What happens next?

Offer/Application

Having decided on a property you will need to pay a non-refundable administration fee of £240.00 INC. VAT. This fee will include the cost of referencing for up to two tenants and will take the property off the market.

References

We will take references on behalf of the Landlord. Normally these will include your employer and any former landlord. In addition a credit check will also be undertaken. We use an independent credit referencing agency and the whole referencing process should take more than a week to complete. Reference forms need to be returned to us within 5 days of reserving the property. Where a Tenant is unable to meet the required income or credit checks, the Tenant may have a Guarantor agree to underwrite any rent liabilities, subject to the Landlord’s approval.

Rent

Rents are normally quoted on a calendar month basis. In addition, the Tenant is usually responsible for Council Tax, Water Rates, Gas, Electricity and Telephone costs. Tenants who are students are not liable for council tax and can ask for a letter from the university to confirm their student status.

Rents are payable by standing order monthly in advance, either to our Company bank account or to the landlord’s account, with the first month’s rent due before taking occupation of the premises.

Security Deposit

A security deposit will be required prior to occupation. This is normally equal to one and a half month’s rent, but may vary according to circumstance. The security deposit is held to cover any breakages, damage, or other tenant liabilities. Where we are managing the property and subject to the landlords instruction we will arrange for an independent inventory company to draw up an inventory at the start of the tenancy and at the end of the tenancy, we will arrange for the company to conduct a Check Out and assess any damages and deductions due. All of our managed properties security deposits are lodged with The Deposit Protection Service.

Tenancy Agreement

The tenancy agreement will be for a minimum of 12 months. Signing of the agreement will usually take place at the property to be rented and at that time you will be given the keys to the property. All completion monies must be paid 7 days before the tenancy begins.