At the point of offer, a Holding Fee of £300.00 is payable to secure your commitment to proceed with the rental. The details of your offer will be taken and they will include the following;
• Full Name
• Current Address
• Contact Telephone and Email addresses
• Employment Details
• Offer Price
• Commencement Date
• Term of Tenancy
• Conditions of Offer
Photographic ID will also be taken at the point of offer, this can be a passport/photo card driving licence or ID card.
Your offer will be put forward to the landlords and assuming acceptance your landlord will require referencing to be conducted on each tenant.
This will be carried out by our independent referencing company online, and a report provided to us. The information required for each tenant will include the following;
• A Credit Check
• References from current and/or previous landlords
• Bank Details
• Employment Details
You may be required to provide a guarantor as part of your referencing process, if for example your earnings are not quite enough to cover rental payments or if you have recently started a job or are studying. Your guarantor will be referenced in the same way as a tenant and they will be expected to pay the rental should there be any default during the tenancy.
Do not be concerned if this applies to you, it is quite common and we will explain the process to you if required.
Move In Monies
The initial or move in monies are payable in advance of the tenancy commencing and the minimum requirements are as follows;
|First Months Rent in Advance||£1,000.00|
|Security Deposit (minimum 1 1/2 months rent)||£1,500.00|
|Referencing & Administration Charge (£125+VAT per tenant/guarantor)||£ 150.00|
|Less Holding Fee Already Paid||£ 300.00|
|Total Monies Payable in Advance||£2,350.00|
The Security Deposit is held against non-payment of rent and to ensure that any damage caused to the property over and above accepted wear and tear can be rectified at the end of the tenancy.
All Landlords and Agents are required by law to register and protect a tenants deposit within a Government approved scheme on an Assured Shorthold Tenancy. A certificate of registration will be provided to you to confirm this has taken place. The scheme offers alternative ways of resolving disputes and aims to be cheaper and quicker than lengthy court action.
The Tenancy Agreement
All relevant parties will be asked to sign this document which details the responsibilities of all parties involved
Your Landlord may ask for a professional inventory to be carried out on the property, this will be carried out by one of our independent inventory companies and they will prepare a fully documented schedule of condition of the property at the point that you move into it. Both parties will be required to agree that the inventory is correct at the start of the tenancy and this will minimise the risk of any disputes at the end of the tenancy. The landlord will pay for the preparation of this report and also the check in, the cost of the check out is borne by the tenants and will be deducted from the security deposit held by Matthew James. Further details regarding these charges are available from our staff members and will be advised to you at the point of offer.
On the day of moving in you will be required to come into our office to complete the paperwork and collect the keys, if your contract has not be signed in advance all parties must be in attendance to sign the agreement ahead of keys being handed over. If the move in monies have not been cleared into our account by the commencement date this will delay the moving in process.
During The Tenancy
It is not unusual for your landlord or managing agent to schedule regular visits to the property in order to check that the property is being looked after and that you are happy with everything. Usually these inspection take place at 3-6 month intervals and will be agreed with you in advance.
When you move in you will be advised of who to contact with any maintenance issues. Your landlord may manage the property themselves or they may instruct Expand Properties to act on their behalf.
Renewing or ending your tenancy
Your initial tenancy is likely to be for a period of 12 months, you have 2 options to consider at the end of this time, renew the tenancy for a further term or vacate at the end of the contract. Either option will require a minimum of 2 months notice. We will contact all parties ahead of the end of the tenancy to find out their intentions and can then deal with matters accordingly. Assuming you have been good tenants and looked after the property you will most likely be allowed to continue with your tenancy, though this may be subject to a rental increase if the market allows.
If you do decide to end the tenancy, a minimum notice of 2 months is required in writing to either your landlord or Expand Properties. During this notice period your landlord may instruct us to market the property and access will be required to undertake viewings with a minimum of 24 hours notice being given.
Remember to ensure that the property is left in the same condition that it was given (less acceptable wear and tear) to ensure that you get the maximum return of your security deposit.
Here are a few pointers to assist you;
• Ensure the property has been thoroughly cleaned, if a professional clean was carried out at the commencement of the tenancy you would be required to carry one out at the end of the tenancy.
• Ensure that the garden (where applicable) has been left in a tidy condition and all rubbish removed from the property.
• Ensure that all of your belongings have been removed from the property.
• Return all keys to the agent or your landlord.
Once you have vacated the property the check out inventory will be conducted and upon receipt any deductions from the security deposit can be agreed with all parties.