Tenants

Tenants Guidance Notes

1. Holding Deposit

To secure the reservation of a property a Holding Deposit of £300 is required together with the return of the signed Tenants Guidance Notes and completed reference forms. The holding deposit secures the property for the tenant whilst all relevant references and Searches are completed. This sum is deducted from the total monies due prior to the start of the tenancy.

By placing your holding deposit you are securing the property. Should you require any additional furnishings to be supplied or taken out of the property this should be negotiated via Property & Land Exchange with the landlord before the offer is agreed. Once the holding deposit is received no further negotiations will be entered into. Should the Landlord withdraw from the application, this Holding Deposit will be refunded, less charges made for Reference Fees.

Should the prospective tenant withdraw at any time after payment of the Holding Deposit or if the References / Searches prove to be unsatisfactory, they will forfeit this Deposit in full.

If the reference forms are not returned to Property & Land Exchange within the agreed time or if the applicant delays the process for any reason after agreeing to move in on a specified date, the landlord reserves the right to withdraw. In this instance again the holding deposit will be non-refundable.

2. Application for a Tenancy / References

Applicants wishing to take up a Tenancy will be required to complete a confidential application form providing personal and financial details in order for references to be carried out. It is essential that you have all the information and supporting documents with you when completing the form. You will need:

• The full address of your current property including the postcode.
• A contact name, address and telephone number of current letting agent or Landlord (if applicable).
• If less than three years at your current address, a list of all addresses for the last three years with postcodes and dates of occupation.
• The full company name, address and postcode of your employer (or accountant if you are self employed) along with a contact name, telephone/fax number or email address.
• Your bank details including account number and sort code.

The completed application form will be forwarded to a credit rating agency for grading and we normally receive a reply within 3 working days. A charge of £40.00 + VAT will be made per applicant. Should the applicant require a guarantor, there will be an additional fee of £25 + VAT to process each guarantor. Should the Tenancy not proceed after references have been checked the charge is NON-REFUNDABLE.

PLEASE NOTE THAT THE REFERENCE AGENCY REQUIRE HOUSEHOLD INCOME TO BE AT LEAST £10,000 PER ANNUM FOR EACH £300 OF RENT (IE INCOME WOULD NEED TO BE £20,000 PER ANNUM FOR A PROPERTY OF £600 PER MONTH). ALL APPLICANTS MUST BE OVER 18 YEARS OF AGE AND IN FULL-TIME PERMANENT EMPLOYMENT.

Also if you have a poor credit history any unresolved CCJ’s, are a student, or if you are either in temporary employment or unemployed you will need a guarantor. The guarantor will need to complete an application form and meet the same criteria with regards to employment and credit rating. The guarantor will also be named on the Tenancy Agreement and will be required to sign the Tenancy Agreement. If a guarantor cannot be provided the tenant can choose to pay six months rent in advance, however this is subject to the landlords’ approval.

3. Tenancy Agreement

Upon receipt of satisfactory references, Property & Land Exchange will draw up the Tenancy Agreement and forward a copy to both Landlord and Tenant. The Tenancy Agreement is a legally binding document between the owner of the property (The Landlord) and you (The Tenant). You should read the Agreement carefully and ensure that you fully understand it prior to signing. If there is anything that is not understood, it is recommended you take advice from either the Citizens Advice Bureau or from a solicitor.

The agreement should then be signed by all tenant(s) and guarantor(s) if applicable and witnessed. The original document returned to Property & Land Exchange no later than 48 hours prior to the commencement of the tenancy. Property & Land Exchange will provide a copy of the agreement signed by the tenant to the landlord, and a copy of the agreement signed by the landlord to the tenants. Please ensure that you retain this as it may be necessary to refer to it during your tenancy. If a further copy is requested an administration charge will be made.

Should you request to change the commencement date of the tenancy after the agreements have been drawn up, we will have to obtain approval from the landlord and an administration charge of £100 +VAT will be payable by the tenant.

4. First Months Rent & Deposit

The first months rent and security deposit (equivalent to 1 ½ months rent) are payable by bank transfer and must reach our account IN CLEARED FUNDS 48 hours prior to the day of occupation. Personal cheques, bankers drafts and building society cheques can only be accepted if paid 10 working days in advance of occupation.

Please note, we will be unable to issue keys to a tenant until all monies have been received in CLEARED FUNDS.

5. Deposit

The deposit is held as security during the tenancy against any breaches of agreement by the tenant and can be used at the end of the tenancy to pay for any dilapidations or cleaning, should the property not be returned in its original condition. THE DEPOSIT MAY NOT BE USED AT ANY TIME FOR PAYMENT OF RENT.

The deposit will be held by either Property & Land Exchange or the Landlord. Where the landlord is holding the deposit, the deposit must be insured by a Tenancy Deposit Scheme and we will inform you of which scheme the landlord is a member.

Where Property & Land Exchange holds the deposit, then they will hold the deposit in a governement protected account.

Property & Land Exchange are members of The Tenancy Deposit Scheme, details of this are forwarded to you with the Tenancy Agreement.

6. Rental Payments

All rents are payable in advance by standing order only and are due on the same day of the month as the commencement of the Agreement. Where Property & Land Exchange manage the property a standing order mandate will be sent to you at the start of the tenancy and must be completed and forwarded to your bank to take effect from the second month of your tenancy.

The rent is due on the date that your tenancy commences. All rents must be received in cleared funds on or prior to this date. All standing orders should therefore be dated 5 days prior to this date to ensure that monies have cleared in time.

If during the tenancy any standing order is withdrawn by the bank due to insufficient funds, then Property & Land Exchange will charge an administration fee of £50+VAT.

All standing orders must be cancelled by the tenant at the end of the tenancy. Should Property & Land Exchange receive additional rental payments which have to be returned then an administration charge of £50+VAT will be charged.

In the case of joint tenancies, the rent must be paid from one account only.

7. Inventory

Property & Land Exchange will arrange for a check-in to be carried out at the start of your tenancy with either an independent inventory clerk or the Landlord.

An inventory will be prepared by either the landlord or an inventory clerk detailing the fixtures and fittings in the property together with their condition. You will be required to sign a schedule of condition confirming that you agree with the inventory and the comments regarding condition. This inventory will also be used at the check-out to assess any damage or dilapidations to the property. With allowances made for fair wear and tear, any damage noted or cleaning required will be charged to the outgoing tenant. It is therefore strongly advised that you attend the check-in and that you check through the inventory carefully and ensure that you are in agreement with it.

Upon receipt of the inventory Property & Land Exchange will forward a copy to you. Where an inventory clerk is used, they will give you up to 7 days to make any further comments. If they do not hear back from you within this time it will be assumed that you are in agreement with the comments in the inventory and the final, legally binding copy will be sent to you. Should a further copy be required of the inventory then there will be a charge of £50 +VAT.

8. Identification

All tenants will be required to produce photographic identification at the check-in. You will need to take with you a colour photocopy of your passport or drivers licence (please note, UK drivers licence only and only if new photo licence) together with the original. The inventory clerk will check the copy against the original, and we will keep the copy for our records. Please note that the inventory clerk will not be able to hand over keys to you unless this identification is provided.

9. Insurance

The Landlord is responsible for insuring the property and any contents that are left in the property. You must insure your own belongings and for accidental damage to the Landlord’s fixtures and fittings. The Landlord cannot be held liable for any loss suffered by the Tenant whatever the circumstances. We can obtain a competitive quote for your personal contents and accidental damage to the Landlord’s fixtures and fittings if you wish.

10. Domestic Pets

Domestic pets are not permitted except if agreed in writing and it is usual for an additional deposit of £500 to be held. The carpets must be professionally cleaned, sanitized, deodorized and anti bacteria / flea treated on vacating the property. The original invoice must be supplied to confirm this has been done. If evidence is not supplied to this effect, Property & Land Exchange or the Landlord will arrange for this to be carried out and the cost deducted from your deposit.

11. Smoking

Smoking is not permitted in a property unless previously agreed with the Landlord.

12. Utility Supplies and Council Tax

All tenancies are exclusive of utility bills (water rates, gas, electric, council tax and telephone charges (unless otherwise stated) and Tenants will be responsible for payment. Where Property & Land Exchange manages a property we will advise the various suppliers of your occupancy however tenants must contact the suppliers in order to set up account and to arrange for payment.

Property & Land Exchange are unable to undertake the transfer / connection of telephone services. Tenants should request telephone service from their chosen provider and must advise the Landlord or managing agent of the telephone number. Tenants are also responsible for ensuring that they have a television license for the property, if applicable.

13. Faults and Repairs

You will be informed at the start of your tenancy who will be managing the property and given contact details. Many Landlords have service contracts and preferred contractors. If the landlord is managing the property any maintenance issues must be reported direct to the landlord. Failure to do so may mean that you are liable for any deterioration or damage resulting from any delay. You must not instruct a contractor to undertake any work – if you do it will be at your own expense.

If Property & Land Exchange are managing the property any maintenance issues must be reported to us directly. Please note that we will endeavor to address maintenance issues as soon as possible, however same day response cannot be guaranteed. We always request that our contractors contact you direct to obtain access to the property.

14. Declaration

Should you wish to make any changes to the property including putting up pictures on walls or decoration you must obtain written permission from the Landlord or managing agent before any work commences.

15. Safety

When smoke or carbon monoxide detectors are fitted in the property you have an obligation to ensure that they are checked regularly, kept in good working order and batteries replaced when needed. If you become aware of a fault you must notify the Landlord or managing agent immediately. If the property has either natural or bottled gas the law requires an annual Landlords Gas Safety Report. This will be arranged by the Landlord or managing agent.

16. The Garden

It is a requirement of our Tenancy Agreement that the Tenant maintains the garden (if applicable) at the property (ie keeps the grass cut, borders and paths weed free and shrubs trimmed).

17. Vacating

You must vacate the property on the agreed date. Your Landlord or an independent Inventory Clerk will make an appointment to meet you at the property to carry out the “check out” inspection, take meter readings and receive all the keys. You will have to supply a forwarding address for the return of any deposit.

We use independent Inventory Clerks thus ensuring that their findings are impartial. The Landlord pays for the preparation of the inventory and the check-in. The Tenant pays for the check-out. Please note that an exact price cannot be given for the check-out at the start of the tenancy as all inventory companies reserve the right to alter prices. The decision on which company and thus what price remains the landlords/managing agents, and the tenant agrees to abide by this choice. Approximate prices can be supplied.

18. Return of Deposit

The deposit is refundable only after you have vacated the property and provided that:

• The property has been thoroughly cleaned to the standard of the check-in report
• The carpets and curtains have been professionally cleaned where required
• All items listed in the inventory are present and in satisfactory condition.
• All bills relating to the property / tenancy have been paid.
• There is no damage to the property.
• Where Property & Land Exchange hold the deposit under the new Tenancy Deposit Scheme regulations, there is a £80+VAT administration fee payable by the tenant upon vacating the property.