Deposits and Charges

Once you've found a property you want to rent, there will be some additional work that we will need to do to get you set up. We will also continue to work for you throughout the tenancy to help you deal with any issues that may come up.  

Below is a summary of the permitted payments Thomas Morris charges to tenants when setting up a new tenancy, and then throughout a tenant’s time in the property.

Permitted payments before moving in

Holding Deposit (with your permission this can be deducted from the first months rent)

• One week's rent to reserve the property. 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 week's rent. This covers damages or defaults on the part of the tenant during the tenancy.

Security deposit (per tenancy. Rent over £50,000 or over per year)

• Six week's rent. This covers damages or defaults on the part of the tenant during the tenancy.

 

Permitted payments after moving in which may be applicable to some applicants

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 that 14 days in arrears.

Lost key(s) or other security devices

• 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.

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 the landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as 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 for the landlord’s incurred costs in letting the property as well as all the rent under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent left outstanding on the tenancy.

Client Money Protection is provided by Propertymark. The redress scheme for Thomas Morris is The Property Ombudsman Scheme