Tenant Fees

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 off to rent a property:

For Assured Shorthold tenancies (AST’s)

Holding Deposit = Equal to one week’s rent*

For all other tenancies

Holding deposit = Equal to one weeks rent*

Preparation of tenancy agreement (when using a Lawrence Rand 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) = £150 per person/company

Inventory check-in – Variable

References & 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 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 months’ rent

Security deposit for AST’s where annual rent is under £50,000 = Equivalent of 5 x weeks rent

Security deposit for AST’s where annual rent is above £50,000 = Equivalent of 6 weeks rent

All other tenancies, as agreed between parties = Variable

All deposits held by us for Assured Shorthold Tenancies will be protected by the Deposit Protection Scene (DPS)

Renewal Charge

Preparation of renewal tenancy agreement for non-AST’s including further Right to Rent = £300 per tenancy

Amendments or changes to the tenancy terms

Change or amendment to terms during tenancy, requested by tenant (AST’s) = £50 or reasonable costs

Change or amendment to terms during tenancy, requested by tenant (non AST’s) = £150

Early release

If, for any reason, you request your landlord to agree to ending the tenancy earlier than the 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 = £300

The cost of an inventory check-out = Variable

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 the tenancy early and creating a new tenancy. This may include:

For AST’s

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 = £300

The cost of an inventory check-out = Variable

Referencing proposed new tenant (s)/guarantor(s)/re referencing current tenant (s)/guarantor(s) = £150

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 £20 per hour administration charge, depending on circumstances)

Lock change & repair

Lock change or repair = Locksmiths charge

Income tax

Generally, you will pay the rent to Lawrence rand, to be credited ti your landlord’s account. However if you pay rent directly to your landlord and he/she is a resident outside of the UK for more than six months of the year, then you will be responsible for deducting income tax from you rent (at basic rent) 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.

Lawrence Rand is a member of the Property Redress scheme (PRS) and Client Money Protection (CMP).