So, you’ve decided to let your property – before you start, there are a number of extremely important legal requirements to take into consideration and, at Morgan Brookes, we can help steer you through your obligations and requirements and secure you a reliable and vetted tenant for your property.
Below, we’ve put together a guide to what you need to know about becoming a landlord, along with handy tips and a look at the services we offer to help take the strain out of renting your property.
So, you’re looking to rent a home it’s important to make sure that you are aware of all the facts and costs before signing on the dotted line.
All agents should conduct a personal and financial check on you before agreeing to let you a property, so it’s a good idea to know how your credit rating looks – you can check this out at Experian. You are also required to provide Identification and proof of address, this will allow you to meet the Right to Rent obligation.
Obviously you will be expected to pay rent, usually monthly but, there are also a number of other costs which may or may not be involved, you need to make sure that you read the contract carefully and ask any questions necessary.
Two months advanced rent payments must be paid prior to moving in, one month to the landlord, and one will be paid to the DPS (Deposit Protection Scheme) this is held against any damage or unpaid rent and, subject to this, will be repaid to you at the end of your tenancy.
Administration costs.
Additional contractual costs.
Our tenancy agreement contracts tenants to pay for a professional clean at the end of the tenancy. The cost of a professional clean will depend on the condition that the tenant leaves the property in and the size of the property.
If you are budgeting prior to your home search, do not forget to factor in your Tenancy Deposit, this is commonly the equivalent to the first month rent.
FEES:
Holding Deposit £250.00 inc VAT The holding deposit is strictly non-refundable
A holding deposit of £250.00 will be required to secure the property, this is deducted from your first month’s rent providing your application is successful. In the event of you deciding against renting the property or failing the reference checks all of the above monies are non-refundable.
Reference & Administration
£250.00 PLUS VAT for the first applicant
£100.00 PLUS VAT for every applicant over the age of 18 years, who will reside in the property.
£100.00 PLUS VAT for Each Guarantor (if required) References are processed by a third party company and are strictly non-refundable
Note: Prior to signing contracts and obtaining keys, we will require 1 months’ rent less the £250 holding deposit, this being your 1st months’ rent, and a deposit of 6 weeks rent to be lodged with the Deposit Protection Scheme. The deposit is refunded at the end of your tenancy as long as there are no rent arrears or deductions for damages.
Additional Services
Mortgage services Our in-house Mortgage Broker not only has access to some of the best possible rates available, they will talk you through step by step, the buying process from advice on products available to negotiating your offers on your new purchase. Our purpose is to find the most suitable mortgage for you based on your individual needs and circumstance, but also making sure you understand, in plain English the products being recommended. Our friendly mortgage broker can work independently and in connection from the Morgan Brookes Estate Agency Brand, guaranteeing to always have your best interests at heart.
Specialist in:
- Buy to Lets
- Let to Buys
- Remortgages
- Purchases
Please click here to book and appointment or for more information.
Our Lettings Policies
We are always available to answer any questions that you may have but, below is a short guide to our policies on lettings for tenants.
When renting a property, it is your responsibility to ensure that the property is kept and maintained to a reasonable standard. Your new landlord may wish to conduct regular checks on the property – if this is the case, it will be stated at the time of the issuing of the contract and dates and times will be agreed upon.
You will be required to pay for professional end-of-tenancy cleaning at the end of your tenancy – if necessary, we can recommend reliable cleaning contractors.
