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 submit a formal application, and will be named within the 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.
Identification documentation and proof of current residency must be provided for each adult wishing to live within the property. Landlords and Letting Agents are obliged to carry out Right to Rent checks to determine the immigration status of all prospective adult tenants before the start of a tenancy.
The Tenancy Agreement
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.
A property cannot be held in reserve until a holding deposit has been paid. This will be equivalent to one week’s rent of the above monthly rental. The property will be suspended from the letting market and held for a maximum period of 15 days.
- Holding deposit; equivalent to one weeks rent. This payment will be deducted from the first month’s rent or paid back to the tenant via bank transfer once referencing has been completed and a tenancy start date agreed. Please see our terms and conditions for more details.
- Late payment of rent; 3% above the Bank of England base rate which, after 14 days can be backdated to the day rent was due.
- Any alternations/variations to the tenancy agreement; £50.
- Early termination fee (with landlords consent) £360.
- All charges are inclusive of vat.
The holding deposit is non-refundable if the tenancy does not go ahead due to the tenants providing false or misleading information, pulling out or failing the right to rent check. Details will be put in writing to the tenants within 7 days of the application not proceeding.
- Any keys or security devices that are lost during the tenancy will be charged to the tenant.
Tenancy Deposit Scheme
It is a statutory requirement that all deposits are protected. GTH operate a custodial based scheme with The Tenancy Deposit Scheme and are members of RICS and ARLA. 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
Schedule of Condition & Inventory
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. GTH reserve the right to arrange the first visit within the first month of the tenancy and every three months thereafter.
Utilities & Insurance
GTH will be in receipt of a referral fee of 20% for all Tenant Liability Insurance policies from Rent4sure if accepted by the tenant. (i.e. based on a cover premium of £79, GTH will receive a referral fee of £15.80)