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.
A holding deposit equivalent to one weeks rent must be placed in order for us to approach the Landlord with your application. This can be paid by bank transfer, cash, debit or credit card. Each applicant will then be sent an email link from our referencing partner HomeLet to complete your application form online. Please note that we cannot approach the Landlord without all completed application forms. 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
Your application will then be submitted to the Landlord for their agreement in principle. Once we have received this your application will be processed by our referencing partner HomeLet who will send each applicant their own application tracker so you can keep up to date with the progression of your application.
Once HomeLet have confirmed satisfactory references have been received for all applicants you will be invited into the office to sign the tenancy agreements and pay the remaining balance (which is detailed below) within 15 days of you placing your holding deposit.
- 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||£ 150.00|
|Rent (less Holding Deposit)||£ 500.00|
|Tenancy Deposit||£ 750.00|
The easiest and safest way to pay is by bank transfer but we can also accept payment by debit card, bankers draft or building society cheque. Cash, credit cards and personal or business cheques will not be accepted. 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 England by providing original documents such as an EEA or Swiss passport, national identity card, current Visa or Work Permit (other documents are acceptable so please contact us for a full list)
- 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 accredited by Safeagent 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 a Safeagent firm.