To ensure a smooth tenancy process, all prospective tenants are required to meet our referencing criteria. Below are the minimum requirements:
Requirements:
Employment: Minimum 6-month employment duration is required.
Earnings: Monthly earnings must be at least 2.5 times the annual rent. For example, for a monthly rent of £850, the minimum annual earnings should be £25,500.
Credit History: Disclose any County Court Judgment (CCJ) or adverse credit before the referencing process. Early communication is crucial, and tenancy may still be possible.
Guarantor: If earnings fall below the threshold, a guarantor is needed with income at least 3 times the annual rent, Multiple guarantors are accepted, each with a clean credit history.
Income Consideration: Bonuses or overtime cannot be included in income calculations.
If you’re coming to the end of your tenancy and want to move out, you might be wondering what to do next.
This comprehensive guide aims to provide you with valuable insights, throughout the rental process.
UK tenants in privately rented properties have a number of rights to cover themselves from unfair evictions, rent increases and more.
Guarantor Guidelines with RE/MAX Elite:
Application Process:
Payment Monitoring:
Legal Commitment:
At RE/MAX Elite, our streamlined process ensures clarity and prompt action when needed. Your tenancy satisfaction is our priority.
As a tenant, certain responsibilities fall under your care to ensure a harmonious tenancy. These include:
Contents Insurance: It is your responsibility to secure insurance coverage for your personal belongings and possessions. We can assist you in obtaining suitable references to help streamline this process.
TV Licence: Regardless of whether the landlord provides a TV, you are accountable for obtaining a valid TV Licence.
Phone and Broadband: Making arrangements for phone connections, landline, and broadband services is your responsibility, subject to the landlord's agreement. It is crucial to seek landlord approval before setting up additional services.
Smoke Alarms: Regularly checking the functionality of smoke alarms and replacing batteries as needed is your duty to ensure the safety of the property.
Utility Companies and Local Council: It is essential to contact the relevant utility companies with accurate meter readings, both during move-in and move-out appointments. This ensures the proper handling of your utility accounts. Additionally, keeping the local council informed about your tenancy is advised.
To ensure the protection of both parties, a security deposit equivalent to 5 weeks' rent will be required. Rest assured that we handle the deposit in strict accordance with the Tenancy Deposit Protection regulations. As a tenant, you will receive all the necessary prescribed information and comprehensive details about the specific scheme utilized.
The deposit serves as a safeguard against potential damages, breakages, and any other liabilities outlined in your tenancy agreement. It is important to note that the deposit cannot, under any circumstances, be utilized by the tenant to cover rent payments. Instead, its purpose is to address any valid claims within the agreed terms.
We prioritize transparency and compliance, and our team will be available to address any queries you may have regarding the deposit process. Your peace of mind and the security of your tenancy are of utmost importance to us.
Rest assured that we prioritize the protection of your deposit by law. As responsible landlords, we ensure that your deposit is registered with one of the three available schemes. If we manage the property on behalf of the landlord, we take the initiative to register your deposit with the reputable Deposit Protection Scheme. Feel free to explore their dedicated website at www.depositprotection.com for further information and peace of mind.
Taking the Next Steps: Securing Your Ideal Property
When you discover the perfect property, here's what you need to do:
Visit Our Office: Drop by our office, where our friendly staff will be delighted to assist you in completing the necessary paperwork. We're here to guide you through the process and address any questions or concerns you may have.
Holding Fee: To secure the property while we conduct the referencing process, a minimum holding fee of £150 is required. Please note that this fee is non-refundable. However, it will be deducted from the total amount of moving-in expenses upon successful completion of satisfactory references.
At our agency, we strive to make your tenant journey as seamless as possible. Don't hesitate to reach out to us if you require any further assistance or clarification.
refer to the immigration checks that landlords or their agents must conduct to verify the immigration status of prospective tenants before granting them a tenancy in the United Kingdom. The checks are a legal requirement under the Immigration Act 2014 and aim to prevent illegal immigration and ensure that only individuals with the right to reside in the UK are granted access to rented accommodation.
Application Submission: Complete all sections of the application form sent via DocuSign. Ensure every field is filled; use N/A where applicable.
Reservation (Holding Fee): Submit the holding fee to secure your rental. Bank details are provided on the application form. This fee is applied to your rent upon move-in.
Reference Checks: Expect an email guide on uploading documents for third-party reference checks conducted by Proply.
Credit History Check: Assessing for bad credit, CCJs, or bankruptcy. A guarantor may be required if the credit history is unfavourable.
Proof of Identity: Provide a copy of your Passport or Driving Licence.
Proof of Income: Submit two months' wage slips. If rent exceeds 40% of annual income, a guarantor is needed.
Previous Landlord Reference: Supply the previous landlord's name and contact for a verbal reference.
Guarantor (If Required): For students or those not in permanent full-time employment, a guarantor is needed. They must fill out an application form and provide the necessary documents.
Shared Tenancy Approval: For shared tenancies, approval is granted only when all sharers successfully apply.
Tenancy Agreement: If your application is successful, a digital tenancy agreement will be sent. Attend the appointment or sign in advance. Guarantors must also sign in advance.
Legally Binding Tenancy: The tenancy becomes binding upon signing. Coordination with the landlord is crucial if multiple agents are involved.
Guarantor Details: Guarantors agree to tenancy terms but don't reside in the property. They undergo credit checks with an additional fee.
