Guide to Tenant's Fees

New Assured Shorthold Tenancies (ASTs) signed on or after 1 June 2019

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.

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.

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 £15.00 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). 
 

Existing Assured Shorthold Tenancies (ASTs) And All Assured Tenancies

The following "non-refundable" fees will be payable in the event that the landlord has accepted your "subject to contract" application to take up a tenancy agreement. These fees are preliminary fees and do not guarantee that your application will be accepted. For example, if credit  references received show that you are not a suitable candidate or should you decide that you no longer wish to proceed, you will lose these fees and you will not be entitled to a tenancy agreement. 

Referencing

Once the property has been secured, you will be required to complete our reference process which includes the following fees: 

  • Referencing Fee (Per Adult) £40.00 
  • Guarantor Fee (Per Adult) £50.00
  • Holding Deposit (Per Application) £500.00

The referencing fee includes checking your current credit status, landlord reference, employment reference and character reference.

This holding deposit is a deposit of intent and it is deducted from the initial monies, which are paid on or before the day that you move into the property. If you retract your offer or fail references for any reason your holding deposit will not be refunded.

These fees are payable as soon as possible once you have been notified that the Landlord is prepared to consider your offer to take up a tenancy agreement, 

Administration Fee

Once we have received suitable references  and the Landlord is prepared to enter into a tenancy agreement,  we will then prepare a tenancy agreement and the following fee will be payable: 

  • Administration fee (Per Adult) £140.00

The administration fee covers the cost of creating the tenancy agreement, holding and registering the deposit with the tenancy deposit scheme as well as .

Renewal of Tenancy 

In the event that you renew your tenancy for a further period the following charge is made. 

  • Renewal tenancy agreement charge £75.00 

Please do not hesitate to contact a member of Andrews Residential, if you have further question regarding our fees.

NOTE - RENT DEPOSIT

For your budgeting purposes you need to take into account that a RENT DEPOSIT will be payable also.       

Before signing the tenancy Agreement you will be required to lodge with us a rent deposit , usually equal to six week’s rent. The rent deposit is security for the landlord against non-payment of rent during your tenancy and such things as breakages or damage to the property. The monies will be held in a recognised rent deposit scheme and will be returnable subject to any claims that your landlord has against you.

TENANTS’ GUIDE: Renting A Property Through Andrews Residential - for some helpful tips and to and Learn more about the process to renting a property see out: