Where we provide our landlords with a full property management service, we will be your point of contact for any questions or queries you have whilst living in the property. This guide provides details of to help you with the rental process.
Once your offer has been accepted by the landlord (subject to contract and receipt of satisfactory references) a holding deposit of one week’s rent will be requested from the tenant to withdraw the property from the market. The deposit is non-refundable unless the landlord does not proceed with the tenancy. If the tenancy proceeds the deposit will be deducted from the initial monies payable.
Malverns uses the services of a credit reference agency to assess a potential Tenant, the cost of which is £40.00 including VAT and is charged to the Tenant. We will also need a copy of your photographic ID to be kept on record.
After the administrative deposit has been paid we will ask for the following monies prior to the start of your tenancy:
The first instalment of rent
One half of the cost of the Tenancy Agreement Fee, typically £240 incl. VAT
The Tenant Reference Fee, as detailed above
Dilapidations deposit, normally the equivalent of 6 weeks rent
All cheques or bankers drafts should be made payable to Malverns.
This payment must be in the form of cleared funds, i.e. cash (maximum of £5,000), banker’s draft or direct transfer to Malverns’ clients account. If payment is made by personal cheque please allow 7 working days for clearance before the commencement of the tenancy.
Subsequent payments of rent should be paid by standing order to Malverns’ client account to arrive on the due date.
Malverns is a member of The Dispute Service Limited which operates to safeguard your deposit and to ensure that any dispute over the return of the deposit at the termination of a tenancy is resolved swiftly, inexpensively and fairly. Please refer to www.thedisputeservice.co.uk for further information.
Where a Malverns’ Tenancy Agreement is used the cost of preparation is shared equally between the landlord and tenant. In this instance each party will be charged £240 incl. VAT.
Should you wish to renegotiate and extend your lease beyond its original term a charge of £60 (inc. VAT) will be charged to both the tenant and landlord.
INVENTORY CHECK-IN AND OUT
An inventory check will be conducted at a pre-arranged time with an independent inventory clerk booked by Malverns. We recommend you are present at both check-in and out to avoid any later dispute. The landlord will typically pay for the check-in and the tenant for the check-out.
Tenants are responsible for all utility payments and council tax for the duration of the tenancy. At the commencement and termination of the tenancy, we will contact each company with meter readings and change of name.
As the tenant you are responsible for insuring your own contents. We can provide you with recommendations of where to purchase your insurance from.
TENANCY DEPOSIT SCHEME
The Tenancy Deposit Scheme (TDS) is run by The Dispute Service LTD. It is an insurance backed tenancy deposit protection scheme authorised by the government.