Client Money Protection

TENANCY INFORMATION

Application payments:

If you wish to apply to rent a property through G D ACCOMMODATION Ltd (the Agent), then you are required to pay a holding deposit which is equivalent to one weeks rent which is payable upon application.  It can be retained by the Agent to cover administration costs if the tenant withdraws, fails Right to Rent checks, imparts false or misleading statement or fails to take reasonable steps to enter into a tenancy. The holding deposit forms part of the first month’s rent should the tenancy proceed.
Should the Landlord or Agent withdraw from the application, then this sum will be refunded to the tenant within 7 days of withdrawal.
Security Deposit will be required and capped at 5 weeks rent for rents of up to £50,000 per annum.

The following payments are permitted during terms of tenancy:

Early termination of tenancy without the one month’s notice given : The tenant is liable to pay the landlord’s agency set-up costs to remarket the property and facilitate a new tenancy.  This cost is payable to the agent in advance of remarketing.
 
Lost keys or security devices: Tenants are liable for actual costs of replacing lost keys or other security devices. If the loss results in changing of lock(s), the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord and any other parties requiring keys will be charged to the tenant. Any associated extra costs will be chargeable at £15 per hour.
Rent arrears: Interest on rent arrears maybe charged at 3% above the Bank of England base rate and levied once the rent is over 14 days late.
 
Our clients are protected by ‘Client Money Protection’ ( UKALA membership No: 190963) which has cover in an insurance cover that protects landlords and tenants against the theft of their money, whilst in the custody and control of an agent. The limits of compensation that it provides to landlords and tenants of UKALA members are : A maximum of £ 100,000 any one incident of theft committed by a UKALA member to any one landlord or tenant. This cover is for theft of clients money, which is the care, custody or control of the insured (a UKALA member) by a Principal, Partner, Director or Shareholder (acting on behalf of the member). “
G D Accommodation is a members of a redress scheme with The Property Redress Scheme (PRS) Ltd, Premiere House, 1st Floor, Elstree Way, Borehamwood, Hertfordshire Tel: 0333 321 9418, email : info@theprs.co.uk.
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