rent a property with Kings Sales & Lettings?

When you have agreed on the property of your choice, Kings will provide you with a Tenancy Application Form. This helps explain not only the next stages of your application but any permitted payments which are due before you sign your Tenancy Agreement and any which may become payable during and after the tenancy. This will also include confirmation of the agreed rent and the deposit.

 

Below is a list of our current permitted payments. At any time you are interested in a property, please ask a member of staff for a full breakdown of permitted payments that may be payable before, during and after a tenancy.

 

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 under £50,000 per year) Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).

 

Security Deposit (per tenancy. Rent of £50,000 or over per year) Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).

 

Unpaid Rent. 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.

 

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 any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will 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 (Tenant’s Request) £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

 

Change of Sharer (Tenant’s Request) £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

 

Early Termination (Tenant’s Request). Should the tenant wish to leave their contract early, they shall be liable to the landlord’s 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.

 

Client Money Protection is provided by CMP. Redress through The PRS.

 

Please note that lettings agents are required by law to publish on their websites information for potential tenants about relevant fees, redress schemes and client money protection schemes (including the names of those schemes). Relevant fees must also be published on third party websites, such as Rightmove, Zoopla & On The Market. For properties to rent in England, details of the agent’s membership of any redress scheme and client money protection scheme must also be published with their fees on Rightmove, Zoopla & On The Market. It is the agent’s responsibility to ensure that all relevant information is provided to Rightmove, Zoopla & On The Marketand is up to date and accurate. If the relevant information does not appear here, the agent may have included it within the property description.

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