Once you viewed a property and decided to go ahead, you will need to fill in an application form and provide two forms of identification i.e. Driving Licence, Passport, Debit Card etc.
In order to reserve the property, a holding fee is charged equivalent of 1 weeks rent. Until the holding fee is paid we are unable to reserve the accommodation, and the property will continue to be marketed. If the application is successful this will go towards the first months rent instalment. If the application is not accepted due to false information, failed referencing or the tenant withdrawing their application then this fee is non refundable
If I decide not to take the property will I lose my Holding Charge?
The Holding Charge is refunded if the landlord declines the tenancy.
If the application is successful this will go towards the first months rent instalment. If the application is not accepted due to false information, failed referencing or the tenant withdrawing their application then this fee is non refundable
What if I cannot provide suitable references?
Where the tenant is a student or not currently in employment, the tenant can have a financial guarantor to agree to underwrite any rent, utility bills, breakages, liabilities. A financial guarantor might have to be obtained in the event of the tenant being in employment for less than 12 months.
Normally the financial guarantor would be the parents or relative; sometimes an employer; the only requirement being that they must be a property owner and over 18 years of age. The guarantor will be responsible for paying for any monies outstanding as a result of the tenancy. The guarantor will also need to pass the referencing procedure as above.
What will I have to pay when signing the contract?
Rents are normally quoted on a calendar month basis (i.e. £550.00 PCM inc VAT). The tenant will have to provide one month's rent in advance upon signing the contract. Following the first month's rental payment, you will be required to pay your rent by standing order.
However, some landlords have different arrangements therefore upon signing the contract a representative will inform you of the payment method.
If you move into the property in the middle of the month this will be your rent due date. Should you or the landlord require the rent to be paid on the 1st of the month the rent will generally be calculated on a daily basis up until the end of the month and paid thereafter on the 1st of each month.
A deposit is also required before taking occupation; this is usually 5 weeks rent. If Hamilton Smith Lettings manages the property then we will hold the deposit in a bonded clients account; however if the property is ‘let only’ the landlord will hold the bond deposit separately in an approved scheme.
Fees To Tenants