Tenancy information

Fees Apply

If you choose to rent a property through Gibson Lane we will require the following:

Before the start of the tenancy a holding deposit of 1 weeks rent equivalent is required to secure a property and proceed with reference checks. A security deposit equivalent to 5 weeks rent, in addition to the first month’s rent in advance must be paid. This is subject to contract and referencing.

Permitted Payments

Holding Deposit:

1 Weeks rent equivalent (Rent X 12 divided by 52)

Rental & Utility Bills:

Payable as outlined in the tenancy agreement.

Security Deposit:

5 weeks rent equivalent (calculated by dividing the annual rent by 52 and multiplying by 5)

Default Fees & Damages

Late Rental Payment:

For late rental payments where the rent payment has been outstanding for 14 days or more from the date set out in the tenancy agreement, Gibson Lane will charge a default fee of 3% above the Bank of England’s base rate for each day that the payment has been outstanding.

Lost key or security device giving access to the property/premises:

Gibson Lane will charge the tenant the actual cost of replacement for a lost key or equivalent security device.

Changes to a Tenancy:

Contract variation, novation, amendment or change of occupant at the tenant's request within an existing tenancy- £50.00

Please note the following points outline a holding fee being retained by Gibson Lane:

Providing false or misleading information which you can reasonably consider when deciding to let a property – this can include a tenant’s behaviour in providing false or misleading information

Failing a right to rent check

Withdrawing from a property (unless a landlord or agent imposed a requirement that breached the ban or acted in such a way to the tenant or relevant person that it would be unreasonable to expect a tenant to enter into a tenancy agreement with them)

Failing to take all reasonable steps to enter into a tenancy agreement and the landlord or agent takes all reasonable steps to do so (unless a landlord or agent imposes a requirement that breaches the ban or acts in such a way to the tenant or relevant person that it would be unreasonable to expect a tenant to enter into a tenancy agreement with them).

Gibson Lane are registered with ARLA Propertymark and offer Client Money Protection.