THIS GUIDE IS AN OUTLINE OF OUR TERMS OF BUSINESS AND OF YOUR RESPONSIBILITIES AS TENANTS. ALL PROSPECTIVE TENANTS WHO ARE SHARING ARE CONSIDERED TO BE "JOINT AND SEVERAL"- THIS MEANS THAT IF YOU ARE SHARING A PROPERTY WITH OTHER PEOPLE LIABILITY FOR ALL ASPECTS OF THE TENANCY AGREEMENT ARE THE RESPONSIBILITY OF ALL THE TENANTS. I.E. IF THREE PEOPLE ARE SHARING A FLAT AND ONE PERSON MOVES OUT IT IS THE RESPONSIBILITY OF THE REMAINING TENANTS TO PAY THE RENT IN FULL.
In the event that you make an offer on a property, which is acceptable to the Landlord we would require a "holding deposit" of two week's rent (this will be set against your dilapidation's deposit when you take up your Tenancy). This is a non refundable deposit and will secure the property for you until an agreed date. Should you not proceed with the Tenancy for any reason or do not provide acceptable references your holding deposit will not be returned to you but will be passed onto the Landlord to cover him for loss of rent while the property was being held for you. However should the Landlord decline your offer for any reason, your deposit will be returned to you.
Upon giving us a holding deposit we would require details of your current or previous Landlord and employers if you are self employed we would require a trade reference and a reference from your solicitor or accountant. In addition to the above we would also require you to fill in and sign a form giving us your bank details so as to allow us to obtain a bank reference on you (some high street banks make a nominal charge for this the cost of which will be your responsibility), should you be entering into a Tenancy with other people we would need the same information from all of you. Alternatively you can provide us with all the references providing that they are no more than a month old and that we can verify them.
Rent is worked out calendar monthly, this figure is obtained by taking the weekly rental, multiplying it by 52 (weeks of the year) and then deviding the total figure by 12 months of the year). i.e £200 Per Week x 52 = £10.400 ÷ 12 = £866.67 per calendar month.
Upon signing a Tenancy agreement we would require a deposit of one calendar months rent or in some cases six weeks rent (the figure left as a holding deposit will be included within this figure), this deposit must be paid in cash, bankers draft or by cheque at least one week prior to the commencement of the Tenancy. This deposit will be held by us or by the Landlord throughout your Tenancy and any subsequent renewals and is subject to the terms set out in your Tenancy Agreement. Please note this deposit CANNOT be used as rent and will be returned to you when your tenancy expires and the property has been checked for damage and missing items.
The first months rent will be required upon signing a Tenancy Agreement, and again must be paid in full, in cleared funds i.e. cash, bankers draft or by cheque at least one week prior to the commencement of the Tenancy. After the first month, rent must be paid on or before the due date (as per the tenancy agreement) by cheque (allowing at least five working days for clearance), cash, standing order or bankers draft payable to us or the landlord (as per Tenancy agreement).
A tenancy must be for a minimum period of six months.
The Tenancy Agreement is a contract between the Landlord and Tenant only. We are not authorised to change the Agreement in any way during your Tenancy. Any changes must be agreed with both parties in writing before they are legally binding.
One month prior to the end of your Tenancy, we will contact you to enquire as to whether you want to renew your Agreement or confirm the time and date that you will be vacating. If you do renew, the rent will usually increase in line with the R.P.I. (retail price index) this can be found in the Financial Times and the Evening Standard.
At the end of your Tenancy you must provide us with a forwarding address. Once all bills have been paid an account and the balance of your deposit will be sent to you by either "in London Properties" or the Landlord (whichever applicable). Please note that the deposit CANNOT be returned in cash!
It is your responsibility to insure your own contents. If you require any assistance with your contents insurance , we can provide you with details of a reliable and inexpensive insurance broker.
It is your responsibility to make sure that all the utilities and Council Tax which you are responsible for are transferred into your name(s).
IN LONDON PROPERTIES CANNOT ACCEPT ANY RESPONSIBILITY FOR ANY REPRESENTATIONS, CONDITIONS AND WARRANTIES GIVEN BY THE LANDLORD WITH REGARD TO THE PROPERTY.
IF YOU REQUIRE CLARIFICATION OF ANY POINTS PLEASE DO NOT HESITATE TO CONTACT US.
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