A professional tenant assessment is necessary in renting or letting a property. This prevents any future issues for all parties involved in the agreement. This assessment includes the following:
- Written verification of employment or income
- Previous letting reference or home ownership check
- Residency confirmation
- Identity confirmation
- Affordability calculation
- Full credit history check:
- County Court Judgement (CCJ) search
- Bankruptcy and IVA data search
- Linked Address Checks
- Electoral Roll Presence
- Existing Credit Arrangements
A Landlords Rent Guarantee and Legal Protection can be offered for all prospective tenants who satisfy all that is listed above for extra peace of mind.
We use an approved tenancy protect landlords’ rights to possession, help control tenants’ activities and comply with standard mortgage lender requirements. Tenancy agreements are usually for initial term or twelve months, with a six months’ break-clause included.
While The Housing Act specifies different types of tenancy, it is most likely the tenancy for your property will be an Assured Shorthold Tenancy. Otherwise, a Common Law Tenancy is used when an Assured or Assured Shorthold Tenancy is inappropriate; for example, a letting to a company, a tenancy where the annual rent is more than £100,000, or at a proportionate level for a shorter tenancy, or where the landlord is a resident landlord.
There are various permitted payments that you can expect when you rent a property with Johals Homes. Our Terms and Conditions Application Form can help explain not only the next stages of your application but any permitted payments which are due before you sign your Tenancy Agreement and any that may become payable during and after the tenancy.
Below is a list of our current permitted payments which are also available at any time that you are interested in a property. You may ask any member of our team for a full breakdown of permitted payments that maybe payable before, during, and after a tenancy.
Holding Deposit (per tenancy) (one week’s rent). This is to reserve a property. Please note that this will be withheld if any relevant person (including any guarantor/s withdraw from the tenancy, fail to Right-To-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy) (Rent under £50,000 per year) (Five Weeks Rent). This covers damages or defaults on the part of the tenant during the tenancy and applies to Assured Shorthold Tenancies (AST).
Lost Key/s or other Security Devices. Tenants are liable to the actual cost of replacing any lost key/s or security devices. If the loss results in needing to change locks, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord, and any other persons requiring keys will be charged to the tenant. There will be a charge of £30 per hour (inc. VAT) if extra costs are incurred for the time taken replacing lost key/s or other security devices.
Unpaid Rent. Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please note that this will not be levied until the rent is more than 14 days in arrears.
Variation of Contract (Tenants Request) (£50 inc. VAT per replacement tenant or any reasonable costs incurred if higher). This is to cover the costs associated with taking landlords’ instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenants Request). Should the tenant wish end the contract early, they will be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.