When you decide to rent a home, you need to budget not just for the monthly rent and household bills, but also the initial costs. We at Hammonds will normally ask you to pay a deposit in addition to the first months’ rent. A full breakdown of our Tenant fees can be found further down this page.
When you find a property that you like, we will ask you to pay a holding deposit or reservation fee in order to process your application. The amount of this payment will form part of the total deposit if your application is successful.
This payment may not be refunded to you if you decide not to progress with the tenancy application*, It will be returned to you in the event the landlord is unable to proceed. When the tenancy starts, you will be asked to pay the balance of the deposit + 1st Months rent less any holding deposit or reservation paid already.
This payment must be in cleared funds to enable the tenancy to commence. Should you not proceed with the tenancy we reserve the right to retain your holding deposit or reservation to meet any reasonable costs or loss of rent whilst the property was withdrawn from the market. This may apply whether you withdraw from the tenancy or are unable to proceed due to adverse references.
A deposit is a sum of money taken to be held as security for the performance of the agreement and can be used against any costs or damages at the end of your tenancy as detailed in your agreement.
Tenants costs of moving and renting
Holding Deposit In order to reserve the property
Fee: One weeks rent
The Rent As agreed for the property and specified in the tenancy agreement
Fee: Subject to agreement
Fee: 5 weeks rent
Change of tenancy agreement
Early Release Fee Where a tenant wishes to end their tenancy outside of the agreed terms of the agreement, they are required to cover the loss incurred by the landlord as a result of the early termination
Fee: £250 | Fee(VAT inc): £300
Late Payment of Rent Fee Where a rental payment is significantly delayed a fee will be applied to the payment due
Fee: Price on enquiry
Key Replacement Fee Where a tenant requires a replacement key or security device for their property