Below is a comprehensive list of the fees associated with renting a property from us at Letting Genie. If you have any questions relating to these fees, please do not hesitate to contact us.
Please note, all fees are inclusive of VAT, where applicable.
Holding Deposit (per tenancy)
One week’s rent. This reserves a property and is payable upon submission of our online tenancy application. This deposit will be off-set against the first month’s rent payment amount due when you move into the property to start your tenancy. Please note, this will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy application process, fails a right-to-rent check, provides materially significant false or misleading information, or fails to sign the tenancy agreement (and/ or deed of guarantee) within 15 calendar days (or other deadline for agreement as mutually agreed in writing).
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.
Interest is charged at 3% above the Bank of England base rate from the rent due date until paid in order to pursue non-payment of rent. Please note that this will be charged once the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable for 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 and any other persons requiring keys will be charged to the tenant. If additional 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’s 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 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, and the landlord consents, they shall be liable for 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.
Additional Rent for Pet(s)
If the landlord agrees to pet(s) at the property, an additional rent of £15 per calendar month per free-roaming pet will be payable. This will be agreed with the tenant in advance and prior to a reservation deposit being taken.
Council Tax, Utilities and Communication Services
Tenant(s) are responsible for paying bills in accordance with the tenancy agreement, which could include council tax, utility payments (gas, electricity, water) and communication services (broadband, TV, telephone).
Letting Genie - letting agents for Milton Keynes - call today on 01908 535000