What permitted payments can I expect to pay if I rent a property with Evolution Properties?
When you have agreed on the property of your choice, Evolution Properties will provide you with a Terms and Conditions Form. This helps explain not only the next stages of your application but any permitted payments which are due before you sign your Tenancy Agreement and any which may become payable during and after the tenancy. This will also include confirmation of the agreed rent and the deposit.
Below is a list of our current permitted payments. At any time that you are interested in a property, please ask a member of staff for a full breakdown of permitted payments that may be payable before, during and after a tenancy.
Holding Deposit (per tenancy) One weeks rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year) Five weeks rent. This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).
Security Deposit (per tenancy. Rent of £50,000 or over per year) Six weeks rent. This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).
Unpaid Rent. Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s). Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenants Request) £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlords instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenants Request) £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlords' instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenants Request). Should the tenant wish to leave their contract early, they shall be liable to the landlord's costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Client Money Protection is provided by UKALA. Redress through The Property Ombudsman Scheme.
All payments must be by BACS. We DO NOT accept cash, cheques or cards of any sort.
How do we ensure our tenants are protected?
We are a registered member of the UKALA Client Money Protection Scheme. This is a client money protection scheme to ensure your money is handled in the correct manner.
Download a copy of our UKALA Client Money Protection Certificate here.
You can review the UKALA Guidance on Client Money Handling here.