Ensuring you know exactly what it costs to rent through HP
Ensuring that you experience no hidden costs.
The only payments you can expect in connection with a tenancy are:
- the rent
- a refundable tenancy deposit capped at no more than five weeks’ rent. This will be held in a Deposit Scheme as security for the performance of all obligations in connection with the tenancy for example in case of any damage at the end of the tenancy or a charge to an independent company providing a deposit alternative service, if offered.
a refundable holding deposit (to reserve a property) capped at no more than one week’s rent. We can retain this holding deposit if you:
Provide false or misleading information which reasonably affects our decision to let the property to you (i.e. calls into question your suitability as a tenant, this can include your behaviour in providing the false or misleading information)
- Fail a right to rent check
- Withdraw from the proposed agreement (decide not to let) or
- Fail to take all reasonable steps to enter an agreement (i.e. responding to reasonable requests for information required to progress the agreement) when the landlord and/or agent has done so.
Where we wish to retain the holding deposit, we will set out in writing the reason for this within 7 days of deciding not to enter the agreement or the ‘deadline for agreement’. The ‘deadline for agreement’ for both parties is usually 15 days after a holding deposit has been received by a landlord or agent (unless otherwise agreed in writing).
4. payments to change the tenancy when requested by the tenant (e.g. a change of sharer or permission to keep pets on the property) capped at £50 including VAT.
5. payments associated with early termination of the tenancy, when requested by the tenant and agreed by the landlord. This would not exceed the financial loss that a landlord will suffer in permitting, or reasonable costs that have been incurred by the agent in arranging for, the tenant to leave early.
6. payments in respect of utilities, communication services, TV licence and council tax
7. a default fee for late payment of rent and replacement of a lost key/security device.
Client Money Protection; greater security for you
All letting agents are required to comply with The Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018.
Client Money Protection (CMP) is an insurance product for letting agents. CMP protects the rental money that a tenant pays their letting agent to pass onto a landlord.
As part of our memberships of the NAEA propertymark & ARLA propertymark we are automatically enrolled in their CMP scheme.
Further information can also be found here https://www.tpos.co.uk/members/client-money-protection
The CMP scheme conduct and membership rules can be found here: https://www.propertymark.co.uk/working-in-the-industry/member-requirements/
HP have done it once again!
Homes Partnership Estate agents are proud to have won 8 estate agency awards over the last 4 years! Thank you to all our clients that voted for us.
Homes Partnership News
Adam Charlton, Director at Homes Partnership, explains the recent announcement of further changes to the notice periods when ending a tenancy in the UK. The
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