Tenant Fees

We’ve listed below the fees that you may be liable to pay during the letting of a property with Newcombe Residential;

Holding Deposit (per tenancy)

One week’s rent. This is to reserve a property. Please note: This is non-refundable 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 5 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Tenancy Deposit

Five weeks’ rent (per tenancy. Rent under £50,000 per year).
or
Six weeks’ rent (per tenancy. Rent over £50,000 per year and Company Lets). 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 for 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 or any other persons requiring keys will be charged to the tenant.

Variation of Contract (Tenant’s Request)

£50 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Tenant (Tenant’s Request)

£50 (inc. VAT) per replacement tenant. To cover the costs associated with taking the landlord’s instructions, referencing the new tenant, 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 end their contract early, they shall be liable to pay the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the property is re-let. These costs will be no more than the maximum amount of rent outstanding on the tenancy.