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. 

Key points that you need to know when renting a property.

Renters’ Rights Act 1^st May 2026
On 1^st May 2026, the Renters’ Rights Act becomes law and makes several changes to both the application process and tenancy terms for Housing Act Tenancies.

• All Housing Act Tenancies from 1^st May will be Assured Periodic Tenancies (APTs). All existing Assured Shorthold Tenancies will also automatically convert to APT’s
• Rental bidding will be banned. It will no longer be possible to offer more than the asking price to make an offer more attractive to a landlord
• Ban on rent in advance. The maximum rent in advance that landlords can accept in will now be capped at one month. UK based guarantors or guarantor companies are now more likely to be required if sufficient income cannot be verified to meet the affordability criteria to satisfy the referencing criteria
• Tenancies can only be ended by landlords if for certain reasons, for example if they need to move into the property themselves, need to sell or if the tenant is in breach of contract
• Increased protection for tenants in receipt of benefits or those with children
• Pets to be considered fairly

Assured Periodic Tenancies from 1st May 2026

• Will have no fixed term end date
• Tenants can leave at anytime with two months' notice in line with the rental period
• Tenants benefit from a 12 month protected period where the landlord cannot end the tenancy unless tenants are in breach of contract 
• Annual rent increases permitted in line with the market rate

At application stage:
Once you have viewed a property you would like to rent, you will be asked to email the details of your offer for us to put forward to the landlord. Should the landlord accept, the tenancy would become subject to contract, reference, right to rent and sanction checks.

The next stage would be to pay the holding deposit

Holding Deposit
The holding deposit is equivalent to one weeks rent and is taken once the landlord has agreed to proceed subject to referencing, right to rent checks and contract. The holding deposit reserves the property and removes its availability from the rental market, it does not constitute a guarantee of a tenancy. 

Please note: This will be withheld if any relevant person (including any guarantor(s) withdraw from the tenancy, fail to provide satisfactory references, 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 wiriting). 

Right to Rent checks: 
It is a legal requirement for tenants to evidence their Right to Rent in the UK before entering into a tenancy agreement, this includes British citizens. We will be able to guide you on what to provide based on your nationality.

Sanction Checks: 
The landlord/Penny & Sinclair will arrange a sanction check to be carried out on all tenants in advance of a tenancy starting.

Additional funds required before move in: 

Security Deposit - This deposit covers damages or defaults on the part of the tenant during the tenancy. Deposits are protected by a Government Approved Scheme.

• For rents up to £50,000 pa – equivalent of five weeks’ rent.
• For rents over £50,000 pa – equivalent to six weeks’ rent.

Further information available on request.

Rent

With your consent, the holding deposit will be allocated towards the first months’ rent. The remaining balance of the rent will be due the tenancy agreement has been signed by all parties and executed.
 

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.

 

Please contact a member of staff if you require more information

 

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 TERM LETS (Non-Housing Act Tenancies)
 

Before you move in:

Application and set-up fees:

• £240.00 inc VAT per applicant

• £90.00 inc 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 equivalent of five weeks’ rent (For rents up to £50,000 pa) or equivalent to six weeks’ rent (for rents over £50,000 pa). 

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

Property Type	Studio	1 Bed	2 Bed	3 Bed	4 Bed	5 Bed	6 Bed
UNFURNISHED	£116	£116	£128	£155	£215	£250	£294
PART-FURNISHED	£122	£122	£144	£170	£240	£264	£325
FURNISHED	£128	£128	£155	£190	£264	£294	£408

Please note all fees above are approximate and are inclusive of VAT at the prevailing rate.