Holding Deposit
Equivalent to 1 weeks rent; a Tenant Holding Deposit is a payment made by a prospective tenant to secure a rental property while their application is being processed. It demonstrates their intention to rent and is used toward the first month's rent if the Tenancy Agreement is signed. If the tenant decides not to proceed or provides false information leading to a failed reference, the deposit is unfortunately non-refundable.

Security Deposit
Typically (annual rent under £50,000 per year), a Security Deposit is equivalent to 5 weeks rent and is payable to cover potential damages and/or costs which may have occurred during Tenancy or been incurred at the end of Tenancy. It is held in the Deposit Protection Scheme - in line with UK Law.

If the annual rent is more than £50,000 per year, this is capped at 6 weeks rent.

Company Lets will vary; please contact us for further information.

During Tenancy
Unpaid Rent - Interest charged at 3% above Bank of England base rate
Lost Keys or other Security Devices - Tenants are liable for the actual cost of replacing any lost keys or other security devices. If extra costs are incurred, there will be an additional £15p/hour.
Change of Occupant (Tenant's request) - £50 per replacement or additional Tenant/s or any reasonable cost incurred if higher.
Early Termination (Tenant's request) - Tenants liable for the Landlord´s cost to re-letting the property as well as all rent due under the tenancy until the start date of the replacing tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Cleaning Charges - Check out cleans from £20 per hour carpet and upholstery cleaning from £35 and appliance/oven cleaning from £35

We are a member of Safe Agent UK and CPM (Client Money Protection)
We are registered with the ICO (Information Commissioners Office)
We are a member of the PRS (Property Redress Scheme) membership number PRS001204

You will be required to fill out an application form sent to you online by an accredited credit and referencing agency. We use an agency to ensure your confidentiality under the Data Protection Act. The credit referencing agency will check your credentials and in turn, send a report to us either approving or declining your application. Usually, they will ask you to provide details of the following;

• Proof of income
• Proof of ID
• Previous landlord/s reference/s
• Proof of previous address
• Credit check
• Right to Rent Check
  

In situations where the applicant cannot supply these details or is declined after they have been credit checked a Guarantor may be required to guarantee the Tenancy on the Tenant’s behalf. Should you suspect that you may be declined (possibly if you are a student or only work part-time) it would speed up the process if you provided a Guarantor when you first filled out the application.

When you return the keys to us the property will be checked against the original inventory to determine if there should be any deductions for missing items, damage, or cleaning.

We will work with you to ensure that deductions (if necessary) are fairly administered, the property should be returned to the Landlord in the same condition (excepting fair wear and tear) as it was when the tenancy commenced and all financial obligations on the property have been met. If the property needs cleaning or maintenance (excepting fair wear and tear) to bring it up to re-letting standard these monies will be deducted from your deposit.

We will work with the landlord to ensure that your deposit is refunded to you as quickly as possible. You may not offset your deposit against any rental payments due or transfer it from one property to another.

Should you wish to stay on at the property the deposit is in effect “rolled over” onto each subsequent new Lease until the Tenancy is concluded. In line with the new regulations under the Housing 2004 Act your security deposit will be protected by a government-approved body.

The Letting Agent is a member of the Deposit Protection Service and will arrange for your deposit to be protected by this scheme within 30 days of the commencement of your tenancy. For further information on this scheme please log on to www.depositprotection.com or contact us directly.