NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1st JUNE 2019
Holding Deposit (per tenancy) - One week's rent. This is to reserve a property. Note: This will be withheld if the applicant withdraws from the tenancy, fails a Right-to-Rent check, provides materially false or misleading information or the tenant fails to take all reasonable steps to enter into a tenancy agreement within 15 calendar days (or other deadline mutually agreed in writing).
Security deposit (per tenancy, Rent of under £50,000 per year) - Five weeks' rent. This covers damages or defaults on the part of the tenant during the tenancy refundable at the end of the tenancy.
Security Deposit (per tenancy, Rent of over £50,000 per year) - Six weeks' rent. This covers damages or defaults on the part of the tenant during the tenancy refundable at the end of the tenancy.
Late Payment or Rent or Unpaid Rent - Interest at 3% above the Bank of England Base Rate from the due date until paid. (Not charged until the rent is more than 14 days late).
Company tenant - £600.00 (Inc. VAT) This is to reserve a property and is a non-refundable referencing fee, set up fee and contribution to the tenancy agreement. A full security deposit will also be required (Company tenant is defined where the tenant will be PLC, Ltd or LLP)
Lost Key(s) or other Security Device(s) - Tenants are liable for the actual cost of replacing lost keys or other security device.
Variation of Contract (Tenants Request) - including request by tenant for a change of sharer. To cover the costs of taking landlord’s instructions and preparation of a new tenancy agreement capped at £50.00 or reasonable costs if higher.
Early Termination (Tenant’s Request) - The tenant shall be liable to the landlord’s reasonable costs in re-letting the property including rent due under the tenancy until the start date of the replacement tenancy.
The Residency Scheme Subscription
Waterfords is a part of the National Federation of Property Professionals Client Money Protection Scheme through their membership of ARLA Propertymark (The Association of Residential Letting Agents). View the Client Money Protection Security.
Waterfords are members of the Property Ombudsman being the largest lettings redress scheme in the UK.
If you have any questions, please contact your Local Branch.