Holding Deposit - £300
This fee is to reserve the property you have decided to take and is non-refundable. As a result we wonít show this to anyone else until a conclusion is reached with you. This fee will be deducted from the due deposit before you move in. This fee, along with the admin fees is required before any work begins into arranging your tenancy.
Admin Fees - £150 Per Person
References are taken up on all prospective tenants using an approved referencing company, in order to satisfy landlords that their property is likely to be well looked after and that the rent will be paid on time. Each prospective applicant is liable to pay an administration charge of £150. The administration charge is non-refundable in the event that references prove unsatisfactory or the tenant withdraws the application before completion. If inconclusive information has been obtained on the prospective tenant it will be necessary to provide a guarantor to act as security for the term of the tenancy. Additional references for the guarantor will be charged at the same rate. The guarantor will need to be a UK resident and will have to provide similar references to those required for the proposed tenant.
Deposit Ė 6 weeks rent
A security deposit is required to the equivalent of 6 weeks rent. If we are managing the property, the deposit will be held in a client account as part of the tenancy deposit scheme for the duration of the tenancy to offset any costs to remedy any breach of the tenancy agreement. If the landlord is managing the property, they would also be obliged to put the deposit into a deposit protection scheme. The deposit cannot be used towards the last months rental payment.
Tenancy Agreements - No Charge
The cost of this is covered under the admin fees.
Initial Month's Payment
The first rental installment plus deposit must be received in cleared funds before the date the tenancy commences.
Inventory and Check Out Fees
Before the tenancy commences an Inventory clerk will draw up an Inventory to provide a detailed schedule of condition of the property together with its contents. The Inventory is a form of protection against disagreements at the end of the tenancy. Preparation of the Inventory is charged to the landlord. There may be a check out fee payable by you depending on what arrangements the landlord makes.
As soon as a suitable property has been found, you will need to complete reference application forms. We utilise the services of a credit-referencing agency to take up the following references, here†is an example of†just a few of the references sought:
- Confirmation of employment, salary confirmation.
- Personal & Photographic identification (passport or driving licence).
- Previous Landlord references.
- Students (Guarantor or proof or funding).
- Self-Employed (Accountants references, trading details etc)
Both the Landlord and tenant/s will be required to sign a tenancy agreement prior to the tenancy commencing, the agreement outlines both tenant and landlord obligations.
Generally, most tenancies run for a period of twelve months, we will contact you at the end of the tenancy to see whether you wish to renew your agreement for a further period and will liaise with the landlord to organise the documentation. It is important you note that the agreement is made between landlord and tenant, we act for the landlord only.
By legal requirement we will issue you with a sample template agreement which we ask you read very carefully, should any questions arise regarding this legal document we advise you to seek independent legal advice.
We do get instructed to fully manage some of our landlordís properties, if this is the case, with your tenancy we will inform you prior to your tenancy commencing. If we are managing then any faults with appliances or problems within the property will need to be reported to us and we will deal with the problem as quickly and efficiently as possible. Failure to report an ongoing problem may turn the onus onto you; please report any problems you feel need attention.
Rental payments are always made by standing order from the tenantsí bank account to the landlordís bank account, with the exception of managed properties whereby the rental payment is made to us.
To terminate your tenancy subject to term, you will normally be required to give us at least one month notice in writing of your intention to leave, unless otherwise specified in your specific tenancy agreement.Insurance
The responsibility for your belongings are down to you, you must ensure you have adequate contents insurance, the landlord accepts no responsibility and cannot be held responsible for any loss or damage to tenants possessions.
A well-prepared inventory and check-in report protects landlords and tenants alike, providing an accurate description of the condition and contents of a property at the start of a tenancy.
The condition of the property and its contents at the end of the tenancy is then compared back to this report in the form of a check-out report. The inventory clerk will also provide an opinion on whether any damage that has arisen during the tenancy is attributable to the tenants, to Ďfair wear and tearí or to the landlord as required maintenance.
It is in a landlordís interest to ensure that inventories are prepared for properties that they own. In the worst case scenario, should you end up in court, the judge will tend to look more favourably on an impartial, unbiased inventory prepared by a third party unconnected to either the landlord or the tenants. Inventories prepared by landlords could be viewed as biased and one-sided.
Normally an inventory of the property condition, furniture and fittings and effects will be prepared by the landlord, or an independent inventory clerk instructed by the landlord prior to the tenancy commencing. The tenancy is checked and agreed between the tenant and the landlord at the tenancy commencement.
The responsibility for the property lies with the tenant during the period of tenancy, always ensure that the property is fully secured and that during the winter months steps are taken to prevent freezing of the water and heating system.
If we are instructed as managing agents for your property, we will carry out quarterly inspections to assess the condition of the property and that everything is being kept in a satisfactory condition. We will always arrange this with you at a mutually convenient time.
It is the tenantís responsibility to inform the utility companies of their occupation of the property at the commencement of the tenancy, and to pay council tax to the local authority. Students, who may be exempt from the payment of council tax, are responsible for informing the Local Authority of this.†
Wherever applicable VAT will be charged at the current VAT rate.