Tenant Information & Fees Guide

 

Tenant Information & Fees Guide

 

Our Approach

At Lifestyle Lettings & Management, we are committed to delivering a professional, transparent, and straightforward experience for all tenants.

We aim to:

  • Provide clear communication at every stage
  • Ensure a fair and compliant application process
  • Offer ongoing support throughout your tenancy
 

Holding Deposit (per tenancy)

One week’s rent.

This is required to reserve a property and will be offset against the first month’s rent upon successful application.

The holding deposit may be retained if any relevant person (including guarantors):

  • Withdraws from the application
  • Fails referencing or Right to Rent checks
  • Provides false or misleading information
  • Fails to enter into the tenancy agreement within 15 calendar days (or another agreed timeframe)

All applications remain subject to landlord approval.

 

Security Deposit (per tenancy)

  • Five weeks’ rent (where annual rent is below £50,000)
  • Six weeks’ rent (where annual rent is £50,000 or above)

This deposit is held to cover damage, cleaning, unpaid rent, or breach of tenancy obligations.

All deposits are protected in a government-approved scheme.

 

Referencing & Affordability Checks

All applications are subject to independent referencing, carried out by a third-party provider (currently Goodlord).

As part of this process:

  • Identity verification will be completed
  • Credit checks will be undertaken (including adverse credit such as CCJs or bankruptcy)
  • Employment and income will be assessed
  • Residential history may be reviewed

As a general guide, applicants are typically expected to demonstrate an income of approximately 30 times their monthly rent.

Where affordability criteria are not met, a suitable guarantor may be required. Guarantors are typically expected to demonstrate an income of approximately 36 times the monthly rent.

Students or applicants with limited income will usually require a guarantor.

All applications are assessed on a case-by-case basis and remain subject to referencing outcomes and landlord approval.

 

Rent Payments

Rent is payable monthly in advance.

In line with current legislation, no more than one month’s rent will be requested in advance at the start of the tenancy.

 

Unpaid Rent

Interest may be charged at 3% above the Bank of England Base Rate on overdue rent.

This applies once rent is more than 14 days overdue.

 

Lost Keys or Security Devices

Tenants are responsible for the full cost of replacing lost keys or security devices.

This may include:

  • Locksmith charges
  • New locks and replacement keys
  • Costs for all relevant parties requiring access

A reasonable charge of £15 per hour (including VAT) may apply for time spent arranging replacements.

 

Changes to Tenancy

Variation of Contract (Tenant Request)

£50 (including VAT) per agreed change.

Change of Sharer (Tenant Request)

£50 (including VAT) per replacement tenant, or reasonable costs if higher.

This includes referencing, Right to Rent checks, and legal documentation updates.

All changes remain subject to landlord approval.

 

Ending a Tenancy (Tenant Request)

Tenants may end their tenancy by providing the required notice in line with current legislation.

If a tenant requests to leave earlier than required, this will be subject to landlord agreement.

In such cases, the tenant may be responsible for:

  • Reasonable re-letting costs
  • Rent up to the agreed end date or until a replacement tenancy begins

All costs will be fair, reasonable, and confirmed in writing.

 

Company Lets

Where a tenancy is entered into by a company, a fee of £500 plus VAT (£600 total) will apply.

This fee covers:

  • Company referencing and verification
  • Director checks
  • Preparation of tenancy agreements
  • Compliance and legal documentation

This fee is payable prior to the commencement of the tenancy.

A holding deposit equivalent to one week’s rent may be required to reserve the property, subject to referencing and contract.

 

Referral Fees & Third-Party Services

Lifestyle Lettings & Management may receive a commission or referral fee from third-party providers in connection with services offered to clients and tenants.

These may include:

  • Insurance providers
  • Utility or broadband providers
  • Removal or relocation services
  • Financial or conveyancing services

This may be in the form of a fixed fee or a percentage of the service cost.

Use of any recommended provider is entirely optional, and clients and tenants are free to choose their own suppliers.

Full details of any referral arrangements are available upon request.

 

Right to Rent

All tenants must provide valid identification and proof of their legal right to rent in the UK.

 

Tenant Information

Tenants will be provided with all required information relating to their tenancy, including any government-prescribed documentation, in line with current legislation.

 

Important Information

  • All applications are subject to referencing and landlord approval
  • All payments comply with the Tenant Fees Act 2019
  • This document reflects current legislation and may be updated as required