Having chosen a property to rent you will be required to pay a holding deposit (equivalent to 1 week of the monthly rent), complete an application and provide 2 original forms of identification (one should be your current Passport or Immigration document for non EEA or Swiss nationals).
References will be sought from your employer and landlord and your credit file will be searched by a licenced credit referencing agency.
Upon receipt of satisfactory references you will be asked to sign an Assured Shorthold Tenancy Agreement and you will be advised how much deposit and rent is due, along with details of how and when it should be paid.
The deposit is the equivalent to 5 weeks of the monthly rent. The purpose of the deposit is to cover damage to the property over and above normal wear and tear and/or any rent arrears or costs incurred as a result of a breach of the contract.
The 2004 Housing Act prevents landlords from holding their own deposits. As Inter-let is a member of the Tenancy Deposit Scheme, all deposits relating to Assured Shorthold Tenancies will be held under the rules of the TDS. Deposits relating to tenancies which are not Assured Shorthold Tenancies are not part of the scheme but will be dealt with along the principles of the scheme.
At the end of the tenancy we will check the property carefully. We are required to agree deductions between Landlord and Tenant and will do everything we can to reach agreement. If agreement cannot be reached the matter will be referred to the TDS for arbitration. Both landlord and tenant must accept the decision of the Independent Case Examiner.
Holding Deposit: One week’s rent- to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (Rent under £50,000 per year): Five weeks’ rent - to cover damages or defaults on the part of the tenant during the tenancy.
Security Deposit (Rent of £50,000 or over per year):Six weeks’ rent- to cover damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent: Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s): Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request): £50 (inc. VAT) per agreed variation.To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request): £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher.
Early Termination (Tenant’s Request): Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
From the 1st of April 2016 Inter-let Property Management will be the trading name of Inter-let (Cambridge) LLP registered in England under Partnership No: OC403464; Registered Office: 9 Percheron Close, Impington, Cambridge, CB24 9YX
Inter-let is a member of the Propertymark Client Money Protection scheme view CMP certificate here and independent redress is provided by The Property Ombudsman scheme.
The Association of Residential Letting Agents, ARLA, is the only professional body that is solely concerned with the self-regulation of letting agents and for nearly 25 years has been actively promoting the highest standards across every aspect of residential lettings and management in the Private Rented Sector.
ARLA is viewed by government, consumer groups, academia, think tanks and the media as the leading voice in the industry. ARLA member firms are seen as being at the forefront of the Private Rented Sector, ready, willing and able to comply with existing and anticipated government legislation.