ASSURED SHORTHOLD TENANCIES (AST's)

If you rent a property as an individual and the rent is less than £100,000 per year, your tenancy agreement will be an assured shorthold tenancy (AST).
These are the only charges you would pay:

  • First month's rent
  • 5 week deposit for annual rents of less than £50,000 or 6 week deposit for annual rents of £50,000 or more
  • And the below in tenancy charges if they arise:
    • Costs to replace lost or damaged keys/locks
    • Interest on late rent payments (calculated at 3% above the Bank of England base rate) after 14 days late
    • The landlords financial losses if you surrender a tenancy earlier than you are allowed to

NON AST TENANCIES OR COMPANY LETS

If you rent a property that is £100,000 or more in annual rent or you rent a property as a company, then the below would apply.

  • First month's rent
  • 6 week deposit
  • £50 inc vat referencing charge (per person or company that is referenced as either a tenant or guarantor)
  • £240 inc vat tenancy charge
  • Check in charge which depends on the size of the property (for example a two bed furnished apartment is between £170 and £200)
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