Tenants

Depending on the referencing outcome of your application, your earnings or overall financial position, we may require you to provide a Guarantor. This is not uncommon, and means you have someone on your behalf that will undergo credit referencing to ensure they have sufficient earnings to cover the overall rent commitments in the event that you, as the tenant, are unable to pay your rent. This fee is payable in respect of each Guarantor to cover credit referencing costs and providing a Deed of Guarantee as part of the Tenancy Agreement, which details their obligations as a Guarantor.

This may be applicable if a change to the tenancy is required mid-term. This may be a request to add or remove a tenant due to a change in personal circumstances.

This is the cost of preparing a new Tenancy Agreement and negotiating with your landlord for a further fixed term tenancy. Extending your tenancy, if agreed by your landlord, gives an assurance of staying in the property for a further fixed period, and avoids the uncertainty of a landlord serving notice at any given time.

This is the cost of negotiating an early termination of your fixed term agreement with the landlord (subject to landlord approval) and includes our remarketing fee.

As part of the tenant application process you will need to complete our tenant application form which can be printed off from our website. This will need to be supported with the following documentation: ID, Visa (if appropriate), proof of address, proof of income – 3 pay slips if employed or 2 years accounts if self employed – and your last three months bank statements showing mandated income. On submission of the application, you will need to pay all appropriate fees as detailed above. We will undertake a review of all paperwork and undertake as a minimum anti-money laundering checks, ID checks and a credit check. We may also look to look to obtain a prior landlords reference and/or employment reference depending on the result of our review. Where it is determined a guarantor is required we will undertake the same checks on the guarantor.

Unless otherwise agreed, your deposit will comprise of a full months’ rent plus £100. Since 6 April 2007, all deposits taken by landlords and letting agents under an Assured Shorthold Tenancies (AST) in England and Wales must be protected by a tenancy deposit protection scheme. To avoid any disputes going to court, each scheme is supported by an alternative dispute resolution service (ADR). Landlords and letting agents can choose between two types of scheme: a single custodial scheme and two insurance-based schemes. If the deposit is placed in the deposit scheme by Sidney & Co. we will use the custodial scheme. Where the landlord decides to hold the deposit themselves we will transfer it to them within 5 days of receiving it. They must then register it with a tenancy deposit protection scheme within 30 days of its initial receipt. If they fail to do so the tenant can take legal action against them in the County Court. We will notify the tenant where the deposit is being held within the Assured Shorthold Tenancy agreement.

The tenancy agreement is a legal document which acts as a contract between you and the landlord. It specifies certain rights to both you and the landlord, such as your right to live in the home for the agreed term and your landlord’s right to receive rent for letting the property. An Assured Shorthold Tenancy (AST) is the most common form of tenancy agreement and sets out the duties of both tenant and landlord. The most important aspect of this agreement is that the landlord has the right to repossess the property at the end of the agreed term. There is no minimum term specified either, although the tenant has the right to remain in the property for at least six months, unless the landlord seeks repossession for an allowable reason set out in the Housing Act 1988. The tenancy agreement will contain the following: your name, your landlord’s name and the address of the property which is being let, the date the tenancy will commence and expire, the duration of the tenancy and the amount of rent payable and when payment is expected, the deposit amount and how it is protected, in what situation can the deposit be withheld, and tenant and landlord obligations. Towards the end of the tenancy term you need to notify the landlord (via the agent for a managed property) of your intention to either extend the agreement with their permission, or vacate.

We will undertake a detailed photographic inventory of the property when you move into the property and agree the same with you. This will protect both you and the landlord in the event there is a dispute regarding damage to the property which is considered in excess of normal ‘wear and tear’. In such situations, if it determined that the property or its contents have been excessively damaged, then we will look to agree a financial settlement with you on behalf of the landlord which places the property back into an acceptable condition. The photographic inventory can help in this regard particularly should there be any need for recourse to an alternative dispute resolution (ADR) service or court action.

Unless otherwise advised, the tenant is responsible for paying their own council tax and utility bills. Upon moving into the property, we will inform the local authority and suppliers as to the change of occupier. If the property you are interested in is in a block of flats or is a serviced apartment, there may be a service charge to pay. We will clarify with you whether this is included in the rent or whether this will be an additional charge.

We would suggest that you have contents insurance in place prior to signature. Not only does this protect your own contents, it will also protect things like carpets, landlords furniture (such as kitchen and bathrooms equipment etc.) which can protect your deposit should damage occur.