The Tenant Fees Act 2019
A landlord or agent cannot require you (or anyone acting on your behalf or guaranteeing your rent) to make certain payments in connection with a tenancy in England. They cannot require you to enter a contract with a third party for the provision of a service, for insurance or to make a loan in connection with a tenancy. The only payments in connection with a tenancy that you can be asked to make are called Permitted Payments.
Everbest Properties permitted payments are set out below:
- The rent.
- A refundable tenancy deposit of one months rent which will be protected by The DPS.
- A refundable holding deposit to reserve a property of one weeks rent.
- Payments to change the tenancy when requested by tenant, £50 + VAT per tenant change or reasonable costs if higher.
- Payments associated with early termination of the tenancy, when requested by the tenant, £50 + VAT per tenant change or reasonable costs if higher.
- Payments in respect of utilities, communication services, TV licence and council tax.
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Default fee on late payment of rent. - For rent payments that are over two weeks late. The fees can be up to 3% plus the Bank of England base interest rate.
Here's an example: The tenant is 60 days late for one £1,500 rent payment. Assume the base rate of interest is 0.75%, so you can chase the tenant for the outstanding rent plus a fee of 3.75% of outstanding rent, pro rata for the 60 days. 3.75% of £1,500 is £56.25. 60 days is 60/365 of the yearly rate. Therefore, to get the pro rata amount, we multiply £56.25 by 60/365, which is £9.25.
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Replacement of a lost key/security device giving access to the housing, where required under a tenancy agreement.
£10 + VAT per yale key, £15 + VAT per motise key, if security key from a block apartment, depends on the quotation provided from block management company.
Qualifying
Check you qualify for this property before booking your viewing:
You must declare any bad credit, CCJ'S, IVA or bankruptcy orders.
Tenant/guarantors' monthly income must be at least earn 2 -3 time of monthly shared rental amount.
If you withhold any information which could lead you to fail our credit checks, and subsequently pay a holding deposit on a property, Everbest Properties can under the Tenant Fees Act withhold your deposit and advertise the property.
To secure a property you will need to pay a holding deposit equivalent to one weeks rent.
If you do not sign a tenancy agreement within 14 days of payment we can withhold your holding deposit and remarket the property.