Fees & Terms
for Tenants

At Akai Homes, we believe in being clear and transparent from the outset. Below is a full breakdown of fees and key terms for tenants, depending on the type of tenancy.

All fees listed are inclusive of VAT, where applicable.

If you have any questions at any stage, please speak to a member of our team — we're always happy to help.

Assured Shorthold Tenancies (AST)

(Fees permitted under the Tenant Fees Act 2019 – England)

Holding Deposit

Equivalent to one week's rent

Reserves the property for up to 14 days while referencing and Right to Rent checks are completed

The holding deposit may be retained if:

• you withdraw your application,
• you provide false or misleading information,
• you fail Right to Rent or referencing checks,
• or you fail to enter into the tenancy agreement within the agreed timeframe

Tenancy Deposit

Up to £50,000 per annum rent:
Equivalent to five weeks' rent

Over £50,000 per annum rent:
Equivalent to six weeks' rent

The deposit will be protected in a government-approved Tenancy Deposit Scheme and returned in line with the terms of your tenancy agreement, subject to any agreed deductions.

Changes Requested by the Tenant

Variation of contract: £50
(e.g. changes to tenancy terms after signing)

Change of sharer / additional sharer: £50 per replacement or additional tenant
(or reasonable costs incurred if higher)

Early Termination (Tenant Request – Subject to Landlord Consent)

If the landlord agrees to an early termination, the tenant will be responsible for:

• all rent due until a replacement tenancy begins, and
• the landlord's reasonable costs, including any agent re-letting fees.

The landlord is under no obligation to agree to an early release.

Unpaid Rent / Returned Payments

Interest charged at 3% above the Bank of England base rate, calculated daily from the due date until payment is made.

Lost Keys or Security Devices

Tenants are responsible for:

• the cost of replacing lost keys or security devices, and
• any associated costs (e.g. locksmith).

Call-Out Services

£30 per hour, and/or the contractor's invoice
Charged where a visit is required due to tenant action or inaction.

Cancellation / No-Show

£30 per visit, plus any contractor costs
Applies where an appointment is cancelled with less than 24 hours' notice or access cannot be gained.

Non-Assured / Company Let Tenancies (Non-AST)

(These fees are not subject to the Tenant Fees Act)

Holding Deposit

Equivalent to two weeks' rent

Reserves the property for up to 14 days

Retained if you withdraw, fail referencing, or do not proceed with the tenancy

Deposit

Equivalent to six weeks' rent (unless otherwise agreed)
Protected in a recognised Tenancy Deposit Scheme.

Additional Fees (Non-AST Only)

Stamp Duty (Non-AST Only)

Stamp Duty Land Tax may apply where annual rent exceeds £125,000, charged at 1% on the amount above £125,000.
This is the tenant's responsibility.

Early Release (All Tenancies – Subject to Landlord Consent)

If the landlord agrees to release the tenant early (outside of a contractual break clause), the tenant will be liable for:

• the equivalent of the letting fee paid by the landlord for the remaining term,
• the landlord's cost of preparing a new tenancy agreement,
• deposit registration fees,
• inventory check-out and check-in costs.

The landlord is under no obligation to grant early release.

Important Tenancy Conditions

By entering into a private residential tenancy agreement, tenants agree that they will not, without the landlord's prior written consent:

• Sublet the property
• Advertise the property in any form (including online, social media, or messaging apps)
• Take in paying guests or lodgers

References, Right to Rent & Compliance

• All tenants (and guarantors, where applicable) will be referenced using a professional referencing service
• Right to Rent checks are carried out in line with the Immigration Act 2014
• Anti-Money Laundering checks may be required and may leave a search footprint
• Proof of address may be requested (e.g. utility bill or bank statement dated within 3 months)

Payments

Initial payment typically includes:

• first instalment of rent,
• deposit,
• any applicable fees.

Payments must be made by bank transfer.
Cash payments are not accepted.

After move-in, tenants are required to set up a standing order for future rent payments.

Utilities & Insurance

Tenants are responsible for:

• gas, electricity, water,
• council tax,
• TV licence,
• telephone and broadband,
• contents insurance (strongly recommended).

Inventory Check-In & Check-Out

An independent inventory clerk is usually appointed.
Tenants are strongly encouraged to attend both check-in and check-out appointments to avoid disputes.

Redress & Client Money Protection

Akai Homes is:

• a member of The Property Ombudsman, and
• covered by Client Money Protection through Money Shield.