Tenancy Info


Client Money Protection Scheme provided by Propertymark.

Redress scheme provided by The Property Ombudsman.

Permitted Charges in accordance with the Tenant Fee Act 2019.

NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019;

Holding Deposit (per tenancy) — One week’s rent.
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

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 Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s).
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request) — £50 (inc. VAT) 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 (inc. VAT) 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 to 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.

Pillars Estates Ltd is a member of and covered by the Propertymark Client Money Protection Scheme.

Pillars Estates Ltd is also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk. Copies of the TPO Code of Practice plus our complaint handling procedure are available at our office.

For more information regarding our fees, CMP or Redress scheme please call us on 01483 220 888.

NON-HOUSING ACT TENANCIES (NHA)

Pre-Tenancy Application Charge (PTAC) – Equivalent of one weeks rent or £1000 (which ever is greater), which will be put towards your first rent due on completion of the tenancy. If you withdraw from the proposed tenancy for any reason the Pre-Tenancy Application Charge (PTAC) will is non-refundable.

Tenancy paperwork – £456

Deed of guarantee – £120

Company reference checks – £120 per reference

Deposit – Usually equivalent to six weeks rent or if you have pet this will usually be equivalent to eight weeks

Call out services (inc out of hours) – £60 per hour and/or the contractors invoice where your actions or lack of actions result in us or a contractor attending the property to remedy the situation

Last minute cancellation or no cancellation of pre-arrange visits. – £60 per visit and any contractor invoice

Hourly rate – £60 plus any replacement costs if we or the landlord have to replace any damaged or broken items, or return any fixtures or fittings to their original position, as per the inventory

Any overseas payment charges – £30 per payment

Late/unpaid/returned rent payments – £60 late payment charge and 3% above the base rate of Bank of England per annum, calculated daily

Change of sharer – £375

Additional sharer (at the same time) – £75

Renewal negotiation – £180 for each renewal. If additional referencing is required £45 per reference

Any tenancy agreement specially negotiated clauses agreed after the tenancy agreement has been signed – £180

Early termination – All costs, fees and charges incurred by the landlord for allowing early termination including the agent’s existing or re-letting fees

Stamp Duty Land Tax – This tax is payable on tenancies where the rent exceeds £125,000

For more information regarding our fees, please don’t hesitate to call Pillars on 01483 220 888.