Tenant Fees

Permitted Payments & Tenant Fees

At Bates & Co Estate and Letting Agents, we are committed to transparency with all fees associated with renting a property. Below is a clear breakdown of any permitted payments that may apply during a tenancy.

Holding Deposit (Per Tenancy)

Amount: One week’s rent This payment reserves the property while referencing and agreement preparations are carried out. Please note: The holding deposit may be retained if any relevant party (including guarantors):

• Withdraws from the tenancy

• Fails a Right to Rent check

• Provides false or misleading information

• Fails to sign the tenancy agreement (and/or guarantor agreement) within 15 calendar days, or another deadline agreed in writing

Unpaid Rent

Interest will be charged at 2.5% above the Bank of England base rate from the rent due date until full payment is received.

Note: Interest is only applied when rent is more than 14 days in arrears.

Variation of Contract (At Tenant’s Request)

Fee: £50 (including VAT) per agreed variation Covers the cost of obtaining landlord consent and preparing updated legal documents.

Early Termination (At Tenant’s Request)

If you wish to end your tenancy early, you will be liable for:

• The landlord’s reasonable costs of re-letting the property - £450.00 (including VAT)

• Rent due until a replacement tenancy begins

Note: These costs will not exceed the total remaining rent due under the agreement.

Security Deposit (Per Tenancy)

Rent under £50,000 per year: Five weeks’ rent

Rent £50,000 or above per year: Six weeks’ rent

This deposit is held to cover any damage or breaches of the tenancy agreement by the tenant.

Lost Key(s) or Security Device(s)

Tenants are responsible for the actual cost of replacing any lost key(s) or security device(s). Costs will vary depending on key or device required. If lock replacement is required, costs will include:

• A locksmith

• A new lock

• Replacement keys for all relevant parties (tenant, landlord, managing agent etc.)

If additional time is needed to resolve the issue, a charge of £15 per hour (including VAT) may apply.

Drafting Supporting Documents for Universal Credit or Housing Benefit Claims (At Tenant’s Request)

Fee: £50 (including VAT) per letter

This covers the preparation of written confirmation or supporting letters required for Universal Credit or Housing Benefit claims, tailored to your individual tenancy circumstances.

If you have any questions about these fees or need clarification, please contact our team and we’ll be happy to assist.