What fees do I pay?
There is NO introductory fee but there is a £50 fee (students excempt) for inventories and for administration including the preparation of the tenancy agreement and taking up references. We may ask you if we can apply to a Credit Referencing Agency, LETsure, for a detailed financial and rental history check.
What money do I need to find at the beginning?
Upon having your offer on a property accepted you will be provided with a letter giving a summary of the terms of the tenancy. In addition to the administrative charges noted above, you will be asked to pay a month's rent in advance and a deposit equal to a month rent to secure the property and to be held as a deposit against damage. All monies due must be cleared funds in the Pailthorpe Property Services Client Account by your moving in date, therefore, please arrange payment in a suitable form (such as Building Society cheque/Bankers Draft/Cash) if there is no time for a personal/company cheque to clear.
What information will I need to supply?
The addresses of referees for the agent to write and confirm your ability to meet the rental commitment. These will normally include your bank or building society, employer, previous landlords, or for some, your solicitor and/or accountant.
What are my responsibilities?
These should be clearly set out in your tenancy agreement, which you should read carefully before you sign. If in doubt, please ask. If there is anything that is not understood, it is recommended they should take advice from either the Citizens Advice Bureau or from a solicitor. An Inventory will be prepared detailing the condition of the property. The tenant/s will be required to check and sign this on moving in. Tenants will be required to insure their own contents through our agency during the term of the tenancy. The Landlord's insurance will not cover accidental damage caused by the Tenants or the Tenant's own personal effects.
What is a tenancy agreement?
It is a legally binding document between you and the landlord, applicable only to you and the property you are renting, that states the amount of rent, the length of the tenancy, your rights and responsibilities. Tenants are advised to read the Tenancy Agreement thoroughly prior to signing. Your agreement will most probably be an Assured or an Assured Shorthold tenancy under the Housing Act 1988. For bona fide companies and/or rental values over £25000 a year, the agreement will be drawn up under contract law.
How long does it all take?
Normally, about ten working days to take up and confirm references, clear your cheque covering the first rent period and the deposit, arrange for inventories and the transfer of utility accounts into your name. You will not be in possession until all this has been done.
How long is a typical let?
We require it to be a minimum if six months and rarely write a tenancy agreement for longer than a year. But...
What happens if I want to stay on or leave early?
The terms for renewal will be agreed at the beginning and included in the tenancy agreement. If you’re likely to leave before the end of the original term agreed, you must negotiate break clauses to be written into the agreement. If not, you will remain responsible for the rent until the end of the term agreed, unless a new and satisfactory tenant can be found.
What else do I have to pay for?
The tenant usually pays the utility bills such as gas, electricity, water rates and telephone during the course of the tenancy, TV. licence, etc; and the Council Tax applicable to the property. Pailthorpe Property Services cannot undertake the transfer/connection of telephone services, and the tenant must bear this responsibility and cost.
What must I do at the end of a tenancy?
Ensure you fulfill your obligations stated in the tenancy agreement to leave the property in the condition it was in at the start, or deductions will be made from your deposit. These will include thorough cleaning and all linen, used or not, freshly laundered. If you have moved furniture, return it to where you found it at the time of the inventory.
How do I get my deposit back?
After an Inventory check and condition inspection, provided there are no missing items or damage, your deposit should be returned shortly after you leave the property. You cannot set your deposit against the last rent payment due.
Who has been holding my deposit?
From 6 April 2007, when a landlord or letting agent takes a deposit from a tenant, the deposit must be protected in a government-authorised tenancy deposit scheme. Pailthorpe Property Services Ltd will collect the deposit from the tenant and place it within a Custodial Deposit Scheme
What is a holding deposit? Do I get it back?
Holding Deposits - usually a nominal amount - can be required when you make an offer on a property. If, for any reason, you decide not to go ahead by an agreed date, the holding deposit or part of it will be retained against administrative costs already incurred. Otherwise it will be off-set against the first rent and full deposit payments. If the landlord decides not to proceed then the holding deposit will be returned. Paying a holding deposit in no way legally obliges either party to enter into the tenancy.