Tenants’ Fees
Lettings fees
The lettings fees stated only apply to Assured Shorthold Tenancies (AST) entered into on or after the 1st June 2019 through Sophie Yates & Associates. .
Prior to a tenancy starting:
Holding Deposit: A maximum of 1 week’s rent per tenancy application.
Prospective applicants will be required to pay a Holding Deposit to Sophie Yates & Associates equivalent to a maximum of 1 week’s rent. Once the Holding Deposit has been received, Sophie Yates & Associates will suspend marketing of the rental property for a period of 15 calendar days subject to referencing commencing promptly. Upon successful references being completed ‘acceptable’ and the tenancy being confirmed by Sophie Yates & Associates, the holding deposit paid will then contribute towards the first month’s rental payment.
Rent: Equivalent to 1 month’s rent.
It is a requirement to transfer the equivalent of 1 month’s rent to Sophie Yates & Associates to be paid in cleared funds prior to commencement of a tenancy. Where a holding deposit has been taken the holding deposit will contribute towards the deposit payment.
Damage & Dilapidation Deposit: Equivalent to a maximum of 5 week’s rent.
To be held and protected in line with Government guidance.
Client Money Protection (CMP) & Redress
Sophie Yates & Associates is a members of NAEA Propertymark. Sophie Yates & Associates is also member of The Property Ombudsman which is a redress scheme.
The lettings fees stated only apply to Assured Shorthold Tenancies (AST) entered into before the 1st June 2019 through Sophie Yates & Associates.
Transition Period: For existing tenancies (those signed before 1 June 2019) there is transitional 12-month period ending 31 May 2020. During this time, Sophie Yates & Associates can continue to charge fees written into existing tenancy agreements.
See Tenant Fees Act 2019: Guidance for tenants
Amendment fee: Contract negotiation, amending and updating terms and updating your tenancy agreement during your tenancy £90 inc VAT
Renewal fee: contract negotiation, amending and updating terms and arranging a further tenancy and agreement £120 inc VAT
Periodic fee: tenants share £48 inc VAT
Check out fee (tenants share): Attending the property to undertake an updated schedule of condition based on the original inventory and negotiating the repayment of the damage and dilapidation deposit. £150 inc VAT
Future Landlord reference: collating information and preparing a reference for a future landlord or letting agent £18 per reference request inc VAT
Unpaid rent: interest at 3% above Bank of England base rate from date due 3%
Unauthorised installation of a card meter £60 inc VAT
Failed inspection visit £90 inc VAT
NOTE: In some instances these fees may vary and we would ask that the original tenancy entered into through Sophie Yates & Associates is referred to.
Permitted Payments
As well as paying rent, the following permitted payments will apply to all Assured Shorthold Tenancies entered into on or after the 1st June 2019 through Sophie Yates & Associates.
Rent: Payments of rent as scheduled within the tenancy agreement.
Rent arrears should you fail to pay your rent on time, you will incur a late payment charge of 3% above the Bank of England base rate of the agreed monthly rent from the date the rent is due.
Lost key/s (security devices) in the event you lose your keys or any other security devices such as alarm or door entry devices, you will be responsible for meeting all associated replacement costs. This includes the cost of the attending contractor and replacement keys/security devices. Sophie Yates & Associates also reserve the right to apply a discretionary administration charge capped at no more than £15 per hour to cover our time in dealing with an emergency situation.
Changes to an existing Assured Shorthold Tenancy agreement if you wish to make amendments to the terms of your Tenancy Agreement after the tenancy has started, then all requests need to be made in writing to Sophie Yates & Associates, once in receipt we will discuss any potential changes with the landlord. Following approval of the amendments by the landlord. Sophie Yates & Associates will then make the relevant amendments, issue new paperwork for signature and apply a charge of £50 inc VAT per amendment. You will be required to pay these charges once the landlord has agreed in writing to the amendments and before Sophie Yates & Associates completes all associated paperwork.
Early release in the event you request to end your fixed term Assured Shorthold Tenancy early, Sophie Yates & Associates will need to receive all requests in writing, we will then discuss your request with the landlord. It is at the landlord’s discretion to agree to an early release and you will be required to meet your contractual obligations to pay your rent and all related utilities until we communicate in writing otherwise. You will also be required to pay reasonable costs incurred by the landlord to re-market the property, find suitable replacement tenants and progress all associated tenancy paperwork until new tenants have moved in.
Tenants will also be responsible for meeting the following costs during the tenancy unless specified otherwise:
Utilities: gas, electricity, oil, council tax and water including sewage etc.
Telephone and internet: all associated costs linked to the installation and relevant services
Television: all costs linked to the installation, licensing and relevant satellite or cable services.
