Tenant Fees
Before you commit to a property, we explain the tenancy terms and the payments you will be asked to make. The arrangements depend on the type of tenancy, so we set out non-assured tenancies and assured periodic tenancies separately below. This information relates to lettings in England.
Non-Assured Tenancies
These include company lets and tenancies with annual rent above £100,000. Other arrangements may also fall outside the assured tenancy regime. We confirm the appropriate tenancy type and terms for each letting; rent alone does not determine its status.
Reservation fee
Equivalent to two weeks’ rent, payable once an offer has been accepted. No further viewings with other parties take place for two weeks while the proposed tenancy is finalised. On signing the tenancy agreement, the payment is credited towards the security deposit.
Security deposit
The amount and the arrangements for holding and returning the deposit are agreed and recorded in the tenancy agreement.
Rent
The amount, payment dates and any rent payable in advance are set out in the tenancy agreement.
Reservation terms
The reservation remains subject to contract, satisfactory references, signed tenancy documentation, cleared funds and vacant possession. It does not guarantee that a tenancy will be granted.
If the landlord withdraws from negotiations, the reservation fee is refunded in full. If references are unsatisfactory, a deduction of up to £300 including VAT may be made for reasonable expenses incurred, in accordance with the agreed reservation terms. The refund and withdrawal provisions applicable to your application will be provided in writing before payment.
Deposits and other obligations
Non-assured deposit arrangements differ from those for assured periodic tenancies. We will explain how your deposit will be held and the process for agreeing its return. Utilities and other responsibilities are set out in the tenancy agreement.
Assured Periodic Tenancies
Where the letting is an assured periodic tenancy, the Tenant Fees Act 2019 limits the payments that may be required. These tenancies run on a rolling basis. A qualifying tenancy at exactly £100,000 a year may still be assured.
Holding deposit
One week’s rent per tenancy. With your agreement, this is applied towards the first rent payment or security deposit. Otherwise it is repaid in accordance with the statutory rules.
Security deposit
Five weeks’ rent where annual rent is below £50,000; six weeks’ rent where annual rent is £50,000 or more. The deposit is protected in an authorised tenancy deposit scheme.
Rent in advance
For a new monthly tenancy, no more than one month’s rent may be required after both parties have signed and before the tenancy begins. For weekly rent, the corresponding maximum is 28 days’ rent. We do not request or accept rent before both parties have signed.
Late rent
Where provided for in the tenancy agreement, interest at no more than 3% above the Bank of England base rate on the overdue amount. This applies only once rent has been outstanding for at least 14 days and is calculated from the original due date.
Lost keys or security devices
Where provided for in the tenancy agreement, the reasonable costs of replacement, including necessary locksmith work. Written evidence of the costs will be provided.
Changes requested by the tenant
£50 including VAT for an agreed variation, assignment or novation, or the reasonable costs incurred if higher. Any higher amount will be explained and supported.
An earlier end requested by the tenant
Where you ask to leave without the required notice, any payment to the landlord is capped at the loss suffered and any payment to the agent at reasonable termination costs. No fee is charged simply for ending the tenancy on valid notice.
Utilities and other bills
Council tax, utilities, communication services and a television licence, where payable under the tenancy agreement and permitted by law.
Holding deposit refunds
The normal deadline for entering into the tenancy is 15 calendar days after the holding deposit is received, unless another deadline is agreed in writing. We repay or, with your agreement, apply the holding deposit within the applicable statutory seven-day deadline.
A holding deposit may be retained only in circumstances permitted by law. These can include withdrawal, a disqualifying Right to Rent result, materially false or misleading information affecting suitability, or failure to take reasonable steps to enter into the tenancy by the agreed deadline while the landlord and agent have taken reasonable steps. An unsuccessful reference alone does not justify retention. Where retention is permitted, written reasons are given within the required seven-day period.
For assured periodic tenancies, we protect the deposit and supply the prescribed deposit information within 30 days of receipt.
Client money and professional protection
Alexander Millett International is a trading name of Yeoman Safe Limited. We are members of the Propertymark Client Money Protection scheme and The Property Ombudsman, membership number T04617. We are also members of the Tenancy Deposit Scheme, membership number G13562. Deposit arrangements depend on the tenancy type and are confirmed in writing.