Find Tenant Information, Fees & Charges in Wellingborough
Tenant Fees post 1st June 2019
In addition to paying the rent, you may also be required to make the following payments permitted under the Tenant Fees Act 2019.
Before the tenancy starts
(payable to Belvoir Wellingborough ‘the Agent’)
Holding Deposit: Maximum of the equivalent to 1 weeks rent.
Deposit: Maximum of the equivalent to 5 weeks rent.
During the tenancy
(payable to the Agent)
Payment of interest for the late payment of rent at a rate of 3% over the Bank of England base rate calculated from the date the payment was due up until the date the payment is received.
Other permitted payments
Any other permitted payments, not included above, for breaches of contract or under the relevant legislation including contractual damages. These may include reasonable costs or losses incurred for loss of keys, security devices and changes to the tenancy agreement or early termination, if the Landlord agrees they can be made, up to the permitted limits.
Tenant Fees Schedule
| Fee Type | Description |
|---|---|
| Holding Deposit (per tenancy) | One week’s rent. This is to reserve a property. Note: This will be withheld if any relevant person (including guarantors) withdraws from the tenancy, fails a Right-to-Rent check, provides materially false or misleading information, or fails to sign the tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other agreed deadline). |
| 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. |
| Security Deposit (per tenancy, rent of £50,000 or over per year) | Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Unpaid Rent | Interest at 3% above the Bank of England Base Rate from the rent due date until paid. Note: This will not be levied until the rent is more than 14 days in arrears. |
| Lost Key(s) or Security Device(s) | Tenants are liable for the actual cost of replacing lost keys or other security devices. If locks need to be changed, tenants will be charged for the locksmith, new lock, and replacement keys for all parties. An additional charge of £15 per hour (inc. VAT) may apply for time spent replacing these items. |
| Variation of Contract (Tenant’s Request) | £50 (inc. VAT) per agreed variation. Covers costs for landlord’s instructions and preparation/execution of legal documents. |
| Change of Sharer (Tenant’s Request) | £50 (inc. VAT) per replacement tenant or reasonable higher costs. Covers landlord’s instructions, new tenant referencing, Right-to-Rent checks, deposit registration, and legal documentation. |
| Early Termination (Tenant’s Request) | Tenant is liable for the landlord’s re-letting costs and rent until the start of a new tenancy. Costs will not exceed the remaining rent due on the tenancy. |
If you have any questions on our fees, please ask a member of staff.
Tenant Protection
Belvoir Wellingborough is a member of Propertymark, which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on our website or by contacting us directly.
We hold Client Money Protection through Propertymark.
Wellingborough Team
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