Tenant Charges
Fees & Payments (as permitted under the Tenant Fees Act 2019)

• Holding Deposit  Equal to One week’s rent (deducted from the final moving-in balance)
  
  
• Security Deposit  Equal to 5 weeks rent for rents upto £50,000pa or 6 weeks if higher
  
  
• Change of Tenant/sharer  £50 inc VAT or reasonable costs if higher
  
  
• Failure to return keys + cost of changing locks  Full replacement costs
  
  
• Early Termination  Re-marketing costs (See below)
• Variation of Contract    £50 inc VAT (see below)

Data Protection
We will only use your personal data for the purpose of which it has been provided or for other lawful purposes. Your personal data will be held for as long as necessary for these purposes and will not be passed to any third parties, unless we are required to do so to provide you a service, or by law. Employees or any third parties we engage with to provide you a service, with access to your personal data, or are involved in the handling of your data, are obligated to respect the confidentiality of your personal data and comply with all the obligations imposed on them under the current GDPR (Data Protection Rules). For further details please see our Privacy Notice on our website www.michaelwright.co.uk/privacy-policy

Reserving a Property
Renting a property can be a fast-moving business and in order to reserve and secure a property and to ensure that we mark the property as ‘Under Offer’ on all websites and property lists, the following must be paid:

• A holding deposit equal to one week’s rent is payable to reserve a property.
  
  
• The rent in advance.
  
  
• The security deposit against any dilapidations or unpaid rent or outstanding costs (5 weeks rent), unless the annual rent exceeds £50,000 per annum, in which case the security deposit will be 6 weeks rent.
  
  
• Prospective Tenants who fail to complete these requirements within the prescribed time will forfeit their holding deposit and the property will be placed back on the market.

Moving in
Move in dates will take place on a day and time to be agreed between the prospective tenants and the landlord.

Please note that under no circumstances will tenants be checked into a property unless and until:

• All necessary payments have been paid in full and cleared funds have been received into our bank account.
  
  
• All references have been completed and applicants are confirmed as suitable Tenants by the independent referencing agency.
  
  
• All Tenants and Guarantors have signed the necessary legal documentation before the commencement of the Tenancy, i.e. before taking up authorised occupancy.
  
  
• Copies of passports and visas (where required) to complete the right to rent checks have been provided
  
  
• Each Tenant will be given one set of keys each. Any further sets required must be ordered in advance and will be at the Tenant's expense and providing the landlord gives written consent. All sets of keys must be returned at the end of the Tenancy.

Security Deposit
When you move into the property you will need to pay the security deposit which is held for the duration of the tenancy in strict compliance with the Tenants Deposit Protection regulations.
The amount of this deposit is usually the equivalent to 5 weeks rent and must be paid in cleared funds before the commencement of the tenancy. At the end of the tenancy, the security deposit will be used to offset any damage beyond fair wear and tear, or unpaid rent or outstanding costs for which the Landlord might need to be reimbursed.

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