Research your market - Estate Agents

Large corporate:

• Can usually offer details on a wide and varied area.

Specialist local firms:

• Offering strong local knowledge over a specific area.

Research your market - Word of mouth

Visit shops, restaurants and bars:

• This is likely to give you a feel of the people in the area.

Friends and colleagues:

• No one can give a better insight than someone who lives in the area.

Research your market - Internet

Specialist property sites:

• There are a large number of sites available via internet search engines.

Estate agent sites:

• Many of these contain useful information.

Specialist resident development sites:

• A number of developments and blocks have their own Web sites, specifically dealing with issues relating to the development.

Local and general information sites:

• Local authority sites.
  General sites dealing with individual areas.

Costs

• Unless you choose to use a specialist home search or relocation company to find a property on your behalf you are unlikely to be charged a search fee.
• Most rents are quoted weekly and paid monthly in advance:
• Figures are based on a calendar month. For example the way to calculate the monthly rent on a property at £350 per week is
• £350pw X 52 weeks in a year = £18,200 per annum divide by 12 months to get the monthly rent of £1,516.67.
• Rents quoted do not include utilities or council tax.
• Tenants are responsible for payment of Gas, Electricity, Water Rates and Council Tax.
• Tenants are responsible for the costs of any telephone line rental and television license.

Insurance

• The tenant is responsible for insuring their own possessions.

Upon finding a property

Once you have decided on a suitable property to rent, each tenant will be asked to complete a reference form and pay a holding fee. We will provide you with a draft copy of our standard tenancy agreement.

References:

• All tenants will be subject to reference checks carried out by a credit referencing agency undertaking comprehensive checks including employment and income details, current and previous landlord references and credit searches. You will need to provide current and previous addresses for the past three years, current employment and employers details, current landlord details and a personal reference.
• In some cases, for example if you are a student, you may be required to provide a guarantor. The guarantor will need to be a UK based home owner and will be subject to the same referencing procedure. The guarantor will be required to sign the tenancy agreement.

Holding Fee:

• This is equivalent to one weeks rent and can be paid by cheque or direct bank transfer to our bank. This shows a ‘commitment to the property’ and once received generally means that the property is not offered to other applicants. This amount is then deducted from the total monies due, prior to moving in. In the event that the Landlord is unable or unwilling to let the property to the tenant, the holding fee would be refunded.
• Once the reference forms have been completed the necessary documentation will be drawn up and an appointment for the Inventory Check-In will be made.

Monies payable

Administration fee:

• £150 plus VAT, payable to ‘Alan Selby and Partners’ to cover the credit reference checks and the administration costs.

Deposit:

• This is an amount equal to six weeks rent. The deposit will be held for the duration of the tenancy.

Rent:

• One month’s rent in advance is required. Rents are payable monthly in advance.

Payment of moving in monies:

• Our bank details will be provided to the tenant to organise an electronic bank transfer. We do not accept cash or bankers drafts therefore tenants need to ensure they allow at least three working days for funds to be cleared in our account before moving in. Cheques can be accepted but must be received at least 10 days prior to moving in.

Inventory Check-In and Out:

• It is the Landlords responsibility to meet the cost of the Inventory & Check-In appointment. It is the tenant’s responsibility to meet the cost of the Inventory Check-Out at the end of the tenancy. The cost of which depends on the number of bedrooms the property has. Typical cost for a one bedroom apartment is £94.00 inclusive VAT.

The Process

Agree the rental price, moving in date and length of tenancy.

Alan Selby and Partners will be able to advise on each individual property.

Terms, alterations or conditions:

• If any specific requests have been made, for example a break clause or alterations to the property or furnishings prior to moving in, we will confirm these to both tenant and landlord in writing.

Complete reference form and pay holding fee:

• References are carried out.
  Reference reports are usually completed within three days.
  In some circumstances, for example during holiday periods where referees are away, this may take longer.

Tenancy Agreement:

• The tenancy agreement will be drawn up and sent to the tenant for signature with a standing order mandate for future rental payments and details of utility providers.

Inventory:

• We will arrange for an inventory of contents and schedule of conditions to be carried out on the property by an independent, professional inventory clerk.

Prior to moving in:

• All moving in monies must be cleared into our account and the tenancy agreement signed prior to moving in.

Moving in day:

• An appointment will be made on the day of move in, for the tenant to meet the inventory clerk at the property to carry out the Check-In appointment and hand over keys. The clerk will, wherever possible, take meter readings and record these on the report.

After move in:

• The Inventory report will be sent to the tenant and should be kept in a safe place to refer to at the end of the tenancy.
• We will inform the utility companies and the local authority of the new occupant details and provide them, wherever possible, with meter readings taken on the Check-In appointment. Most utility companies do request that tenants contact them personally to confirm details.