Finding your perfect home is a hugely important decision, and knowing what your priorities are, could make things a little easier.
Things to seriously consider when looking for a home;
- Suitable Area
- How many bedrooms / bathrooms are required
- Down-stairs living space
- Your Budget
A general guide to referencing criteria:
- Three years address history
- Employment details
- Confirmation of earnings
- If self-employed evidence of the last three years’ account details
- Current landlord details
- Your bank account details
Be aware that if you fail any of the necessary checks, you may not be considered for the property. Guarantor referencing is also available.
Tenant Administration fee’s
Application to rent a property
All persons aged 18 years and over, who will occupy the property, must be named on the Tenancy Agreement.
Each Tenant will be assessed for their share of the total rent.
Where a joint tenant is not contributing to the rent, identity and credit checks are still required.
Holding Deposit (per tenancy)
One week’s rent. This is to reserve a property.
Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a 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.
Security Deposit (per tenancy. Rent of £50,000 or over per year)
Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
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: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s).
If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant.
If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request)
£50 (inc. VAT) per agreed variation.
To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher.
To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall 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.
We must see original documentation in order to comply with Anti-money laundering regulations.
We will advise you on which documents are suitable for proof of identity, residency, and current address.
These documents are also required for guarantors.
Kingtons will also need to meet the guarantor in person. The guarantor must be a resident in the UK and be a UK homeowner.
If you have any adverse credit history or are concerned that your income maybe considered insufficient, please notify us at the outset, prior to reserving a property, as refunds cannot be issued in these circumstances once referencing has started.