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Wright & Co.
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Tenant Fees

Once you have found a property through Wright and Co Estate Agents we will send you our application pack to complete. These forms will help explain the next stages of your application and we will require some personal information and forms of identification at this stage of the process.
There are some permitted payments relating to the application process and we have listed these below:

Holding Deposit

One weeks rent

In some cases, we will ask to take a holding deposit to secure a property for an applicant. This holding deposit is per property, not per person applying, and 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

Rent under £50,000 per year will be five weeks of the annual rent total calculated as: Rent x 12 ÷ 52 x 5 = Security Deposit Total

This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).

Rent over £50,000 per year will be six weeks of the annual rent total.

Unpaid Rent

Interest at 3% above the Bank of England Base Rate from the 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 and will be chargeable from day 15.

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 reasonable costs charged for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request) per agreed Variation.

£50 (inc. VAT)

To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request)

£50 (inc. VAT)

Per replacement tenant or any reasonable costs incurred if higher. To cover 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.

Utility Charges

During the tenancy you will be responsible for the payment to the relevant provider for the utility charges, (gas, electricity, water), council tax, communication charges (including satellite, internet and telephone charges) TV licence.

Early Termination (Tenant’s 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.

Wright and Co Estate Agents is a member of Client Money Protect (CMP) scheme, and a member of The Property Ombudsman Scheme which is a redress scheme.