Once you have made your choice, speak to us and we will guide you through the administration processes. Below is a basic guide of what this will entail including some costs and fees: Please see Tenants fee schedule 2019 and Tenant fee consumer guide 2019 for further details.
You will be asked to provide consent and pay one week's rent as a holding deposit. This acts as your commitment to rent and marketing of the property will stop. This amount will go towards the first month's rent, however it can be non refundable if:-
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- You changed your mine
- Failed Right to Rent checks
- Provided false or misleading statements which may also lead to an unsuccessful reference
- Missed deadline to sign rental agreement due to delays caused by tenant/s
It is helpful at this stage to know some other costs / fees that can apply during your tenancy. Please also refer to your tenancy agreement for details:-
- Changes in tenancy, such as change in sharer/s residing in the property. £50 (inc. VAT) per change or any reasonable costs incurred if higher
- Variation of contract (Tenant's request) - £50 (inc. VAT) per agreed variation
- Early termination of tenancy (Tenant's request) - Should the tenant/s wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
- Replacement of keys, security devices or locks
- Any repairs or replacements due to damages caused by tenant/s
- Rent arrears charged at 3% above current base rate of outstanding amount
Security Deposit – this forms the bulk of the monies you will need to provide upfront apart from the initial month's rent. The sum of deposit required is 5 or 6 weeks of the rent, dependant on the type of tenancy agreed. Your deposit will be protected under a recognised deposit scheme for the duration of your tenancy. For example: If your rent is £1,200 per month, then a 5 weeks' deposit will be £1,384.62.
Rent – Rent is payable in advance of the occupancy and subsequent months during tenancy. Using the example above, apart from a £1,384.62 security deposit there will also be a £1,200 rent payable for the first month (less holding deposit). It is important to set up a monthly direct debit to ensure there is no lapse in payments.
Right to Rent - In order to fulfill compulsory 'Right to Rent legislation, Assents Property will ask to see forms of identification at time of viewing. ie passport, 2 forms of proof of address (utility bill (not mobile phone), driving license, proof of income and funds. If you are not British or EU citizen, we will need proof of residency status. Please ensure you have these, otherwise viewing may be declined.
Reference/s - This includes credit and affordability. We use an independent referencing agency to verify your income and status. They will require information such as, employer, current landlord and letting agent to obtain the necessary documentation/evidence to support your application. Please help to speed up the process by alerting all parties to expect communication and respond immediately. It is advisable to check back with the relevant persons to ensure they have responded accordingly.
Change of tenancy start date – Once a tenancy start date is agreed with the landlord, we will carry out administration work, which will require a minimum of 7 days. If you decide to change the tenancy start date, it will be prudent to inform us immediately, so this can be factored into the negotiations with the property owner.