Equal to one week's rent. The Holding Deposit is required in order to reserve a property. From the time you pay your Holding Deposit you have 15 calendar days in which to provide all the information we require in order for a Tenancy Agreement to be drawn-up and signed by both landlord/agent and all relevant applicant parties to the agreement. The Holding Deposit will be withheld if any relevant person withdraws from the tenancy, fails a Right to Rent Check, provides false or misleading information, within the 15 calendar day deadline. The 15 days requirement can be extended by mutual agreement in writing to a date agreed by both parties. If this timeline is exceeded due to a failure to provide the required information, failure by all relevant parties to sign the tenancy agreement, the Holding Deposit will be forfeit. The same will apply to any Guarantor who is required to enter into a Deed of Guarantee, party to the tenancy agreement.
It is a requirement that funds equal to five (5) weeks rent be provided to cover damages sustained during the period of the tenancy. The security deposit will be deposited with the "Deposit Protection Service (DPS)", who will acknowledge receipt and issue you with a unique ID number, directly.
An interest charge of 3% above the Bank of England's Base Rate (calculated annually) will be applied to any portion of unpaid rent, after the fourteenth day from when your rent became payable.
A £50 charge (inclusive VAT) will be applied should you require a variation of the contract. This has to first be approved by your landlord, who may agree or not agree to the required variation. The charge is applied to cover costs associated with all aspects of the change(s) including the drawing up of any additional/replacement legal documents required to achieve the request.
Provided your landlord agrees to a change of sharer a charge of £50 (inclusive VAT), per sharer will be applied to cover the costs incurred in conducting, referencing, Right to Rent Checks, Deposit registration and any further administrative inquiries. New legal documents will need to be produced in order to achieve this request.
Should keys or any security device be lost you will be liable for the actual full cost of replacement. In the case of it being necessary to change a lock due to the loss of a key the full cost of the lock the lock smiths time and any additional keys required for the landlord and agent. If any extra costs are incurred a charge of £20 per hour will be made to cover travel time and any extra associated costs.
BS Home Lets Limited are members of the following:
The Property Ombudsman (TPO) - In the event of a Complaint not resolved BS Home Lets:
Tel: 01722 333306
Client Money Protection (CMP)
BS Home Lets Ltd are members of a Client Money Protection Scheme, who's contact details are:
UKALA Total Loss CMP Certified, provided by Let Alliance
C/o The UK Association of Letting Agents
Skyline House, 2nd Floor, 200 Union Street, London, SE1 0LX
UKALA Membership Number: 073985
Expiry date: Renewed on 16th September annually
This insurance provides financial protection for Landlords and Tenants in relation to money handled by the agent.