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Tenants

Groves Residential is an independent sales and letting agency whose aims are simple - to provide our clients with exceptional service whether they own one property or a large portfolio. With over 40 years experience in the industry we pride ourselves on achieving the highest possible rental return whilst, at the same time, providing the advice and back-up that will make the transaction as smooth as possible.

Fees To Tenants

HOLDING DEPOSIT: £400

  • (not strictly a fee as it is deducted from the first months rent subject to satisfactory references. Non refundable if satisfactory references are unattainable)

BEFORE YOU MOVE IN:

Arrangement Fee: £180 (inc VAT) per tenancy

  • Processing the application, associated paperwork.

TENANT REFERENCING FEE £40 (inc VAT) per tenant

  • Referencing per tenant identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement

GUARANTOR FEE £50 (inc VAT) per guarantor (if required)

  • Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement

CHECK IN FEE: From £60 (inc VAT)

  • Price dependent on size of property.
  • Preparing an Inventory and Schedule of Condition of the property,
  • Explaining how appliances function and Taking meter readings for utilities and services.
  • A cancellation fee up to the original cost of the check in will be charged if the appointment needs to be re-arranged.

PET DEPOSIT: Returnable Security Deposit amounting to an additional 2 weeks of the rental deposit. (8 weeks in total)

  • To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy

RENEWAL FEE: £100 (inc VAT)

  • Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

UPAID RENTS/RETURNED PAYMENTS

  • Interest at 3% above Bank of England Base Rate from date due

In addition a late payment fee of £12 will be made after 3 days of the rent due date.

PROFESSIONAL CLEANING (if required) From £100 (in VAT)

  • Which will be deducted from the Security Deposit
  • Price dependent on size of property.
  • Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.

Letting Process

Period of Tenancy
The most common tenancy offered is usually equivalent to 12 months and is known as an Assured Shorthold Tenancy.

Deposit
If you are interested in any of our properties and would like to progress to the application stage you will be expected to pay a deposit. This will ensure that the property is no longer marketed as available whilst references are being processed. This payment is known as the holding deposit and indicates that:

You are happy for Groves Residential to proceed with the application and obtain references on your behalf.
You are willing to commit and move into the property on an agreed date, we can only hold a property for a maximum of 3-4 weeks; this is at the landlord’s discretion.
Please be aware that until a holding deposit is paid in full we (and sometimes other agents) will continue to show the property to prospective tenants and so you risk losing the property to another prospective tenant.

If you (the tenant) back out of the application once the deposit has been paid then you will unfortunately lose the holding deposit and referencing fee. This is because the landlord would have taken the property off the market and Groves Residential will have stopped viewings so in effect the landlord has lost out on other potential tenants.
If the landlord should pull out for any reason other than the reasons mentioned above, your deposit will be returned to you in full.

Referencing
Once you have agreed to take a property and you have paid a holding deposit you will be asked to complete an application form. Information that you provide will be used to carry out various checks to ensure that you meet our requirements as a prospective tenant. Information that you will be asked to supply includes previous / current residential address, current / previous employer. There is no need to worry about the referencing process; it is a standard procedure that every applicant goes through. The Application process typically takes anything between 24/48 hours but can take up to 7 days to complete if you are coming from overseas or any of your references prove hard to reach. Groves Residential use a Credit Referencing company to assess tenants suitability. In some cases a guarantor will be required for which there will be a further charge. If this guarantor proves to be unacceptable, an additional fee will have to be paid for each subsequent guarantor. We will contact you as soon as referencing is complete to arrange time and date to check in, collect your keys and sign the tenancy agreement.

Guarantors
A guarantor is needed for those tenants who have recently moved to the UK and therefore cannot provide previous traceable UK addresses, tenants not working in the UK / students or for tenants whose annual salary does not satisfy the rental guarantee requirement of exceeding the property’s annual rent. A guarantor is usually a parent or relative that is willing to sign a consent form stating that should you default on the rent for whatever reason they are then liable for the outstanding amount. The guarantor generally has to be a UK resident. As a rule of thumb, you may need a guarantor if your annual salary is less than 30 times your share of the monthly rent.

Identification
It is very important that you provide proof of your Identification before we hand over the keys. i.e. passport or driving licence. We will be unable to hand keys over without this documentation.

Agency Fee
In addition to the holding deposit, you will be required to pay Groves Residential an agency fee. The agency fee is £180.00 (inc VAT). This charge is per property and covers all administration in addition to the preparation of the tenancy.

Full Deposit
Should your application be successful the holding deposit you paid at the start of the process will contribute towards the full deposit required which is equivalent to six weeks rent (sometimes an eight week deposit will be required if you have a pet). The full deposit total must be paid before the tenancy starts. The deposit is held in the Deposit Protection Service in accordance with government legislation.

Rent
One month’s rent is required in advance and as above must be paid in full before the tenancy starts and before we hand over the keys. Rent is then to be paid on a monthly basis usually by standing order on each subsequent month in respect to the original move in date. For example, if you moved into the property on the 10th March. Your monthly rent will be due on the 10th of each month thereafter.

Groves Residential will provide you with a standing order form on the day you check in. You will input your bank details and sign the form of which we will then send off to your bank. Please note: It is your responsibility to ensure your bank has set this up correctly to avoid missing your rent payment date as this is something we are unable to do. You can do this by contacting your bank directly. Please Note: Late rent payments will result in a late payment charge.

Cleared Funds
All monies referred to above need to be paid to us in cleared funds. This is most easily done by a direct transfer into our bank although we will accept cheques if given to us 10 working days in advance. PLEASE NOTE payment of any of these sums by cash is possible but we reserve the right to charge a handling fee of 2.5% on any amount over £500 (we make no money on this as it is the ludicrous amount our bank charge us to deposit cash!)

Move In & Check Out Procedure
Once referencing is complete we contact you to set up a suitable date and time for you to sign the agreement, pay the balance of the monies and collect your keys. Please note that all tenants that will be living in the property must be present to sign the tenancy agreement.

Inventory
An inventory check in will need to be completed prior to occupancy of the property, the cost of this is payable by you as new tenants. The fees vary depending on the size of the property and whether it is furnished or unfurnished and start at £80 for an unfurnished studio and rise to £170 for a furnished three bedroom house. Properties with four and more bedrooms are priced individually and will be notified to tenants on request. When the tenancy ends a check out report will be prepared in accordance with the inventory you signed at the start of the tenancy. The Landlord will be responsible for the cost of this check out. This report will determine how much of the deposit will be returned. If for any reason you are not checked into the property but are given an inventory, you have 5 days to check this and return it with any discrepancies that you find.

Maintenance and Repairs
As the tenant, you will be required to report any maintenance issues or necessary repairs that are required. These must be reported to Groves Residential if we manage it or the Landlord as soon as it comes to your attention. Failure to do so may result in us being unable to repair the problem in time before permanent damage is done. This may then result in part of your deposit being withheld.

Utilities Charges
All monthly rents are exclusive of utility charges; you will be directly responsible for any Gas, Electric & Water bills. At the start of each tenancy you will be given the current relevant meter readings (by the inventory clerk). These need to be supplied back to the utilities so they can set up your account and the property bills can be transferred into your name. It is also advisable that you contact the suppliers yourself to ensure the account is set up correctly as we rely on the postal service to get the notifications through to the utilities. This is highly recommended as to avoid any serious problems of arrears arising.

Council Tax
We will notify the local authority of your residence at the start of your tenancy. They will then calculate your monthly council tax payment for which you are directly responsible. It is the tenant’s responsibility to make sure the council tax is paid on a monthly basis. Please contact the council for more information.

Telephone
If you require the telephone line you are required to register your own account with BT or whoever the provider may be. It is your responsibility to close your account upon departure.

TV License
You are directly responsible for the payment of the TV license at the property.

Insurance
You are advised to obtain contents insurance for your personal possessions and (if appropriate) those left by the landlord.

Inspections
Regular inspections may be carried out on properties managed by Groves Residential; this gives you the chance to raise any concerns or maintenance issues with the property manager. Any damage to the property will be documented with photographs and may affect the return of the deposit.

Return of Deposit
The deposit is returned at the end of the tenancy, this is obviously dependent on the condition in which you leave the property upon departure. You must also provide documentation that shows all utility bills are paid up to date. We have to carry out various obligatory checks and procedures on behalf of the landlord before we contact the Deposit Protection Service to issue the return of your deposit. Please be aware that it is not permissible for you to cancel your last month's rent payment because we hold a security deposit. The deposit is legally a separate issue from rent payment and you will be in breach of your contractual agreement if you do this.

Groves Residential (UK) Limited is an Introducer Appointed Representative (Firm reference number 592691) of Let Insurance Services Limited, trading as LetRisks, who are authorised and regulated by the Financial Conduct Authority (FCA). See www.fca.org.uk/register for further details.

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