Tenancy Set Up/References: When a suitable property to rent has been found ALL persons aged 18 and over will have to complete an Initial Holding Deposit form along with an application form as you will all be named on the Tenancy Agreement. We will check your credit status, current employer and previous employer, dependent of the length of time in employment, current or past landlords as well as any other information required to help assess the affordability of your tenancy application.
Security Deposit: Before your tenancy commences you will be required to pay a security deposit. This deposit is either passed to one of the government backed schemes or passed to your landlord for them to secure.
The deposit is held against any damages or expenses arising during your tenancy and will not be released until you vacate the property, all rent has been paid up to date and any agreed costs to be deducted has been agreed by both parties.
Tenancy Deposit Protection: From 6 April 2007 it has become a legal requirement that when you pay a deposit for an Assured Shorthold Tenancy you Landlord or Agent must register it with a government authorised tenancy deposit scheme. This is to ensure you get all or part of your deposit back that you are entitled to, and any disputes will be easier to resolve. Your Landlord or Agent must give you details about how your deposit is protected within 28 days of you paying it. Also included will be the contact details of the scheme and what to do if there is a dispute at the end of the tenancy.
Inventory & Schedule of Condition: An Inventory & Schedule of Condition of the property, its contents, furniture, fixtures and fittings will be prepared. It is important that you take care in agreeing the Inventory at the beginning of the tenancy as it forms the basis of any claim for damages by your landlord.
Rental Payments: All rent is payable in advance by standing order. If you experience any financial problems during the tenancy it is essential that you contact Chase Independent or your Landlord immediately.
Tenants Obligations: You should be aware that responsibility for the property rests with you, the tenant, during the tenancy. It is particularly important that any gas or electrical problems, or water leaks are reported immediately and the property is left secure when you leave it unattended at any time.
During the winter months, necessary steps must be taken to prevent the freezing of the water, pipe works and heating systems.
In Leasehold properties, mainly flats and maisonettes, the tenant will be bound by the rules and regulations along with the residents within the block, contained in the head lease.
Agents Obligations: The obligations of Chase Independent will vary depending on which of the following services we provide for:
• Letting and Property Management
• Letting Only
You will be advised which of the above apply prior to your tenancy commencing, should you need further information regarding a specific property please contact Chase Independent.
BEFORE YOU MOVE IN:
Initial Holding Deposit: The Tenant(s) will be required to pay an Initial Holding Deposit equivalent to one weeks rent to reserve the property pending references. This can be used towards the first rental payment once the tenancy is completed.
Cancellation: If a tenant withdraws from the application the Initial Holding Deposit will not be refunded.
Application Declined: If a tenant fails the application process the Initial Holding Deposit will not be refunded.
DURING YOUR TENANCY:
Late Payment of Rent: From that date the payment is missed, Tenants may be charged a daily interest of 3% above the Bank of England base rate until the arrears are settled.
Loss of Keys: If a Tenant loses keys to the property then they will be charged the cost of replacement keys.
Changes to Tenancy: Where the tenant has requested a change to the tenancy, such as change of sharer or variation of contract, a charge of £60.00 inclusive of VAT (£50.00 plus VAT) for the change will be incurred.
ENDING YOUR TENANCY:
Early Surrender: Where a tenant requests early surrender of the tenancy, the landlord will be able to charge the equivalent of the rent lost due to the unforeseen void period.