LB Property Management Solutions Ltd
Tenancy Fees and payments in relation to Residential Agency – AST Agreements
FEES CHARGEABLE TO A TENANT FROM 1ST JUNE 2019: (does not apply to tenancies which commenced prior to 1st June 2019)
- 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
FEES CHARGEABLE TO A TENANT which commenced prior to 1st June 2019 and will only be chargeable up until 31st May 2020 – subject to the AST Tenancy Agreement
All charges are INCLUSIVE of VAT at the standard rate (20%)
- Riders or Addendums – £60
- Company Agreements – £240
- Agency Fee First Application – £180
- Agency Fee Subsequent Applications – £60
- Overpayments presented to Agent’s bank returned – 1.2% of overpayment (£6.00 Minimum)
- New agreement fee for the same property (inc My Deposit fee) – £180
- Guarantor Agreement Fee – £90
- New Agreement Fee for Different Property – £144
- New Agreement fee for the same property where one Tenant vacates – £90
- Organising General Repairs through Tenant fault or damage – 12% of cost of works
- Nominal Organising Fee – £18
- Charge for any correspondence to Tenant(s) concerning breaches of the tenancy agreement – £30
- Charge for any correspondence to Tenant(s) for reminders or arrears – £30
- Call-out charge to the property (eg: lost keys) – £90 & £90 per hour thereafter
