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Holding Deposit (Per Tenancy)
One Weeks 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.
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 Keys or Other Security Devices
Tenants are liable to the actual cost of replacing any lost keys or other security devices. 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 (inc. VAT) for the time taken replacing lost keys or other security devices.
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 reletting the property as well as all the 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.
Tenant protection
Nicholas Jones Residential is an ARLA PROPERTYMARK Licensed Agent
Nicholas Jones Residential is a member of Propertymark Client Money Protection which is an approved client money protection scheme. Scheme Reference C0126217 valid until 30th September 2025.
Nicholas Jones Residential is a member of The Property Ombudsman, which is a redress scheme.
Membership Number T05903
