Holding Deposit equivalent to 1 weeks Rent (This is forfeitted if Tenant pulls out, Tenant fails Right To Rent checks, Tenant provides false or misleading information, Tenant does not enter into Tenancy Agreement within 15 days). Holding Deposit, if Tenant is successfully referenced, goes towards first Rent payment.
Security Deposit of up to 5 weeks Rent held at the Deposit Protection Service (DPS) which can be used and claimed by Agent/Landlord against damages or Tenant default charges from Security Deposit.
Tenant default charges:
a) Rent Arrears / late payments after 13 days at 3.00% above Bank of England Base Rate
b) Lost / Replacement Keys - Cost of key replacement or approved lock-smith actual charges including call-out
c) Any variation / change to Contract £50.00 inc VAT
d) Surrender of Tenancy - Actual cost to Landlord for new Tenant acquisition costs (see Our Services) plus all outstanding Rent for remainder of Tenancy.
e) Damages Provisions (e.g. Blocked Toilet(s), drains, broken sanitary ware, sinks, showers, flooding, fire, entry/exit doors, windows, bedroom/fire doors, furniture etc)