Tenant information
PROPERTIES:
The initial step is to contact Advance Lettings and register your property requirements, you will be fully updated as to new properties becoming available in your chosen area and budget.
Upon selecting a property you wish to rent you will be required to complete the application forms and pay a holding fee.
REFERENCES:
Advance Lettings will carry out a credit check and employers reference along with an existing landlord reference (if applicable). It may also be necessary to have a guarantor who will also need to be referenced.
TENANCY AGREEMENTS:
Advance Lettings will draw up an Assured Shorthold Tenancy Agreement for a period of time agreed with you, though the initial term will usually be 6 months. Upon move in day you will need to call into the office and sign all legal paperwork and pay any outstanding balance due and collect the keys to your new home. Your guarantor will also be required to sign (if applicable).
RENT:
Your first month’s rent is payable in advance on the day of moving into the property or before, Please note: This money MUST be paid in cash, Building Society cheque, or Bankers draft – personal cheques will NOT be accepted on move in day. All future rental payments will be made one month in advance via standing order.
PERMITTED PAYMENTS:
Advance Lettings are a member of the Property Ombusman and hold Client Money Protection with Client Money Protect (CMP).
The information provided below is to ensure you are fully informed of the all fees and costs involved with regards to renting a property through Advance Lettings. All the following fees and charges shown are inclusive of VAT.
Holding Deposit:
Equivalent to one week’s rent: 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 the tenancy agreement (and / or deed of Guarantee) within 15 calendar days (or other deadline for agreement as mutually agreed in writing)
Security Deposit:
Capped at 5 week’s rent for rents less than £50,000 per year. This covers damage and defaults on the part of the tenant during the tenancy.
Capped at 6 week’s rent for rents more that £50,000 per year. This covers damage and defaults on the part of the tenancy during the tenancy.
Unpaid Rent:
Interest at 3% above the Bank of England Base Rate from the Rent Due Date until paid in order to pursue no-payment of rent. 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 pay costs associated to the replacement of any lost key(s) or other security devices. If the loss results in the locks being changed, the cost of the locksmith, new lock and replacement keys for all parties including, the tenant, the landlord, Advance Lettings and 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 (including VAT) for the time taken replacing lost key(s) and other security device(s).
Variation of Contract (Tenant’s Request):
£50.00 (including VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and executions of new legal documents.
Change of Sharer (Tenant’s Request):
£50.00 (including 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.
Early Termination (Tenant’s Request):
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs associated with the re-letting the property, as well as all rent due under the tenancy until the start date of replacement tenancy. These costs will be no more than the maximum amount of the rent outstanding on the tenancy.
Please note:
Advance Lettings hold client money protection insurance with CMP and we also operate a separate client account which is ring fenced with Natwest.
Advance Lettings lodge all deposit with the Custodial Scheme of the DPS (Deposit Protection Service).
