Honourable and personal residential letting experts

What are the costs of your rental property with Maxine Lester?

We want to ensure that you understand the full cost of renting through us throughout the life of your tenancy. Please ensure that you fully understand our Tenant Working Agreement and all costs BEFORE you make an offer on a property. Please contact us if you are unsure of anything.

Thank you.

These are all the costs you will have associated with your tenancy:

Holding Deposit

One week’s rent. This is to reserve a property – once received we will stop marketing the property.

The holding deposit is not a fee and is usually refundable. For convenience when your tenancy starts your Holding Deposit will become part of your first rent payment, to be added to by you with the extra amount needed to meet the required amount.

Please Note: The holding deposit will not be refundable if any applicant or their guarantor:

withdraw from the tenancy
fail a Right-to-Rent check
provide materially significant false or misleading information
fail to sign their Working Agreement with Maxine Lester or the tenancy agreement (and/or any Deed of Guarantee) within the agreed deadline (usually 15 days).

Security Deposit

Five weeks’ rent (or six weeks for rents over £50,000 p.a.).

This covers any damages or defaults on your part during the tenancy.

Rent

At the agreed monthly rate, to be cleared into the Maxine Lester account by the day of the month specified in your tenancy.

Utilities, Council Tax & Insurance

You are responsible for all your utilities (gas, electric, water, phone, broadband/fibre), plus Council tax, unless a specific agreement is written into your tenancy to include these with your rent.

We strongly recommend that you have insurance to protect your own contents, personal possessions, pedal cycles and other valuables, as the Landlords insurance will NOT cover your items. Our chosen provider for insurance is OneBroker. This insurance also gives you protection towards accidental damage to the Landlords, an important feature of tenants’ insurance.

Late rent payment

You will be charged interest on late rent payments at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent.

Lost keys and security devices

You are liable for the actual cost of replacing any lost key(s) or other security device(s). If extra costs are incurred there will be a charge of £25 per hour (inc. VAT) for the time taken as a result of the lost key(s) or other security device(s)

Variations to Contract

Where you request a change to the tenancy there will be a charge of £50 (inc. VAT) per agreed variation. This covers the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents. This will apply for changes such as adding a pet to an existing tenancy, changing a sharer on a tenancy.

There will also usually be an increase of rent of £25 for each pet to cover the extra risks faced by the landlord of having pets in the property.

Early Termination

Where you request to end your tenancy earlier than the date agreed in the tenancy then you will need to meet the landlord’s costs in 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 payable if the tenancy ran to the date agreed in the tenancy. Click here for more detail.

Missed appointments

Where appointments are agreed for staff or contractors to visit the property for specific activities and those activities can’t be completed due to you not fulfilling the agreement then our time and that of contractors is chargeable at £25 per hour including VAT.

Breach and Damages

Where you are in breach of any of the terms of your tenancy then you may incur costs for damages associated with that breach where it can be shown Maxine Lester Lettings, your landlord or anyone else has suffered a loss as a result of your breach of the tenancy

Non-housing Act tenancies e.g. Company Lets

If you are a company or have another non-housing Act tenancy then you will will pay the Changeover Fee of £750 at the start of the tenancy and £50 for any renewal or extension. (Inc VAT).