Relevant Letting Fees and Tenant Protection Information

Tenant Information

At Regal Park we believe in transparency when it comes to fees payable when you apply to rent a property through us. We believe you should understand the fees before proceeding with a property.

In addition to paying rent for the property, you may also be required to make the following permitted payments.

Before the Tenancy Starts

A Refundable Holding Deposit

To reserve a property, you may be required to pay one weeks rent, whilst the reference checks are being carried out.

Deposit
This is usually one month’s rent or a maximum of five weeks rent.

During the Tenancy

Rent
This is payable monthly on the due date of your tenancy start date.

Amendment to the Tenancy Agreement
A payment of £72.00 inc VAT if you want to change or amend the tenancy agreement.

Loss of Key
A payment of £12.00 inc VAT for the reasonably incurred costs for the loss for a replacement key

Utilities and Bills
In addition to your rent, you are required to make the following payments (if applicable);
Council Tax
Utilities – Gas/Electric/Water
Communications – Telephone/Broadband
Installation of Cable/Satellite
Subscription to Sky/Cable/Satellite supplier
Television licence

Tenant Protection
Regal Park Property Management Limited is a member of Safe Agent, which is a Client Money Protection Scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on the agent’s website or by contacting the agent directly.

Application Process

Once you have found your ideal home, we will ask you to fill in a property proposal form, which we will then discuss with our Landlord.

Before submitting your proposal form, please ensure that you meet the following requirements:
You will need to earn an income to rent ratio. For example, if the rent of a property is £850pcm, then we calculate your rent (£850) x 30 = £25,500 to give us an estimate of what your gross annual salary will need to be in order for you to qualify for the property. If earnings fall short of this, then your application could be considered with a Guarantor at the Landlords discretion.

Upon acceptance from our landlord a refundable holding deposit of one weeks rent may be required to reserve a property, whilst the reference checks are being carried out.

Applicants receiving universal credits, working part time or working on an agency contract or on a zero hour contract for less that twelve months may require a guarantor.

We will then submit an application for reference to our preferred referencing company who will e-mail you an application form for you to fill in. Please note delays often occur due to late replies from your Landlord or Employer etc.

If you are applying for Universal Credits please ensure you fill the forms in correctly to avoid delay.

You will be also be required to bring in your ID and Proof of Address to us so we can verify you and carry out the Right to Rent checks. We will also require you to bring in your last 3 months bank statements and in some cases this may be 6 months.

Where possible we may request a home visit of the property you are living in as this will give us a good idea of how you will live in one of our rented houses.

Upon acceptance from the referencing company we will advise you and our Landlord and will prepare the tenancy file and agree a moving in date.

Starting your Tenancy
Prior to moving in you will receive by e-mail a detailed written and photographed inventory and we ask that you please take your time to check it thoroughly.

Most tenancies are 6 or 12 months, we will contact you and book an appointment for you to come into the office to sign the AST (Assured Shorthold Tenancy) Agreement and all the other relevant documents.

If you require a Guarantor they will also be required to come in and sign a Guarantor Agreement.

You will receive a DVD inventory upon collection of your keys of which we advise that you watch and review the content within 7 days from move in. Any disputes or errors found when checking both the DVD or written/photographed inventories must be notified in writing to Regal Park Property Management.

We will send you a request for your deposit which will be held in our client deposit account and will be secured with the TDS (Tenancy Deposit Scheme). A certificate of confirmation confirming this has been registered will be e-mailed to you.

Your rent and deposit must be paid in cleared funds prior to your tenancy commencing and you moving in. We recommend that your rent payments are made by standing order and must reach our account by your rent due date.

It is your responsibility to notify the utility providers upon move in. We will inform the city council with your details for your council tax bills.

You will be required to have contents insurance in place prior to your move in and this should include accidental damage insurance to cover your landlords fixtures and fittings, such as the oven and hob, bathroom white goods and carpets etc.

During Your Tenancy
During your tenancy members of our staff will carry out quarterly inspections. You will be notified when these are due to take place. We recommend you are present at the inspection, however in the event you cannot be there we will enter the property with the master key we hold giving you 24 hours’ notice. Unfortunately due to high numbers of daily inspections and a busy work schedule we can only carry out inspections during our normal working hours.

We respect our landlord’s properties and that’s why we always act quickly to any calls from you regarding maintenance or repairs. We have a network of experienced tradespeople who will contact you promptly to address your issues.

For routine repairs and boiler servicing we’ll provide you 24 hours’ notice for access. If you are unable to be present one of our preferred tradespeople we collect the master key from us.

Tenancy Renewals
At the end of your fixed tenancy term you may be given the option to renew your tenancy agreement for a further 6 or 12 month’s subject to the agreement of your landlord. A fixed tenancy gives you the security of knowing that you can remain in the property for the agreed term. On a periodic tenancy the landlord can give you two month’s notice to vacate the property and you have to give one months’ notice to leave.

Vacating the property
At the expiry of your tenancy a final inspection of the property will be carried out by us and we will use both inventories as a guide. Please note that the final inspection is carried out when you have vacated the property of which we advise you are present.

Subject to a satisfactory inspection, your deposit will be paid to you within 14 days into your bank account.

Any damages will be reported to the landlord and any disputes will be reported to the TDS.

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