Cauldwell Property Services is a member of Propertymark and covered by the Propertymark Client Money Protection Scheme. Cauldwell is also a member of a redress scheme provided by The Property Ombudsman.
Assured Shorthold Tenancies (ast’s)
Permitted payments and tenant protection information
As well as paying the rent, you will also be required to make the following permitted payments.
Permitted payments for properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:
- Holding deposits (a maximum of 1 week's rent);
- Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for annual rental of £50,000 and above);
- Payments to change a tenancy agreement, £60 inc vat
- Payments associated with early termination of a tenancy (capped at the landlord's loss or the agent's reasonably incurred costs); £540 inc vat
- Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services "telephone, internet, cable/satellite television), TV license;
- Council tax (payable to the billing authority);
- Interest payments for the late payment of rent (up to 3% above Bank of England's annual percentage rate);
- Reasonable costs for replacement of lost keys or other security devices;
- Contractual damages in the event of the tenant's default of a tenancy agreement; and
- Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time.
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For Assured Tenancies, please see the fee list below:
BEFORE YOU MOVE IN
- Set-up Fees (Tenant’s Share): £420 (inc. VAT) per tenancy. Referencing for up to two tenants (ID checks, Right-to-Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement. The drawing up and issue of a tenancy agreement and where applicable the check in and out of a tenancy (management dependant)
- Additional Tenant Referencing Fees: £60 (inc. VAT) per tenant. As Set-up Fees above for additional tenants
- Guarantor Fees: £60 (inc. VAT) per guarantor. Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
- Permitted Occupier Fees: £0 (inc. VAT) per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
- Pet Deposit: Either a rental increase per month or Additional Security Deposit to cover the added risk of property damage. This will be protected with your security deposit in government- authorised scheme and may be returned at the end of the tenancy.
DURING YOUR TENANCY
- Renewal Fees (Tenant’s Share): £60 (inc. VAT) per tenancy - Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
- Variation of Contract Fees: £60 (inc. VAT) per request - To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
- Change of Sharer Fee: £120 (inc. VAT) per replacement tenant. 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.
ENDING YOUR TENANCY
- Check out Fee (Tenant’s Share): included in the set up fee but may depend of the management service. Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
- Early Termination: £540 (inc. VAT) per tenancy plus all rent due under the tenancy until the start date of the replacement tenancy. Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
- Future Landlord Reference Fee: £0 (inc. VAT) per request. Collating information and preparing a reference for a future landlord or letting agent.
Cauldwell are members of the Property Ombudsman, Propertymark (letting regulators) and have Client Money Protection insurance with Propertymark
Please note that lettings agents are required by law to publish on their websites information for potential tenants about relevant fees, redress schemes and client money protection schemes (including the names of those schemes). Relevant fees must also be published on third party websites, such as Rightmove. For properties to rent in England and Wales, details of the agent's membership of any redress scheme and client money protection scheme must also be published with their fees on Rightmove. It is the agent's responsibility to ensure that all relevant information is provided to Rightmove and is up to date and accurate. If the relevant information does not appear here, the agent may have included it within the property description.
