Tenant Fees

As soon as you have found the perfect place to live, there will be some paperwork to complete and associated fees to pay. To simplify it, we have listed our fees below, so you can work out exactly what you will have to pay. We have listed the fees payable both prior to and after you take up a tenancy with us.

Holding Deposit 

At the beginning of the application, a holding deposit to the value of one week’s rent is payable to reserve the property. This deposit will be held until a tenancy agreement is signed, unless other arrangements have been made. The holding deposit will be offset against the first instalment of rent in advance. If the tenant or any other relevant person withdraws from the agreement, or gives false or misleading information, the deposit will be forfeited. If the tenant does not abide by the agreement deadline the holding deposit will be forfeited. If the agent or landlord withdraws from the agreement, then the holding deposit will be refunded to the tenant.

Unpaid Rent

Interest is charged on unpaid rent at 3% above the Bank of England base rate from the due date until it is paid. Please note that this action will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s)

Tenants are liable for the full cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request)

A fee of £50 per agreed variation is charged to cover the costs associated with liaising with the landlord and taking instruction from them, as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request)

A fee of £50 is charged per replacement tenant, or any reasonable costs incurred if higher.

This is to cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks and deposit registration, as well as the preparation and execution of new legal documents.

Early Termination (Tenant’s Request)

Should the tenant wish to leave their contract early, they shall be liable for the landlord’s costs associated with re-letting the property, as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Security Deposit

Security deposits are taken to cover any damages or defaults on the part of the tenant during the tenancy.

  • Rent under £50,000 per year – five weeks’ rent.
  •  Rent of £50,000 or over per – six weeks’ rent.

How do we ensure you are protected?

You can rent a property through Paran Properties with confidence knowing that you are fully financially protected. We are a registered member of the UKALA Client Money Protection Scheme which ensures that tenant monies are handled in the correct manner. We are also members of The Property Redress Scheme, which is a redress scheme for consumer complaints. To view the Property Redress Scheme, click here. You can also view the conduct and membership rules of our Client Money Protection scheme here.

Please ask a member of staff if you have any further questions about our fees.