Your Tenancy Application Explained
Holding Deposit* – 1 weeks rent
*This may be a non-refundable payment
Once you have decided to apply for a property you will be asked for a holding deposit (by card or BACs). This amount will be calculated as a maximum of 1 weeks rent for the property you are applying for.
On most occasions this ensures the property is reserved and taken off the market for up to 10 days (provided we receive this with your completed application form and necessary documents)
This amount will be deducted from other monies once your application has been successfully completed. At the time you pay the holding deposit you will be told whether you are first, second or third in line for the property.
Should your application be unsuccessful your holding deposit will be fully refunded but should it be rejected because we have been given false or misleading personal information Northwood will retain this deposit to cover administration and search costs. This will also apply if you decide not to proceed with your application, for whatever reason.
Security Deposit – 5 weeks’ rent
Calculated as a maximum of 5 weeks’ rent. This is to cover any damages, dilapidations and defaults on the part of the tenant during the tenancy. This deposit will be returned to you once you have vacated the property (in good condition, as described in your tenancy agreement, and with all rental payments up-to-date). The security deposit must be paid within 5 working days of acceptance or two working days before check in, whichever is soonest.
Evidence of identity & address
Please provide:-
- Current passport or photo-style driving licence
- Copies of your last 3 bank statements (account salary is paid to)
- Copies of your last 3 (months) payslips
- A copy of a recent utility, council tax or credit card bill
European Union Citizen (additional paperwork required)
- Proof of address for the country of your origin
Non European Union Citizen (additional paperwork required)
- A copy of your Visa/Work Permit
References & Credit Check
References will be obtained from your employer. If in receipt of Housing Benefit a Pre-Tenancy Determination will be required. For self-employed tenants we will require sight of your last year’s accounts or details of your Auditor/Accountant. References will also be requested from previous letting agents, if appropriate. There may be a charge by the previous agent which should be met by you.
Guarantor
A guarantor may be required if you are unemployed, in receipt of Housing Benefit, have not been in continuous full-time employment for at least 6 months, have recently arrived from overseas, have rental commitment of more than 40% of your annual gross income or you have an adverse credit history that you have declared on the application form. Each case will, however, be treated on an individual basis. A guarantor will also need to provide the evidence detailed above.
Inspections
Property inspections are carried out on a periodic basis, but are normally conducted every 3-4 months. We will send you a letter about 2-3 weeks before with a date. Unfortunately, we cannot give a time slot as we do the inspections in blocks but we can normally give you a better time in the morning on the inspection day, if you wish. We explain in the letter that if you cannot attend the appointment, we can access the property with our set of keys.
Insurance
You will be required to take out insurance for contents and accidental damage to the landlord’s property. You are advised to take a special tenants’ insurance which will include your contents. We can introduce you to Northwood Insurance who offer a policy for Northwood tenants and will be happy to request an indicative quote for you.
Utilities and telephone
As part of the check-in process we will advise the utility providers (gas, electric and water) and the local authority for council tax. We regret that we are not authorised to notify telecoms providers on your behalf.
Check-In Date
We usually work to a target move-in date initially and this will be confirmed as soon as possible. Please note that, until we can confirm, this is a target date only. We often have to arrange pre-tenancy cleans, repairs, gas safety checks, inventories, photos etc. Other variable factors will include current landlords’ and tenants move dates and receiving your references.
Late payment of rent
Please be advised that any late payment of rent will be charged at 3% above Bank of England base rate.
Lost keys or other Security Devices
Tenants are liable for the actual cost of replacing any lost key(s) or any 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 and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £10.00 (incl VAT) per hour.
Change of Sharer (At tenants request and if agreed by landlord)
£50 (inc VAT) per replacement tenancy or any reasonable costs incurred if higher:
To cover the costs associated with amending the tenancy agreement to reflect the change.
Variation of Contract (At Tenant’s Request and if agreed by Landlord)
£50 (inc VAT) to cover agents costs in contacting landlord, taking landlord instructions & preparations of new contracts (if required) & system adjustments.
Early release from tenancy (At Tenant’s Request and if agreed by Landlord)
If authorisation is given allowing you to vacate the premises before the expiration of any tenancy agreement, you may be liable for the following:
i) Rent up to the date on which the premises are re-let or the expiration of the tenancy agreement, whichever is the sooner
ii) Council tax, water rates, gas and electricity charges along with any other bills which are your responsibility under the tenancy agreement up to the date the premises are re-let, or the expiration of the tenancy agreement, whichever is the sooner
iii) There will be a charge, if appropriate, for the landlord’s costs for re letting the property.
iv) These costs will be no more than the maximum amount of rent outstanding
Other permitted payments
Any other permitted payments not included above, for breaches of contract or under the relevant legislation including contractual damages.
Please note: Should you report a maintenance issue with the property and a contractor is called out and their investigations find that the fault has been caused by the tenant/s or an associate of the tenant/s, or alternatively no fault exists, any cost for this call out will be the responsibility of the tenant/s. Northwood reserve the right to deduct any unpaid monies from the deposit.
Tenant Protection
Northwood Basingstoke Limited is a member of Propertymark which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on our website or by contacting us directly. To view our certificate, please see below.
APPLICATION GUIDANCE NOTES FOR TENANTS AND GUARANTORS
PLEASE NOTE THAT FAILURE TO FILL OUT THE APPLICATION FORM IN FULL WILL LEAD TO DELAYS AND IN SOME CASES REJECTION
• Address History – It is essential that you give details of where you have resided over the past three years. All addresses must be provided in full with postcodes.
• Landlord/Letting Agent – You must provide details together with a name and contact telephone number for all properties where you have resided over the past three years if applicable.
• Bank/Building Society Details – These must be given in full for the purposes of the Credit Enquiry which we undertake.
• Employment Details – This should be the employer which is applicable to the duration of the tenancy. All applicants need to provide us with the name of their employer, a contact name and at least a daytime contact telephone number.
• Self Employed – You must preferably provide us with details of your Accountant. We will accept your latest Tax Return or Six months bank statements as an alternative. However these must be submitted with the Application.
• Signature – You must personally sign and date the form. Failure to do so will result in your Application being rejected.
* Target check in date is subject to contract and vacant possession of the property
