COSTS

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Referencing –  A proportion of your first month rent or deposit is required to reserve the property and start the referencing process. It is the applicant’s responsibility to make us aware if there is any reason you suspect you might fail (for example, history of CCJ, adverse credit, previous late rent payments) in advance of making this payment. There is no extra cost for referencing guarantors.

First month rent – required in cleared funds on or before the day you move in the property.

Damage deposit – equivalent to one month rent, required in cleared funds on or before the day you move in the property. 

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We can’t take a property off the market until a proportion of your deposit or first month rent (whichever applies) has been paid. We are unable to let you move into a property until the first month rent and damage deposit has been received in full.

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We are able to retain a tenant’s holding deposit if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

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EMPLOYMENT, GUARANTORS AND INCOME REQUIREMENTS

PROFESSIONAL TENANTS, GUARANTORS - Generally, you must have been employed continuously for the last six months and passed your probation period and be permanently employed. If this is not the case, or you are on a fixed term contract expiring before the end of the Tenancy or self employed with less than one year’s audited accounts, we may still be able to proceed, but we will require a UK based guarantor who can pass the financial requirements or for 6 months rent to be paid in advance. If you are concerned about salary requirements please discuss these with us before making any referencing payments.

Depending on the exact circumstances the formula can vary, but as a rule of thumb tenants must have either a total monthly income of at least 2.5x the monthly rent, or savings equal to 2.5x the annual rent, or a combination of both. For guarantors, the same formula applies, but guarantors must make 3x the rent, as they have their own living costs to cover.

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STUDENTS – If the landlord agrees to rent to a student, all student applicants must provide a UK guarantor for the full term of the tenancy. Referencing will be required for all tenants and all guarantors. International students will need to provide a UK guarantor or multiple months rent upfront.

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Referencing must be accepted for all applicants involved (including guarantors) before we can let applicants move into a property.

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Please see paragraph above as guidance for guarantor requirements.

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If a tenant cannot provide a guarantor but can provide payment for the full term of the tenancy upfront - this may be accepted by the landlord, however this is at the landlords discretion. Some may still require positive references (for example, landlord reference).

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PROFESSIONAL MEMBERSHIPS

We are members of The Property Ombudsman scheme, our deposits are registered with the Deposit Protection Service.

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RIGHT TO RENT AND IDENTIFICATION

Each person who is hoping to reside in the property and is over 18 must prove that they have a Right to Rent in the UK. A UK citizen or EEA national can satisfy the check for example by showing a passport or national identity card. UK citizens can also provide proof by showing 2 of the following documents; provisional photo card UK driving licence,full birth or adoption certificate which includes the name(s) of at least one of the holder’s parents or adoptive parents, a current full or letter from an official body (further information on acceptable letters can be obtained from the via the link below). For the majority of migrants who are here lawfully, the checks are equally simple and can be satisfied, for example with a visa, biometric residence permit etc.  Further details are available upon request.

 

 

 

 

Further details are available via www.gov.uk/government/publications/right-to-rent-document-checks-a-user-guide.