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My Company Property Specialist

A professional service with a difference

Tenant Guide

  1. Referencing Procedure
  2. Guarantor
  3. Deposit
  4. Administration†Fee
  5. Tenancy Agreement
  6. Payment
  7. Managed Properties
  8. Rental Payment
  9. Notice to end a tenancy
  10. Inventory
  11. Deposit Returns
  12. Tenantsí obligations
  13. Property Inspection
  14. Council Tax & Utilities
  15. VAT

Referencing Procedure

As soon as a suitable property has been found, you will need to complete reference application forms. We utilise the services of a credit-referencing agency.

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Guarantor

In order for us to process your application, you will need a UK Homeowner Guarantor to act for you; this can be a friend/family member, the only criteria they have to meet is them owning their own home in the UK and the abiltity to pass a credit check IF the applicant fails.†

Deposit

A deposit of an amount equal to the first months rent (not subject to†VAT) will be required within the administration period (below).†

All or a proportion of the 'Holding Deposit' will be retained in order to cover any reasonable costs if there are any problems with the property at the end of the tenancy (which will be outlined in full).†

The 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.

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Administration Fee

All administration fees are due at the start of the application process once the offer has been verbally agreed and will secure the property for you subject to satisfactory references being received on behalf of all applicable tenants .

The administration fee cost is £225+VAT, this covers the holding of the property 'as yours' for 14 days, and covers the cost of your credit check.

Should a guarantor be required to go through the credit check process then a further £25†payment per guarantor will be required.†

PLEASE NOTE THAT SHOULD YOUR REFERENCE APPLICATIONS BE UNSUCCESSFUL THEN THE REFERENCE† FEE/S†IS NON REFUNDABLE.

It is imperative that you disclose all relevant facts that may adversely affect your reference outcome, prior to entering into the above. It may save you money.

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Tenancy Agreement

Both the Landlord and tenant/s will be required to sign a tenancy agreement prior to the tenancy commencing, the agreement outlines both tenant and landlord obligations.

Generally, most tenancies run for a period of six months, we will contact you at 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.

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Payment

Once a moving date has been agreed and references have all been approved by the landlord, the tenancy agreement will need to be signed by all parties and the initial monies in full will become due less any deposit previously paid:

This is made up of the following:

  • Deposit†
  • The first months rent in advance. (rent is worked out on a per calendar month basis)

The above monies need to be in a cleared form before the tenancy is able to commence, payment by means of either cash†or paid directly into our client bank account and showing as cleared.

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Managed Properties

We do get instructed to fully manage some of our landlordís properties; If this is the case with your tenancy we will inform you prior to your tenancy commencing. If we are managing then any faults with appliances or problems within the property will need to be reported to us and we will deal with the problem as quickly and efficiently as possible. Failure to report an ongoing problem may turn the onus onto you; please report any problems you feel need attention.

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Rental Payment

Rental payments are always made by standing order from the tenantsí bank account to the landlordís bank account, with the exception of managed properties whereby the rental payment is made to us.

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Notice to end a tenancy

To terminate your tenancy subject to term, you will normally be required to give us at least one month notice in writing of your intention to leave, unless otherwise specified in your specific tenancy agreement. The notice must be given on your rent due date, a month in advance of when you are looking to leave.

Insurance

The responsibility for your belongings are down to you, you must ensure you have adequate contents insurance, the landlord accepts no responsibility and cannot be held responsible for any loss or damage to tenants possessions.

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Inventory

A well-prepared inventory and check-in report supporting photographic evidence protects landlords and tenants alike, providing an accurate description of the condition and contents of a property at the start of a tenancy.

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 Ďfair wear and tearí or to the landlord as required maintenance.

It is in a landlordís 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.

Normally an inventory of the property condition, furniture and fittings and effects will be prepared by the landlord, or an independent inventory clerk instructed by the landlord prior to the tenancy commencing. The tenancy is checked and agreed between the tenant and the landlord at the tenancy commencement.

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Deposit Returns

When your tenancy ends, an inspection of the property will be carried out, either by the landlord or an independent inventory clerk instructed by the landlord.

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Tenantsí obligations

The responsibility for the property lies with the tenant during the period of tenancy, always ensure that the property is fully secured and that during the winter months steps are taken to prevent freezing of the water and heating system.

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Property Inspection

If we are instructed as managing agents for your property, we will carry out quarterly inspections to assess the condition of the property and check that everything is being kept in a satisfactory condition. We will always arrange this with you at a mutually convenient time.

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Council Tax & Utilities

It is the tenantís responsibility to inform the utility companies of their occupation of the property at the commencement of the tenancy, and to pay council tax to the local authority. Students, who may be exempt from the payment of council tax, are responsible for informing the Local Authority of this.†


Value Added Tax

Wherever applicable VAT will be charged at the current VAT rate.

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