Tenant’s Guide and Fees 2018-01-30T19:07:32+00:00

Tenant’s guide and fees

The purpose of this tenant’s guide is to provide you with information relating to a typical tenancy and the costs involved if you proceed to apply to rent a property through M & M Properties.

The fees mentioned are the maximum it will cost to secure and move into a property but will of course depend on your individual circumstances and how many people are applying to rent a property. Whilst every care is taken to ensure we are transparent at all times regarding our fees and services, changes can and will occur such as seasonal promotions, it is therefore extremely important that you contact us directly for an up to date assessment of your rental needs.

Tenancy application

When you have found a suitable property to rent you will be required to complete an application form. One form will be required for every person applying and intending to live at the property over the age of 18 years. These forms are to be submitted with the accompanying reference and Tenancy agreement/administration fees.

All reference checks are carried out by a professional referencing company and will include a credit reference, an Employer’s reference, an Accountant’s reference and a previous Landlord’s reference.

You will be required to provide two forms of identification which will include a valid passport and a recent copy of official correspondence, i.e. utility bill at your last most recent stated address. Under the Immigration act 2014 we are unable to offer a tenancy unless the person applying is a British Citizen or a national from a country within the European Economic Area (EEA), a Swiss national or has a right to rent in the UK.

In the event a Guarantor is required, the same reference procedure will apply. If the application is successful the Guarantor will be required to sign a ‘Deed of Guarantee’.

We are unable to hold a property until a completed application form has been submitted and all associated fees have been paid. Once we start the referencing process all other work associated with your proposed move will commence, including preparing the property for occupation and the preparation of all legal documentation including your Tenancy agreement.

The Tenancy agreement /administration fee and reference fee is non refundable should your application be unsuccessful or is withdrawn by you.

Fees

Reference fee per applicant  £85.00

Tenancy agreement /administration fee  £275.00

Renewal or extension of original agreement  £98.00

Guarantor agreement  £95.00

All above mentioned fees are inclusive of VAT at the current rate of 20%

Age

All applicants applying for rented accommodation must be over the age of 18. We cannot consider any applicants beneath this age. Any applicants under the age of 21 years will require a Guarantor unless otherwise stated

Tenancy agreement

Before a tenancy commences you will be required to sign a tenancy agreement outlining the Landlord’s and Tenant’s obligations. The Tenancy will be created for the sole use and occupation of those Tenants named on the tenancy agreement. The Tenant(s) cannot assign or sublet or take in any lodger or paying guest or part possession of the whole or any part of the premises, nor allow any non-paying occupiers to be resident at the property on a regular basis. No application will be considered with more than two people sharing unless the express permission of the landlord of the property has been given.

Renewal or extension of your tenancy

Your initial term of tenancy is likely to be for a six month period although this will vary with each Landlord. It is therefore important for you to confirm the length of tenancy before proceeding with your application. Any extension or renewal of contract will attract a renewal fee.

Holding fee and dilapidation deposit

Once references have been taken and accepted you will be required to pay the holding fee equivalent to one and a half month’s rent. At the commencement of the tenancy this holding fee will be reassigned to become the deposit held against damages. Some properties may have an increased deposit, it is therefore important to confirm the deposit amount on the property you are applying for at the time of reservation. The deposit is held against any damages or dilapidation caused as a result of the tenancy.

Tenants Dispute Service

Your deposit will be protected under the housing act of 2004 via the Tenants Dispute Service. M & M Properties will provide you with a certificate and guide on how your deposit has been protected and how, if a dispute arises, can be resolved swiftly, inexpensively and impartially.

When do I sign and what do I pay

Once references have been accepted and the holding fee has been paid, the date you were working towards for your move will be confirmed and the final work required to meet this date will be completed. You will receive a contract pack via email providing you with all the documents relating to your new property. It is our intention to have these documents sent to you well in advance of your move date but of course this will depend on how quickly you need to move from first applying. Signing of the agreement and payment of the first month’s rent will take place at an agreed time prior to taking possession of the property.

Deposit and rent need to be paid in cleared funds prior to taking possession. Please note if you are paying by personal cheque we will require this ten days before clearance can be confirmed.

The method we use for calculating the daily rent is: monthly rent divided by the days in that said month.

Rent Payments

All rent is payable in advance on the first day of each month. A standing order will be required to be signed. Payment to be made 3 working days before the due date.

Other charges

Company renewal of Tenancy

£200.00

Relocation-agent handling fee

£200.00

Company application and tenancy agreement

£420.00

New tenancy agreement due to name change

£250.00

Pet Licence

£115.00

Rapid move in (within 3 days of applying)

£95.00

Rapid move in (within 5 days of applying)

£55.00

Saturday sign up and move in

£125.00

Outgoing reference

£45.00

All above mentioned fees are inclusive of VAT at the current

rate of

20%

Pets

If a Landlord accepts a tenancy with a pet you will be required to sign a separate pet licence and pay an increased deposit.

Inventory and schedule of condition

An inventory and schedule of condition of the property, its contents, condition, furniture, fittings and effects will be prepared.  A period of seven days from commencement of the tenancy will be allowed for you to check, agree, sign and return the inventory. If you have made any amendments to the inventory, those amendments will be verified by M & M Properties. The inventory and schedule of condition forms part of your tenancy agreement, you should check it thoroughly as it will form the basis of any defence or dilapidation claim by the Landlord at the end of the tenancy period.

Inspection visits

Many managed properties are subject to inspections which are carried out at a mutually agreed time. The purpose of the visit is to check the condition of the property, the general cleanliness, garden maintenance and how the tenancy is generally being conducted.

Keys

M & M Properties hold a key to most managed properties.

Utilities

M & M Properties will arrange for gas, electric, water and council tax to be transferred into your name once the tenancy has started. We strongly recommend you also verify all meter readings and notify service providers to ensure your accounts are set up as soon as possible after you have moved in.

Insurance

The tenant is responsible for insuring his or her personal effects. It is strongly recommended that Tenant liability insurance is taken out covering the Landlord’s fixtures and fittings. Nil excess policies available. You can access a quote online here.

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Tenant’s obligations

The responsibility of the property lies firmly with the Tenant. It is particularly important that when you are absent from the property for any length of time the property is properly secured and in the winter months the necessary steps are taken to prevent freezing of water pipes and heating systems. If you are in a flat or maisonette, you will also be bound by the rules of the management company covered in the head lease. You should inform M & M Properties immediately if you are aware of a problem that is harming the property or one that may cause damage.

Agent’s obligations

Our obligations will vary depending on the agreement we have with the Landlord. We will advise you at the start of the rental process as to whether we are letting and managing the property or just securing a Tenant only for the Landlord. Any fees paid by the tenant when applying to rent a property do not constitute a right of tenancy but are for the sole intention of covering the cost of the administration M & M Properties will incur.

Refunds

We aim to always be fair with your application and understand that things do not always proceed as planned. Where your application does not proceed you can expect us to deal with refunds as follows:

  • If your offer of rent prior to references being taken is not accepted by the Landlord, any fees paid to us will be fully refunded.
  • Once we have started to process your application to rent a property and you withdraw for whatever reason, your reference fee, tenancy agreement/administration fee and holding fee is not refundable.
  • If you are declined a Tenancy due to your completed references not matching your application forms, your reference fee and Tenancy agreement/administration fee will not be refunded.
  • If your references match your application form but are declined by the landlord you will be entitled to a full refund of all fees paid.

The reference fee is paid to cover the administration cost involved in obtaining references including checking your credit status, employer, current or past Landlord and any other information enabling us to confirm your suitability for a Tenancy.

The Tenancy agreement/administration fee is paid to cover the cost of preparing your move into your rented property. This also includes all relevant documentation, including the preparation of the tenancy agreement and protection of the deposit. We do not charge for the check-in or the check-out procedure.

Our Services

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