Tenant
Fees

This page outlines the tenant fees and permitted charges that apply when renting a property through Right Now Residential. Fees vary depending on the type of tenancy and are set out clearly below in line with current UK legislation.


If you have any questions about how these fees apply to your tenancy, our team is happy to help.

Tenant Fees - Assured Tenancies

An assured tenancy is the standard form of residential tenancy in England. Under the Tenant Fees Act 2019, landlords and agents are only permitted to charge certain fees to tenants. The table below sets out the permitted tenant fees and payments that may apply.

Charge

Costs (£)

Holding Deposit
One week’s rent. This is to reserve a property. 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
Five weeks’ rent or Six weeks’ rent (if rent is £50,000 or over per year) This covers damages or defaults on the part of the tenant during the tenancy.
Initial Rent Payment
Rent payments are made in accordance with your tenancy agreement and applicable legislation.
Utility Bills
Outlined in your tenancy agreement and subject to the providers tariffs and may include all or some of the following: Telephone, Wi Fi, Water & Sewage, Electricity, Gas, Council Tax and TV License.
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 any other persons requiring keys will be charged to the tenant. Costs charged will be evidenced with receipts.
Variation of Contract
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. Subject to landlord consent.
Change of Sharer
£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 referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents. Subject to landlord consent.
Early Termination
Should the tenant wish to leave their contract early, they shall be liable to 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. Subject to landlord consent.

TENANT FEES - NON-HOUSING ACT TENANCY

Non-Housing Act tenancy is a type of rental agreement that falls outside of the provisions of the Housing Act 1988. Non-Housing Act tenancies are not subject to the same legal requirements as assured tenancies. A Non-Housing Act tenancy may apply in circumstances such as where the rent exceeds £100,000 per annum, where the property is not the tenant’s principal/main home, or where the tenancy is a company let.

The table below outlines the tenant fees and charges that may apply to Non-Housing Act tenancies.

Charge

Costs (£)

Holding Deposit
One week’s rent. This is to reserve a property. 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
Up to Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Initial Rent Payment
Monthly, quarterly, bi-annually or annually in advance. Rent is usually calculated monthly and for the daily rate the formula used is (Monthly Rent x 12 / 365 x Days)
Utility Bills
Outlined in your tenancy agreement and subject to the providers tariffs and may include all or some of the following: Telephone, Wi Fi, Water & Sewage, Electricity, Gas, Council Tax and TV License.
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 any other persons requiring keys will be charged to the tenant. Costs charged will be evidenced with receipts.
Tenancy Set-Up Fee
£360 (inc. VAT), drafting and execution of tenancy agreement if supplied by us, collecting and holding the Tenancy Deposit as Stakeholder (where applicable), issuing relevant deposit protection certificates (where applicable).
Check-Out Fee
Minimum of £150 (inc. VAT) subject to property size, checking out of the property and reviewing the inventory
Reference Check Fee
£60 (inc. VAT), per person, per UK company and per UK guarantor (if required)
Renewal Agreement Fee
£240 (inc. VAT), negotiating and drafting extension to the fixed term.
Variation of Contract
£300 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer
£300 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Get in touch

If you would like clarification on any of the tenant fees listed above or need help finding your next home, please get in touch with our team.

+44 (0) 203 002 2650
enquiries@rightnowresidential.co.uk

2nd Floor, 24 Southwark Bridge Road, London SE1 9HF