When renting a property in the UK, it is essential to be aware of the various fees that may apply during your tenancy. Below are the key tenant fees you might encounter:

1. Refundable deposit: – Amount: Equivalent to 5 weeks’ rent.

Purpose: This deposit is held by the landlord to cover any potential damages or unpaid rent during your tenancy. It will be returned to you at the end of your tenancy, subject to the property being left in good condition and fulfilling any conditions outlined in your tenancy agreement.

2. Refundable holding deposit: – Amount: Equivalent to 1 week’s rent.

Purpose: This holding deposit reserves the property for you while references are being
checked, and the tenancy agreement is being prepared. If your application is successful, this amount will form part of your 5 weeks deposit. (Number 1 above).

3. Change of tenancy at tenant’s request: – Fee: £50 (including VAT)

Purpose: If you wish to change your tenancy details (such as changing names on the lease during an existing tenancy),this fee will apply.

4. Early termination payments at tenant’s request – Fee: £50 (including VAT).

Purpose: If you wish to terminate your tenancy early, this fee will cover the administrative costs associated with processing your request.

5. Default fee for late rental payment:

Fee: £25.00 plus interest at 3% per annum above the HSBC base rate.
Purpose: This fee applies if your rent payment is late by two weeks or more. It covers the reasonable costs incurred by the landlord or agent due to the delay.

6. Lost key costs: –

Fee: Varies based on the complexity of the lock or security device.

Purpose: If you lose your keys and require a replacement, the cost will depend on the specific circumstances. An invoice will be provided detailing the exact costs incurred.

 

Transparency & Compliance

At Lexingtons, we are fully committed to transparency and compliance with the Tenant Fees Act 2019. The fees listed above represent the only charges that may be applied during your tenancy. No other fees are permitted under current legislation.

If you have any questions about these charges or your rights as a tenant, please don’t hesitate to contact us. Our team will be happy to provide clear guidance and ensure you have all the information you need before proceeding with your tenancy.

For more details, please refer to the official UK Government Tenant Fees Act guidance.