Sales & Lettings 020 7871 4444

Block & Property Management 020 7812 0480

Tenant Fees

Tenant Fees Schedule

NEW ASSURED SHORTHOLD TENANCIES (ASTs)

SIGNED ON OR AFTER 1ST JUNE 2019

Reservation Fee (per tenancy) One week’s rent.This is to reserve a property. Please note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year)  Five weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent of £50,000 or over per year)  Six weeks’ rent. 
This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent Interest at 0.75% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s) Tenants are liable for the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual cost of a locksmith, new lock and replacement keys for the tenant, landlord or any other persons requiring keys will be charged to the tenant.
Variation of Contract (Tenant’s Request) £50 (incl. VAT) per agreed variation.  To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request) £50 (incl. VAT) per replacement tenant. To cover 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 (Tenant’s Request) Should the tenant wish to leave their contract early, they shall be liable for 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 the rent outstanding on the tenancy.

 

EXISTING ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED BEFORE 1ST JUNE 2019 AND ALL ASSURED TENANCIES

BEFORE YOU MOVE IN

Set-up Fees (Per Tenancy): £180 (incl. VAT) per tenancy. This covers contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.

Reference Fees: £40 (incl. VAT) per person. This covers referencing of the Tenant (ID checks, Right-to Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability). Part of this process is carried out by an approved third party at a cost to Islington Properties Ltd.
Referencing costs for Additional Tenant(s) are £40 per person.

Guarantor Fees: £40 (incl. VAT) per guarantor. This covers credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).

Permitted Occupier Fees: £40 (incl. VAT) per permitted occupier. This covers explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord and adding them to the contract.

Pet Deposit: Additional Security Deposit of 2 weeks’ rent. This covers the added risk of property damage. This will be protected with your security deposit in government-authorised scheme and may be returned at the end of the tenancy.

DURING YOUR TENANCY

Renewal Fees (Tenant’s Share): £120 (incl. VAT) per tenancy. Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.

Variation of Contract Fees£120 (incl. VAT) per request. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer Fee: £120 (incl. VAT) per replacement tenant. To cover 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.

ENDING YOUR TENANCY

Check-out Fees: To attend the property undertake and update the Schedule of Condition based on the original Inventory and to negotiate the repayment of the security deposit:

  • Studio                            £84 per tenancy.
  • One Bedroom                 £96 per tenancy.
  • Two Bedroom                 £108 per tenancy.
  • Three Bedroom              £120 per tenancy.
  • Four Bedroom               £132 per tenancy.

All prices are inclusive of VAT.

Early TerminationAll rent due under the tenancy until the start date of the replacement tenancy. Should the tenant wish to leave their contract early, they shall be liable for the landlord’s costs in re-letting the property. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

OTHER FEES AND CHARGES

Lost Key(s) or other Security Device(s): Tenants will be charged the direct cost incurred to the landlord from an approved provider (lock smith, key cutter, block/building manager) for a like for like replacement.

Out of Hours Service: Hourly rate based on any actual costs incurred. Where actions of the tenant result in the agent (or nominated contractor) attending the property, their time to remedy the situation is charged at the prevailing rate.

Professional Cleaning (if applicable): Cost will vary depending on the number of bedrooms and will be deducted from the Security Deposit and will only be charged where a professional clean is necessary to return the property to the same condition as at the start of the tenancy.

Rent Arrears/Returned PaymentsInterest at 3% above Bank of England Base Rate from Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with unpaid rent.

membership-logo-armaarla-logomembership-logo-tds membership-logo-als lrs-logo-tpo membership-logo-tpo on-the-market-logo-ip

Islington Properties Ltd is an appointed representative (Registration Number 602511) of Clear Insurance Management Ltd, who are authorised and regulated by the FCA - Financial Conduct Authority (Registration Number 307982).