Tenant Fees

Tenant Fees

BEFORE TENANCY

The below items apply to all tenancies:

SECURITY DEPOSIT

A Security Deposit is usually equivalent to approx. 5 weeks rent, however, this may vary and can be equivalent to 6 weeks rent should the annual rental amount exceed £50,000 per annum - the required security deposit is stated on all property listings. The Security Deposit is taken as security against the property and is refundable at the end of tenancy providing that there are no damages to the property or financial losses to the Landlord. All deposits held by John Michael Properties are registered with ‘mydeposits’ in line with current legislation.

ONE MONTHS’ RENT IN ADVANCE
One months’ rent in advance is payable at the commencement of tenancy and is to be maintained throughout the tenancy. The required rental amount varies for each property and is stated on all property listings.

DURING TENANCY

In some circumstances a tenant’s action may cause us to charge for the below items during a tenancy:

TENANCY AMENDMENT

£50 or reasonable costs if higher
Should a tenant request a change to their tenancy agreement (such as a change of sharer, permission to keep pets, permission to sub-let or any other amendment which alters the obligations of the agreement) a charge of £50 will apply. In some circumstances, we may charge additional reasonable costs if the requested changes result in us incurring charges which exceed £50. Any additional reasonable costs will be charged ‘at cost’ and evidence will be available to demonstrate these costs.

EARLY TERMINATION

Reimbursement of reasonable incurred losses

Should a tenant request to end their tenancy before the end of their fixed-term or the end of their notice period, we may seek reimbursement for any reasonable losses incurred as a result of this. These costs could include payment of rental due for the remainder of the agreement and reimbursement for the costs of re-advertising the property and replacement tenant’s references. Any items requiring reimbursement will be charged ‘at cost’ and evidence will be available to demonstrate these costs.

LOSS OF KEYS/REPLACEMENT LOCKS

Should keys/fobs/permits/locks need to be replaced due to a tenant’s action or misadventure, the cost of replacement will be the responsibility of the tenant. Any reasonable charges will be charged ‘at cost’ and evidence will be available to demonstrate these costs.

LATE PAYMENT OF RENT

Interest may be charged on a pro-rata basis on rental payments which are more than 14 days overdue at a rate of 3% over the Bank of England’s current interest rate.

The above prices are inclusive of any VAT required, unless otherwise stated