Mainstay Lettings is also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk. Copies of the TPO Code of Practice plus our complaint handling procedure are available from our offices or the link above.
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 £50.00 inc vat
A Non Housing Act Tenancy is formed when one of the following criteria is in place:
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:
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 £195.00
Check-in Fee checking into the property and reviewing inventory minimum of 160.00 Enhanced Reference Fee (per person or company) £65
Tenancy Continuation negotiating and drafting extension to the fixed term £120
Change of Sharer - Deed of Assignment £195
Early Termination - Deed of Surrender £125
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 document
|Lettings only||7.2% (6% + VAT)|
|- Renewals on 1st 2 years'||7.2% (6% + VAT)|
|- Continuation period after renewals||7.2% (6% + VAT)|
|Per property||8% (9.6% inc VAT)|
|Additional Property Inspection including mail & heating||£120|
|Carbon Monoxide Alarm Installation||£75 plus
£20 per alarm
|Combined Gas and Portable Appliance Test||£204|
|Court Appearance (charged per day or part thereof)||£300|
|Deposit Protection Registration||£50|
|Energy Performance Certificate||£118.80|
|Gas Safety Certificate||£150|
|HMRC Return for Non-Resident Landlords||£145|
|Income &Expenditure Report||£145|
|Legionella Risk Assessment||£120|
|Licensing Application Service Fee||£299|
|Portable Appliance Test||£150|
|Smoke Alarm Installation||£75 plus
£20 per alarm
|Smoke &Carbon Monoxide Test (on start of Tenancy)||£60|
|Works over £1000 supervision fee (optional)||8% (9.6% inc VAT) of invoice total|