Information concerning Tenant Fees
Connections Letting Agents are members of The Property Ombudsman and CMP are our Client Money Protection Scheme.
The following information is provided as a guide too Charges and Fees that as a tenant, you should be aware of, when letting a property with Connections Letting Agents. This information in relation to applications for tenancies that take place after the 1st June 2019.
The following Fees and Charges are inclusive of VAT.
Holding deposit (per tenancy):
In order to secure a property, Connections Letting Agents will ask for 1 week’s rent – In the event that either the applicant or guarantor withdraws from the tenancy, or if the applicant fails the Right-to-Rent check, or if in the application materially significant, false or misleading information is provided, or they 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) this will be withheld.
Security Deposit (per tenancy, Rent of less than £50,000 per year): Five weeks’ rent. This is to cover any damage or defaults on the part of the tenant during the period of the tenancy.
Security Deposit (per tenancy, Rent of £50,000 or over per year): Six weeks’ rent. This is to cover any damage or defaults on the part of the tenant during the period of the tenancy.
An Interest of 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 for the 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 per hour for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request):
£50 per agreed variation. This is to cover the costs associated with taking landlord’s instructions as well as the preparation and execution of the new legal documents.
Change of sharer (Tenant’s Request):
£50 per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and new Right-to-Rent checks, new deposit registration as well as the preparation and execution of the new documents.
Early Termination (Tenant’s Request):
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s re-letting costs for 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. These will be no more than those that advertised in the Landlord Fees either on our website or in our Landlord Brochure.