For many people, letting a property is the perfect solution to their housing requirements, either for the short or long-term. We've put together the following guide for anyone considering letting a property with us, and it should answer all the questions you may have.
To successfully secure a property, subject to references, an applicant will need to place a deposit with the agent of £200 per property. This will then be placed towards the final costs of the tenancy.
The deposit is non-refundable should the tenant decide not to proceed with the letting or where references prove unsatisfactory. The deposit will be refunded in cases where the landlord decides not to proceed with the letting.
We undertake references through a credit referencing agency. Each applicant (who must be 18 years of age or older) must complete an application form which we will submit to the credit referencing agency.
The costs associated with this are as follows. All are exclusive of VAT and non-refundable:
APPLICANT |
COST |
| Each individual | £75.00 |
| Guarantor | £75.00 |
| Company | £75.00 |
| Overseas clients | £75.00 |
A guarantor may be required to support an application for tenancy and in this event he/she may also require referencing. A guarantor will also be required to sign a legal and binding agreement applicable to the full-term of the tenancy for which they are contractually bound to pay the rent.
Regrettably, we are unable to process applicants on housing benefit unless supported by a guarantor and with the agreement of the landlord.
A maximum of four sharers will be considered and groups larger than four should contact us prior to arranging viewings.
It's necessary that we receive proof of residency and identification for all applicants prior to them undertaking a tenancy.
Acceptable proof of identity includes:
All persons (over 18 years of age) wishing to live at the property must be named on the Tenancy Agreement and sign the agreement. Unless expressly agreed under a release clause, you are committed to pay the full rent for the entire term. Each tenant is jointly and severally responsible for the rental payment, and if one person fails to pay it is incumbent on the other(s) to pay the rent.
You will be required to pay a deposit (bond) on letting the property which will either be held by the agent or landlord against dilapidations or other sums due under the Tenancy Agreement. You will be advised on whom is holding your deposit at the outset of your tenancy.
The deposit will generally be a sum equivalent to six weeks rent or a sum otherwise agreed by the landlord.
In cases where our Lettings and Property Management team are managing the property on behalf of the landlord an inventory/schedule condition will be drawn up by either the agent or the landlord, which will be given to you on signing of the Tenancy Agreement.
You will be asked to check its contents and return it within four days of the commencement date of the tenancy. Should the inventory not be returned by the tenant the copy issued will be held to be a true and accurate reflection of the property and it will be this inventory on which all subsequent inspections and the check-out is conducted.
In cases of our Let Only service the landlord will inform you of the inventory and check-in and check-out procedures for property.
To secure a property:
On commencement of the tenancy a further payment of:
All monies need to be in cleared funds. Unless full payment is received the agent will not be able to allow the signing of the Tenancy Agreement and give you the keys to the property.
Once renting you will be responsible for:
With us as managing agents, rent will be required to be paid by standing order and you will be asked to complete a form upon signing the
As detailed, all tenants are jointly and severally responsible for rental payments and it's therefore up to the individuals involved to ensure that payment is made in full via one standing order and make private arrangements themselves on how this is to be achieved. We will not accept payment from an individual not named on the agreement.
Unless expressly agreed otherwise under the terms of the tenancy, tenants are required to pay:
This is applicable from the commencement to the termination of the tenancy.
It's tenants responsibility to hold a valid TV licence whether the landlord has provided a television or not.
The occupants are responsible for insuring their possessions within the property.
Many landlords require that the tenant has adequate contents insurance before allowing the Tenancy Agreement to be signed. Please speak with us for assistance in this matter should cover be required.
You will be informed on signing the Tenancy Agreement who you should contact in cases of property maintenance and repairs. Please be aware that tenants are responsible for minor tasks such as changing light bulbs, vacuum cleaner filters and bags. Under the agreement the tenant may be responsible for the cost of repair or replacement where they have acted carelessly or in a negligent manner.
The Tenancy Agreement will give you the terms by which you agree to live at the property. These may incorporate regulation or terms of the landlord's head lease, should he own the property under a long lease. These will be made available to you at the commencement of the tenancy.
It's important you that read and understand all terms and conditions set out within the Tenancy Agreement prior to signing it.
From December 2003 the legislation with respect to rental property changed. The obligation to pay Stamp Duty became the responsibility of the tenant where the net present value exceeds £125,000 per tenancy. The net present value (NPV) applies a discount to allow for inflation. In most cases the total rental value will be a close approximation on whether Stamp Duty Land is liable.
A property is let at £1,000 per month for 12 months. The total rental value will be £1,000 x12 = £12,000 which is below the SDLT limit.
Should we believe that SDLT will be payable on your tenancy we will duly inform you.
We endeavour to ensure that all our property details are reliable and accurate but they should not be relied upon as statements or representation of fact and they do not constitute any part of an offer or contract. We highly recommend that all information, which we provide is verified by yourself.
