Tenant Fees
Tenants’ Guide to Charges
Knightsbridge Prime Property is a member of CMP Client Money Protection Scheme. Knightsbridge Prime Property is also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk.
Permitted Charges in accordance with the Tenant Fee Act 2019
| Under the terms of the Tenant Fee Act if you enter into an ASSURED SHORTHOLD TENANCY, payments which may apply will be as follows: | ||
| First month’s rent | in advance | |
| Tenancy Deposit | 5 or 6 weeks depending upon the rental amount | |
| Holding Deposit | maximum one week’s rent | |
| Early termination when requested by the tenant |
A charge not exceeding the financial loss experienced by the landlord | |
| Utilities, communication services, TV licence and council tax | ||
| Default charge for late payment of rent |
Limited to interest charged at 3% above Bank of England base rate, when rent is more than 14 days late | |
| Default charge for replacement of lost key or security device | equivalent to cost incurred | |
| Changing the tenancy documents after the commencement of the tenancy | £41.67 excl. VAT | £50 inc. VAT |
| A Non Housing Act Tenancy is formed when one of the following criteria is in place: | ||
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| Under the terms of the Tenant Fee Act if you enter into a NON HOUSING ACT TENANCY, payments which may apply will be as follows: | Exclusive of VAT | Inclusive of VAT |
| Tenancy Setup Fee drafting and execution of tenancy agreement if supplied by us, collecting and holding the Security Deposit as Stakeholder, issuing protection certificates, if applicable, individual or company referencing | £325 |
£390 |
| Check-in Fee checking into the property and reviewing inventory | minimum of £109 | minimum of £130.80 |
| Enhanced Reference Fee (per person or company) | £50 | £60 |
| Tenancy Continuation negotiating and drafting extension to the fixed term | £125 | £150 |
| Change of Sharer - Deed of Assignment | £100 | £120 |
| Early Termination - Deed of Surrender | £125 | £150 |
| Late payment of rent |
Interest will be charged at 3% above the Bank of England base rate | |
| If there are any guarantors for the tenancy: | ||
| Guarantor Referencing Fee inc verification of details, credit check, employer and accountant reference (if available) | £50 per guarantor | £60 per guarantor |
| Deed of Guarantee Fee drafting Deed, negotiating clauses and executing a document | £41.67 | £50 |
Please Note: The Initial Monies must be paid by Bank Transfer. We are unable to accept cash.
