Guide To Renting
- Confirmation of employment, salary confirmation.
- Personal & Photographic identification (passport or driving licence).
- Previous Landlord references.
- Students (Guarantor or proof of funding).
- Self-Employed (Accountants references, trading details, Tax Returns etc)
This is in order to reserve the property and remove it from our availability list. The holding deposit will be deducted from the first month’s rent due, should the tenant withdraw from the proposed letting, through no fault of the landlord or the agent, all or a proportion of the ‘Holding Deposit’ will be retained in order to cover any reasonable costs (which will be outlined in full). None of the Holding Deposit will be retained should the Tenant’s withdrawal be due to a breach of the proposed letting agreement by the landlord or managing agent.
The holding deposit shows good faith on the part of a prospective tenant enabling the landlord to take further action in the confident knowledge that the applicant is serious and fully committed to the property.
From 1 June 2019, The Tenant Fees Act came into force which bans most letting fees and caps tenancy deposits paid by tenants in the private rented sector in England.
The ban on tenant fees applies to new or renewed tenancy agreements signed on or after 1 June 2019.
From 1 June 2019, the only payments that landlords or letting agents can charge to tenants in relation to new contracts are:
- a refundable tenancy deposit capped at no more than 5 weeks’ rent where the total annual rent is less than £50,000, or 6 weeks’ rent where the total annual rent is £50,000 or above
- a refundable holding deposit (to reserve a property) capped at no more than 1 week’s rent
- payments associated with early termination of the tenancy, when requested by the tenant
- payments capped at £50 (or reasonably incurred costs, if higher) for the variation, assignment or novation of a tenancy
- payments in respect of utilities, communication services, TV licence and Council Tax
- a default fee for late payment of rent and replacement of a lost key/security device giving access to the housing, where required under a tenancy agreement
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.
This is made up of the following:
Security Deposit equal to five weeks rent.
The first month’s rent in advance. N.B. Rent is worked out on a per calendar month basis, which is, if you are not aware; the weekly rent, multiplied by 52 weeks and divided by twelve months to give the per calendar month rental figure.
The above monies need to be in a cleared form before the tenancy is able to commence, payment by means of either a bankers draft, cash or paid directly into our client bank account and showing as cleared.
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 ‘fair wear and tear’ or to the landlord as required maintenance.
It is in a landlord’s 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 commencement of the tenancy.
Wherever applicable VAT will be charged at the current VAT rate.