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Tenant Payments

Prospective tenants interested in renting a property through Hanover will need to be aware of the following payments due prior to the commencement of a tenancy and during the Tenancy:

 

A refundable holding deposit:

The equivalent of one weeks rent is to be paid to Hanover in order to remove the property from the market and commence referencing. The ‘deadline for agreement’ for both parties is usually 15 days after a holding deposit has been received by a landlord or agent (unless otherwise agreed in writing). Please note, this deposit is non-refundable if you provide false or misleading information. Should the tenancy proceed, Hanover can either refund the holding deposit directly to you or put it towards your rent or security deposit (subject to your consent).

 

The rent

 

Security Deposit:

Prior to the tenancy, you will be required to pay a security deposit capped at no more than five weeks’ rent where the annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above.

 

Payments to amend the Tenancy agreement:

You will be liable to pay an administration charge of £50 inc VAT (or reasonable costs incurred if higher) for any amendments required during a tenancy. e.g. a change of Tenant.

 

Payments to terminate the Tenancy agreement early:

You will be responsible for all payments associated with early termination of the tenancy, when requested by you as the Tenant.

 

Utility bills:

You are responsible for all payments in respect of utilities, communication services, TV licence and council tax unless stated otherwise within the Tenancy Agreement.

 

Late payment of rent:

If you are late in paying rent, you will be liable to pay interest at 3% above the Bank of England Based Rate from the rent due date.

 

Replacement of keys:

You will be responsible for the costs incurred for the replacement of a lost key/security device, where required under a tenancy agreement.