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WHAT TO EXPECT WHEN SECURING A PROPERTY

Once you have viewed a property and reached the decision that you would like to sign for a property, we will make an appointment for you to visit our office to complete some paperwork.

We ask for all paperwork to be finalised within two weeks of signing the tenancy agreement for the property, so please make sure that you action any emails we send you as quickly as possible.

WHAT IS A HOLDING FEE?

You will be asked to make a payment of a holding fee to secure a property initially. The holding fee is used to show your intention to let the property and enables the property to be taken off the market.

Once the contracts have been finalised your holding fee will be used towards your deposit.

The holding fee is none refundable if you choose to withdraw your application on the property.

APPLICATION FORM

The application form includes 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.

RIGHT TO RENT CHECKS

It is a legal requirement that we must conduct a check on you called 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 and your visa (if applicable) in our office.

If you do not have an in-date passport, we can also review other documentation as part of the check such as your birth certificate and driving licence or a letter from University if you are a student accompanied by your driving licence. We cannot accept scans of the documents, and must see you and the original document in our office as part of the Right to Rent check.

TENANCY AGREEMENT

If you are a group taking a whole house, you will be signing a joint tenancy agreement which means that as a house you are responsible for making sure that all rent payments reach the landlord each month. You will however have your own standing orders or direct debits for your part of the rent on the property.

A tenancy agreement is legally binding and you must ensure that you read the document carefully and ask questions if you are unsure about any clauses of the contract before signing.

The tenancy agreement sets out yours and the landlords’ obligations under the agreement. This includes items such as your rental amount, dates of payments and items that are not permitted in the property such as smoking or keeping pets.

STANDING ORDER OR DIRECT DEBIT FORM

You will need 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 given a direct debit form to complete at the time of signing for the property.

REFERENCES

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 on you.

If you successfully pass your references, you will then be invited to visit the office to complete your tenancy agreement.

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.

GUARANTOR FORM

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 someone that is a home owner.

Your guarantor will be emailed a form called a Contractual Guarantee. Your guarantor will be asked to sign the form online via e-signing. They won’t need any fancy apps to do this, just open the email and follow the instructions.

DEPOSIT & HOLDING FEE

A holding Fee of £50 will be taken on your chosen property to secure whilst we arrange the finer details, this is equivalent to 1 weeks rent.

You will be asked to pay a deposit to cover any damages at the property.

Deposits for Students

  • 1 & 2 bedroom equivalent to 1 weeks rent*
  • 3+ Bedrooms £300* per person
  • 3+ Bedrooms (Astons or Templeway properties only) £200* 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.

ADMINISTRATION FEE

There are no administration fees when signing for a property with YourNest.

MISCELLANEOUS FEES

  • Late Payment of Rent – Daily charge of interest on the late payment of rent calculated at 3% above the Bank of England base rate
  • Company signing fee – £350
  • Reassignment Fee (name change on tenancy) – £50
  • Cleaning £20 per hour
  • Key Cutting – 1 individual key – Cost of key
  • Key Cutting – Several keys or lock change – Cost of key +£10

Find out more

If there is anything else we can help you with, drop us an email or give us a call on 0113 3120 222 and our team will be in touch.