Tenant Fees & Permitted Payments (APT contracts only) We do not charge tenants any fees for setting up a tenancy, referencing, or administration. Under the Tenant Fees Act 2019, the only payments we may ask of you are:
Holding deposit – one week's rent. This reserves the property while we complete referencing. It will be put towards your first rent payment or security deposit when the tenancy is agreed. We will refund it in full if you fail referencing despite providing accurate information, if the landlord withdraws, or if the tenancy is not agreed within 15 days through no fault of yours (or a longer period agreed in writing). We may retain it only if you provide false or misleading information, fail Right to Rent checks, withdraw, or do not take reasonable steps to enter the tenancy.
Security deposit – five weeks' rent (where annual rent is under £50,000). Protected in a government-approved tenancy deposit scheme; details provided within 30 days.
Rent – as agreed and stated in the advertised price. We do not invite or accept offers above the advertised rent.
During the tenancy, charges may apply only for: late rent (interest at 3% above the Bank of England base rate, after 14 days overdue); replacement of lost keys or security devices (reasonable cost, evidenced by receipt); changes to the tenancy you request (capped at £50 inc VAT); and early termination you request (capped at the landlord's loss or our reasonably incurred costs).
Smarter rent ltd is a member of The Property redress Scheme and PropertyMark Client Money Protect. Client money protection certificate available here