1. Holding Deposit One week’s rent per tenancy This is to reserve a property. This will be withheld if any relevant person (including any guarantor(s)) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
2. Security Deposit Rent under £50,000 per year five weeks’ rent per tenancy Rent of £50,000 or over per year six weeks’ rent per tenancy This covers damages or defaults on the part of the tenancy during the tenancy.
3. 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. This will not be levied until the rent is more than 14 days in arrears.
4. Lost Key(s) or other Security Devices 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 for the time taken replacing lost key(s) or other security device(s).
5. Variation of Contract (Tenant’s Request) £50 per agreed variation to cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
6. Change of Sharer (Tenant’s Request) £50 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.
7. 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.
8. Stamp Duty Only applicable on tenancies of over £125,000 All the above charges are inclusive of VAT.

CLIENT MONEY PROTECTION SCHEME: R&M is a member of the PRS Client Money Protection Scheme.