LB Property Management Solutions Ltd

Tenancy Fees and Payments in relation to Residential Agency – AST Agreements

FEES CHARGEABLE TO A TENANT:

A REFUNDABLE TENANCY DEPOSIT capped at no more than five weeks’ rent where your total annual rent is less than £50,000, or six weeks’ rent where your total annual rent is £50,000 or above
A REFUNDABLE HOLDING DEPOSIT (to reserve a property) capped at no more than one week’s rent. This will be taken to reserve the property and used later towards the total Tenancy deposit, if a Tenant’s application is successful. Should it be found that a prospective Tenant provides false or misleading information when providing details which later affects their suitability as a Tenant and the Landlord decides not to proceed with the prospective Tenant, LB Property Management Solutions Ltd are entitled to withhold the holding deposit payment. This is also applicable when a prospective Tenant withdraws from taking on the property, after payment of the holding deposit.
CHANGE THE TENANCY when requested by the tenant, capped at £50 (INCLUSIVE of VAT) or (£41.67 plus VAT), or reasonable costs incurred if higher
EARLY TERMINATION OF THE TENANCY, when requested by the Tenant – The existing Tenant will be liable for the Landlord’s fees for finding a new Tenant as well as the rent until a new Tenant occupies the property. (please see the Landlord’s fee structure for further information) – There will also be a charge of £180.00 (INCLUSIVE of VAT) or (£150.00 plus VAT)
PAYMENTS IN RESPECT OF UTILITIES, COMMUNICATION SERVICES, TV LICENCE AND COUNCIL TAX
A DEFAULT FEE FOR LATE PAYMENTS OF RENT where the payment has been outstanding for 14 days or more, interest will be charged at no more than 3% above the Bank of England’s annual percentage rate for each day it is outstanding
A FEE FOR THE REPLACEMENT OF KEYS/SECURITY DEVICES giving access to the housing