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Tenant Fees

In accordance with the Tenant Fees Act 2019, the following charges may apply to tenants.

Holding Deposit (per tenancy)

One week’s rent
This is to reserve a property. The holding deposit may be withheld if a tenant withdraws from the tenancy, fails a Right to Rent check, provides false or misleading information, or does not sign the tenancy agreement within the agreed timeframe.

Security Deposit (per tenancy)
Five weeks’ rent where the annual rent is below £50,000
Six weeks’ rent where the annual rent is £50,000 or above
This deposit covers damage or defaults during the tenancy and is protected in a government approved deposit scheme.

Late Rent
Interest may be charged on late rent at 3% above the Bank of England base rate from the rent due date until paid. This will not be applied until the rent is more than 14 days overdue.

Lost Keys or Security Devices
Tenants are responsible for the actual cost of replacing lost keys or security devices. If locks need replacing, the cost of the locksmith, new locks and replacement keys will be charged.

Variation of Contract (Tenant Request)
£50 including VAT per agreed change.
This covers the preparation of new legal documentation and updating the tenancy agreement.

Change of Sharer (Tenant Request)
£50 including VAT per replacement tenant or reasonable costs if higher.
This includes landlord approval, referencing, Right to Rent checks and preparation of new tenancy documentation.

Early Termination (Tenant Request)
If a tenant wishes to leave the tenancy early, they will be responsible for the landlord’s costs in re-letting the property and any rent due until a new tenancy begins. These costs will not exceed the remaining rent due under the tenancy.

HNC Lettings & Property Management are members of Propertymark Client Money Protection and The Property Ombudsman redress scheme.