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Hove Lets Tenancy Info

Tenant Information

Holding Deposit (Per tenancy)

One weeks’ rent - this holding deposit is refundable once the tenancy agreement is signed or may be deducted from any overall move in monies.

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 of 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 3% 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 to 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 costs of a locksmith, new lock and replacement keys for the tenant, landlord and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there may be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request)

£50 (inc VAT) per agreed variation. To cover the costs associated with taking the landlords instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request)

£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referening 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 rent outstanding on the tenancy.

Tenant protection

Hove Lets is a member of CMP, which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme.

AND supplied a UK home owner guarantor. Please call Hove Lets to discuss these options.

Early Release From Your Tenancy

In rare circumstances you may wish to be released from your contract early, please note that this will be the landlord’s decision and he has no obligation to release you until the contract expires. If the landlord does decide to let you leave early please note that there may be certain conditions attached, including:

  • The tenant will be liable for rent until a new tenant is found and moved in - this will be paid monthly, in advance, as the rent is due – any overpaid rent will be refunded to you once the new tenant has moved in.
  • The tenant will pay any additional charges the landlord may be required to pay in order to remarket the property.

If you find yourself in a situation where you wish to be released from your contract early please contact Hove Lets and we will be more than happy to advise you of your next step.

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