INFORMATION FOR PROPOSED TENANTS
Step 1: Referencing
Initial Cost: £45 per applicant
Guarantor Fee: £120 (inc VAT) if applicable
(Covering credit referencing and preparing a Deed of Guarantee as Part of the Tenancy Agreement)
Referencing is carried out by “Van Mildert” on behalf of Watts & Morgan LLP.
Includes identity & financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability, as well as contract negotiation (amending and agreeing terms) and arranging the tenancy agreement. Immigration checks are also carried out if required.
An application form is completed by the potential tenant, which is then submitted to Van Mildert, and providing all the information they request is supplied correctly, a reply is normally received within 2 to 5 working days. If further information is needed from the applicant, the report will be delayed.
Upon receipt of a final reference report, this information will be discussed with the Landlord. A tenancy cannot be guaranteed until confirmed by the Landlord.
Step 2: Moving In
On receipt of a successful reference, a suitable move in date is agreed, and tenancy agreements prepared along with a full inventory recording the condition of the property.
Step 3: Ingoing costs to be received by cleared funds on move in day
When a Tenancy has been granted the necessary monies, as listed below, must be paid by the agreed move in date.
Agency Fees: £240 (inc VAT)
e.g. total fees for 1 single tenant including referencing is £285.00 (inc VAT)
e.g. total cost for joint tenancy including referencing is £330.00 (inc VAT)
First Months Rent: Payable in advance is either cash or cleared funds.
Deposit: 5 weeks rent as a bond. Returnable at end of Tenancy, providing there is no outstanding rent / bills and the property is clean and tidy with no damage. If the property is managed by Watts & Morgan the deposit is protected under a government authorised scheme.
Pet Deposit: (if applicable) Security deposit of £100. To cover the added risk of property damage and carpet cleaning. This will be protected under a government authorised scheme and can be returned at the end of a tenancy providing there is no damage caused by the pet and conditions of the tenancy have been adhered to by the tenant relating to carpet cleaning / flea treatment.
Ending the Tenancy Early Fee: If agreed with the landlord to end the tenancy during a fix term a fee of £120 (inc VAT) will be charged.
Should you require any further information on any of our properties, please contact: The Rental Department on 01446 773500 (2) or email [email protected]