News Archive for July 2023

Is Leicester a good area for landlords to invest?

Leicester can be a promising area for landlords to consider for investment, but like any other location, it is essential to conduct thorough research and analysis before making a decision. Here are some factors to consider:

Written by: First 4 Lettings

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Is the student rental market in the UK declining?

The student rental market in the UK is not declining. In fact, it is one of the most resilient markets in the UK property market...

Written by: First 4 Lettings

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How can landlords reduce their costs in 2023?

In 2023, landlords can employ various strategies to reduce their costs. Here are some specific approaches that may be beneficial ...

Written by: First 4 Lettings

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Fees

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PERMITTED PAYMENTS

As well as paying the rent, you may also be required to make the following permitted payments:

1) Holding Deposit: Up to one week’s rental

2) Deposit: One month’s rental (5 weeks rental dependent on individual’s circumstances)

3) Payments for utilities (gas, electricity & water), communication services (telephone & broadband), Installation/Subscription of cable/satellite, TV licence and council tax

4) Default Fee (late payment of rent): If full Rent is not paid within 14 days or more of the Rent Due Date there will be a charge 3% plus the Bank of England base interest rate of the full rental amount until full payment is received

5) Default Fee (breach of tenancy agreement, any other permitted payments, under relevant legislation including contractual damages): For any breach of the tenancy agreement based on the reasonably incurred costs of the agent or landlord

6) Replacement of keys, fobs or other security devices

7) Default Fee (changes to the tenancy): An administrative charge of £50.00 or greater for any assignment, variation or novation of the tenancy agreement made at the tenant’s request (only if agreed by The Landlord and/or The Landlord’s Agent)

8) Payments in respect of early termination of a tenancy agreement at the tenant’s request


TENANT PROTECTION

First 4 Lettings is a member of Client Money Protect which is a client money protection scheme, and also a member of PRS (Property Redress Scheme), which is a redress scheme.