Thinking About Renting?
Do your homework and identify the areas you'd like to live in. Make a note of all the important aspects to you such as, transport links, schools, shops and local amenities, these will help you to concentration your search. Be sure to let us know your list 'must-haves' so we can help narrow your search.
Let us know when you need to move by, especially if you need something urgently - we will do our best to help find the right home for you.
The lettings business moves at a fast pace so when it comes to viewing properties that suit your requirements try to be as flexible as possible or you risk missing out on your ideal property.
If you find a property you like but perhaps put off by some aspect in the property, enquire if the Landlord would make any changes. We encourage our landlords to have a degree of flexibility for the right tenants looking especially if you are looking for a long term let.
Remember we carry out a range of rigorous checks on all prospective tenants. You will need to be able to pay a move in balance prior to collecting your keys, these monies include a one and a half month’s rent as a deposit, one month’s rent paid in advance and administration fees, these are covered in more detail in our fees section.
Becoming a P&B Tenant
Once you have found your potential home you will be asked for a £350.00 up-front administration fee upon receipt of which we will put the offer to the Landlord for consideration. Please note that any offer you make would be subject to you fulfilling our reference criteria, should your offer, or any revised offer be refused your £350.00 will be refunded.
Assuming your offer is accepted the property will be taken off the market whilst references are taken and we will prepare the Tenancy documentation. We will email you a link with your application form to be filled in by you. Once completed you simply press the ‘submit’ button which starts the process.
We allow 5 working days for the references to be approved after acceptance of your offer. Failure to comply and the Landlord reserves the right to re-offer the property. In these circumstances or, should your references prove unsatisfactory or, you decide not to proceed, you will forfeit the up-front administration fee.
Once you pass referencing an appointment will be arranged with you to visit our offices to sign the Tenancy Agreement.
For more details on tenants reference criteria and documents you will need to provide please refer to ‘Tenants Referencing’.
Tenant Referencing
To pass the income criteria to be considered for the property you must earn [collectively in the case of two or more tenants] at least 30 times the monthly rent.
References are thorough and taken up by a Third Party Specialist Company. They will contact your employer and your landlord. Your previous employer will also be contacted if you have recently changed jobs. If you are self-employed they will need to contact your accountant. A credit check and search of public records will also be conducted – you must be clear of adverse credit.
To help speed up the process, it would be advantageous for you to warn the relevant individuals in advance that references are required.
Occasionally, a GUARANTOR will be required if, for example there is a break in continuity of employment or your income falls slightly short. The same referencing criteria applies to the guarantor, in addition your guarantor must own their own property as evidenced by Land Registry.
Please note, where a Guarantor is in place they will need to sign relevant documentation each time the tenancy is renewed.
An appointment will be arranged with all tenants to visit our offices to sign the Tenancy Agreement when all references have been received. During this meeting you will need to bring, proof of address placing the you in the property given for reference purposes, this can be in the form of a utility bill, council tax bill or mobile phone bill, all must be less than 3 months old. You will also need to bring photo ID, this can be a current valid driving license or passport.
Non-resident Tenants will need to provide evidence that they are eligible to stay in the Country for at least the term of their proposed Tenancy.
For more details on move in costs and fees please refer to our ‘Costs and fees’ section.
Costs & Fees
You will be required to provide the agreed sum of rent and deposit together with administration and referencing fees in cleared funds [known as the move in balance] before taking possession of the property.
These monies are made up of:
- One months rent.
- One and a half months x the rent as a deposit [rounded up to the nearest pound]
- Tenancy Administration fee £150.00 [£180.00. inc VAT]
- Reference Fee £60.00 [£72.00 inc VAT] for each occupant over the age of 18 and Guarantor if required.
- Guarantor Admin £75.00 [£90.00 inc VAT] these monies are also charged for any subsequent renewal.
The up-front administration fee paid prior to your offer being submitted to the Landlord is deducted against the move in balance.
The deposit is required for the full tenancy against loss, damage or charges payable at the termination of the tenancy. Whilst this is usually the equivalent of one and a half month’s rent, it may vary dependent on your circumstances, for instance if you had dog's your Landlord may agree subject to a larger deposit being taken at outset.
The deposit will be held by the Deposit Protection Service [DPS], where monies are held in their designated clients account. It is refundable in full at the end of the tenancy subject to final inspection of the property and any monies that may remain outstanding from your Tenancy.
Rent is to be paid monthly in advance and to be cleared funds on the first day of the tenancy and then on the same day each month thereafter. The payment method is by bank standing order, you will incur costs for all other payment methods, for further details please contact our office.
A fee of £100.00 [£120.00 inc VAT] is charged to the tenant for renewal of all tenancies. Guarantors must sign new documentation for each renewal at a cost of £75.00.[£90.00 inc VAT]
There is a check-out fee of £150.00 [£180.00 inc VAT] due at the end of your tenancy.
Other Points to Note:
1. The Tenant will be responsible for insuring their own possessions. We can provide a quote if needed.
2. The Tenant will take over all utilities including, but not limited to, Electricity, Water/Sewage charges, Council Tax & Telephone upon moving into the property.
3. The Landlord is responsible for any repair/maintenance problems to appliances etc. but the Tenant is responsible if they cause the problem.
4. Decoration of the property must only be done with your Landlord’s written permission.
5. No pets are allowed unless the Landlord has given written consent.
6. Reasonable notice should be given in the event that the Letting Agent or Landlord wishing to inspect the property outside pre-agreed times. It is usual for the Agent to inspect the property at least every six months during the term of your Tenancy.
7. Most lets are for 12 months, although some Landlords may consider shorter terms of say 6 months.
8. The most common type of Tenancy Agreement is the assured short hold and usually takes the form of a standard contract between both parties.
9. The Letting Agents will deal with the property viewings, references, agreements and getting you moved in. If the agent has been instructed to manage the property then you will normally report any repairs or queries to them. If not, then you will deal directly with the Landlord.
10. Note: Park & Bailey Lettings do not subscribe nor hold client money protection.
11. All Tenancy Deposits are paid to the Deposit Protection Service, a Government approved deposit scheme and, only released at the end of the tenancy by either mutual consent, adjudication or subject to a Court Order.