Full breakdown of Tenant Fees (all charges are shown inc of VAT) for AST tenancies:

Holding Deposit

The equivalent to one weeks’ rent – this does not form part of the Deposit under the terms of the Tenancy Deposit Scheme. When the tenancy proceeds these monies can be deducted from the total balance due before the commencement of the tenancy

Deposit

The equivalent of 5 weeks’ rent if the rent is less than £50,000 per annum and the equivalent of 6 weeks’ rent if the rent is over £50,000 per annum

Payments in the event of a default

Late rent payment – Interest shall be payable at 3% over Bank of England base rate if the full Rent is more than 14 calendar days late beginning with the date the Rent is due until the date on which the full Rent is actually paid

Full breakdown of Tenant Fees (all charges are shown inc of VAT) for Non-AST tenancies:

Tenancy Agreement Fee (tenant’s share)

£360 – Contract negotiation (amending and agreeing terms) and arranging the tenancy

Reference Fee

£60 per tenant

Guarantor Reference Fee

£60 per guarantor

Renewal Tenancy Agreement Fee

£360 – Renewal negotiation and paperwork

Inventory check-out cost (paid at the end of the tenancy)

The charge made by the Inventory Company will vary depending on the size of the property and whether furnished/unfurnished; as a guide, typical charges range from £170 to £750.
The landlord normally pays for the Inventory and Check In

Deposit payments

Holding Deposit

Usually the equivalent to two weeks’ rent When the tenancy proceeds these monies will be deducted from the total balance due before the commencement of the tenancy

Deposit

Usually the equivalent to six weeks rent (unless otherwise agreed)

Other fees and charges that may apply

Unpaid Rent / Returned payments

Interest at 4% above Bank of England base rate calculated daily from due date

Late Payment Fee

£30 for each occasion an individual rent instalment is overdue by 14 days

Fees and charges that may apply to both AST and non-AST tenancies

Payments in the event of a default

Lost keys/security devices – reasonable costs incurred for their replacement

Stamp Duty Land Tax

This tax is payable on tenancies where the rent for the term exceeds £125,000. Please contact HMRC directly for further information: https://www.gov.uk/stamp-duty-land-tax

Professional cleaning (end of tenancy)

Tenants are usually responsible for professional cleaning at the end of the tenancy – the cost will vary depending on the size and nature of the property and is only necessary to return the property to the same condition (as evidenced by the Inventory) at the start of the tenancy. Harrods Estates do not make any additional charges for this but the cost may be deducted from the deposit if it has not been carried out before the end of the tenancy.

Unless stated otherwise you will also be responsible for all household bills such as gas, electric, water, telecoms, council tax and so on. If you have any questions your local lettings team will be able to help you.

General

Harrods Estates Limited is a member of The Property Ombudsman scheme (TPO) www.tpos.co.uk and our registration number is: N00344. We subscribe to the TPO and ARLA PropertyMark Codes of Practice and to the governmentauthorised Client Money Protection scheme (CMP) operated by ARLA PropertyMark; our registration number is: C0014853

Property Fees