This article outlines the costs when applying to let a property from K&G Lettings Limited. The Tenant Fees Act banned the majority of letting fees being charged on new or renewed tenancy agreements signed on or after 1 June 2019. Existing tenancies may incur the costs in force when the tenancy was signed
When you find a property that you like you will be asked to pay a refundable Holding Deposit of up to 1 weeks rent in order to process your application. The whole of your Holding Deposit will be returned to you in the event the landlord is unable to proceed. .
The value of the dilapidation deposit may vary depending on your personal circumstances, but will be equal to at least one month’s rent and be a maximum of 5 weeks rent. When the tenancy starts, you will be asked to pay the balance of the deposit less any Holding Deposit paid already. This payment must be in cleared funds to enable the tenancy to commence. For more information on Deposits, please read our article ‘A Tenant’s guide: what is a Tenancy Deposit?’.
Early tenancy termination charge
Fees associated with early termination of the tenancy, when requested by the tenant.
A charge of £50 (or reasonably incurred costs, if higher) for the variation, assignment or novation of a tenancy.
Depending on your personal circumstances and the progression of your tenancy, we may also ask you to pay other fees and charges. If we do, we will explain these to you and they will adhere to the regulations in force at the time, for example the Tenant Fees Act.
Please note: at times we may accept payment for some of these fees by credit card. Should this be the case, there will be a charge added to reflect the amount that we will have to pay for the transaction. We will always tell you if we have to make any charges when accepting payments.