Tenants

Harrods Estates can help tenants looking for luxury properties to rent in London.  Now with three offices across the city's capital, each in prime locations - Knightsbridge, and Mayfair, our team of negotiators can help you to find the perfect luxury home - whether to accommodate: long lets, short lets, corporate tenants or luxury student lets.   All clients looking to rent a luxury residence in London will be supported through each step of the lettings process.  We have linguists within our Middle East and Russian Desks who can provide further assistance. 

Tenant Requirements:

We do not charge to register tenants, host viewings or for appointment time with any of our negotiators. If you progress with renting a property with effect from 1st June 2019, some standard fees will apply in addition to the payment of Rent:
 
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 bededucted 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
 
Landlord Fees

For a breakdown of Landlord fees and charges, please visit our Landlord page here

ARLA

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