TENANT FEES – ASSURED SHORTHOLD TENANCY TENANT FEES – ASSURED SHORTHOLD TENANCY Assured Shorthold Tenancy Charge Costs (£) Holding Deposit One week’s 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 Five weeks’ rent or Six weeks’ rent (if rent is £50,000 or over per year) This covers damages or defaults on the part of the tenant during the tenancy. Initial Rent Payment Monthly, quarterly, bi - annually or annually in advance. Rent is usually calculated monthly and for the daily rate the formula used is (Monthly Rent x 12 / 365 x Days) Utility Bills Outlined in your tenancy agreement and subject to the providers tariffs and may include all or some of the following: Telephone, Wi Fi, Water & Sewage, Electricity, Gas, Council Tax and TV License 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, landlord any other persons requiring keys will be charged to the tenant. Costs charged will be evidenced with receipts. Variation of Contract £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. Subject to landlord consent. Change of Sharer £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. Subject to landlord consent. Early Termination 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 rent outstanding on the tenancy. Subject to landlord consent. Right Now Residential is a member and covered by the ARLA/Propertymark Client Money Protection Scheme. Right Now Residential is also a member of a redress scheme provided by The Property Ombudsman. TENANT FEES – NON - HOUSING ACT TENANCY Non - Housing Act Tenancy* Charge Costs (£) Holding Deposit One week’s 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 Up to Six weeks’ rent This covers damages or defaults on the part of the tenant during the tenancy. Initial Rent Payment Monthly, quarterly, bi - annually or annually in advance. Rent is usually calculated monthly and for the daily rate the formula used is (Monthly Rent x 12 / 365 x Days) Utility Bills Outlined in your tenancy agreement and subject to the providers tariffs and may include all or some of the following: Telephone, Wi Fi, Water & Sewage, Electricity, Gas, Council Tax and TV License 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, landlord any other persons requiring keys will be charged to the tenant. Costs charged will be evidenced with receipts. Tenancy A greement Fee £360 (inc. VAT), drafting and execution of tenancy agreement if supplied by us, collecting and holding the Tenancy Deposit as Stakeholder (where applicable), issuing relevant deposit protection certificates (where applicable). C heck - Out Fee Minimum of £150 (inc. VAT) subject to property size, checking out of the property and reviewing the inventory. Reference Check Fee £60 (inc. VAT), per person, per UK company and per UK guarantor (if required). R enewal A greement Fee £240 (inc. VAT), negotiating and drafting extension to the fixed term. Variation of Contract £300 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents. Change of Sharer £300 (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. Right Now Residential is a member and covered by the ARLA/Propertymark Client Money Protection Scheme. Right Now Residential is also a member of a redress scheme provided by The Property Ombudsman. * Non - Housing Act tenancy is a type of rental agreement that falls outside of the provisions of the Housing Act 1988 Non - Housing Act tenancies are not subject to the same legal requirements as an Assured Shorthold Tenancy (AST). A N on - H ousing A ct tenancy is for tenancies with rents exceeding £100,000 per annum and whereby it is not the tenant’s principal/main home. Company tenancies are also Non - Housing Act tenancies.