Information for TenantsTHE INFORMATION HERE IS DESIGNED TO HELP GUIDE YOU THROUGH THE INTRICACIES
OF RENTING A PROPERTY AND WILL HOPEFULLY HELP YOU TO UNDERSTAND THE
PROCESSES INVOLVED IN ESTABLISHING A SUCCESSFUL TENANCY. REFERENCES Once a property has been selected by a tenant the landlord is approached and terms are agreed ( rental price and period of tenancy). References are then taken up with the tenant's bankers, employers and present landlord or agent. In some circumstances we ask a parent /guardian to act as guarantor. The charges made by banks for status enquiry charges vary. A list of the various charges are detailed on our bank status enquiry form. The status enquiry fee is payable by the prospective tenant. The prospective tenant is responsible for pursuing his referees to respond to our request for a reference. TENANCY AGREEMENT A tenancy agreement will be prepared for signature by both the landlord and the tenant(s). It is a binding agreement on both parties. This document must be read and fully comprehended before signing takes place. Upon signing the agreement one month's rent must be paid in advance (subject to the aforementioned calculations) and 6 weeks' rent paid as deposit in cleared funds.
The deposit is held for the duration of the tenancy against any possible dilapidations which may be incurred during the term of the tenancy. The deposit is held by us as stakeholders. The deposit is returnable upon the termination of the tenancy once a satisfactory check-out report has been made together with visible evidence that all final accounts have been paid (see under heading INVENTORY for details of the check-out report or, in the case of properties which are not managed by us, upon receipt of landlord's instructions that the property has been left satisfactorily. STAMP DUTY If the original agreement is not stamped i.e. the part that is signed by the landlord and held by the tenant, the tenant cannot produce it in court in support of any claim he may have against the landlord. The cost of the stamp duty equates to 1% of the average annual rent rounded up to the nearest £5.00 (except in some circumstances which would not usually apply to tenancies such as the one proposed) and payment thereof is the responsibility of the tenant. Tenants may elect not to pay the duty, but the agreement will then not be stamped. For more details see our Information page.
|
INVENTORY At the commencement of the tenancy we will meet the tenants at the property to check the inventory and make any comments on the condition of the property and furnishings. This is done to reduce any chance of discrepancy at the termination of the tenancy and enables us to return the deposit promptly. At the end of the tenancy a check-out report is carried out whereby the condition of the property is compared to the condition at the commencement of the tenancy.
Rent payments are due monthly in advance , in accordance with the tenancy agreement. Payments must be made by standing order - for which we have forms. Rent is accepted from the TENANT only. No third party payments will be accepted.
It is the in-going tenant's responsibility to contact the various authorities to have the supplies connected up / transferred into their names prior to the commencement of the tenancy. A minimum of 48 hours notice is usually required. Tenants are required to accept responsibility for payment for the gas, electricity, telephone, water rates and council tax during the period of occupancy. British Telecom will not accept instruction from any third party to transfer lines into the tenant's name. In-going tenants must contact BT sales office to register that they wish to take over the line, prior to the start of the tenancy.
Tenants are obliged by law to notify the Local Authority
when they move into the property. If your landlord is non resident for UK tax purposes and if we are not collecting the rent on the property which you are renting, you may be required to withhold tax at the rate of 24% on your rental payments to the landlord and then to account to the Inland revenue on a quarterly basis for these deductions. This will not apply if your landlord has obtained a certificate from the Inland Revenue notifying you that it is not necessary for you to withhold tax. Guidance notes and further information are available from the Inland Revenue at the following address and telephone numbers: FICO ( Non-Residents )
|