INFORMATION FOR PROPOSED TENANTS
Permitted Payments and Tenant Protection Information
As well as paying the rent, you may also be required to make the following permitted payments.
For properties in Wales, The Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments
- Holding deposits: Equivalent to 1 weeks rent, to reserve the property during the reference process. This deposit can be retained if the tenant provides false or misleading information to the letting agent/landlord, fails a Right to Rent Check or if the tenant decides to withdraw before the Deadline for Agreement. However, once a successful reference has been obtained, the holding deposit will be put towards the first month’s rent.
- Security deposits; A Security deposit is equivalent to 5 weeks rent.
- Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services (telephone, internet, cable/satellite television), TV licence, Council tax (payable to the billing authority)
- Release fee for ending your tenancy early (if agreed): £150.00 for managed tenancies and £250 or 1/2 a month’s rent (whichever is the greatest) for let only tenancies (rent is required until the new tenancy starts).
- Late/Unpaid Rent – Payments for the late payment of rent; Rental payments overdue by more than 7 days will be subject to interest at the rate of 3% over the Bank of England Base Rate calculated from the date the payment was due up until the date payment is received
- Loss of keys/security devices – Tenants are liable for the 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 for the time taken replacing lost key(s) or other security device(s).
- Early release – Early release fee for ending your tenancy (if agreed with landlord): £150.00 for managed tenancies and £250.00 or 1/2 a month’s rent (whichever is the greatest) for let only tenancies (rent is required until the new tenancy starts).
- Wasted Pre arranged contractor/staff visits- £35.00
Samuel Francis & Co is a member of the Property Ombudsman, which is a redress scheme and licensed under Rent Smart Wales number #LR-75000-75052.
Referencing Process & Right to Rent Checks
A Pre-Tenancy Questionnaire is supplied prior to ordering referencing. You will be required to supply information regarding employment status, income, credit information, most current landlord details, proof of address, original photo I.D, pet and smoking status.
On supplying this information, you will be authorizing Samuel Francis & Co to pass your details onto a third-party reference company. There are no fees connected to the tenant for the referencing process.
If a guarantor is required, which may not become apparent until your referencing has been completed; they will need to complete an application form. In addition, provide photographic identification and proof of residence, along with standard referencing which covers employment status and salary checks, confirmation of previous tenancy details, right to rent checks, and credit history. There is no charge relating to this.
A holding deposit is taken in order to secure the property during the reference process. It also serves as a guarantee to the tenant that the landlord will hold for them pending a successful reference. This is payable in advance in Cash, bank transfer or cleared funds if paid by personal cheque. The company bank details will be passed to tenants prior to move in.
A Holding Deposit is equivalent to 1 weeks rent. Calculation – Monthly rent divided by 4.35
This can be retained if the tenant provides false or misleading information to the letting agent/landlord. The letting agent/landlord is reasonably entitled to consider in deciding whether to grant the tenancy as a result.
If the tenant decides to withdraw before the Deadline for Agreement.
If the tenant fails to take all reasonable steps to enter into a tenancy agreement by a given date
However, once a successful reference has been obtained, the holding deposit will be put towards the first month’s rent
On receipt of a successful reference, a suitable move in date is agreed, the tenancy agreements prepared along with a full inventory recording the condition of the property.
When a Tenancy has been granted, the necessary monies, as listed below, must be paid by cleared funds, by the agreed moving in date.
First Month’s Rent: Payable in advance in either Card, bank transfer or cleared funds if paid by personal cheque. The company bank details will be passed to tenants prior to move in.
Deposit: Equivalent to five weeks rent. Payable in advance in either cash, bank transfer or cleared funds if paid by personal cheque. The company bank details will be passed to tenants prior to move in. The deposit will be returned at the end of tenancy, providing there is no breach of tenancy as stated in the tenancy agreement, no outstanding rent or bills, and the property is clean and tidy with no damage above wear and tear.
If the property is managed by Samuel Francis & Co the deposit is protected under a government authorized scheme, DPS (The deposit Protection Service).
Should you require any further information, please contact: The Rental Department on 01446 731188 or e-mail dan.watts@samuelfrancis property.co.uk