Agency Fees
One of the main reasons people chose a reputable letting agent to help find their next home is to ensure the property is of a certain standard and complies with current legislation.
As with all reputable letting agents, General Accommodation Estates Limited does not charge tenants agency fees. Holding deposits, rent and deposits and charges for defaulting on the contract are all exempted from this.
Landlord Fees
Our fee is charged @ a maximum of 12% inclusive of VAT
- Company Lettings
Company lets are charged at £500 per tenancy. - What Additional Costs are there?
General Accommodation Estates does not charge any additional costs. There are no hidden fees or charges for the duration of the tenure. The figure payable at the beginning covers all possible expenses as stipulated in our terms and conditions.
Tenant Fees Schedule
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019
| Holding Deposit (per tenancy) |
One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing). |
| Security Deposit (per tenancy. Rent under £50,000 per year) |
Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Security Deposit (per tenancy. Rent of £50,000 or over per year) |
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Unpaid Rent | Interest at 3% above the Bank of England Base 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. |
| Lost Key(s) or other Security Device(s) |
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 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 (inc. VAT) for the time taken replacing lost key(s) or other security device(s). |
| Variation of Contract (Tenant’s Request) |
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. |
| Change of Sharer (Tenant’s Request) |
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration 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. |
Deposits
We are registered with the DPS (Deposit Protection Scheme). https://www.depositprotection.com
Deposits are charged at 5 weeks rent as a maximum amount for tenancies where the annual rent is below £50,000. This has gone up from the originally proposed limit of one month.
Deposits for the tenancies where the annual rent is £50,000 or more are limited to the equivalent of 6 weeks rent.
Client Money Protection
We are insured by Client Money Protection (CMP).
Our membership number is CMP005818.
The Property Ombudsman Scheme
We are a member of the The Property Ombudsman Scheme.
Our membership number is D03921.
