Tenant fees and charges
All charges include VAT at the prevailing rate of 20%, but are subject to change should the VAT rate increase. We reserve the right to amend our fees if we give you reasonable prior notice.
Offer stage
You should allow for the following payments when making an offer to rent a property:
-
For Assured Shorthold Tenancies (ASTs)
| Holding deposit |
Equal to one week's rent* |
An AST tenancy is where:
- The tenant is an individual(s)
- The rent is less than £100,000 per annum
- The property is the tenant’s principle home
- The landlord is not a resident landlord
For all other non-AST tenancies
|
Holding deposit | Equal to one week’s rent* |
| Preparation of tenancy agreement (when using a KFH agreement, this may vary if a landlord uses their own agreement) | £300 per tenancy |
| Referencing - individual applicant, guarantor or company (including 'Right to Rent' check) | £66 per person / company |
| 'Right to Rent' check - additional adult occupant | £6 per person |
| Inventory check-in | £130 per tenancy |
All offers are subject to contract.
*If your offer is accepted then this amount will be offset against the initial rental payment, so you are not making this payment twice. Please be aware that if you make an offer which you later withdraw or if the tenancy application cannot proceed because you have given misleading or incorrect information, then you may lose all or some of the above. Please ask to see the conditions on the holding deposit receipt form for full details.
References and Right to Rent
All applicant references (where applicable) are undertaken by an independent specialist referencing company. You will be asked to complete their online application form.
You will need to provide us with proof of your right to rent a property in England, in line with the Immigration Acts 2014 and 2016 and to prove your current address (such as an original bank statement, credit card, utility bill, council tax demand, etc. dated within the last three months). We will take a photocopy and return the originals to you. We cannot accept photocopies, faxes or scanned copies from you.
Offer accepted stage
If your offer is accepted (subject to contract) then before the tenancy starts you will need to make the following payments to us by cleared funds, which are usually:
|
Advance rent (less the holding deposit already taken as above) | 1 x month's rent |
| Security deposit for ASTs where annual rent is under £50,000 | Equivalent of 5 x weeks’ rent |
| Security deposit for ASTs where annual rent is above £50,000 | Equivalent of 6 weeks’ rent |
| All other tenancies, as agreed between parties | Variable |
Further rents will be taken by direct debit from one nominated UK bank account.
All deposits held by us for Assured Shorthold Tenancies will be protected by the Tenancy Deposit Scheme (TDS).
Renewal charge
|
Preparation of renewal tenancy agreement for non ASTs | £300 per tenancy |
| Further Right to Rent ID verification (if necessary) for non ASTs | £6 per adult occupant |
Additional charges
-
Reference
|
If you require a reference for a tenancy or mortgage etc., for non ASTs | £42 per reference |
-
Amendments or changes to the tenancy terms
| Change or amendment to terms during tenancy, requested by tenant (ASTs) | £50 or reasonable costs |
| Change or amendment to terms during tenancy, requested by tenant (all other tenancies) | £120 |
-
Early release
If, for any reason, you request your landlord to agree to ending the tenancy earlier than the end date set out in the tenancy agreement (or in line with any break clause included in the tenancy agreement) then he/she does not have to agree to this. However should your landlord agree, then he/she can ask you to reimburse him/her for any financial loss he/she might suffer as a result. This may include:
|
The equivalent of the letting fee already paid by your landlord to us from the date you wish to end the tenancy until the date you could contractually end the tenancy (calculated as a daily rate) | Variable |
| The landlord's cost of the preparation of a new agreement | £450 |
| The cost of an inventory check-out | £130 |
-
Change of sharer
Your landlord does not have to agree to you changing any of the named tenants during the tenancy term. However he/she may agree to do so subject to you reimbursing him/her for any financial loss he/she might suffer as a result of ending one tenancy early and creating a new tenancy. This may include:
For ASTs
| The cost of the preparation of a new agreement | £50 or reasonable costs |
For all other tenancies
|
The cost of the preparation of a new agreement | £450 |
| The cost of an inventory check-out | £130 |
| Referencing proposed new tenant(s)/guarantor(s) | £66 per person |
| Re-referencing current tenant(s)/guarantor(s) (at landlord's request) | £66 per person |
| Further Right to Rent ID verification (if necessary) | £6 per adult occupant |
| Tenancy deposit protection administration charge | £60 |
-
Late rent payments
| Payable once rent is 14 days or more overdue and levied from the first day of rent arrears period | 3% above Bank of England Base Rate |
-
Lost keys or security devices
| The cost of replacing lost keys or security devices | Actual cost of replacement (lost keys or lock changes may incur a £15 per hour administration charge, depending on the circumstances) |
-
Lock change or repair
| Lock change or repair | Locksmith's charge |
-
Income tax
Generally you will pay the rent to KFH by direct debit, to be credited to your landlord’s account. However if you pay rent directly to your landlord and he/she is resident outside the UK for more than six months of the year, then you will be responsible for deducting income tax from your rent (at basic rate) and accounting for this to HM Revenue and Customs on a quarterly basis, unless HMRC confirm to you direct and in writing that you do not need to do this.