Rent: Your regular payment to your landlord for the use of the property. Charges apply for late payments – an annual percentage rate of 3% above the Bank of England base rate to the amount of rent that remains unpaid at the end of that day.
A holding deposit of no more than one weeks’ rent: This is a payment made by you (the tenant) to a landlord or an agent acting on the landlord’s behalf, to reserve that property.
A refundable Tenancy Deposit of no more than six weeks’ rent
Payment in the event of a default: Landlords and letting agents may require you (the tenant) to make a payment in the event of a default (e.g requesting a replacement for a lost key). The amount charged cannot exceed the loss suffered by the landlord.
Charging to vary a tenancy: Where you (the tenant) have requested it, landlords and agents can charge to vary, assign or replace a tenancy. Such fees are capped at £50 unless the landlord can demonstrate that greater costs were incurred.
Payment on termination of a tenancy: Agents and landlords can require you (the tenant) to make a payment for an early termination of the tenancy agreement at your (the tenants’) request. The payment cannot exceed the loss suffered by the landlord or reasonable costs incurred by the letting agent.