|You have found a property to rent. So what happens next?
This guide will provide you with all the information and advice you need to clinch the deal and become a tenant.
- Confirmation of employment, salary confirmation.
- Personal & Photographic identification (passport or driving licence).
- Previous Landlord references.
- Students (Guarantor or proof or funding).
- Self-Employed (Accountants references, 6 months’ bank statements, trading details etc)
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:
- Cancel any advertising for the letting
- Tell other applicants that the tenancy has been taken subject to satisfactory references
- Prepare a letting agreement
- Take up references
- Carry out credit checks
- Take steps to fulfill any tenant specific requests
- Prepare a cleaner and/or Inventory clerk
Generally, most tenancies run for a period of twelve months, we will contact you two months before 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:
- Deposit normally equal to five weeks rent.
- The first months’ rent in advance. (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 banker’s 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. Similarly it is of benefit to the tenant to have an accurate check-in and check-out report to ensure there are no unfair claims against their deposit.