1. MAKING AN OFFER
Once you have found a property that you would like to rent, we will liaise with the landlord to
negotiate rent and terms. The minimum term for tenancies is 6 months and rent is
payable per calendar month in advance.
2. SECURING YOUR PROPERTY
Reservation Fee: Equivalent to one weeks rent (also known as a holding deposit, meaning the property is taken off
the market and all viewings are stopped. Also this fee is offset against initial rent in advance)
References will be conducted for all prospective tenants. We will use a credit reference agency and will need
you to complete a reference form within 24 hours of receipt. Employment detail, proof of ID and address will be
required to commence references. In certain cases, e.g. students or new arrivals in the UK, we may
require a guarantor or 6 months’ rent in advance. References will also be taken on the
4. TENANCY AGREEMENT
When satisfactory references have been obtained, we will prepare a Tenancy Agreement
between the Landlord and Tenant. This must be signed by both parties prior to the
commencement of the tenancy.
5. BEFORE YOU MOVIN IN
Before you can move into a property, in most cases you must pay one calendar month’s rent in advance and
a security deposit of equivalent to five weeks rent. The deposit will be registered in the tenancy deposit scheme or held by us as a
Stakeholder or by the Landlord against any damage to the property (details will appear in the
6. MOVING IN
Usually there is a Check-in inspection of the property with an inventory clerk before you
move in, to record the condition and contents of the property at commencement of the term.
As a Tenant, you will be responsible for paying all utilities, i.e. Gas, Electricity, Water, Council Tax, Telephone and TV Licence charges.
Therefore, you must register with the relevant companies unless the property is managed us then it will all be done for you.
DURING THE TENANCY
7. RENTAL PAYMENTS
We will arrange a standing order mandate for your rental payments, however it is the tenants
responsibility to check that payments have been set up correctly as the bank will not discuss
your account with a third party. Please note that where late rental payments will incur a
charge as detailed below in schedule to cover additional costs involved in rectifying the
situation. If your rent payment is delayed by 7 days, you will be sent a reminder by post and immediate
payment will be required. Arrears Processing fee – £42.50 (per letter)
8. MOVING OUT
There will be a check-out inspection of the property with an inventory clerk when you are moving
out to record the condition and contents of the property at the end of the term. This will
determine the amount of the deposit to be returned after vacation.
For any reason you wish to terminate your tenancy earlier than the term, you may be released
from it earlier only if the Landlord agrees and a replacement tenant has been found. Early
Termination fee – £850.00
If you wish to stay on in your rental property after the end of your initial tenancy, we will
Negotiate and arrange a renewal for you, subject to the Landlord’s agreement.
10. COMPANY LETS
For a tenancy where the rent is paid by a company, please note this will not be an Assured
Shorthold Tenancy Agreement. As a result the Tenancy Agreement will need to be signed by
an authorised company signatory (usually a Director).
SCHEDULE OF CHARGES
HOLDING DEPOSIT – Equivalent to One Weeks Rent
When the terms have been agreed with the landlord for a rental property, the Tenant will be required to
make a holding deposit equivalent to one week’s rent to take the property of the market. This amount will be deducted
from the first month’s rental payment. If you withdraw from the deal after this point, or references do not
meet our criteria, this sum will not be refundable.
DAMAGE DEPOSIT – 5 WEEKS RENT
A security deposit of five weeks rent will be required for all tenancies, payable in advance.
LATE RENT PAYMENTS – £42.50 + VAT
Where Maxwell Property Ltd. are responsible for collection of rental payments and/or management of
the property, late rental payments will incur a fee as above to cover the costs of recovering payment.
This charge is in addition to any interest or costs payable to the Landlord under the terms of the tenancy
Early Termination & Change of Occupier fee – £850.00
Subject to landlord’s approval, successfully finding a replacement tenant and paying of the above we you may be able to terminate your tenancy earlier.