Guarantor
If you are under 18, a student, or unemployed you will need a guarantor. A guarantor may also be required if your income fall short of the required figure. Generally your income per annum should be at least 30 times the monthly rent.
Each guarantor will need to complete an application form and be referenced before a tenancy can be considered. The guarantor will also have to sign the deed of guarantee before the tenancy can proceed. Because we have to make a second reference in respect of a guarantor another admin fee will accrue to cover this additional process.
Tenants Administration Fee
We ask you to pay this fee to cover the administration costs of preparing the tenancy documentation and costs of credit references. The fee is payable at the time of submitting the application. Please see the enclosed information relating to charges. Please note that if your applications fails or is withdrawn, the cost is non refundable.
Security Deposit
Prior to the tenancy commencing you will be required to pay a security deposit equal to the maximum of one and half months rent. This deposit is held by Oakwood Properties as a third party.
The deposit is held against any damages or expenses arising during your tenancy and will not be released until after you vacate the property, all rent has been paid up to date and we have written confirmation of any costs for damages from both parties. No interest is payable to either party.
Tenancy Deposit Protection
Legislation regarding tenancy deposits came into force on the 6th April 2007. If you a landlord is not protecting a tenant's deposit the Landlord, may be ordered to repay the tenant 3 times the value of the deposit amount and will not be able to service a Notice of Possession. When a Landlord takes a deposit from a tenant, the deposit must be protected in a government- authorised tenancy deposit scheme. The schemes:
- Allow tenants to get all or part of their deposit back when they are entitled to it
- Make any disputes easier to resolve
- Encourage tenants and Landlords to make a clear agreement from the start on the condition of the property
Inventory and Schedule of Condition
An Inventory and Schedule of Condition of the property, its contents, furniture, fittings and effects will normally have been prepared. This will be checked and agreed with you at the commencement of your tenancy and a charge will be made to you.
It is important that you take care in agreeing the Inventory and Schedule of Condition at this stage as it will form the basis of any claim for damages, by your landlord, at the end of the tenancy.
At the end of tenancy the Inventory and Schedule of Condition will be checked again, the cost of which is borne by your landlord. In your own interests we strongly recommend that you are present at both the check-in and check-out.
If, however, the landlord does not require an inventory, there will be no charge for a check in.
Restrictions
Possible restrictions that landlords may impose are:-
- Pets
- Smokers
- Housing benefit
- Students
Please contact Oakwood Properties for further information of any restrictions that may apply.
When can you move in?
We estimate that It would normally take a minimum of 7 days before you will be able to move into your new home. All the parties involved usually make every effort to accommodate your moving date. Unfortunately we cannot give guarantees. We will notify you as to whether your application has been successful.
Once your application has been approved, a mutually convenient time and date will be agreed for the tenancy to commence. At this point it will be necessary for all prospective tenants and guarantor/s (where required) to attend the office to sign the tenancy agreements and other relevant documentation. Once the Tenancy Agreement has been signed you will receive a counterpart copy for your retention.
Advance Payment
Please note that an advanced payment of a month's rent and the security deposit must be paid before the keys can be released. Your initial payment can only be made by banker's draft or building society cheque.
Rent
You will also be asked to complete a direct debit/standing order mandate for the monthly rental payments. This will be payable each month in advance and will be collected on a set date as stated in the tenancy agreement. For joint or multiple tenancies, only one mandate can be accepted.
Tenants Content Insurance
You are responsible for insuring you own personal belongings. The Landlord is not responsible for this. Please obtain adequate contents insurance. If you would like a free, no obligation quotation, please speak to one of our experienced staff at Oakwood Properties.
Non-Managed Lets
For Non-Managed Properties where Oakwood Properties are not responsible for the management of the tenancy, Landlord's contact details will be given to you in case you need to report any maintenance problems.
Utilities
At the commencement of the tenancy, we will give readings to the gas, electricity and water suppliers notifying them change of occupier’s details. We will also write to the local authority for council tax purposes. Please note that we strongly recommend that you also inform the suppliers to ensure that your details have been received and processed.
Tenant's Obligations
You should be aware that responsibility for the property rests with the tenant during any tenancy. It is particularly important that any gas or electrical problems are reported immediately and the property is fully secured when you leave it unattended at any time. During the winter months, necessary steps must be taken to prevent the freezing of the water and heating systems.
In leasehold properties, mainly flats and maisonettes, the tenant will be bound by the rules and regulations affecting all residents within the block contained in the head lease.
The Agent's Obligations
The obligations of CRL will vary depending on which of the following services we provide for the Landlord:
- Let and manage the property
- Let the property and accept the rent
- Purely let the property
You will be advised which of the above apply prior to your tenancy commencing but should you need further details regarding a specific property please contact Oakwood properties.
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