Information

Tenancy Agreements subject to the Tenant Fees Act 2019: 

Holding deposit 
One week’s rent to reserve a property and will then contribute towards the first months rent.

Security deposit 
Equivalent to five weeks’ rent, rising to six week’s rent when the annual rent is in excess of £50,000.

Rent and utility bills 
As outlined in the Tenancy Agreement.

Unpaid rent 
This will potentially incur interest at 3% above the Bank of England base rate, as outlined in the Tenancy Agreement.

Lost keys 
Tenants are liable for the cost of replacing any lost keys or security device, including a change of lock or replacement of device if required.

Amendments of Tenancy Agreement at Tenant’s request 
Amendments of Tenancy Agreement at tenant’s request a minimum of £50 per change which could increase depending on the level of work required to carry out the amendment.

Early surrender of the tenancy
Should a tenant need to surrender the tenancy early and the Landlord agrees to re-let the property, the liability for the payment of rent will end once a new tenant is found and takes up occupation. However, the tenant will still need to cover the Landlord’s costs for re-letting the property.

Tenancy Agreements not subject to the Tenant Fees Act 2019:
A one off upfront payment of £180 per tenancy which is a contribution towards processing the application, drawing up the Tenancy Agreement and registering the deposit.

Tenant reference charge 
(£60 per tenant) covers collecting and verifying references from employer/accountant and previous landlord reference as well as carrying out a credit check and collecting a copy of passport, proof of residency, bank statements and a recent payslip.

Guarantor charge
(£60 per guarantor if required) covers credit referencing and preparing a Letter of Guarantee as part of the Tenancy Agreement.

Professional check-in fee
(£144) enables us to arrange a date and time with the tenant to be checked in at the start of the tenancy and checked out at the end of the tenancy, instruct inventory providers, agree the terms of the security deposit disbursement between Landlord and tenant, return deposit as agreed with the Landlord and tenant to relevant parties, remit any disputed amount to the Tenancy Deposit Scheme for final adjudication, unprotect security deposit, instruct contractors and obtain quotes, organise repairs/replacements/cost of any broken or missing items.

Renewal charge 
(tenant share, £144) covers the cost of negotiating and administering the renewal and re-registering the deposit with the Tenancy Deposit Scheme.

If a tenant decides to rent a property through LiFE in the name of a business or company the tenancy administration and reference charge will be £480 for a new tenancy and £240 for every renewal.

Further information
All prices are inclusive of VAT.

Rest assured, as a member of The Property Ombudsman (TPO) for sales and lettings we subscribe to TPO’s Codes of Practice. 

This Government approved independent redress scheme gives consumers additional protection beyond that required by law. Our clients and customers have peace of mind that there is free and fair redress available in the unlikely event of an unresolved dispute involving our agency.

As regulated members of RICS this means that any monies we hold is insured. This gives our clients peace of mind and financial protection that their money will always be safe in our hands under the RICS Client Money Protection Scheme.

Tenant help
There are many benefits to living in a rental property that is managed by LiFE, however we appreciate that not all properties are managed. Should there be a time where by you are unable to get hold of your Landlord - don't worry, we will help where we can. Simply call our tenant helpline on 020 8896 9990.