Applicants must be at least 18 years of age (and a guarantor will be required for those under the age of 21).
Having decided on a property, each adult over the age of 18 will need to complete a basic application form.
Once we have received the application form, we will then speak to the landlord(s) to ensure they are happy to proceed with your application. At this time any details or requirements can be provisionally agreed, such as occupancy date, duration of the letting, etc.
Once the landlord(s) has confirmed they are happy to proceed, we will require a holding deposit which is equivalent to one weeks rent. To work this out please times the rent by 12 and then divide by 52. If the references are successful, then the holding deposit will be put towards the first month’s rent. If the references are successful, you will be required to sign the tenancy agreement within 15 calendar days of paying the holding deposit.
The holding deposit will be non-refundable if you withdraw your application for any reason or the tenancy fails to proceed due to incomplete or inaccurate information provided in the tenancy application.
RIGHT TO RENT
For all adults living in the property we are required to check they have the right to reside in the UK. We will need to see the original documents and the person they belong to. If you would like further advice, please let us know.
Once the holding deposit has been received, we will then email you a link to our referencing company where you will then be required to complete the full application form together with current landlords details (if applicable) and employers information etc.
You will have your own log in details and will be able to see what aspects of referencing has been completed and those that are still outstanding. As part of the referencing process, a credit check will be undertaken, an employer’s reference and landlords reference will be obtained. Where a Tenant is unable to meet the required income, with the landlords consent, the Tenant may require a Guarantor to agree to underwrite any rent liabilities. To confirm you earn enough to pass referencing please use the model below:
Rent of the property X 12 X 2.5 = Minimum gross annual income required
As we will require the successful references to be returned and the tenancy agreement signed within 15 calendar days, it is strongly advised you inform your current landlord and employers that a reference will be requested and ask them to complete this as soon as possible.
Rents are normally quoted on a calendar month basis. In addition, the Tenant is usually responsible for Council Tax, Water Rates, Gas, Oil, Electricity, Telephone costs etc. Payment of rent will be due on the anniversary of the tenancy, with the balance of the first month's rent due before taking occupation of the premises.
A deposit is required prior to occupation. This is normally the equivalent of five weeks rent and the exact amount is advertised on our website and particulars. This will then be passed to the Deposit Protection Service (DPS) for them to hold until the end of the tenancy. This is to ensure the deposit is held safely and protected. In certain circumstances, the landlord may hold the deposit and it is then their responsibility to lodge it under an appropriate protection scheme.
The deposit is held to cover any breakages, damage or other tenant liabilities. At the end of the tenancy, either the landlord or us as agent shall inspect the property and assess any damages and deductions due.
Please note that the deposit cannot be used by the Tenant to cover rent.
OTHER PAYMENTSPayments in the event of a default
- The loss of a key to, or other security device giving access to, the property to which the tenancy relates. This payment will not exceed £50 including VAT unless a receipt is given to demonstrate the additional charge.
- Failure to make a payment of rent in full only before the end of 14 calendar days beginning with date the rent is due as written in the tenancy agreement (as calculated in the example below).
Calculating late payment of rent
The Bank of England base rate is currently at 0.75%.
Arrears x 0.0375 = Annual arrears landlords and agents can charge
Annual arrears ÷ 365 = Daily interest
Daily interest x Number of days rent outstanding = Interest due
Example - £500 rent arrears and 26 days outstanding
500 x 0.0375 = £18.75
18.75 ÷ 365 = £0.051
5.1p x 26 = £1.34
Payment on variation, assignment or novation of a tenancyWhen a tenant has requested it, a charge will be made to vary, assign or replace a tenancy. The payment will not exceed £50 including VAT unless a receipt is given to demonstrate why the charge is higher.
Payment on termination of a tenancyA tenant will be required to make a payment for an early termination (surrender) of the tenancy agreement if requested by the tenant. The landlord will need to agree to the surrender and if they do, payment will need to be made by the tenant to cover the loss suffered by the landlord and reasonable costs incurred by the letting agent.