Consumer Rights Act 2015

Regulatory Information about Residential Lettings

Under the Consumer Rights Act 2015, letting agents have a duty to publish their fees. Outlined below are the standard charges that may be applicable to you, inclusive of VAT.

Tenant Fees Schedule: New Assured Shorthold Tenancies (ASTs) signed on or after 1 June 2019

Refundable 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:

Refundable 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:

Unpaid Rent: Interest at 3% above the Bank of England Base Rate calculated from the Rent Due Date until the Rent Paid Date. This will not be charged 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 or 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 (Tenant’s Request): £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request): £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early Termination (Tenant’s 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.

Tenant Fees Schedule: Common Law Tenancies

Application Fee: £200 (inc. VAT) application fee per applicant payable at the time of applying for any property to undertake financial credit checks, references and any other relevant information as well as contract negotiation (amending and agreeing terms) and arranging the signing of the agreement £100 (inc. VAT) guarantor application fee covering credit referencing and preparation of Deed of Guarantee

Move in Fee: £200 (inc. VAT) accompanied check-in fee, attending the property to welcome the tenant, confirm the inventory and schedule of condition, highlight the location of utility meters, stop cocks etc. and test all smoke alarms that are present and in working order.

Tenancy Renewal Fee: £100 (inc. VAT) tenancy renewal fee upon renewal of any fixed term agreement including contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.

Client Money Protection Scheme

O&C Management Services Limited are a member of the Money-Sheild Client Money Protection Scheme.

Download O&C Management Service’s Money Shield Client Money Protection Scheme Certificates.

Property Redress Scheme

O&C Management Services Limited are a member of The Property Redress Scheme.

Download O&C Management Service’s PRS Membership Certificate.

Landlord Fees Schedule

O&C Management Services Limited are agents for, and on behalf of, a single client. We do not charge fees to our clients for the agency or property management services we provide.