To secure a property with Weald Property Management, a holding deposit equivalent to 1 weeks rent pro rata at your chosen property is payable by bank transfer. The holding deposit will contribute towards the owed rental balance prior to the agreed tenancy start date. The holding deposit 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).If the Landlord decides not to proceed with the application before the tenancy agreement is signed we will refund the holding deposit.
Each member of the household over 18 will need to complete the Weald Property Management application form. The tenant(s), along with any guarantors (where required) will be sent the full referencing application to be completed online. We use an independent third-party referencing company called Rent 4 Sure https://rent4sure.co.uk/home
Referencing will cover a credit check against the individuals public records, an Anti-Money Laundering check, right to rent checks, verification of employment and salary details, previous landlord reference and reporting the results of all those checks to the prospective landlord to approve whether or not the application is acceptable.
For your own guidance you should be aware that to meet the required affordability, your salary/earnings must be at 2.5 times the annual rent.
The Right to Rent checks are a mandatory requirement for all applicants under the Immigration Act 2016. The check requires that each potential occupant of the property presents their original immigration documents (i.e. UK/ EU passport or Biometric Residence Permit) in person prior to a tenancy being signed.
In some instances, the need for a Guarantor may not become apparent until the tenant referencing, (including for any joint tenants) has been completed. They will need to supply photographic identity and a utility bill dated within the last 3 months. The guarantor will also need to supply the required information to our third-party referencing provider for a credit check and verification of income/affordability so please ensure that they are happy to do this before the application is submitted. The guarantor will need to sign a Deed of Guarantee as part of the Tenancy Agreement. This document details their obligations as a Guarantor, so additional time might be required to organise this.
This person needs to prove income of 3 times the annual rent and to have a clear credit record.
If you have County Court Judgements (CCJ), IVAs or have been declared bankrupt it may prove impossible to grant you a tenancy unless satisfactory evidence of the clearance of debt is produced. If you have any adverse credit or defaults registered against you but do not declare them on your application form, you will be automatically disqualified from proceeding with the tenancy so you are therefore advised in all circumstances of known or 2 suspected bad credit to discuss the situation fully at the outset so we may properly advise you of how your application may proceed before you commit to paying a holding deposit.
Please note that in line with General Data Protection regulations 2018 (GDPR) you are required to obtain permission from referees, guarantors and Next of Kin in order for us, or the referencing company, to contact them. Please ensure that all referees, guarantors and Next of Kin that you have nominated have been advised that they will be contacted by us in relation to the tenancy or the referencing company.
A security deposit equivalent to 5 weeks rent (or 6 weeks if the annual rent is £50,000 or more) is due by bank transfer 2 working days before the start of the tenancy to cover damages or defaults on the part of the tenant during the tenancy. It is calculated dividing the annual rent by 52 then multiplying it by 5 then rounded down to the nearest £1 for simplicity. This deposit may be refundable in full at the end of your tenancy providing all of the terms of tenancy have been met and the property is returned in a satisfactory condition. Deposits under Management with Weald Property Management will be held and registered with The Tenancy Deposit Scheme- the negotiator will advise of the level of service the landlord has chosen with Weald Property Management.
Interest at 3% above the Bank of England Base Rate from the Rent Due Date until the date rent is paid will be charged 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.
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 £15.00 per hour (inc.VAT) for the time taken replacing lost key(s) or other security device(s).
To cover the costs associated with taking landlord’s instructions as well as preparation and execution of new legal documents there will be a charge of £12.00 (inc. VAT) per agreed variation.
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 there will be a charge of £50 (inc.VAT) per replacement tenant or any reasonable costs incurred if higher.
In the event the tenant wishes to break a fixed contract they have entered into, we will enter into negotiations with the landlord to enquire if they would consent to an early release. If the landlord agrees to an early termination, the tenant will be responsible for all the landlord’s costs associated with 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. A breakdown of all costs will be provided.
At the start of the tenancy, where applicable, gas and electricity will be provided by an energy supplier, the details of this supplier information will be communicated to the tenants at the start of the tenancy. By supplying your details to us, and to our third-party referencing provider Rent for Sure, you give consent for us to inform the current energy provider. Tenants are not obliged to engage with any one energy supplier and are free to choose any energy supplier option available to them as long as the terms of tenancy are met with regards to the utility obligations. The incumbent water supplier and relevant district council will also contact the tenant in order to provide further information about its services and products and conclude an agreement with the tenant for those services and products.