Tenant’s Obligations – Deposits and Permitted Payments

On renting a rental property, the following deposits and permitted payments are stated:

Notes

  • All rent is per calendar/lunar month, payable in advance
  • Rents exclude water, sewage, gas, electric, communications, Television Licence and Council Tax, which are payable by you, unless otherwise stated
  • Tenants receiving Universal Credit will be required to have a Guarantor. In some circumstances you may not be considered for certain properties
  • A copy of our draft Tenancy Agreement is available on request

Holding Deposit

  • Equivalent to one week’s rent with a deadline for agreement of 15 days from the date the holding deposit is received. A deadline for agreement can be shortened or extended but only by agreement in writing with the tenant. The holding deposit will be repaid when:

– the landlord and the tenant enter into a tenancy agreement relating to the housing (repaid within 7 days from the date of the tenancy agreement);

– the landlord decides before the deadline for agreement not to enter into a tenancy agreement relating to the housing (repaid within 7 days from the date of the tenancy agreement), or

– the landlord and the tenant fails to enter into a tenancy agreement relating to the housing before the deadline for agreement (repaid within 7 days from the deadline for agreement date).

Prospective Tenants – Post Acceptance

  • One month/lunar rent in advance
  • Deposit equivalent to 5 week’s rent. Held with the Deposit Protection Service.

Default Fees

  • Loss of keys or other security devices
  • Variation, assignment, novation or renewal of tenancy – £50 (when requested by Tenant) (£60 including VAT)
  • Payment on termination of tenancy (at tenant’s request)
  • Payment of damages for breach of tenancy
  • Failure to pay rent in full on the agreed date – In addition to the rent itself, payment of interest is a permitted payment.

All fees stated are applicable per tenancy agreement.

Townsend Chartered Surveyors are members of the redress schemes The Property Redress Scheme (PRS) and CEDR (Centre for Alternative Dispute Resolution) and deposits are lodged with the Deposit Protection Scheme (DPS). Townsend Chartered Surveyors are regulated under the RICS Client Money Protection Scheme. See certificate here