Deposit and Fees information

When renting a property, it’s important to understand the costs involved beyond monthly rent. At My House-NE, we aim to make this process as straightforward as possible.

Tenants are required to pay a security deposit, which is typically equivalent to one month’s rent. This deposit is held securely in a government-approved tenancy deposit protection scheme, ensuring your money is safeguarded and returned at the end of your tenancy, provided all terms of the agreement are met.

Damage deposits are payable one month before the tenancy start date.

We pride ourselves on transparency, which is why we don’t charge hidden fees. All our upfront costs, including the deposit, are clearly outlined before you sign your tenancy agreement. If you have any questions about deposits, fees, or the renting process, our friendly team is here to help.

Step by Step fees guide when letting a property.

  • To take a property off the market, a holding deposit is required, this is equivalent to one weeks rent per person and is payable at the beginning of the referencing process.
  • After the referencing is completed and satisfactory, the remainder of the first month’s rent per person is payable minus the holding deposit which was paid at the start. This then covers the first month’s rent for the property when you move in.
  • One month before the tenancy begins, a damage deposit is required, this is equivalent to one month’s rent per person. The damage deposit is registered within a government approved deposit protection scheme.
  • If you decide to leave the tenancy once you have signed, then a change in tenant fee is applicable in the total of £50.00

Important things to consider

  • All holding deposits are non-refundable, therefore, please ensure that you are certain you would like to take the property before putting the holding deposit down.
  • If you or guarantors fail referencing by providing incorrect information or failing to enter the tenancy agreement within the 15 days, then holding deposits will be retained.

Other Tenant Fees

Service Fee
Change in Tenant Paperwork £50.00
Advertising Room for a Tenancy Takeover 80% of one month’s rent