Renting a property can feel daunting at first, we’ve compiled some tenancy FAQs to try and make the process as clear as possible for you.
- What initial charges are there for tenants?
None – No admin fees, no contract signing fees, no hidden charges
- Why do prospective tenants have to place a holding fee?
Placing a holding deposit of one week’s rent tells us that you are serious about renting a property. It allows us to begin the referencing and contracts process so we can stop advertising the property to other tenants.
The holding deposit is placed towards the first month’s rent upon successful contract signing. If referencing is unsuccessful and can’t secure appropriate guarantors, or the landlord isn’t happy with these tenants, the holding deposit is returned to the tenants. If the tenants decide they no longer want the property, the landlord can make claim to the holding deposit to cover the cost of the property being off the market
- Why do I have to pay a deposit?
As Landlords we trust tenants to keep the property in a good condition and in good order. The deposit is held to ensure that any damages (over and above fair wear and tear) can be corrected at the end of the tenancy.
- What deposit scheme do you use?
Any deposit paid to us will be protected in a MyDeposits Custodial account. MyDeposits is one of three government approved schemes for tenancy deposit protection. It is a requirement for all properties in the UK to have the deposit protected by a government approved deposit protection scheme.
- What happens to my deposit after I move out?
At the checkout, the property and its contents will be assessed and compared to the initial inventory and subsequent inspection reports. The expectation is that the property is left in the same condition in which it was let to you – allowing for ‘Fair wear and tear’. Within 10 working days of the tenancy ending, any deductions from the tenancy deposit should be agreed.
- Why do you do a reference?
Landlords need to be sure that that there won’t be any problems paying the rent on a monthly basis and that the prospective tenant will take good care of the property. Referencing is nothing to worry about and an agency will collate and check the information to ensure prospective tenants are able to commit to monthly rental payments.
- What is involved in a reference check?
We use an agency called RentGuard for our reference checks. They will perform checks on the following areas:
- Linked Address, Identity & Fraud Information
- CCJs, Decrees, and other court information
- Right to Rent Check and Advice
- Affordability Rating
- Previous Landlord Reference
- Income & Employment Check
- Credit Check
- What are ‘right to rent’ checks?
This is when a prospective tenant of a rental property shows their identity documents in person to a landlord or letting agent. This is a similar checking process to presenting your passport to a border control officer at an airport. We are required to take a copy of the documents seen, and record the check being completed.
- What is an inventory and why is it prepared?
Before you move into your property Macosie will have prepared an inventory. This document describes the condition of the property and anything left within it. By both parties agreeing that the inventory is correct at the start of the tenancy, any risk of disputes at the end of the tenancy will be minimised.
- Who is responsible for notifying the utility companies/council that I’m moving in?
Although Macosie will initially notify the utility companies, it is your responsibility to ensure that your account is set up and your bills paid. Your supplier’s details will be in your welcome pack which also contains your meter reading at move in.
- Do I need my own insurance?
Macosie Properties insures the building however you may want to take out your own contents insurance.
- What are my responsibilities as a tenant?
As the tenant you are expected to
- Pay the council tax
- Pay the rent on time
- Pay all the utility bills and the TV licence unless otherwise agreed
- Do general household and garden maintenance
- Dispose of all rubbish
- Clean the windows
- Carry out basic maintenance* such as replacing light bulbs
- Keep the property secure at all times
- Advise of any repairs or maintenance needed as soon as it arises
- Not create unnecessary noise for neighbours
- Ventilate property
If you have any questions which aren’t answered above, please don’t hesitate to contact us on hello@macosie.co.uk and we’ll be happy to help.
