You have found a home you would like to rent, what happens next?
All agents have different ways of working and below is our procedure for applying for one of our properties. The Government have also published an excellent guide for tenants which can be downloaded here.
In order for us to approach the landlord with your application, each applicant must complete our pre-qualification form. Once the landlord has agreed the application in principal each applicant will then be sent an email link from our referencing partner Goodlord to complete the application form and pay the holding deposit online. Please note that a holding deposit does not guarantee you the property as the final decision on any application is that of the landlord and not Archer Bassett.
Your holding deposit will be refunded in the follow circumstances:
- The landlord rejects your application or does not make a decision on your application within 15 days of you placing your holding deposit, whichever is sooner
- Your application is accepted. The holding deposit will be refunded into your rent account towards the initial rent payment
Your holding deposit will not be refunded in the follow circumstances:
- You decide not to proceed with your application
- You do not complete and submit your application or fail to provide requested information within 15 days of you placing your holding deposit
- You give a false or misleading statement on your application form
- You fail the “Right to Rent” check
Once we have received completed forms from all applicants the application will be processed by our referencing partner Goodlord and each applicant will be able to track the progress of their application via the Goodlord platform.
Once Goodlord have confirmed satisfactory references have been received for all applicants and the landlord has agreed to proceed the tenancy agreement will be made available to sign online along with instructions of how to pay the move in monies (an example of which is detailed below).
- One month’s rent in advance (less any holding deposit paid)
- Tenancy Deposit equivalent to a maximum of five weeks rent
Example based on a rent of £650.00 per calendar month:
Holding Deposit £150
Rent (less Holding Deposit) £500
Tenancy Deposit £750
All move in monies are paid by bank transfer to Goodlord and your tenancy deposit is only refunded at the end of your tenancy as long as the tenancy agreement has been satisfactorily conducted.
It is your responsibility to ensure that your possessions are adequately insured. You (and any guarantors) are also required to provide us with the following:
- You must prove that you have a right to rent a property in the UK. This can be a UK or Irish passport or by providing a share code for us to validate with the government.
- Proof of photo identity (passport or driving licence)
- Proof of current address; acceptable types are: - recent utility/council tax bill / current TV licence / current mortgage statement / tenancy agreement signed and dated within last 6 months / bank or credit card statement dated within last 3 months / letter from your employer on headed paper, signed and dated. This list isn’t exhaustive and our team will review documentation not detailed above.
Your Tenancy Deposit
It is a legal requirement for all letting agents and landlords to protect your tenancy deposit in a government approved scheme. For our managed properties your tenancy deposit will be registered and protected with the Tenancy Deposit Scheme for the entire term of your tenancy and you will receive a certificate as proof.
If we do not manage the property you will be advised accordingly before you sign your tenancy agreement as this will differ from landlord to landlord.
Does my holding deposit need to be protected?
No, holding deposits do not have to protected but your holding deposit will be allocated to your first months rent if you are accepted for tenancy by the landlord.
How much tenancy deposit is required?
Your tenancy deposit will be the equivalent of five weeks’ rent and this is calculated by using the below:
For example, for a property with a rent of £650.00 per month your tenancy deposit will be £750.00 (£650.00 x 12 months ÷ 52 weeks x 5 weeks = £750.00)
When will I get my tenancy deposit back?
At the end of your tenancy we will compile a check out report which is then compared to your original check in report to see if there any damages or changes to the condition. Normal wear and tear and your length of tenancy are also taken into consideration. If there are no issues and the landlord approves you will get your tenancy deposit back within 10 days.
What can the landlord deduct from my tenancy deposit?
It is important to remember that it is normally the landlord that requests any deductions from your tenancy deposit and not the letting agent. If there are any issues with the property we will inform you in writing if the landlord requests any deductions along with the costs once we have them. Common types of deductions are:
- Rent arrears
- Unpaid utility bills
- Property damage beyond wear and tear
- Removing belongings
- Poor maintenance of gardens
- Incorrectly filled bins
If you agree with the landlord’s deductions and have informed us in writing we will organise a prompt refund of the undisputed portion of your tenancy deposit. If you disagree with the deductions then you must put this in writing to our property management team who will then try and negotiate with your landlord. If no agreement can be reached you can raise a dispute with the Tenancy Deposit Scheme. You have three months from the end of your tenancy to raise a dispute.
You can also be safe in the knowledge that we are members of ARLA Propertymark and part of their Client Money Protection (CMP) Scheme which offers recompense to tenants and landlords of rent, unprotected deposits or other client funds in the event that monies have been misappropriated or fraudulently used by an ARLA Propertymark firm.
To view a table of our Tenants fees click here