We outline on this page a basic, quick guide and overview for tenants, to explain what is typically involved with letting a property.
If you need any further information or advice, please don’t hesitate to contact us.
Holding Deposit (per tenancy)
One week’s rent. This is to reserve a property. Please Note: This will be withheld (not returned) if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right to Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other agreed deadline).
Tenant Fees Schedule
New assured shorthold tenancies (ASTs)
Holding Deposit (per tenancy)
One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right to Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other agreed deadline).
Security Deposit
Rent under £50,000 per year: Five weeks’ rent (covers damages or defaults).
Rent £50,000 or over per year: Six weeks’ rent (covers damages or defaults).
Unpaid Rent
Interest at 3% above the Bank of England Base Rate from the rent due date until paid, to pursue non-payment of rent. This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or Security Device(s)
Tenants are liable for the actual cost of replacement. If locks need to be changed, the actual costs of a locksmith, new locks, and replacement keys for all parties will be charged. Additional costs may include £15 per hour (inc. VAT) for staff time.
Variation of Contract (Tenant’s Request)
£50 (inc. VAT) per variation, covering landlord approval and updated legal documents.
Change of Sharer (Tenant’s Request)
£50 (inc. VAT) per replacement tenant, or reasonable higher costs if applicable.
Early Termination (Tenant’s Request)
Tenant remains liable for landlord’s costs in re-letting the property and all rent due until a replacement tenancy begins (capped at the maximum outstanding rent).
Tenancy Agreement
A tenancy agreement must be signed prior to the tenancy commencing. The agreement outlines both tenant and landlord obligations. Renewal and documentation will be managed between landlord and tenant, with Wards acting on behalf of the landlord only.
Payment
Deposit (typically equivalent to one month’s rent).
First month’s rent in advance (calculated per calendar month).
Payments must be cleared before tenancy commences. Accepted methods: cash, card, bank transfer, online, or standing order.
Managed Properties
If Wards fully manages the property, tenants must report faults or issues promptly to avoid liability.
Rental Payment
For managed properties, rent is collected by Wards. For landlord-managed properties, tenants must set up a standing order after the first month.
Notice to End a Tenancy
Normally one month’s written notice is required, usually aligned with the rent due date unless otherwise specified.
Insurance
Tenants are responsible for insuring their belongings. The landlord is not responsible for loss or damage to tenant possessions.
Inventory
A detailed inventory protects both landlord and tenant, documenting property condition and contents at tenancy start and end. Independent inventories are recommended for fairness.
Deposit Returns
At tenancy end, the property will be inspected by the landlord or an independent inventory clerk.
Tenants’ Obligations
Tenants must secure the property and take reasonable precautions (e.g., prevent frozen pipes during winter).
Property Inspection
Wards will carry out periodic inspections (quarterly or six-monthly) by prior arrangement with the tenant.
Council Tax & Utilities
Tenants are responsible for contacting utility providers and paying council tax, gas, electricity, water, broadband, and TV licence (unless otherwise agreed). Students must notify the council if exempt.