From studio flats to family homes, the team at My World Estates have expert knowledge of the local market to guide you through the renting process and we will help to find you the right home in your desired location. Our professional team are always on hand to give you the best of services to help you fulfill your needs.
Below is our guide of the process of renting through us.
Once you have found a property in which suits you and you have viewed it, we will make you fill out a simple form in which implies you want the property and we pass this onto the landlord for consideration. At this time any details or requirements can be agreed such as including the move in date, duration of the letting, fees and etc. Once payment and forms have been signed, a tenancy agreement will be made.
If we carry out credit checks and find out you will not be able to pay the rent monthly or may have problems doing so, you may be asked to provide a guarantor. A student or anyone unemployed will most likely need a guarantor. You may also require a guarantor should your income fall short of the required figure. The guarantor should be a home owner in the UK and also be working full time. When a guarantor is in place, they will be contractually liable, both financially and legally, should you fail to pay the rent during your tenancy or in the event of damage to the property.
Tenants Admin Fee:
On application we charge a fee to cover the process of checking your references and credits checks, producing the tenancy agreement and legal notices and all other administration to start the tenancy. This admin fee is a one off payment which is £350 upfront cost + £75 extra if you require a guarantor. Please note that if your applications fails or is withdrawn, the cost is non refundable.
Reserving a property:
When tenants put a holding deposit down for a property, this lets the agents know you are serious about taking the property and also then enables the landlord to take further action to making sure the property is ready for tenants to move straight in. This is payable at the same time as the agency fee.
Below are the ways in which we reserve a property:
- May cancel any advertisements which are up for the property.
- Tell other applicants that the property is under offer, therefore avoiding “stringing them along” for too long, though you should continue to take details just in case.
- Prepare a letting agreement for the new tenants.
- Take up references for the property.
- Carry out credit checks too see if you will be able to make payments (some landlords make a charge for this – administration fee, agents almost always do).
The holding deposit is particularly appropriate where there is good demand for the property and the landlord may lose other prospective tenants if the applicant causes unnecessary delay or declines the tenancy at the last minute. The holding deposit is a appropriate amount of compensation for the landlord’s loss should the tenant decline right at the end of the agreement. This is usually the same amount as the rent in which you will be paying if you was to move into the property.
We will take references on behalf of the landlord to have a look to see if your working, your income, your employer, any former landlords, character reference, current banks statement and pay slips, copy of identification such as your passport or driving licence. In addition a credit check will be undertaken, using a referencing company using all the documents received from the tenants.The tenant in certain circumstances may be able to have a guarantor agreement to underwrite any rent liabilities but having a guarantor will cause extra charges for the tenant.
Restrictions To The Property:
Below are a list of common restrictions that some landlords may set for their properties are :
- Housing Benefit (DSS)
Please refer for further information on individual properties and if restrictions apply. We will make sure you have been informed about any restrictions to the property before an agreed viewing.
Tenancy Deposit Scheme:
The deposit is normally one months advance rent.This means that it is protected both during and after your tenancy and when you leave we will negotiate any proposed deductions helping Tenant and Landlord to reach agreement. All deposits now have to be protected by law so if you are considering renting through a private landlord or another Agent, ensure you satisfy yourself that they are complying by asking them which Tenancy Deposit Scheme they are registered with.
Before your tenancy begins we require the first month’s rent, deposit and fee in cleared funds. This is used in the event of breakage or damage caused to the property.
Rents are payable by standing order in advance, and are normally due one day before the tenancy agreement was made/ or one day before they moved in. For example, if the tenants moved in on the 6th May, the next rent due date would be the 5th June.The tenant is also usually responsible for gas, water rates, council tax, electricity and also any other bills such as telephone.
Completion And Check In:
Once your reference is returned to us and has been accepted, we will make a date for you in which you can move into your new home. You will need to come to our office where in which we can go though the contract and get it signed, finalize all payments, go through all health and safety requirements, legal requirements and once tenants are clear with everything, we then hand over the keys so you can get moved into your new accommodation. When moving tenants into their new property, one of our colleagues will help assist them and also take a written and photographic inventory of the property before moving you in.
Tenants (Administration Fees) = £350 Upfront Cost + £75 extra if you require a guarantor.
Tenancy Agreement = £25
Late Rent Fee = £25
Bill Changes = £50
Ending Tenancy = £75
Starting Tenancy / Moving in = £75
These are guideline prices. Prices may vary.