Tenancy Information

Tenancy Fees

The Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant’s behalf) the following permitted payments:

Tenant Fees Schedule
COVID-19 - Rent Payment Procedure

Holding Deposits

We will require a Holding Deposit equivalent to a maximum of 1 weeks rent. Upon successful application, this will form part of the first months rental payment.

Upon receipt of the holding deposit, Wainwrights will reserve the property for 14 Days to allow credit check and referencing to be carried out, after which time Wainwrights reserve the right to re-market the property. Assuming successful referencing results, the Holding Deposit will be put towards the first months rental payment.

At any stage after the Holding Deposit has been paid to Wainwrights, should the applicant decide not to proceed with the property, the Holding Deposit is Non-Refundable”. The full amount will be retained by Wainwrights.

If the application is unsuccessful having provided false or misleading information and/or we receive an unfavourable referencing result, Wainwrights will retain the full Holding Deposit. This may also apply if the applicant fails to take all reasonable steps to provide information requested within the 14-day period.

Deposits

A maximum deposit equivalent to the value of 5 weeks rent (example: with a rent value of £500.00 PCM, the payable deposit is £576.00). A “No Deposit” scheme may be advertised or made available subject to the agreement of the landlord.

Tenancy Alterations

On variation, assignment or alteration of a tenancy, fees are capped at £50.00 + VAT. Payments associated with early termination of a tenancy are capped at the landlord’s loss or the agent’s reasonably incurred costs.

Key Replacements

The cost of replacement keys or other security devices will be passed onto the tenant at the agent’s/landlord’s reasonably incurred costs.

Call-Out Fees

Should the tenant require a representative of Wainwrights to attend the property for an emergency call out (Example: Having locked themselves out of the property) a fee of £25.00 will be levied.

Other Important Information

Wainwrights are a member of the Client Money Protection Scheme (CMP) Membership Number: CMP002314. Any client’s money that we hold is protected. This insurance scheme ensures that your money is handled in the correct manner.

Wainwrights are registered members of The Property Ombudsman Scheme (TPO). Membership Number: E00111.

This is an Office of Fair Trading redress scheme for consumer complaints. You can find out more information on their website: https://www.tpos.co.uk or a hard copy of the Code of Practice is available in our office.

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