At Brown & Brooke we like to keep it simple and straight forward so there are no hidden fees or hidden costs. So Tenants, below are the permitted payments that you may incur before, during or after your tenancy:
Holding Deposit A holding deposit is what is required to reserve a property once a rental offer is agreed. A holding deposit will be withheld should a tenant or guarantor fail any reference or Right-To-Rent check, if any misleading or false information is given or the tenant does not sign a tenancy agreement within 15 calendar days (unless mutually agreed in writing otherwise).
One weeks rent (per tenancy)
Rent in Advance
One month
Security Deposit
Per Tenancy, rent under £50,000 per year
5 weeks rent
Per Tenancy, rent above £50,000 per year
6 weeks rent
Unpaid Rent
Any unpaid rent will be charged at 3% above the Bank of England base rate from the Rent Due Date in order to pursue the non-payment of rent until the amount outstanding is paid.
Loss of Keys, Access/Security Device
Tenants will be charged and are liable for the costs of replacing any keys, access or security devices. In a result of a loss where a lock is required to be changed, the costs of a locksmith, a new lock and keys needed for any relevant party will all be charged to the tenant.
Variation of contract any time
To cover costs for preparations and execution of new documents required
£50 (Incl. VAT)
Change of Sharer or Replacement Tenant at any time
£50 (Incl. VAT)
To cover costs for any costs for referencing and Right-To-Rent checks on new tenants, deposit registration and preparation and execution of new documents required
Early Termination
Should a tenant wish to leave a property early, when there is no break-clause in place, the tenant will be liable for all rent due under the tenancy until the start date of a new tenancy as well as costs for re-letting of the property. This cost will not be any more than the maximum amount of rent outstanding on the tenancy.
Brown and Brooke are members of CMP for client money protection. Brown and Brooke are also members of The Property Ombudsman independent redress scheme.
Brown & Brooke calculate rent per week and per calendar month from the annual rental income for the chosen property. Please note deposit amounts will vary from property to property, but the rest of our fees are fixed for every tenancy. Please contact us if you have any questions. Brown & Brooke are happy to provide complimentary rental advice for both Landlords and Tenants.
Refundable Holding deposit - Capped at 1 weeks rent
Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000
Rent - The agreed monthly rent
Changes to tenancy - Capped at £50 inc VAT
Early termination charge - Not exceeding the landlord’s financial losses
Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue
Replacement keys - Reasonable costs or give the tenant the option to purchase themselves
Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract
