A Guide for Tenants

When you have seen the property you are interested in renting, all occupiers over the age of 18 will need to complete a Tenancy Application Form and will be named in the formal Tenancy Agreement. References will be taken up on behalf of the Landlords which normally include credit checks, current employment details, previous Landlord/Letting Agents references and if self employed, accounts and income details for the past three years.

A fee is payable at this stage to cover the cost of administration and referencing. A property cannot be held in reserve until all relevant monies have been paid. The application fee is non-refundable if the tenancy does not go ahead due to unsuccessful references or you withdraw from the application. In the event that the property is withdrawn or the Landlord does not wish to proceed you will receive a full refund of all application fees paid.

This is a contractual Agreement between yourself and the Landlord. It is a legally binding document on both parties and clearly sets out the terms and conditions and the obligations of both parties during the period of the tenancy. Most tenancies will be of a Standard Assured Shorthold format and will run for a minimum period of six months and thereafter on a month to month basis or such other period as may be agreed between the parties.

Before you can take occupation of the property, the Tenancy Agreement must be signed and we must hold cleared funds representing the deposit and the first month's rent.

All charges quoted are shown inclusive of VAT

1	Administration	£216.00
2	Additional applicant	£96.00
3	Check out inventory	£90.00
4	Guarantor referencing	£96.00
5	Company reference check	£216.00

Administration fee – 1 & 2
These charges incorporate all related costs of processing an application for a tenancy including retrieving critical information to comply with the Right to Rent checks initiating referencing, contract negotiation (amending & agreeing terms), processing all relevant paperwork throughout and finalising formal Tenancy Agreements. £216 inc VAT for a single tenant, £96 inc VAT per additional tenant. Charges become payable upon commencement of the application process. At any time during the application process should tenants decide not to proceed or fail referencing, then application fees are not refundable.

Check out fee (Fully managed tenancies only) – 3
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s) £90 inc VAT

Guarantor fee – 4
Where a guarantor is required, additional referencing will be undertaken and further information required on each guarantor that is nominated by the tenants and preparing a guarantee as part of the Tenancy Agreement. The related charge shown is applied per individual guarantor and becomes payable following receipt of the tenant's references and once the guarantor/s completes the relevant application form. £96 inc VAT. The fee is for undertaking referencing, obtaining satisfactory identification and preparing a guarantee as part of the Tenancy Agreement. In the event of the tenancy not being finalised for any reason or the replies to referencing proving unsatisfactory, such charges are not refundable.

Company let – 5
For retrieving critical information, initiating referencing, processing all relevant paperwork throughout, preparing and finalising formal Tenancy Agreements. £216 inc VAT. Where applicable, charges become due upon commencement of the application process.

Deposit
The tenants are required to pay a deposit prior to move in to protect the landlord against any damage incurred during a tenancy which is deemed to be beyond normal wear and tear. The deposit will be equivalent to 6 weeks’ rent and will be paid just prior to commencement of the tenancy. Where Greenslade Taylor Hunt are protecting the deposit, we will register the Landlord and tenant details and protect the security deposit with a government-authorised scheme. Provide the tenant(s) with the deposit Certificate and Prescribed Information within 30 days of the start of the tenancy.
 
The fees charged to the tenant may change and we will endeavour to inform you of such a change at the earliest opportunity.

• £30.00 - charge for any letter sent to the tenant(s) concerning breaches of the tenancy agreement.
• £24.00 - charge for any payment presented to the Agent’s bank returned, refused or re-presented by the bank for any reason. This fee will apply for each presentation which fails.
• Interest on rent arrears (the Landlord reserves the right to charge) – 6% per annum calculated from the date the payment was due up until the payment is received.
• £312.00  - early termination fee (with Landlords prior consent)

It is a statutory requirement that all deposits are now protected. GTH operate an insurance based scheme as members of RICS and ARLA through The Tenancy Deposit Scheme. The legislation sets out clear time scales and the manner in which deposits and any disputes are to be dealt with at the end of a tenancy. For further information please visit the website www.tenancydepositscheme.com

The TDS also offer a new free custodial scheme alongside its original insured deposit protection plan. More information about the new scheme can be found here: www.custodial.tenancydepositscheme.com.

Where properties are managed by GTH, they will be the subject to periodic inspections in order to confirm that the manner in which you are occupying the property is correct and that you are complying with your obligations under the terms of the Tenancy Agreement. The first visit will be within the first month of the tenancy.

Insurance

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