The Application Process
Congratulations you've found your new home!
Welcome to the YN family.
Below, we will take you through everything you need to know about our application process when signing for your new home. Once you get started, you will have 2 weeks to get everything in order and pay your full deposit to ensure your home is secured.
To secure your home, you will be asked to pay a holding fee (£50 per person) which goes towards the property deposit and can be made by phone to secure your new home super fast. By paying the holding fee, you are showing your intention to rent the property and we will subsequently remove the property from market.
The Application Form
The application form requests your contact details, details regarding your employment or university course and other important details such as your date of birth, national insurance number and property details. This form will essentially include everything we need to process your application on the property. You will receive an email from us which will include a link to our application form, which you can also find here. It is important you fill this in the same day you pay your holding fee.
References and/or Guarantors
I am employed full time on a permanent contract…..
If you are employed in a full time permanent contract, we may conduct references on you. Our referencing company will contact your employer and your current landlord to obtain references. They will also do a full credit check. You will be emailed the form to fill in online. Our references are completed by a 3rd party company called HomeLet.
If you do not pass your references, your application may be declined or you may be asked to provide a guarantor depending on the circumstance of your reference.
I am a student or new to employment…..
If you are a student or new into employment, you will be asked to provide a guarantor as part of the tenancy. Your guarantor will need to be a UK home owner and must be based in the UK.
Your guarantor will be emailed a form called a Contractual Guarantee or a Deed of Guarantor. Your guarantor will be asked to sign the form either online via e-signing or a printed copy. Instructions will be detailed on the email when sent across. They will also be asked to send the following documents to support the form that they sign (these can be sent via email);
- Driving license or passport
- A utility bill dated within the last three months for example; gas, electric, water or council tax bill. A screenshot of a statement can be accepted if you are paperless.
- Confirmation of home ownership for example; title deeds, home insurance document or mortgage statement.
Your tenancy agreement will be emailed to you the same day you pay the holding fee. You will be able to read through this and sign this online. All tenancy agreements must be signed within 24 hours of receipt.
Standing Order or Direct Debit Form (paying your rent)
You will be required to set up either a direct debit or standing order for the rent payments at your property and show us confirmation that you have done this. Standing orders can be set up using your online banking and then you will then just need to email us a screenshot showing the details of your standing order. Some of our landlords take rental payments by direct debit. If this is the case, you will be emailed this to sign and return.
Right to Rent checks
It is a legal requirement for us to conduct the Right To Rent Check which is where we check that you are entitled to rent a property in the UK. We will need to see you with your original passport (we can accept both in and out of date passports) and your visa (if applicable) in our office.
If you do not have a passport, we can also review other documentation as part of the check such as your birth certificate and driving license or a letter from University if you are a student accompanied by your driving license. We cannot accept scans of your documents, and must see you and the original document in our office as part of the Right to Rent check process.
NOTE: Due to the Covid-19 Pandemic, the government has made a temporary change to the law, allowing letting agents to view and screenshot a copy of your ID via video. A member of our team will arrange this call at a time suitable for you.
Deposits for Students
1 & 2 bedroom equivalent to 1 weeks rent*
3+ Bedrooms £300* per person
Houseshares £300* per person
Deposits for Professionals
Studios & 1+ Bedroom equivalent to 1 months rent*
Houseshares £300* per person
* Deposits may vary depending upon the property
The landlord of your property may be responsible for protecting the deposit in a deposit protection scheme. If the property is managed by YourNest, we will register your deposit in a deposit protection scheme on behalf of your landlord.
This will either be My Deposits, The Tenancy Deposit Scheme or the Deposit Protection Service. At the end of your tenancy, the deposit will be refunded back to you minus any deductions such as damages to the property or cleaning needed. Further
Once all your paperwork is completed and you have paid your deposit in full, a member of our team will call you to arrange a time for you to pick up your keys on your move in date. If your landlord manages your property, we will instead pass your paperwork onto them and ask them to contact you directly to arrange your move in. At the same time, we will pass on their details to you by email.