Tenants Letting Fees & Administration Costs are as follows:
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.
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 £20 per hour for the time taken replacing lost key(s) or other security device(s).
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.
Professional Cleaning if required: Approx £150 or above ((dependant on size of property).
Variation of contract (Tenant’s request)
£50 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 (Tenants request)
£50 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 (Tenants 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.
Landlords Commissions Fees and Costs:
Fees for Let Only Service (Sole Agents): Our fees for introducing tenant(s) is 12% of the gross annual rent for the initial term of the contract, due in advance on or before the commencement of the tenancy.
Fees for Let Only Renewals: 10% of the gross annual rent for the first year of renewal
Our fee is payable in the event that the original term is extended for a further period, whether or not the renewal is arranged by us, to either the same tenant(s) or any person(s) or company connected to this tenant should the tenancy be allowed to roll into a statutory period to the same tenants the fee will also be payable for the term that they are in residence invoiced on a 6 monthly basis in advance.
Fees for Let & Managed service (sole agents): 18% of the gross annual rent for the initial term of the contract, due in advance on or before the commencement of the tenancy including all subsequent renewals. Should you no longer require our management service, but the original tenant remains in the property, please refer to our renewal fees. In any event, 60 days’ written notice is required by either Artistry or the owner to terminate the management of the property.
Fees for Let & Managed Renewals: 18% of the gross annual rent for all subsequent renewals. The fee is payable on or before the start date of the extension and is due for all subsequent renewals of the tenancy for any term.
Our fee is payable in the event that the original term is extended for a further period, whether or not the renewal is arranged by us, to either the same tenant(s) or any person(s) or company connected to this tenant.
Example of Fees:
For example; commission fee for Let Only service as the sole agent at a rate of 12% and if your property rents for the agreed amount of £1,300 pcm would amount to £1,872.00.
Additional fees (charged by our contractors):
We do not charge anything on top of what our contractors would charge for work they carry out. The below prices are quotation examples of the most common services used
EPC (depending on property size) From £70
GSC: £50
Registration of deposit with TDS: £120 including VAT
Inventory check in (depending on number of bedrooms) from £120
To serve a section 21 on behalf of landlord (Let only service): £120
Cross check inventory on check out (Let only service): £110
Property inspection (outside of property management service) : £75
Transfer of utilities (Let only service): £60
Post tenancy dispute resolution: £120
In the event that there is a dispute concerning deductions from the deposit and you would like us to attempt to broker an informal resolution on your behalf.
We are members of the Property Redress Scheme.