Tenant Fees

Once you’ve found a property that you’d like to rent we can secure it for you with a Holding Payment, which is equivalent to one-week’s rent.

Once paid, this is non-refundable if you then decide not to proceed.

First Month’s Rent* + a Security Deposit** – the Holding Payment = the Full Amount required in cleared funds, on move-in date

*or part thereof, depending on the move-in date/property

** equivalent to 5 week’s rent (refundable at the end of the tenancy, subject to the property being left in a suitable condition)

The money must be paid in either cash, debit card or by bankers draft.

Unfortunately, we do not accept credit cards, business debit or credit cards, or personal cheques.

• Unpaid rent: is subject to interest payments at 3% above the Bank of England Base Rate from the rent due date until it is paid in full. Please note – interest  will not be levied until the rent is more than 14 days in arrears.
• Lost keys/other devices: Tenants are liable for the cost of replacing any lost key(s) or other security device(s).

If the loss results in locks needing to be changed, the 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, then there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

• Variation of contract at Tenant’s request: £50 (inc. VAT) per agreed variation. This covers the costs associated with taking Landlord’s instructions as well as the preparation and execution of new legal documents.
• Change of sharer at tenant’s request: £50 (inc. VAT) per replacement tenant or any reasonable costs 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 of new legal documents.
• Early termination at tenant’s request: should you wish to leave your contract early, you will 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.

Morgan Associates are part of the National Federation of Property Professionals Client Money Protection Scheme through our membership of ARLA (The Association of Residential Letting Agents)