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Permitted payments and tenant protection information
What reservation fees & rental funds will be asked for before moving in?
Essence Property would take a reservation deposit which covers the taking the property off the market while we commence referencing, this fee will be transferred to your deposit on move in (subject to passed referencing).To secure an apartment we must be in receipt of the reservation fee. Once acceptable references have been received and approved, a date will be agreed for the start of your tenancy. The tenancy agreement must be signed and the initial monies must be paid in full.
- Reservation deposit: Equivalent to one weeks rent
- First month‘s rent: Payable in advance of move in
- Deposit: Equivalent to five weeks rent, payable on or before the date of move in (must be cleared funds on the date of move in).
As well as paying the rent, you may also be required to make the following permitted payments.
Permitted payments
For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant‘s behalf) the following permitted payments:
' Holding deposits (a maximum of 1 week‘s rent);
' Deposits (a maximum deposit of 5 weeks‘ rent for annual rent below £50,000, or 6 weeks‘ rent for annual rental of £50,000 and above);
' Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs);
' Payments associated with early termination of a tenancy (capped at the landlord‘s loss or the agent‘s reasonably incurred costs);
' Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services 'telephone, internet, cable/satellite television), TV licence;
' Council tax (payable to the billing authority);
' Interest payments for the late payment of rent (up to 3% above Bank of England‘s annual percentage rate);
' Reasonable costs for replacement of lost keys or other security devices;
' Contractual damages in the event of the tenant‘s default of a tenancy agreement; and
' Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time.
For properties in Wales, the Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments
'Holding deposits (a maximum of 1 week‘s rent);
'Security deposits;
'Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services 'telephone, internet, cable/satellite television), TV licence;
'Council tax (payable to the billing authority);
'Payments for the late payment of rent (where required under the tenancy agreement);
'A breach of a term of the contract (where required under the tenancy agreement); and
'Any other permitted payments under the Renting Homes (Fees etc.) (Wales) Act and regulations applicable at the relevant time.
Tenant protection
In addition to publishing relevant fees, Essence Property Investment & Management is a member of Property Ombudsman (Property Redress Scheme). Back to listing
Full details for Apartment For Rent in Birmingham
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Description
The property consists of a an entrance hallway off which is found the shower room, fully equipped kitchen, spacious lounge and sleeping area with a double bed and bedroom furniture. The full height windows and Juliet balcony allow floods of natural sunlight into the property. The location, close to the city centre and New Street Station, 24 hours concierge, secure fob entry all make for a great place to live.Permitted payments and tenant protection information
What reservation fees & rental funds will be asked for before moving in?
Essence Property would take a reservation deposit which covers the taking the property off the market while we commence referencing, this fee will be transferred to your deposit on move in (subject to passed referencing).To secure an apartment we must be in receipt of the reservation fee. Once acceptable references have been received and approved, a date will be agreed for the start of your tenancy. The tenancy agreement must be signed and the initial monies must be paid in full.
- Reservation deposit: Equivalent to one weeks rent
- First month‘s rent: Payable in advance of move in
- Deposit: Equivalent to five weeks rent, payable on or before the date of move in (must be cleared funds on the date of move in).
As well as paying the rent, you may also be required to make the following permitted payments.
Permitted payments
For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant‘s behalf) the following permitted payments:
' Holding deposits (a maximum of 1 week‘s rent);
' Deposits (a maximum deposit of 5 weeks‘ rent for annual rent below £50,000, or 6 weeks‘ rent for annual rental of £50,000 and above);
' Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs);
' Payments associated with early termination of a tenancy (capped at the landlord‘s loss or the agent‘s reasonably incurred costs);
' Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services 'telephone, internet, cable/satellite television), TV licence;
' Council tax (payable to the billing authority);
' Interest payments for the late payment of rent (up to 3% above Bank of England‘s annual percentage rate);
' Reasonable costs for replacement of lost keys or other security devices;
' Contractual damages in the event of the tenant‘s default of a tenancy agreement; and
' Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time.
For properties in Wales, the Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments
'Holding deposits (a maximum of 1 week‘s rent);
'Security deposits;
'Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services 'telephone, internet, cable/satellite television), TV licence;
'Council tax (payable to the billing authority);
'Payments for the late payment of rent (where required under the tenancy agreement);
'A breach of a term of the contract (where required under the tenancy agreement); and
'Any other permitted payments under the Renting Homes (Fees etc.) (Wales) Act and regulations applicable at the relevant time.
Tenant protection
In addition to publishing relevant fees, Essence Property Investment & Management is a member of Property Ombudsman (Property Redress Scheme). Back to listing
