Although many letting agents have different procedures, this guide is intended as a general overview to assist you when renting a property. We have set out below a few significant pointers to assist you.
Once we have found you a suitable property, you will be in a position to make an offer to the landlord for consideration. Please note that any offer you make is subject to you fulfilling our reference criteria. At this point, you will be requested to pay an application fee, enabling you to secure the property and get it off the market. In the event of unsatisfactory referencing or a change of heart, this fee is non returnable.
Agreeing The Tenancy
As soon as your offer has been accepted by the landlord we will apply for references and draw up the relevant documentation which will form the basis of the agreement between you and the landlord.
You will be expected to provide:
All tenants must show proof of address. Only the following forms are accepted:
Your employer will be contacted and your landlord (if you are in rented accommodation already. Your previous employer will also be contacted if you have recently changed jobs. If you are self employed we will need to contact your accountant. A credit check will also be conducted.
To assist in collating the necessary references, it would be advantageous for you to warn the above individuals in advance that references are required as these can be return within a matter of a few days, barring any delays.
Occasionally, a GUARANTOR will be required if, for example the tenant has not been continuously employed for the past 18 months; has been working abroad in the previous 6 months; the tenants’ income falls short of our criteria or the tenants’ employment is considered as changeable.
Please note that the same criteria applies to the guarantor and, furthermore, the guarantor must earn the equivalent of 3 times the yearly sum of the rent, be in full time employment or be able to prove by bank statements that they have “independent means”. All tenants should be able to provide a guarantor and should the tenant be unable to provide one, we will decide that the tenant has withdrawn their application. The tenant will therefore forfeit their deposit. The guarantor must be aware that they will stand as guarantor for you, (and your partner if you are moving in to the property with some one else), for the entire occupancy of the property, not just for the period of the initial tenancy term.
How much do i need to earn to be considered for the property?
Having passed all the referencing criteria to be considered for the property and, subject to the Landlord’s decision, you must earn at least 1.5 times the yearly rent (however, you may require a guarantor) or at least 2 times the yearly rent (you will qualify on the income part of the referencing without a guarantor).
An appointment will be arranged with you to visit our offices to sign the Tenancy Agreement when all references have been received. The Landlord will also be asked to sign their copy of the document.
Rent & Deposit
You will be required to provide the agreed sum of rent and deposit before taking possession of the property. The deposit is required for the full tenancy against loss, damage or charges payable at the termination of the tenancy. Whilst this is usually the equivalent of one month’s rent, this may vary therefore we suggest that the actual amount is verified via the property description as found on our letting list. The deposit will be held by The Deposit Protection Service. It is returnable in full at the end of the tenancy subject to final inspection of the property and it should be noted that deductions will also be made for cleaning should the property (and garden areas) not have been left in a satisfactory condition.
Rent is to be paid monthly in advance commencing on the first day of the tenancy and then on the same day each month thereafter. The preferred method is by bank standing order.
Company applications are acceptable where the company will be paying the rent. The fee will be £400
Please note that all monies to be paid on the signing of the agreement prior to the occupation and should be paid in cash or by direct bank transfer.
A Condition Report may be prepared of your new home. All information is provided in good faith. It does not replace the advice of a qualified legal advisor. We will accept no responsibility for any inaccuracies.
With a wealth of knowledge within the Property Industry and years of experience your property will be safe in our hands.