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Tenants charges and information

The purpose of this document is to provide guidance on Tenant charges and useful information. This should be read alongside the Tenancy Agreement and the Terms of Offer.

Holding Deposit

Holding deposits will be limited to a maximum of 1 week's rent and subject to statutory legislation on the repayment of this should the tenancy not go ahead. Briefly, this is proposed to be:

  1. The landlord has 15 days to make a decision once a holding deposit is taken.
  2. If the tenancy does not go ahead then the money must be repaid in full within 7 days of the deadline being reached or the landlord backing out.
  3. Repayment does not need to be in full if the tenant backs out of the tenancy agreement themselves, fails right to rent checks, has provided false or misleading information, or where the landlord tries their best to get the information needed but the tenant fails to provide it within the 15 days.
  4. If the tenancy does go ahead, the holding deposit must be returned within 7 days of agreement, unless it is converted into part payment of the actual deposit or used towards the initial rent payment.

Payment of Rent

The Rent in cleared funds is due on the Rent Due Date as specified in the Tenancy Agreement. Note that standing orders must be set up so that the funds leave your account three days before the Rent is due. The first instalment of Rent must be paid upon signing the Tenancy Agreement.

Deposit

A refundable deposit capped at no more than five weeks rent where the annual rent is less than £50,000, or six weeks rent where the annual rent is £50,000 or above. Where applicable, Capital Apartments will register the deposit monies with a Government-accredited tenancy deposit protection scheme. All deposit deductions must be agreed in writing by both Landlord and Tenant upon the termination of the tenancy. Any interest earned on the deposit shall be retained by Capital Apartments.

Interest on Late Payments

If rent is 14 days late interest may be charged at the rate of Bank of England Base plus 3% from the date the rent fell due until the date it is paid.

Early Termination Cost

Should you terminate your tenancy before the end of the term, you will be responsible to pay the Landlords cost of reletting the property plus the amount of rent owing until a new Tenant moves in up to a maximum of the total rent outstanding on the property.

Change of Tenants

It is your obligation to obtain written consent from the Landlord for any change in the identity of the Tenants. Upon receipt of this consent Capital Apartments will draw up a Tenancy Agreement for signature by all parties. A charge capped at £ 50 inc vat will be charged for this service.

References/Identification

We will follow up with references based on the details that you have supplied to us. These references may be passed to our client so that they can make a decision about granting a tenancy.

Insurance

The Tenant is advised to take out and maintain appropriate insurance on all of his/her own furniture, contents and effects in the Property.

Utilities

Where applicable you will be responsible for the payment of telephone, gas, water and electricity accounts and council tax at the Property during your tenancy. It is your responsibility to notify the relevant companies and the local authority that you are moving into/out of the Property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy, if required.

Taxation

If your Landlord is resident outside the UK we recommend you contact HMRC (https://www.gov.uk/government/organisations/hm-revenue-customs) to ensure you are compliant with the current regulations. Please note that Capital Apartments is not liable for the tax implications of rental payments to overseas Landlords. These provisions do not apply where you are paying your rent to Capital Apartments.

Client money protection

We carry Client Money Protection as part of the NALS Client Money Protection Scheme.

Management of the Property

At the start of the tenancy we will advise you who is responsible for managing the Property. Where we are not managing the Property we cannot authorise any repairs or maintenance or guarantee the speed at which repairs will be carried out. Where we are managing the Property, we may have to obtain the Landlord’s consent before proceeding with a repair.

Where we manage a Property and hold keys, the Tenant is to inform the Property Management Team if they want to be present when works take place. However, where we do not hold keys or the contractor is not willing to collect keys, it is your responsibility to provide access.

Complaints Procedure

If you have a complaint please contact us, preferably by email at info@lettings.co.uk, with a full description of the issue. We will then liaise with those relevant to help resolve your concerns.

Customer service is taken very seriously at Capital Apartments and in light of this we have a three stage complaints procedure:

  • Stage 1 - Informal: A person wishing to make a complaint should explain clearly what he or she is dissatisfied with, and what he or she wishes Capital Apartments to do. A response to a complaint at an informal stage will be made as soon as possible and in any event within 10 working days.
  • Stage 2 - Formal: A formal complaint will be recorded and acknowledged by our Senior Partner Steven Breslaw who will then write to the relevant department instructing them to investigate the complaint and deal with it appropriately.

A written response from the department will be provided within 20 working days. If this period is exceeded the customer will be informed as to why this is the case.

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