What will renting cost?

Holding Deposit

Applications for rental properties are subject to a holding deposit equivalent to one week's rent and only accepted once the initial application is agreed with the Landlord. It will be subject to satisfactory referencing as well as passing Right to Rent checks.

The holding deposit is non-refundable unless the Landlord withdraws from the agreed tenancy due to any reason other than failed Tenant referencing. If a Tenant fails referencing due to inaccurate information provided, the Tenant forfeits their holding deposit.

Deposits

Each tenancy will require a security deposit equivalent to 5 weeks' rent and will be secured with a Deposit Protection Scheme.

Move-in Monies

On or before your move-in day you will need to have paid and cleared the full outstanding funds for the upcoming tenancy. This includes the following:

  • First month's rent (or full rent in advance if agreed) minus the holding deposit paid to secure property.
  • Damage deposit (five weeks' rent).

Tenancy Charges

If there are changes to the Tenancy Agreement after it has started, the tenant will have to pay a £50+VAT charge. This amount will also be charged in the event of lost keys/security devices.

Should a tenant ask for an early termination of the tenancy, and the landlord agrees, it will be the tenant’s responsibility to pick up any payments associated with ending it early. This amount will be capped at the landlord’s loss, or our incurred costs as the agent.

Late Rent Payments

Gilbert & Rose reserve the right to charge 3% above the Bank of England base rate in interest on the late payment of rent from the date the rent payment is missed whereby the rent has been due for 14 days or more.

Our Redress Scheme

Gilbert & Rose Property Ltd are a member of The Property Ombudsman redress scheme (TPO ID: T03214-0).

Client Money Protect

Gilbert & Rose Property Ltd are a member of Client Money Protect (Membership No: CMP004841).