What is the renting process?

To secure the property we will require a holding deposit of 1 weeks rent. You would need to forward this to us in cleared funds as soon as possible. Each person over the age of 18 intending to live in the property must sign the contracts before the keys can be released. Balance of rent and deposit MUST be paid in cleared funds.

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Prerequisites

What Will I Need To Provide?

Once a holding deposit has been paid you will be asked to complete a reference form this is usually done online and has to be returned back to us within 48 hours(please note should you not return the form back to us in this time frame then you risk losing your holding deposit). The reference /credit checks can take anything from 1-4 days from the date we submit it. Should you wish to withdraw from the rental of the property then no refund will be made should the landlord withdraw from the rental application then a full refund will be made. Provided the results are successful, a member of staff will contact you so that arrangements can be made for you to pay the initial rent and deposit due and arrange for the signing of the Tenancy agreements. PLEASE NOTE: If you have made/wish to make arrangements to move into a property on a Saturday the latest time we can make available for you to sign & pay is 2:00pm (our offices are closed on Sundays).

EACH PERSON (Over the age of 18) party to the Tenancy MUST sign the contracts before keys can be released.
Balance of rent and deposit MUST BE paid in cleared funds.
Photographic identification is required (your application cannot proceed without this).

We require two forms of identification for each applicant:

  • Driving licence or passport
  • Utility bill
  • Bank statement or Council Tax statement not older than 3 months.
Payment Methods

What Methods Of Payment Can I Use?

We accept the following methods of payment:

  • Cash
  • Bankers draft (made payable to Nicholas James)
  • Faster payment (please note that if this method of payment is made it MUST be done minimum 5 days before commencement of the tenancy).

Once a holding deposit has been paid you will be asked to complete a reference form this is usually done online and has to return back to us within 48 hours. The reference /credit checks can take anything from 1-4 days to be completed. Provided the results are successful, a member of staff will contact you so that arrangements can be made for you to sign the Tenancy and pay the initial rent payment and deposit due (on or before the day the Tenancy commences).

PLEASE NOTE: If you have made/wish to make arrangements to move into a property on a Saturday the latest time we can make available for you to sign & pay is 2:00pm (our offices are closed on Sundays).

EACH PERSON (Over the age of 18) party to the Tenancy MUST sign the contracts before keys can be released
Balance of rent and deposit MUST BE paid in cleared funds
Photographic identification is required (your application cannot proceed without this).

Addtional information:

Holding Deposit (per tenancy): One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit (per tenancy. Rent under £50,000 per year): Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.

Security Deposit (per tenancy. Rent of £50,000 or over per year): Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent: Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s): Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant’s Request): £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant’s Request): £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early Termination (Tenant’s Request): Should the tenant 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.

These fees are in line with the Tenant Fees Act 2019. Please ask a member of staff if you have any questions.

Additional information to landlords:

  • Let only service – Sole agency – 8 % Multiple agency – 10% + VAT
  • Letting & Management service combined -15% + VAT
  • Rent collection only – 5% + VAT