A Guide to Help Tenants when Renting a Property
1. Holding Deposit
To reserve a property you will be asked to pay one weeks rent, which will be held whilst references are taken and deducted from the final amount due. Should you provide misleading information, fail a Right to Rent check or fail to sign the tenancy on a mutually agreed date the deposit will be withheld.
Right to Rent Checks will be carried out. Full references will be taken from a UK bank, employer or previous Landlord or Landlords agents.
The rent is usually paid quarterly or per calendar monthly in advance. A standing order will be set up so payment comes out of the bank account on the same day each month.
A long let tenancy can be for a minimum of 6 months to 1 year. Most tenancies are let on a yearly basis with break clauses agreed at 6 months.
Rent under £50,000 per year is five weeks rent
Rent over £50,000 per year is six weeks rent.
The deposit is held to cover damages or dilapidations caused by the tenant during the tenancy. The deposit will be held in a deposit scheme for the duration of the tenancy.
The deposit will be refunded after the tenancy ends once both parties have agreed to any dilapidation charges.
An inventory clerk will list all items in the flat and the condition of the flat. This will be checked at the beginning and end of the tenancy.
7. Utilities Council Tax and Broadbands
Park Estates will notify all utility companies of your details and provide meter readings which will be taken on your moving in date. You will have to contact the broadband, phone and satellite companies direct. We will also notify the local council with regards to council tax payments that will be due for the duration of your tenancy.
8. TV Licence
The tenant is responsible for paying the licence fee for any television set up in the property or if you watch programs on your laptop.
9. Late Payment Charge
If the rent is paid late by more than 14 days a charge of 3% above the Bank of England base rate will be charged.
Should you require any further information or do not understand any of the above please contact our office, where we will be happy to assist.
Alternatively, please check the following website for information https://www.gov.uk/government/publications/how-to-rent