Looking To Rent A Property? We Are Here To Help
or Croydon, we hope that we can be of assistance.
and security. During the move in process, we try to make it as straightforward as we can.
Steps to renting a property:
- First decide how many bedrooms you require. For example if you have 2 single sharers you will need 2 bedrooms. If you are a family of 4 you will need 2-3 bedrooms depending on age.
- Work out how much you will be able to spend in relation to your income. This is worked out that your income needs to be 3 times more than the rent is a year. For example, if you want to rent a property of £1000 a month your income would need to be £30000.
- Decide on the area you would like to live in, does it need to be near to public transport or near to schools?
- Decide what you need in a property. Does it need to be furnished or unfurnished? Does it have to have a garden or off street parking? There are many factors that you need to take in to consideration when you are looking for a property to rent.
- Once you have decided on all your requirements register your details with your agent. This way you will get updated with new properties if you haven’t found one already.
- When you find a property you are interested in, arrange a viewing and if you like the property you can put down a holding deposit/admin fee.
- The agents will then give you the reference form to fill out which get sent to an external referencing company.
- The details required for the reference forms will be a landlord’s reference if you are already renting, an employment reference and a credit check will also be carried out.
- If and when the references are accepted, the move in date can be arranged.
- On the day of move in, you will need to make the move in payment, sign the tenancy agreement and then you can take the keys to move in.
The costs of renting
- The holding deposit is one weeks rent
- The move in money is 5 weeks deposit and 1 months rent. This is to be paid when the tenancy agreement is signed and can be paid by either debit card or bank transfer
- The rent is exclusive of utilities, so when looking to rent you need to consider the costs of water, gas, electric and council tax.
- The rent needs to be paid a month in advance on the same date you moved in. For example, if you moved into the property on the 16th September, your rent would be due on the 16th each month.
Tenant Fees
Fees applying to all new tenancies from 1st June 2019
We may charge a tenant any or all of the following when required:
- the rent;
- a security deposit with a maximum of 5 weeks rent, or 6 weeks on a property with rent over £50,000 per year;
- a holding deposit of no more than one weeks’ rent;
- default fee for late payment of rent (after 14 days);
- reasonable charges for lost keys or security fobs;
- payments associated with contract variation, at £50 or reasonable costs incurred if higher, when requested by the tenant;
- payments associated with early termination of the tenancy, when requested by the tenant; and
- payments in respect of bills - utilities, communication services, TV licence, council tax and green deal or other energy efficiency charges.
Fees applying to all pre-existing tenancies entered before 1st June 2019
We shall continue to apply the charges within the existing tenancy agreement until 31st May 2020.
Before You Move In:
Set up fee (tenant’s share) £300 (inc VAT) for up to two tenants
Referencing up to two tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement
Additional Tenant Fee £50 (inc VAT) per tenant
Processing the application, associated paperwork and referencing
Guarantor Fee £100 (inc VAT) per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement
Permitted Occupier Fee £NIL___ (inc VAT) per permitted occupier
Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy
Accompanied Check-in Fee £NIL (inc VAT)
Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services
Pet Deposit Returnable additional Security Deposit of £NIL
To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy
During Your Tenancy:
Amendment Fee £NIL (inc VAT)
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy
Renewal Fee (tenant’s share) £50 (inc VAT)
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
Ending Your Tenancy:
Check out Fee (tenant’s share) £100 (inc VAT)
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)
Future Landlord Reference Fee £NIL (inc VAT) per reference request
Collating information and preparing a reference for a future landlord or letting agent
Other Fees and Charges:
Lost Security Items £NIL (inc VAT) plus item cost
Obtaining necessary permissions, sourcing providers and travel costs
Out of Hours Services £NIL___ per hour (inc VAT) plus any actual costs incurred
Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate
Unpaid Rent / Returned Payments Interest at 8% above Bank of England Base Rate from date due
Professional Cleaning (if required) £NIL (inc VAT) per hour which will be deducted from the Security Deposit
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF
James Alexander are fidelity bonded by ARLA Property Mark Insurance
