Once you have found your new home, in order to proceed with the property you will need to pay a holding fee. Please note that there may be other additional fees for which you will be liable as a condition of the tenancy, these are listed below:
Holding Fee (per tenancy)
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).
The calculation for this is as follows: multiply the monthly rent x 12 (months in the year) then divide by 52 (weeks in the year). E.G. Rent of £1,000 pcm x 12 = £12,000 p.a. ÷ 52 = £230.77.
Security Deposit (per tenancy – rent under £50,000 per year)
Five weeks’ rent – This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy – rent of £50,000 or over per year)
Six weeks’ rent – This covers damages or defaults on the part 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 cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to 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)
This is chargeable at £50 (inc. VAT) per agreed variation. This is to cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (tenant’s request)
This is chargeable at £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. This is 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 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 rent outstanding on the tenancy.
Utilities (payable to the supplier)
To include gas, water, sewerage, electricity or any other fuel unless included within the rent.
Council Tax
Payable to the billing authority unless classed as exempt. If you are unsure please contact our team.
Landline and Wifi
Telephone and broadband charges unless otherwise stated or included within the rent.
Cable/Satellite
Both the installation (upon approval from the landlord) and subscription to the relevant suppliers unless otherwise stated or included within the rent.
Television Licence
Payable to the billing authority.
Damages for Contract Breach
Payment for any damages in breach of the tenancy agreement or an agreement between CR Real Estate and a relevant person (tenant, guarantor or person acting on behalf of the tenant).
Other Payments
Any other permitted payments, not included above, under the relevant legislation including contractual damages.
If there is anything you do not understand or if you have any questions regarding any of our fees please raise this with a member of our lettings team by calling 01634 570057
CR Real Estate are part The Ombudsman Redress Scheme and are a member of the Propertymark Client Money Protection Scheme. Tenant deposits are protected by the Tenancy Deposit Scheme. For more information please contact us.
Client Money Protection is provided by: Client Money Protect. Scheme Ref: CMP004209
Independent redress is provided by: The Property Ombudsman (TPO). Membership Number: E01687
