Funds required before the tenancy starts payable to Binks Estate Agents (‘the Agent’)
• Security Deposit - Five weeks’ rent per tenancy where annual rent is under £50,000, or Six weeks’ rent weeks’ where annual rent is over £50,000. This is a refundable deposit to cover damages or defaults on the part of the tenant during the tenancy. It will be transferred by Binks to the DPS (Deposit Protection Service).
• Rent - The first month’s rent in advance.
Additional funds that may be payable to The Agent during the tenancy
• Payment of up to £50 (inc. VAT) if you want to change the tenancy agreement
• Payment of interest on any late payment of rent at a rate of 3% above Bank of England Base Rate
• Payment for actual costs reasonably incurred by the landlord as a consequence of the loss of keys and security devices by the tenant
• Payment of any unpaid rent and other reasonable costs associated with any early termination of the tenancy
Binks is a member of Propertymark Client Protection scheme (ref number C0003570). It is also a member of The Property Ombudsman (membership number D01094), which is a redress scheme.
You can find out more details on the agent’s website or by contacting the agent directly.