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Detailed Tenant's Guide
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Choose an option:
 Where Do I Start?
How
can I arrange a viewing?
The
holding deposit
What
minimum referencing criteria need to be met?
How
much does it all cost?
Acceptable
methods of payment
Signing
the Contract
Tenancy Deposit
Property
Contents
Keys
Insurance
Non resident landlord - Tenant's Obligations
Register your property requirements
with movingspace.com using
this
form
or telephone our offices. Allow as much lead in time as possible,
particularly if you need to move in a busy season, like September when the
educational year begins. Registration is free and we will keep you informed of
all the relevant new properties, which become available in your price
range.
Our rental properties are usually
advertised with a weekly rent although in practice rent is paid monthly in
advance. To calculate your monthly rent from weekly price, multiply by 52 and
divide by 12.
The usual letting term is 12 months, however many landlords will consider longer fixed terms which can guarantee you undisturbed occupation of your property of up to 3 years.
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You will normally be asked to meet one of our consultants at our offices and we will accompany you to see the property of your choice. Properties can go under offer within hours of coming to market, so it is important to bring with you any joint tenants or decision-makers that may need to see the property with you. It is also advisable to have a debit card to hand just in case you see that ideal home and want to leave a holding deposit (usually £500).
Send a request on-line using the
viewing request form
or
call 020 7793 8111
or email
your contact at Movingspace with a viewing request. Allow as much notice as
possible if you want an evening or weekend appointment.
If you are not already registered as a
buyer with the agency we will need to take your details.
Registration
is free
and essential if you want to be kept up to date with the hot new
instructions!
Generally a representative of the
company will accompany all buyers on viewings. For personal security reasons and
to allow for unexpected delays on either part, the meeting place will usually be
at the offices of movingspace.com not the property.
We are conveniently
located next to
Vauxhall Bridge
, Vauxhall Tube and British Rail stations. Our offices are in
Kennington Lane, opposite Spring Park.
See
how
to find us
page.
Free Parking bays
(20mins only no return in 40mins) are located on
a red route close to the front of the shop for use between 10am and 4pm subject
to availability. Restrictions apply Mon - Sat between 7am - 7pm.
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The deposit can be paid by debit card, bankers draft or building society cheque payable to Movingspace. This deposit is £500 and is refundable if on our part or the landlord's part a tenancy cannot be provided.
Payment of the deposit does not imply a tenancy; it simply allows us to incur expenditure and process your application with confidence. If you (or your guarantor where required) decide not to proceed with the tenancy, alter the original terms of your offer, falsify information, or fail to supply further information necessary to allow us to complete the referencing process, the deposit is lost.
If the property you intend to rent is either of a higher than average weekly rent, and/or your intended move in date is more than 2 weeks away, the owner may request either a further deposit in addition to the initial £500 you pay and/or for contracts to be signed early.
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The Landlord will want to be sure that you are able to afford your rental payments, are in permanent employment and that you have a good credit history (or an acceptable guarantor where necessary). Please use the following ideal criteria list as a guide only. If you fall outside the perimeters below, please call us to discuss your personal circumstances and we will advise you as to your options and what additional assurances/guarantees your landlord may require.
To combat identity fraud all Applicants and Guarantors are required to provide valid forms of Photo Identification.
The following documents are accepted: Passport; Driver’s License; National Identity Card; UK Armed Forces Identity Card or NUS Identity Card. All other forms of I.D. are not acceptable.
Each Applicant Should
:
- Be in full time continuous employment for not less than 6
months or in the case of graduates in new employment, be able to provide a
formal contract of employment for our files. If work is of a temporary
nature through a recognized agency proof of 12 months continuous earnings
must be provided
- Have a good credit history
- Have good references from the
previous landlord/managing agent, if applicable
- Earn a gross annual salary which
equates to at least 2.5 times the annual rental commitment
- Foreign national must be able to prove continuity of
employment either in the UK or abroad and provide a contract of employment
for their current post in the UK equal to the tenancy term
- For Company applications: All Companies must be Limited and
registered at Companies House with annual returns and accounts up to date.
New Companies with no filed information will require a Directors Guarantee.
Non Limited businesses are treated as Individual applications.
An Applicant will need a guarantor
when:
- He or she is a student
- He or she is unemployed or in
receipt of Housing Benefit
- He or she has not been working
continuously in full time employment for 6 months
- When the individual rental
commitment is more than 50% of the annual gross income
- Has recently arrived from overseas
for new employment. Each case will be treated individually and contracts of
employment will be required
- Has an adverse credit history which
has been declared
An applicant will be declined if
he/she
:
- Has any undisclosed adverse credit
history (County Court Judgments, Individual Voluntary Arrangements and
bankruptcies)
- Has CCJ's totaling an excessive
amount, disclosed or otherwise
- He or she has an adverse reference
from the Landlord, Managing Agent or Employer
Each guarantor must
be:
- A property owner in the UK - if not
then we recommend that they should have a monthly gross income of 3 times
their monthly rental commitment
- Have a clean credit history -
subject to appeal
- Be in employment or in receipt of
pensions
All applicants and guarantors will be
asked to provide at least 4 forms of identity showing their current/past
addresses
Each applicant and guarantor will need
to fully complete an application form.
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Once you have settled on a property you will be asked for a property holding deposit of £500 (see deposits above).
Each applicant / guarantor will complete an application form. There is an administration/-referencing fee, which is equal to one week’s rent, once the application has been submitted (application fees are deducted from deposit).
For applicants that are in full time continuous employment that have been resident in the United Kingdom for a period of less than six months, an additional referencing fee of £120.00 will apply. Should an applicant be employed in a recognised profession, the additional referencing fee will be reduced to £50.00. The deposit is refundable if on our part or the Landlord's part a tenancy cannot be provided. If you decide not to proceed with the tenancy, or fail to supply further information necessary to allow us to complete the referencing process once it has started, the deposit is lost.
Normally we require all application forms to be completed and returned within 2 working days of receipt, a delay in returning these forms may affect your chances of securing the property. If forms are not returned after 4 working days the property may be put back onto the market and you deposit may be lost.
Once your references have been approved you will be required to pay the balance of your move in monies and sign contracts the day your tenancy commences, before the Landlord will allow you to move into the property.
In cases where there is a lengthy period between putting in your offer and the intended moving date, or where there is possibly other interest in the property, some landlords may require you to sign contracts early and pay at least your 5 week security deposit in advance. This is to both party’s benefit, as once this is done you can be assured the property cannot be offered to someone else and similarly the owner is assured you are committed to move in.
These monies will usually be as
follows:
For example:
Weekly rent of £200.00
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One months rent @ £866.67 |
£866.67
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5 weeks deposit @ £200.00 |
£1,000.00
|
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Administration fee (one week) |
£200.00
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TOTAL |
£2,066.67
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Less holding deposit already paid |
£500.00
|
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Balance due |
£1,566.67
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All rent is paid by standing order from one tenants account, to the Landlord
account or to the Movingspace clients' account where we are the managing
agents, to be forwarded to the Landlord.
You will need to check that your
bank or building society account has this facility.
Deposits and move in monies (see above) can be paid at our offices using
most debit cards and some credit cards (e.g. Delta, switch, Visa, and Master
Card).
Credit cards attract a handling charge of 2%. Your credit limit must
be allowed for.
Otherwise we can accept bankers' drafts or building society cheques made
payable to Movingspace. You can also pay by arranging a bank to bank
transfer of the funds at least three days before you are due to move in.
Please notify us with your chosen method of payment.
Unfortunately cash or personal cheques are not an acceptable form of
payment.
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Before you are able to move in, the
contract
must
be signed by
all
the applicants (and guarantors
where necessary). For convenience signing can be arranged individually at our
offices before move in day.
Thoroughly check your contract before
signing. If you have agreed a break clause, make sure it is in the agreement
before signing. If when you agreed your letting, the Landlord promised to make
certain additions to the furnishings or change items of decoration to suit your
needs, make sure they are listed on an attached Rider Agreement to the Tenancy
Agreement and signed. This qualification does not apply to items, which are
required by statute.
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Tenancy Deposit
Your deposit on taking the property is held in accordance with your tenancy agreement. It is held either by the Landlord or held as ‘Stakeholder’ by Movingspace under the protection of The Tenancy Deposit Scheme for Regulated Agents (TDSRA). Please check your tenancy agreement to see where your deposit is being held.
The Tenancy Deposit Scheme for Regulated Agents (TDSRA).
Movingspace have joined the Tenancy Deposit Scheme for Regulated Agents. It is supported by the Association of Residential Letting Agents and the Royal Institution of Chartered Surveyors, shortly to be joined by the National Association of Estate Agents.
The TDRSA has been introduced to ensure that tenancy deposits are securely held and that disputes about their return are resolved quickly, cheaply and fairly. It is based on the pilot Tenancy Deposit Scheme run by Independent Housing Ombudsman Limited on behalf of the Office of the Deputy Prime Minister from 2000 – 2003.
Deposits held under this scheme will be protected during the tenancy so they are available to be returned to the tenants if they have met the terms of the tenancy agreement. Where there is no dispute at the end of the tenancy, the deposit will be returned promptly. Where there is a dispute about the allocation of the deposit it will be dealt with fairly and quickly by the Independent Case Examiner (ICE).
At the expiry of the Tenancy Agreement, the Landlord has the right to deduct monies for the non-performance of the Tenant’s obligations and to pay and compensate himself for the tenant’s breach of any of those obligations. These include such things as arrears of rent, cleaning of the property not completed in accordance with the contract, breakages etc.
If, after 10 working days following notification of a dispute and reasonable attempts in that time to resolve any differences of opinion, there remains an unresolved dispute between the landlord and the tenant over the allocation of the deposit it will be submitted to the Independent Case Examiner (ICE) of the TDSRA for expert, impartial, third party adjudication. All parties agree to co-operate with his investigation.
Where the amount of dispute is over £5,000.00 the landlord and the tenant agree to submit to formal arbitration through engagement of an arbitrator appointed by the ICE although, with the written agreement of both parties, the ICE may at his discretion accept the dispute for informal adjudication. The appointment of an arbitrator will incur an administration fee of £235.00 shared equally between the landlord and the tenant; the liability for any subsequent costs will be dependent upon Award made by the arbitrator.
If your tenancy is included in the Tenancy Deposit Scheme for Regulated Agents (TDSRA). The landlord and the tenant must endeavour to notify the Member Firm that there is a dispute over the deposit, as soon as possible and within 28 days of the lawful end of the tenancy and the vacation of the property (it is strongly recommended that such notice be given in writing). The ICE reserves the right to decline to consider disputes, which have arisen outside this timescale
The statutory rights of either the landlord or the tenant to take legal action against the other remain unaffected.
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In the majority of cases the properties
will not include bedding, linen, crockery, cutlery, etc. If during your initial
visit to your intended property the previous tenant is still in occupation, it
is important to establish which items of furniture etc belong to them and which
belong to the Landlord. Items belonging to a previous tenant are not included in
the letting.
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Keys
Generally when moving into a property the number of sets of keys you receive will be determined not on the number of tenants moving in but on the number of bedrooms the property has. Due to the cost and inconvenience of cutting keys and/or buying additional electronic security keys, it will be your responsibility to incur the cost of this and arrange for the supply of the same. Obviously if the owner does have spare sets we will endeavour to get him to pass these onto you. Please note that some keys due to their nature or the nature of where they are situated may need to be ordered. Please ask the negotiator dealing with you on how to obtain extra copies.
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Protect your Deposit and your own Contents
We at Movingspace realise how difficult it can be for tenants to arrange the right insurance cover for their contents, personal possessions and liabilities towards the landlord’s contents, fixtures, fittings and building. Often such cover is either very restrictive or provides more cover than tenants normally require and premiums can be prohibitive.
As tenant your personal possessions can be at risk from fire, storm, water-damage and possibly from theft during the time in your rented property. You may suffer loss or accidental damage to yours and your landlord’s belongings whilst at home.
Accidents do happen and as your tenancy agreement clearly states, you are legally responsible for them. Unfortunately they can quite often cost hundreds of pounds.
Protect yourself now with Homelet Tenants Contents Insurance, a policy specifically designed for tenants at an affordable price. Have peace of mind- HomeLet can deal with these accidents for you – Protecting your deposit!
MOVINGSPACE nor the landlord can accept any liability if you, the tenant, fail to obtain adequate covers.
FOR AN INSTANT QUOTE AND COVER CALL
0845 117 6000 quoting ref: 1404189
So why take the risk?
Protect your Deposit and Contents today!
Homelet
is atrading name of Hanover Park Commercial Ltd and is authorised and regulated by the Financial Services Authority
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Non-resident landlord - Tenant's Obligation
Non-resident landlords are persons who have UK rental income and whose usual place of abode is outside the UK.
The Inland Revenue operate a non-resident landlord (NRL) scheme which potentially puts the tax liability from the income produced by the letting of a property, on the tenant or the managing letting agent. Broadly, if you pay rent directly to a landlord whose usual place of abode is outside the UK, in the absence of an exemption certificate received directly from the Inland Revenue, the tenant may be responsible for deducting tax from the rental payments and forwarding this to the Revenue on a quarterly basis or risk being liable for the tax.
If you pay rent to a letting agent, or your annual rental payment is £5,200 or less, or your Landlord lives in the UK you are unlikely to have to operate the non-resident landlord scheme.
If you are in any doubt about your potential obligations, you should contact the Inland Revenue Helpline on 0151 472 6208/9
Or visit their website http://www.inlandrevenue.gov.uk/cnr/nr_landlords.htm
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