Information for Tenants

One week’s rent. 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 of less than £50,000 per year):

Five weeks rent. This covers damage of defaults on the part of the tenant during 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.

No Deposit Scheme – Deposit Replacement Memberships are available with OME for as little as a £5 monthly subscription + £30 set up fee per household. Subject to credit checks.

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.

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 and 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 for the time taken replacing lost key(s) or other security device(s)

£50 per replacement tenant or any reasonable cost incurred if higher. This covers 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.

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.