Content - Renting
WHAT IS INVOLVED?
Renting from us could not be easier, we will do all we can to help you find your perfect home.
When you have decided to apply for a property and you have completed our application form there is an application fee to pay. When this is paid we take the property off the market for you whilst completing all necessary processes.
Our application fees are £175 per property. If you are on housing benefit you will require a guarantor (they must be employed and meet the criteria). A guarantor application is a further £25. We do not charge VAT.
Our application fees include the costs of referencing of employer and or current or previous landlords, credit checks, the Tenancy Agreement and the registering of your deposit with The Deposit Protection Service (DPS).
In addition to the application fees, upon move-in you will need:-
The Deposit (£100 more than the rental amount e.g rent £400 deposit £500)
1 months rent up front (if employed / self-employed) or
2 months rent up front & guarantor (if unemployed/housing benefits)
We regret to say we do not accept the council bond scheme.
Administration fees are non-refundable. If the applicant is accepted but the landlord declines to proceed then all fees will be refunded.
Please note in the case of pets (subject to Landlords consent) and extra amount may be taken on top of the deposit, this is agreed with the landlord on a property by property basis.
Once a tenancy has ended, should the Tenant / Landlord wish to renew for a further fixed period there is a charge of £25 to Tenant and £25 to Landlord.
A Guarantor can be anyone that a Tenant puts forward, they would have to sign a Guarantor Agreement and will be subject to a reference carried out by our appointed referencing company.
The following can be deciding factors to see if a Guarantor can support the Tenant:
• The Guarantor must be confirmed as being a resident at the address(es) they have provided.
• Their income must be verified to be sufficient to cover the Tenant's rent (please see below for calculations)
• If a Guarantor is Self Employed, they must be able to provide proof of affordability and have a minimum of 1 year's accounts.
• Guarantors must be UK residents, must have a traceable UK Credit history and also have valid Identification.
HOW MUCH DO I NEED TO BE EARNING?
The affordability for both tenants and guarantors is worked out on your income being 2.5 times the annual rent.
Rent = £500 PCM Annual Rent = £6,000
6,000 x 2.5 = 15,000
So you will need to be earning an annual income of £15,000
WHAT IS THE CRITERIA?
Here is a flow chart to explain the processes of the application and to advise what is and isn't accepted.