Holding Deposit (per tenancy) One weeks rent. This is to reserve a property. Please note: This will be withheld if any relevant person (including 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 (bond) (per tenancy if rent under £50,000 per year) Five Weeks’ rent to cover damages or defaults of the tenant during the tenancy.
Security Deposit (bond) (per tenancy if rent of £50,000 per year or over) Six Weeks’ rent to cover damages or defaults 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. 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 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 the 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 the rent outstanding on the tenancy.
Highfield Property are members of The Property Ombudsman (TPO) redress scheme and have Client Money Protection (CMP) through the Propertymark Client Money Protection Scheme.
