As well as paying the rent as stated in your Tenancy Agreement, you may also be required to pay the following permitted payments.
Holding Deposit: equal to 1 weeks rent and refundable against your first month's rent. i.e. you pay your first month's rent less 1 week. This is paid to remove the property from the lettings market whilst referencing is undertaken and a tenancy agreement is signed. You will be provided with the terms under which the holding deposit is paid, prior to you making payment.
General terms are the right to withhold the holding deposit for providing false or misleading information and/or failing to enter into the tenancy agreement within the Deadline for Agreement.
Unpaid Rent: interest is charged at 3% above the bank of England base rate from the date the rent is due until the date that the rent is paid. This will not be levied until the rent is more than 14 days in arrears.
Lost Keys and/or other security devices: Tenants will be liable for the actual cost of replacing any lost keys or security devices. If the loss results in locks needing to be changed the costs of the locks, keys/security devices and locksmith costs will need to be paid for by the tenant including supplying the landlord and/or the Agent, and/or any other relevant person, the new keys/devices. If additional time is incurred by the landlord or Agent or their representative there will be a charge of £15 per hour.
Variation of contract (tenant's request): £50 per hour, per agreed variation to cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents.
Change of sharer (tenant's request): £50 per hour, per replacement tenant or any reasonable costs incurred if higher to cover the costs associated with taking landlord's instructions, new tenant referencing and Right to Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early termination (tenant's request): Should the tenant wish to leave their contract early, they shall be liable for the landlord's costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Client Money Protection
Franklin Residential is a member of the Money Shield Client Money Protection (CMP) Scheme, follow the link to read the Money Shield Rules.
A copy of our Client Money Protection Certificate is here.