All tenants taking a house will have to pay a deposit for the property. All students taking a property will have to pay a £150.00 bond. Professionals will have to pay a bond, equivalent to one month’s rent, for example: If the rent is £450.00 per calendar month, then a bond of £450.00 is required.
An administration fee of £150.00(including VAT) is also required on signing the contract.
Your bond will be protected by Tenancy Deposit Solutions Ltd (www.mydeposits.co.uk). For multiple occupancy houses deposits can be held in one of two ways:
Individually for each tenant. This will incur a non-refundable cost of £35.00 per person.
As a house. We will require one tenant to be named as the ‘Lead Tenant’ for Tenancy Deposit Solutions who will be the point of contact.