Tenant Default Fees
Default Fees Charged by Coles Group Estate Agents are as follows:
- A holding fee of one weeks rent will be taken to reserve the property applied for by the applicant.
- The tenant will be liable to pay any bank charges incurred by the Agent resulting from dishonoured cheques or standing order mandates drawn by the Tenant for Rent.
- If a property accepts pets, a premium of £10-£25pcm will be chargeable to the monthly rent.
- To pay the interest on overdue rent if the late payment has been overdue for 14 days or more from the rent payment date outlined in the agreement. Any interest charged will not exceed the Bank of England's base rate at the time of the charge +3%
- The Tenant will be liable for any reasonable charge or other cost incurred as a result of missed appointments where a prior arrangement has been made for tradesmen to visit, inspect or work at the Property. This will be the contractor's charge and not a charge by the Agent.
- To pay an early release charge of 5 weeks rent when wanting to cancel an agreement before it's expiry date. This is subject to the Landlords agreement to an early release and the tenant will be liable for the rent until a new tenant is found to take over the agreement. This fee is to cover the Landlord's referencing and advertising costs that the Landlord has incurred as a result of the Tenant leaving early.
- The Agent has the right to automatically increase the rent up to 7% a year. The Tenant will receive one months’ notice of the increase.
- If a Tenant requires a spare key from the Agent, the Agent has the right to charge £20 to get a key copied. Alternatively, the agent can take a £20 key deposit. On return of the borrowed key, the Agent has the right to return £10 of the deposit to the Tenant. The remaining £10 will be charged for administrative costs.
- If a Tenant loses the keys causing the locks needing to be changed, the Tenant will be liable to change the locks at their own cost and provide a spare key to the Agent immediately after the lock change. If the Agent has a spare key, the Tenant will be liable to pay for the keys to be cut. The Agent will provide proof of receipt for this and the Tenant will be liable for a £20 charge to the Agent for the service. If the Tenant doesn't want to incur the Agent's cost, they are permitted to get it cut at their own cost plus a £15 admin charge to the agent.
- The Agent has the right to charge £50 for the change of a Tenant on the agreement. This charge is per Tenancy change and will fall onto the Tenant. This includes the changing of names and the changing of individual Tenants.
- The Agent has the right to charge £120 for every reference they are required to give a new Landlord or Agent on the Tenants behalf.
If you have any questions regarding the default fees displayed by Coles Group, please speak to a member of staff in the office, call us on 01622 763322 or email us on email@example.com