All persons over the age of 18 wishing to move into their chosen property must complete a reference form and be named on the Tenancy Agreement. References will be undertaken, for which a charge is payable by you. The referencing agent will contact your employer/accountant and current/previous landlord. A credit check will also be carried out.
As an indication of your commitment to renting the property, and in consideration for the landlord not actively marketing the property pending the result of the credit checks, a one week hold fee is required. This will be accounted for as a credit in your move in balance invoice.
Please note that if your references are unsatisfactory to us or the landlord, or fail due to undisclosed/falsified information, or you withdraw from renting the property then the one week holding fee is non-refundable. Should the landlord withdraw from letting the property (other than for the reasons aforementioned) the one week holding fee will be refunded in full. The reference fee is non-refundable once the referencing procedure has commenced.
If the applicant is a company, the company must be based in the UK.
In most cases, in order to pass the affordability criteria you should be earning at least 30 times the monthly rent. If you are unsure if you are earning enough to meet these criteria, contact us prior to your references being processed. If you are not earning enough you may have the option subject to the agreement of the landlord of providing a guarantor for your tenancy or paying rent in advance. Please note that guarantors must be UK resident.
Move In Balance Invoice
This will be provided to you before the commencement of the tenancy and it will set out the balance due on or before the agreed move in date. Please note that keys will not be released until your balance is received by Robert Vincent in cleared funds. Payment may be made by BACS/CHAPS transfer to our account or by bankers draft. Please note that we cannot accept cash to pay your move in balance.
- First month’s rent in advance.
- Five weeks security deposit.
- Holding Deposit : One week holding fee. The reference fee is non-refundable once the referencing procedure has commenced.
Security Deposit & Tenancy Agreement
Robert Vincent will prepare a Tenancy Agreement for both parties to sign. You will have the opportunity to read the Tenancy Agreement and raise any questions before signing.
The Tenancy Agreement is a legal document and you are recommended to take independent legal advice before signing it. Your return of the signed Tenancy Agreement will be treated as your authority for Robert Vincent to date and complete the Tenancy Agreement, thus committing you to the Tenancy on the agreed start date. Please note however that your return of the signed Tenancy Agreement will not create a binding contract until we receive the Landlord’s signed part of the Tenancy Agreement and the landlord’s express confirmation to complete the Tenancy Agreement. In addition keys can not be released until we are in receipt of the full cleared funds as set out in the move in balance invoice.
The security deposit is held against the tenant adhering to all their obligations set out in the Tenancy Agreement; particularly those to do with cleanliness & condition of the property and payment of rent and utility bills. The deposit will be held by the Deposit Protection Service. No interest is payable to either party. At the end of your tenancy, the deposit will not be released until agreement is reached between both parties regarding any necessary deductions.
Rent is payable in advance by standing order, either to Robert Vincent or direct to your landlord depending on which service your landlord has chosen. Please ensure your standing order is set up so that rent arrives on the due date.
Inventory & Schedule of Condition
The Inventory & Schedule of Condition details the fixtures and fittings and describes their condition and that of the property generally. The Landlord covers all cost associated in preparing and checking the inventory. The inventory & schedule of condition helps protect the interests of both landlord and tenant by providing an independent assessment of the property at the commencement of the tenancy. It is preferable that tenants are present at the check in as this document will be used at the end of the tenancy when comparisons are made. These will form the basis for any necessary deductions from the deposit.
During the tenancy
Tenants are expected to abide by their obligations set out in the Tenancy Agreement. If the property is managed by Robert Vincent we will contact you during the tenancy to arrange property inspection visits.
(New Tenancies Signed On Or After 1 June 2019)
These are the fees which we are entitled to charge you under the Tenant Fees Act 2019 and
applies to all assured shorthold tenancies signed after 1 June 2019. Note this does not affect our right to claim compensation for breach of contract.
Holding deposit (per tenancy)
One week’s rent.
This is paid to reserve the property and will be held by us for a period of 15 days unless we agree otherwise.
At the end of the 15-day period (or such longer period as we may agree) the deposit will be refunded to you or be offset against your rent or deposit as agreed unless any of the proposed tenants or guarantors:
- withdraw from the tenancy
- fail a Right-to-Rent check
- provide significant false or misleading information, or fail to sign any of the required
documentation (including the tenancy agreement and guarantee)
Allowable tenancy Deposit per tenancy
- Where the rent is less than £50,000 pa— Five weeks rent
- Where the rent is £50,000 pa or more — Six weeks rent
- If rent is unpaid for more than 14 days, interest will be payable at 3% pa above the Bank of England base rate, until the rent is paid.
Lost keys or security devices
- You will be liable for the actual cost of replacing any keys or other security devices, or, if the locks need to be changed you will be responsible for the actual locksmith’s costs together with the costs of the new lock and replacement keys. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Tenancy Variation at tenant’s Request
- If you request any variation to the terms of the tenancy agreement after it has been signed, we agree to, we are entitled to make a charge of £50 (inclusive of VAT) per agreed variation.
Change of tenant at tenant’s request
- If you request to change the named tenant/s in your tenancy agreement then, if we agree to this, we shall be entitled to charge a fee of £50 (inclusive of VAT) or our reasonable expenses incurred in doing this if these are higher than £50.
- Reasonable expenses would include the cost of taking the landlord’s instructions, referencing the new tenant, carrying out a Right to Rent check, dealing with deposit registration, creating a new inventory and the preparation and signature of new legal documents.
Ending a tenancy early at tenant’s request
- If you want to end your tenancy before the end of the fixed term, then you will be responsible for the landlords reasonable costs for re-letting the property as well as all rent due under the tenancy until the start of any new replacement tenancy, However, our costs and rent combined cannot be more then the total amount remaining rent due under the tenancy.
Robert Vincent Estate Agents are a member of The Property Ombudsman Redress Scheme.
Robert Vincent Estate Agents provide CMP cover with Client Money Protect (Scheme no: CMP005576).
If you wish to discuss any of the above please call Robert Vincent on : 020 8655 3257