Rising lettings prices

The lettings market continues to rise with a Rightmove report revealing a 0.7 per cent increase in property prices being listed in the last month. This is actually seen as a return to normality as the average September increase over the last 10 years is 0.6 per cent.

The growth was highlighted in three bedrooms and non-detached 4 bedroom options, having their average price reaching £340,513.

It should be noted that this all happened before the expected increase following the government's stamp duty announcement, something that will create a likely curve away from the standard winter property trends.

 

Written by Toby Dawson

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Fees

TENANT FEES - NEW ASSURED SHORTHOLD TENANCIES (AST's) SIGNED ON OR AFTER 1 JUNE 2019

Holding Deposit - One week's rent, apportioned to first month's rent

Security Deposit - Five weeks rent if rent per annum below £50,000, six weeks rent if above £50,000

Unpaid Rent - Interest at 3% above the Bank of England Base Rate. Interest will not be applied until the rent is 14 days in arrears.

Lost Keys -  Tenants are liable for the cost of replacing any lost keys and/or security device including the costs of replacing any locks and/or security device if required. 

Changes to the tenancy agreement (Tenant's Request) - £50 inc. VAT (or reasonable costs if higher). 

Early Surrender of tenancy (Tenant's Request) - Should a tenant require an early surrender of their tenancy and should the landlord agree, the tenant will remain liable for the rent due under the tenancy until the date a new tenant takes up occupation of the property. The tenant will be required to cover the landlord's costs in connection with the  surrender of the tenancy and the re-letting the property