Tenants

Why rent through us?

We can offer a professional and helpful service to help find the right home for you. Please find below some useful information that will guide you through the process of renting with us.

Application

Once settled on a particular property you wish to rent, we will ask you to complete a written application form. The planned commencement date shall also be determined.

Administration / Agency Fees

At the point you submit your application, an administration fee of £240 (plus VAT) per property is payable by the prospective tenant(s) to the agency once an application has been made for a property and the landlord has decided to proceed with referencing checks. The fee will cover the administration, including the preparation of the tenancy documentation and contracts.

An additional credit check and referencing fee of £60 (plus VAT) is payable per tenant or guarantor.

The fees are non-refundable if you fail or withdraw the application.

Holding Deposit

In order to take the property off the market until the planned tenancy commencement date, a holding deposit is required (usually equivalent to 1 weeks rent). The holding fee secures the landlord against all reasonable costs incurred should you withdraw from the agreement or fail to take up the tenancy within the agreed timescales. This is payable at the same time as the Agency Fee. 

The holding deposit amount is deducted from the first month’s rent owing when a tenancy commences and therefore is not an extra charge/fee.

The holding deposit amount is non-refundable should the applicant withdraw, however should the landlord refuse to offer a tenancy the amount will be fully refunded to the applicant minus the administration/agency fee.

Referencing

As part of the application, we will endeavour (with your permission) to obtain written references to support the information you provide. This will usually mean contacting your employer, current or previous landlord and someone to give you a character reference. We will also carry out a credit search, using an independent referencing company.

Should we decide a guarantor is required before a tenancy can be granted; the same process of referencing will apply to the guarantor.

Restrictions

Some landlords may wish to apply certain restrictions to a tenancy. Please find below some examples of typical restrictions that may be imposed:

  • Smokers
  • Company Lets
  • Students
  • Pets

You should be advised of any restrictions before an agreed viewing of a property takes place.

Self Employed Applicants

If you are self-employed, we will require a written reference from your bank and accountant. We will also require accounts, usually dating back a minimum of 1 years.

Student Applicants

If you are a student who cannot prove a consistent and sufficient income, you will need a parent, relative or close friend to guarantee the rent and adherence to any other tenant obligation listed within the agreement.

Renewal of tenancy 

Please contact us two months in advance if you wish to extend your tenancy. If the tenancy is renewed (subject to landlord approval), a fee of £180 (plus. VAT) will payable to cover our administrative works.

Tenancy Deposit Scheme

At the start of every tenancy we collect a deposit, normally a minimum of 6 weeks rent. This is used in the event of breakage or damage caused.

In accordance with the Housing Act 2004, landlords are no longer permitted to retain a tenant’s deposit and must select either an insured based or custodial based scheme in which to hold a tenant’s deposit. A statutory certificate is then supplied to the tenant, advising on which approved scheme protects the deposit. This must be done within 14 days of the tenancy start date. Please speak to one of our representatives for further information.

What happens if there is a dispute at the end of the tenancy?

In the event of a dispute, both parties will have 10 days to resolve the matter. If no resolution has been reached, they will be invited to make use of the Alternative Dispute Resolution process that is provided free with their chosen deposit scheme. Should the parties opt for Alternative Dispute Resolution they will be bound by its decision with no redress to the courts.

When can I check in?

As soon as we receive satisfactory replies to our reference enquiries, we shall contact you to agree a time to move in on the planned commencement date and arrange a date for the inventory and check-in.

We would advise that for the start of the tenancy, you arrange for gas, electric, water, telephone and council tax accounts to be transferred into your name. Please speak to one of our representatives, who will instruct you further.

Inventory/Schedule of Condition

Oliver Stern is usually instructed by the landlord as to what arrangements are to be made for the inventory and check-in/check-out process. Unless agreed otherwise, the landlord will be responsible for the cost of check-in and the tenant will be responsible for the cost of check-out. We advise you to make yourself available for the check-in and check-out.

Where Oliver Stern organise an end of tenancy inventory check out inspection, a fee of £180 (plus VAT) will be charged. Where a landlord organises this inspection independently of Oliver Stern, the charge may be greater than this amount.

Tenants Insurance

When renting a property it is very important to make sure you are covered by insurance for any damages that may occur. The landlord’s own insurance will not cover the tenant’s belongings. It will also exclude cover for if a tenant accidentally damages the landlord’s property and therefore it could result in the loss of your deposit to cover the repairs.

Please speak to one our representatives for further details.

Rent

Rents are paid in advance and by standing order unless otherwise agreed by the landlord /agent.

 

 

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