Tenant Fees

Assured Shorthold Tenancies (AST)

Before you move:

  • Holding Deposit: Equivalent to one week’s rent, this will reserve the property for fourteen days to allow the relevant paperwork and referencing (including Right to Rent) for the tenancy to be completed. Your holding deposit will be retained by Rickman Properties if you withdraw your application or fail the referencing process (which includes providing false/misleading information) or fail to complete the tenancy agreement.
  • Security Deposits
    • If the annual rent is under £50,000: Equivalent to five weeks rent. This will be protected in the Tenancy Deposit Scheme and will be returned in accordance with the terms of your tenancy agreement. This covers damages or defaults on the part of the tenant during the tenancy.
    • If the annual rent is between £50,000 – £100,000: Equivalent to six weeks rent. This will be protected in the Tenancy Deposit Scheme and will be returned in accordance with the terms of your tenancy agreement. This covers damages or defaults on the part of the tenant during the tenancy.

During your tenancy:

  • Variation, assignments or novation of a tenancy, £60 (inc. VAT)
  • Change of sharer (tenant’s request) £60 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher
  • Early termination: Should a tenant wish to vacate the property during the term, apart from according to any agreed break clause in their Tenancy Agreement, the Tenant will be liable to pay all rent and other monies due under the Tenancy until the Term expires.

Other charges:

  • Unpaid rent: Failure to make a payment of rent in full within 14 days of its due date, will result in interest charged at 3% above the Bank of England base rate on the late payment of rent for each day the payment is outstanding.
  • Lost key(s) or security device(s): Tenants are liable for the actual cost of replacing any lost keys or security devices. If the loss results in locks needing to be changed, all costs will be charged to the tenant.

Fees for non-ASTS

Before you move:

  • Holding deposit (per tenancy) – Equivalent to two weeks’ rent, this will reserve the property allowing the relevant paperwork and referencing (including Right to Rent) for the tenancy to be completed.
  • Tenancy agreement fee (tenant’s share) – £240.00 (inc VAT).
  • Reference fee – £54 (inc VAT) per tenant.
  • Permitted occupant check fee – £120 (inc VAT) per occupant over the age of 18. We must check every occupant over 18 has the legal right to rent in the UK.
  • Guarantor fee – £60 (inc VAT) per guarantor (if required).
  • Deposit – Equivalent to six weeks’ rent (unless otherwise agreed). This will be protected in the Tenancy Deposit Scheme and will be returned in accordance with the terms of your tenancy agreement.
  • Pet deposit – Equivalent to two weeks’ rent in addition to your deposit (as listed above, unless otherwise agreed) to cover the added risk of property damage.
  • Stamp duty – Due on tenancies where the rent amounts to over £125,000. For more information, please refer to the HMRC.

During your tenancy:

  • Amendment of a tenancy agreement, £120 (inc. VAT)
  • Early termination: Should a tenant wish to vacate the property during the term, apart from according to any agreed break clause in their Tenancy Agreement, the Tenant will be liable to pay all rent and other monies due under the Tenancy until the Term expires.

Other charges:

  • Unpaid rent: Failure to make a payment of rent in full within 14 days of its due date, will result in interest charged at 4% above the Bank of England base rate on the late payment of rent for each day the payment is outstanding.
  • Lost key(s) or security device(s): Tenants are liable for the actual cost of replacing any lost keys or security devices. If the loss results in locks needing to be changed, all costs will be charged to the tenant.

Should you have any queries on our fees, please contact our Lettings team.