Terms & Conditions – Shepherd & White
Tenant Fees Act 2019
This statement covers essential terms and fees associated with securing a tenancy, including referencing, deposit requirements, and fees as per the Tenant Fees Act 2019. Here's a breakdown of the key points:
1. Offer Conditions:
o Any accepted offer is subject to contract, referencing, and immigration checks.
o Rent and Deposit are required under the Tenancy Agreement, or proof of a deposit replacement guarantee product must be provided if offered by the landlord.
2. Referencing & Right to Rent:
o Applicants must complete an application form and provide original photographic ID and proof of residence (recent utility bill, council tax bill, or bank statement).
o A guarantor may be required, and they'll need to provide ID and proof of residence.
3. Checks Involved:
o Referencing includes credit and public record checks, Anti-Money Laundering, employment, salary confirmation, previous tenancy details, and right-to-rent checks.
4. Deposits:
o Tenant Deposit: Limited to 5 weeks' rent (6 if the annual rent exceeds £50,000) and payable at tenancy start.
o Holding Deposit: Limited to 1 week's rent and reserves the property upon offer acceptance.
5. Permitted Fees:
o Late rent payments incur interest after 14 days at 3% above the Bank of England's base rate.
o Replacement of lost keys or security devices incurs a fee.
o Variation or assignment of tenancy at the tenant's request costs £50 (inc. VAT).
o Early termination payments may apply at the tenant's request.
o Company application fee: £100 (inc. VAT).
6. Professional Memberships:
o The agency is a member of The Property Ombudsman Redress Scheme (D04353), The Guild of Letting and Management and Client Money Protect(CMP005884)
This document ensures tenants are informed of potential costs and the referencing process before entering a tenancy agreement. If further clarification is needed, please don't hesitate to ask.
