For Tenants
When renting a property with Knightsbridge International Real Estate, there are various costs that you will need to take into consideration alongside your offer.
Thankfully, with the introduction of the Tenant Fee Act 2019, which set out to reduce the costs that tenants can face at the outset, and throughout a tenancy, the overinflated and often extortionate payments that were expected of renters have been abolished and now there are only a small number of permitted charges ensuring total transparency and peace of mind.
Please see the permitted charges below:
Holding Deposit:
A holding deposit equivalent to one weeks’ rent is required to reserve the property and will be deducted from the first rental invoice. Please note, that this will be withheld should any relevant party (i.e. tenant or guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide any misleading information or fail to sign their tenancy agreement within 14 calendar days of their offer being accepted.
Rent:
Payment is to be made in accordance with the terms outlined in your tenancy agreement.
Tenancy Deposit:
This is the equivalent of 5 weeks’ rent, if the annual rent is less than £50,000. This increases to the equivalent of 6 weeks’ rent where the annual rent is more than £50,000. The Tenancy deposit is payable in advance before the start of the tenancy.
Knightsbridge International Real Estate Limited is a member of MyDeposits and the TDS Tenancy Deposit Scheme.
Additional Permitted Charges
Unpaid or Late Rent:
Interest will be charged at 3% per annum over The Bank of England’s base rate.
Lost Keys:
Tenants are liable for the cost of replacing any lost keys or security devices, including a change of lock(s) or a replacement device if required.
Variation of Contract after the tenancy commencement:
£50 inc VAT will be payable by the tenant per agreed variation.
Change of Sharer:
£50 inc VAT will be payable per replacement tenant or any reasonable costs incurred, if higher.
Early Termination at the request of the tenant:
All landlord’s costs in re-letting the property plus all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.
Knightsbridge International Real Estate Limited is covered by the Propertymark Client Money Protection Scheme and is a member of a redress scheme provided by The Property Ombudsman.
