We are a member of Propertymark which includes their Client Money Protection Scheme and The Property Ombudsman. The information given below is provided to ensure you are fully informed of any fees and costs involved in renting a property through Ivy Gate LTD.
Permitted payments: For properties in England, 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:
Holding deposits, we will ask for a maximum of 1 week’s rent. This will be withheld if any relevant person (including any guarantor(s) withdraw from the tenancy, provide materially significant false or misleading information, fail a Right-to-Rent check, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 14 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Deposits: A maximum deposit of 5 weeks rent for annual rent below £50,000, or 6 weeks rent for annual rental of £50,000 and above. The deposit is held to cover for any damage or dilapidation caused by the tenant during the tenancy.
Variation of Contract: (Tenant’s Request): £50 per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Early Termination: (Tenant’s Request): 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. Utilities, communication services (e.g. telephone, broadband), TV licence and council tax; Interest payments for the late payment of rent (up to 3% above Bank of England’s annual percentage 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.
Change of sharer: (Tenant’s Request): £50 per replacement tenant or any reasonable costs incurred if higher. 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 and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s)Please note all fees shown are Inc VAT.