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Fees And Deposit

Responsibilities of a Tenant Responsibilities of a Tenant Table of Contents Tenancy Deposit Schemes Tenancy Deposit Schemes

Rental Fees

It is common for letting agents to charge a fee to the tenant when moving into a property. This covers work by the agent such as carrying out credit and reference checks and administration costs. Typical fees range from £25 to £150 per person. In addition, a holding deposit, of typically between £50 and £200, is also often required. This is usually taken off the first month's rent. It is non-refundable if a prospective tenant decides not to take up the tenancy.

Deposit

In securing a tenancy a tenant must hand over to the letting agent or landlord a deposit, typically the value of four to six week's rent. The reason for having a deposit is to cover any damage to the property during the tenancy. A deposit can be a key area of contention, with some landlords in the past withholding a deposit for no reason or paying it back some months after a tenancy has ended. Arguments over damage can arise. The best way of avoiding problems is to carefully go through the inventory of a property with the landlord or agent, pointing out any damage or problems before you move in. A deposit is not designed to be set against the last rental payment. Disputes surrounding deposits in recent years have been minimised through the creation of tenancy deposit schemes.

Responsibilities of a Tenant Responsibilities of a Tenant Table of Contents Tenancy Deposit Schemes Tenancy Deposit Schemes