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Tenant Fees

Tenants’ Guide to Charges

Knightsbridge is a member of CMP Client Money Protection Scheme. Knightsbridge is also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk.

Permitted Charges in accordance with the Tenant Fee Act 2019
 
Under the terms of the Tenant Fee Act if you enter into an ASSURED SHORTHOLD TENANCY, payments which may apply will be as follows:
First month’s rentin advance
Tenancy Deposit5 or 6 weeks depending upon the rental amount
Holding Depositmaximum one week’s rent
 
Early termination when requested by the tenant
A charge not exceeding the financial loss experienced by the landlord
Utilities, communication services, TV licence and council tax 
 
Default charge for late payment of rent
Limited to interest charged at 3% above Bank of England base rate, when rent is more than 14 days late
Default charge for replacement of lost key or security deviceequivalent to cost incurred
Changing the tenancy documents after the commencement of the tenancy£41.67 excl. VAT£50 inc. VAT
 
A Non Housing Act Tenancy is formed when one of the following criteria is in place:
  • The annual rent exceeds £100,000
  • The property is occupied by an entity(Company let) rather that an individual
  • The property is not used as a main or primary home
  • There is a Resident Landlord
If you are in any doubt as to the type of tenancy which will apply to you, please speak to our branch staff.
Under the terms of the Tenant Fee Act if you enter into a NON HOUSING ACT TENANCY, payments which may apply will be as follows:Exclusive of VATInclusive of VAT
Tenancy Setup Fee drafting and execution of tenancy agreement if supplied by us, collecting and holding the Security Deposit as Stakeholder, issuing protection certificates, if applicable, individual or company referencing 
£325
 
£390
Check-in Fee checking into the property and reviewing inventoryminimum of £109minimum of £130.80
Enhanced Reference Fee (per person or company)£50£60
Tenancy Continuation negotiating and drafting extension to the fixed term£125£150
Change of Sharer - Deed of Assignment£100£120
Early Termination - Deed of Surrender£125£150
 
Late payment of rent
Interest will be charged at 3% above the Bank of England base rate
If there are any guarantors for the tenancy:
Guarantor Referencing Fee inc verification of details, credit check, employer and accountant reference (if available)£50 per guarantor£60 per guarantor
Deed of Guarantee Fee drafting Deed, negotiating clauses and executing a document£41.67£50


Please Note: The Initial Monies must be paid by Bank Transfer. We are unable to accept cash.