Tenant Fees
Assured Shorthold Tenancy (AST)
Pre-Tenancy Requirements
Holding deposit
(per tenancy)
An amount equivalent to one week’s rent is payable as a holding deposit. This may be retained if you withdraw from the application, do not pass referencing (including the provision of false or misleading information), or fail to sign the tenancy agreement within the specified timeframe.
Deposit (if the rent is under £50,000 per annum)
A deposit equivalent to five weeks’ rent is required and will be securely held in the Tenancy Deposit Scheme (TDS). It will be returned at the end of the tenancy in accordance with the terms outlined in your tenancy agreement. This deposit serves as security against any damage to the property or breaches of the tenancy obligations during the rental period
During Tenancy Term
Change of sharer (tenant’s request) £50 per replacement tenant or any reasonable costs incurred if higher.
Applicable to long-let tenancies, this fee covers the administrative costs involved in acting on the landlord’s instructions. It includes conducting new tenant referencing and Right to Rent checks, registering the security deposit, and preparing and executing the relevant legal documentation.
Early termination (tenant’s request)
If a tenant wishes to terminate the tenancy before the agreed end date, they will be responsible for the landlord’s reasonable costs incurred in re-letting the property, as well as the rent due under the terms of the tenancy until the commencement of a new agreement. These costs will not exceed the total rent remaining under the existing tenancy.
Other Fees and Charges
Unpaid rent
For long-let tenancies, interest may be charged on any rent that remains unpaid for more than 14 days. This will be calculated at a rate of 3% above the Bank of England base rate and applied for each day the payment remains outstanding. Please note: interest charges will only apply once the rent is 14 days in arrears.
Lost key(s) or other security device(s)
Tenants are responsible for covering the actual cost of replacing any lost keys or security devices. Where the loss necessitates a lock change, the tenant will be liable for the cost of the locksmith, new lock installation, and replacement keys for all relevant parties, including the landlord. In cases where additional time or coordination is required, a fee of £15 per hour may be charged for the time spent managing the replacement.
​
HPMuk is a registered member of the Property Redress Scheme (Consumer Redress Scheme) and holds Client Money Protection as well as AXA Liability Insurance, ensuring your tenancy is handled with transparency and care.