Client Money Protection Henry Adams has Client Money Protection in place with Propertymark.
Ombudsman Henry Adams offers independent redress with The Property Ombudsman.
Holding Deposit (per tenancy) One weeks 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 Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year) Five weeks rent. This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent of £50,000 or over per year) Six weeks rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent - Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This 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 to the actual 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 (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenants Request) £50 (inc. VAT) per agreed variation.
To cover the costs associated with taking landlords instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenants Request) £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlords instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenants Request) - Should the tenant wish to leave their contract early, they shall be liable to the landlords 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 outstanding on the tenancy.
Income requirements - Generally to pass tenant referencing criteria applicants will need a combined income of 2.5 times the annual rent if employed and 3 times the annual rent if self employed. Guarantors (if accepted) will need to earn 3 times the annual rent.
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