A Guide to Renting
A Tenant’s Guide to Lettings
I have selected a property, what will you need from me?
Once you have selected a Property a HOLDING DEPOSIT of one week’s rent will be required upon signing of Terms and Conditions.
You must provide accurate and up to date details in order for you to be correctly referenced and Right to Rent checked. Please ensure that you do not leave out any details as this will affect your application.
Once the holding deposit has been paid, we will work towards a 15 calendar day Deadline Agreement Date, by which, if you have passed referencing and Right to Rent, the AST must be signed by all parties.
How does the referencing process work?
An application form will be sent to you via email for you to fill out. Your application is then submitted electronically to our credit referencing agency.
When filling out the form, please ensure that you have telephone numbers, fax numbers and email addresses of referees as this will help speed up the process. As soon as we receive a reply from the credit referencing agency we will let you know the result and your confirmation document pack will be sent electronically.
Credit checking normally takes 2-3 days but may take longer if the agency has difficulty in contacting people on the form. You would be advised to let people know that they may be contacted for a reference.
Please be advised that your basic annual income needs to be at least 2.5 times the annual rent in order to comply with the referencing criteria and if a guarantor is required they will need to earn at least 3 times the annual rent in order to comply.
Please discuss your situation with your Lettings Consultant if you have any queries.
Who do I call for a progress report on my application?
For a progress report on your application or for any queries, please contact our coordinator on +44 020 7284 9990 or call our main office +44 020 7284 1222.
How much is the holding fee and how much is the administration fee?
The holding fee is the equivalent holding deposit no more than one weeks rent
If Guarantor references are required the process will be exactly the same as for tenants.
Company Referencing £300.00 including VAT
What do I need to pay pre- Check in?
Tenant Deposit – the equivalent of 5 or 6 weeks rent. The Tenancy Deposit will be held in accordance with the Tenancy Deposit Protection Scheme.
First month’s rent.
A personal cheque will need to be received by us 10 working days in advance.
Cheques should be made payable to Oliver’s Residential Limited
Cleared funds are required by the move in date before keys are handed over to the property. We would recommend doing this three days prior to your move in date.
When can I sign the Tenancy Agreement?
This is to be signed in line with the Deadline Agreement Date and an appointment can be made at our office between 9.00 am and 6.00 pm.
The agreement will be emailed to each tenant at least a week prior to the start of the tenancy providing we have enough time between the offer being accepted and the start date. PLEASE NOTE – Tenancy agreements will only be drawn up after receiving all reference reports from the referencing company.
When can I collect the keys?
We must have in our possession cleared funds, a signed Tenancy Agreement, completed references, photographic ID, proof of residence, and details of a completed Standing Order Mandate before we can hand keys over to you.
What about insurance?
There is no legal requirement to insure against any accidental damage to the property, however if you Oliver’s can offer specialist contents insurance cover for Tenants which include third party cover for the Landlord’s goods through oliversfinance.com. If you would like a quotation for insurance at any time, please call: Paul Smulovitch- 020 8922 9213; 07977 519 591
What about the Cleaning of the property?
Oliver’s will the cleaning for Managed properties only. In the case of a non – managed property it is the landlord’s responsibility to ensure all works and cleaning are completed before your move in date. Oliver’s will only communicate all required works/cleaning to the landlord.
What about utilities, council tax, communication services and the television licence?
If we are carrying out the inventory check in, we will endeavour to notify the relevant gas, electricity, water and Council Tax companies.
If your Landlord checks you in, you may have to change the utilities yourself.
You will be responsible for paying all utilities, communication services, the duration of the Tenancy unless otherwise stated in your Tenancy Agreement.
If you are moving into a Property that has not had a telephone line or television aerial connected previously or either it has been vacant for three months or the Property does not have terrestrial television reception, then it will be your responsibility to pay the provider’s connection fee and arrange for the provision of these services.
What happens to my Tenancy Deposit?
Your Tenancy Deposit will be held as Stakeholder in accordance with the Tenancy Deposit Protection Scheme, which means that it can be released as soon as both parties agree.
How do I pay future rent?
Your rent in cleared funds is payable in advance and should reach your landlord’s account or our account on the rent due date as specified in your Tenancy Agreement.
Rent is paid by Standing Order Mandate or Bank Transfer. Standing Orders are your instructions to your bank to pay your landlord or Oliver’s Residential Limited. They cannot be cancelled or changed by your landlord or Oliver’s Residential Limited once they are set up.
Late payment of rent. Failure to make a payment of rent in full only before the end of 14 calendar days beginning with date the rent is due as written in the tenancy agreement.
A late rent payment can be subject to charge 3% above Bank of England base rate in interest on the late payment of rent for each day that the payment is outstanding.
Late payment will not be charged unless the rent has been outstanding for 14 calendar days or more since the full rent was due, as set out in the tenancy agreement, and has still not been paid.
What happens when my Tenancy is renewed/extended or tenants replaced?
Should your Tenancy be renewed/extended any renewal will be under the same terms unless any additional terms are mutually agreed.
What about Data Protection?
Information supplied will be held by us in line General Data Protection Act 1998. Please see our Data Protection Policies.
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