Before you move in:
- Initial Holding Deposit – A refundable deposit to reserve a property capped at 1 week rent. Upon successful referencing, this will become part of the full 5 or 6 weeks Rent Deposit.
- Rent Deposit – 5 weeks rent for rent less than £50,000 per year. 6 weeks for rent more than £50,000 and above per year. Not sure how to calculate? Rent pcm x 12 / 52 = rent per week or Rent pw x 52 / 12 = rent pcm.
- Any change to the Tenancy Agreement – £50.00 or reasonable costs incurred if higher. This means any contract negotiation that leads to amending terms of your tenancy agreement during the tenancy, including any change of tenant.
Other Fees and Charges:
- Unpaid Rent/Returned Payments – Interest 3% above Bank of England base rate from date due until paid.
- Replacement of lost key/security device – The reasonable cost of replacing any keys, fobs or other security devices lost or damaged by the Tenant.
- Early Termination of Tenancy – If granted, all the landlord’s cost of re-letting the property, the contracted rent until the end of the fixed term, and monthly rent until the property is re-let. The re-letting cost may include referencing, check in / out, drawing up tenancy agreement, marketing and advertising.
- Administration of a Change of Sharer – If granted, all the landlord’s cost of administering the change.
- Damages and Missing Items – Should tenant(s) breach contract or failure to fulfill the obligations contained in the contract, the Tenant will be liable for all costs incurred by the landlord.
*Prices correct as of August 2022 and are subject to change.
Handling Client Monies
Any funds held by Marybow Property as agent will be held in a bank account designated as a ‘Client Account’ and separate from our own funds. As members of ARLA Propertymark, we are a member of Propertymark Client Money Protection Scheme (ref C0131558). Certificate here. Conduct and Membership Rules here.
Marybow Property is registered with the Property Redress Scheme (Member Number PRS003131).
Marybow Property is registered with the The Deposit Protection Service (Agent ID 1661188). We use the Custodial Scheme, which means they hold the deposit for the duration of the tenancy.
We’ve lived in a Marybow Property managed flat in East London for over three years and they are by far the best agents I’ve ever dealt with.