Administration Fees



GUIDE TO CHARGES FOR APPLICANTS

Following the legislation changes which came into effect on the 1st June 2019, Cambs Property Bureau Ltd no longer charge Applicants applying for a Tenancy using an Assured Shorthold Tenancy an Administration Fee.

However, please note that the following Charges can and may still, be made:
Pay the reasonable cost of providing replacement keys or security devices for the property up to a maximum of £50 including VAT or greater where receipts or evidence are provided to show costs incurred.

Pay the reasonable costs, a maximum of £50 including VAT or greater where receipts or evidence are provided to show costs incurred for each amendment and/or change to the Tenancy Agreement requested by the Tenant and agreed by the Landlord.

A default charge for late payment of Rent of 3% above the Bank of England Base rate where the Rent payment is more than 14 days overdue can and may be charged.

Pay, where a surrender of the Tenancy has been agreed, any losses incurred on acceptance of the surrender, which could be but not limited to the remaining rent for the term, re-advertising costs, utility supply costs, council tax and costs for any legal services retained.

Please note that in order to reserve a Property, payment of a Holding Deposit equivalent to one weeks' Rent will be required (Rent x 12 ÷ 52).  This will be withheld if any applicant (this includes, where needed, any Guarantor(s)) withdraw from the tenancy application, fail the Right-to-Rent Check, provide false or misleading information or fail to sign their Tenancy Agreement (and/or Deed of Guarantee) within the agreed timescale notified in writing.

Holding Deposit monies will be held until the start date of the tenancy and allocated to the first months' Rent.

Where a non-Assured Shorthold Tenancy Agreement is required (Company Let) there is a standard charge of £360 which is non-refundable if the Application is withdrawn by the Applicant or failure of any References which are taken up.

The Deposit for the applied Property shall be a maximum of five weeks Rent (Rent x 12 ÷ 52 x 5) and will be due along with the first months' Rent, three days prior to the commencement of the Tenancy.  The Deposit will be registered, submitted and secure in The Deposit Protection Service within the legislative timescale.

 

For further information please call 01954 260200 or email enquiries@cpbm.co.uk

Cambs Property Bureau Ltd are registered Members with The Property Ombudsman Redress Scheme (Membership Number D10545)

Cambs Property Bureau Ltd are registered Members of CMP (Client Money Protect) (Membership Number CMP004202)

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