Referencing:
On behalf of our landlords references are processed by MARAS, an independent agency, for which there is an administration charge per person, payable at the time you secure the property. The MARAS application is completed on line. You will receive an email from them with the relevant link, and completing the form is straightforward. You will also be able to track your application online at the MARAS web site.
There are no agency fees!
Subject to satisfactory references, on the day you take possession you will sign a tenancy agreement for an initial term of typically six or twelve months and pay the balance of the deposit and the first month's rent in advance with cleared funds i.e. cash, bankers draft or Internet banking transfers in real time. Personal cheques are no longer acceptable. Thereafter the rent is paid calendar monthly by standing order mandate on the first day of each month. An inventory will also be conducted by a third party and the utility meter readings agreed. You will be responsible for all utility accounts, including council tax, and must register with the relevant company within a few days of moving in so that the supplies are not disconnected.
Deposits:
As part of the Housing Act 2004 the Government introduced tenancy deposit protection for all assured shorthold tenancies (ASTs) in England and Wales where a deposit is taken. From April 6th 2007, all deposits paid under an AST should have been protected within 14 calendar days of receipt by the landlord. From 6th April 2012, deposits for all assured shorthold tenancies (ASTs) in England and Wales must now be protected within 30 calendar days of receipt by the landlord, this change is as a result of the Localism Bill 2011.
The legislation aims to ensure that tenants who have paid a deposit to a landlord or letting agent and are entitled to receive all or part of it back at the end of that tenancy, actually get it.
Insurance:
Another point for tenants to bear in mind is contents insurance. A landlord insures their property but this does not cover your personal possessions. Accordingly you are encouraged to take out tenants insurance. 1sthome is an Introducer Appointed Representative, (IAR) for MARAS Insurance Products. MARAS offer competitive insurance cover, which can also cover accidental damage. Call them direct on 020 8440 3322 for a quote.