Once you have found a property that you would like to rent we will put forward the terms of your offer to the Landlord. All offers following agreement of the terms remain Subject to Contract and Satisfactory References, until the signing and dating of the tenancy agreement by both Landlord and Tenant, and the receipt of satisfactory references.

TENANT EXPENSES FOR A TENANCY (new Assured Periodic Tenancy (APT) from 01/05/2026)

The Tenant Fees Act 2019 came into force on 01/06/2019, the fee ban applied to an Assured Shorthold Tenancy (AST) and from 01/05/2026 it applies to an Assured Periodic Tenancy (Renters Rights Act 2025). 

You can charge tenants or potential tenants the following payments in connection with a tenancy:

• the rent if you and the tenant have signed the tenancy agreement
• a refundable tenancy deposit
• a refundable holding deposit to reserve a property
• a payment to change the tenancy when requested by the tenant
• a payment when the tenant does not give the correct amount of notice including utilities, communication services and council tax as part of the rent when not paid separately
• a fee for late payment of rent
• a fee for replacing a key or security device

You cannot charge a tenant any payment that is not on this list.

Holding Deposit (per tenancy) equal to One week’s rent 

To reserve a property. This will be offset against the first month’s rent or tenancy deposit, as agreed.
Tenancy Deposit (per tenancy)
Annual rent below
£50,000      Five weeks’ rent

Annual rent above
£50,000      Six weeks’ rent
The tenancy deposit covers damages or defaults on the part of the tenant during the tenancy and will be protected in a government-authorised tenancy deposit scheme. Properties with an annual rent of more than £100,000 are not covered by the Tenant Fees Act.

Rent

The rent payable for the tenancy must not be more than the advertised amount. The rent period must either be one calendar month or a shorter period of up to 28 days. A tenant will be able to end a tenancy by giving two months’ notice in writing. The end date of the tenancy must align with the end of a rent period.

Rent in advance of move in date
Rent is payable following signing of the tenancy agreement and in accordance with the agreed tenancy terms. For tenancies entered into on or after 1 May 2026, no more than one month’s rent may be requested in advance.

Late Payment of Rent
Interest may be charged on unpaid rent if it remains outstanding for more than 14 days. Interest will be charged at a maximum of 3% above the Bank of England Base Rate from the date the rent became due until payment is made.

Lost Key(s) or other Security Device(s)
Tenants are liable for the actual cost of replacing any lost keys or security devices. If the loss results in locks needing to be changed, or replacement security devices being issued, the tenant will be charged the reasonable cost of a locksmith or security engineer, new lock and replacement keys/devices for all relevant parties.

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 reasonable costs incurred if higher. Includes referencing, Right to Rent checks, deposit registration and legal
documentation.

Early Termination (Tenant’s Request)
If the tenant wishes to end the tenancy early (including where less than the required notice period is given), they will be liable for the landlord’s reasonable costs. Under an Assured Periodic Tenancy, then the landlord can charge a fee if their tenant does not give the correct amount of notice. The usual amount of notice is two months. The landlord can charge up to the amount of rent they would have received if the tenant had given the correct amount of notice.

For Common Law non Housing Act Tenancies

If your offer is accepted you will be asked to pay a Holding Deposit which is the equivalent to one weeks rent and the Tenancy Set up Fee. The Holding Deposit will be refunded to you at the commencement of the tenancy but not including the Tenancy Set up Fee (by means of deduction from the monies due as stated on the tenant statement) or in the event that the Landlord decides for any reason not to proceed. Should you change your mind about moving into the property, or the tenancy cannot proceed because your references are not forthcoming or prove unsatisfactory, this sum will be retained by Paul Lee & Company. After negotiations have been completed and the terms of the tenancy are agreed the following payments will be required:

• An initial rent payment in advance either calendar monthly or quarterly (based on the calculation of the agreed weekly rent multiplied by 52 weeks and divided by 12 months to equal the calendar monthly rent. The monthly rent if applicable is then multiplied by 3 to equal the quarterly rent).
• A tenancy deposit equal to six weeks rent if no pets or equal to eight weeks rent with pets of the agreed rent, i.e. £400.00 per week multiplied by 6 equals £2,400.00.
• A Tenancy Set up Fee of £85.00, inclusive of VAT charged per Tenant, as a one- time cost for the entire term of the tenancy to include any tenancy renewals. The Tenancy Set up Fee includes the cost of referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / Landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms), arranging the tenancy, the provision of the tenancy agreement, associated tenancy documents and the protection of the tenancy deposit with the TDS (please refer to the Deposit heading in our Tenants Guide). Please note, the tenancy deposit does not form part of the agent’s fees.
• If the Landlord pays for and supplies you with a professional inventory report at the commencement of the tenancy, the Tenant agrees to then pay for the inventory check out at the end of the tenancy. The current cost for check outs, charged by the inventory clerk that we use range between £138.00 for a one bedroom property, £150.00 for a two bedroom property, £162.00 for a three bedroom property, £228.00 for a four bedroom property and £276.00 for a five bedroom property. Please note, we do not request an additional agent handling fee on top of this charge.
• Please note, if the property we have found you is through another Letting Agent then they will confirm to you their Tenancy Set up Fee and charges.

The initial monies paid to the Agent must be in cleared funds, the first payment is payable by bank transfer BACS or CHAPS to the Agents Clients Account and thereafter payments of rent should be made by bank standing order. You will be advised in writing if the future rental payments are made to the Agent or the Landlord.

Please contact us for clarification on these fees.