Sovereign Estates Tenant Fee’s 2019
Holding Deposit – One weeks rent
Paid by you to reserve the Property. This will only be retained by us 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.
Deposit – capped at 5 weeks rent where the annual rent is under £50,000 and 6 weeks rent where the annual rent is £50,000 or higher.
This will cover damages and defaults by the tenant as detailed in the AST during the tenancy.
Late payment of Rent
Interest will be charged at 3% above the Bank of England Base Rate from Rent Due date until paid in full. This will not be levied until the rent is more than 14 days in arrears with the interest calculated back from the first day of the arrears.
Lost Keys or security devices
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.
Variation or changes to an existing tenancy agreement — £50 (inc. VAT) per change.
This charge will cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. This also covers costs in ‘change of sharer’ situations and covers the landlords costs in securing a new sharing and associated legal requirements in processing that new sharers application.
Early Termination as requested by Tenant
Should you wish to leave the property before the end of your tenancy agreement, and should the landlord agree to this, then you will be liable to cover the landlord’s costs of re-letting the property as well as any rent due under the terms of your tenancy agreement up until the point the replacement tenancy commences.
Tenants will remain responsible, unless agreed otherwise, for all utility payments, TV licence and Council Tax accounts. Please refer to your AST for full information.
Our independent Redress provider is – The Property Ombudsman
Our Client Money Protection is provided by - Client Money Protect
Sovereign Estates, 70 The Broadway Chesham Buckinghamshire HP5 1EG