Renting a property
Penny & Sinclair, Independent Property Agents, are one of the market leaders in Oxfordshire having acquired an enviable portfolio of properties, and we are renowned for letting some of the finest in Oxfordshire.
Our key focus at all times is that of providing an exemplary level of customer service. We value our relationship with both landlord and tenant which is testament to our repeat business year on year.
LONG LETS (Assured Shorthold Tenancies)
At application stage:
A holding deposit will be payable of one weeks rent at the time of applying for a property. This deposit reserves the 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).
Before move in:
- For rents up to £50,000 pa – equivalent of five weeks’ rent.
- For rents over £50,000 pa – equivalent to six weeks’ rent.
This deposit covers damages or defaults on the part of the tenant during the tenancy. Deposits are protected by a Government Approved Scheme.
Further information available on request.
Additional charges where applicable:
- 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 (keys) 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 (tenant’s request) - £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
- Change of Sharer (tenant’s request) £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s 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 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 outstanding on the tenancy.
- Additional rent may be payable should the landlord permit pets in a property. This will be outlined on each individual property listing.
The following fees apply to Tenancies that are NOT covered by the Housing Act 1988 and existing tenancies entered into before 1st June 2019 only:
LONG LETS (Non-Housing Act Tenancies)
Before you move in:
Application and set-up fees:
- £240.00 incl VAT per applicant
- £90.00 incl VAT per guarantor (if applicable)
The above charges cover referencing for applicable number of tenants, contract negotiation and the arranging of the tenancy agreement.
Minimum of one months' rent is due in advance with the deposit that is equal to 1.5 months' rent.
Deposits are protected by a Government authorised scheme. Further information available on request.
Please note that the deposit rises to the equivalent of two months' rent when letting a property with pets.
During your tenancy:
- Tenancy renewal fee £150.00 incl VAT
- Early termination fee equivalent to 1 months' rent (subject to landlords' agreement)
Unpaid rent/returned payments - interest is payable from the date on which the Rent was due until the date on which the Rent is actually paid. The interest rate will be 3% above the Bank of England Base Rate.
At the end of your tenancy:
A check out charge will be payable at the end of your tenancy and the cost will be deducted from deposit. The charge for the checkout report is dependent on the size/type of the property. The report is conducted by a third party independent clerk. This report is compared to the inventory which is prepared prior to the tenancy commencing to establish whether any deductions should be taken from your deposit and is paid for by the landlord.
CHECK OUT FEES
Please note all fees above are approximate and are inclusive of VAT at the prevailing rate.