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  • tenancy agreement,, Aylesbury
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Landlords: Before the Tenancy Starts

Holding fee

When a prospective tenant tells us that they want to rent your property we ask them to provide a holding fee equivalent to 50% of the monthly rental charge. This allows us to mark the property "under negotiation" whilst the tenant is undergoing referencing and we are agreeing a suitable check-in date.

This holding fee is usually used as a part payment towards the first month's rent at check-in, but if after referencing the tenant decides to withdraw their offer then the holding fee may be paid to you in lieu of rent lost whilst the property is being re-marketed.

Referencing and Right to Rent

When we have agreement to proceed with a tenancy, we will take up appropriate references with a professional referencing company. This referencing takes the form of a right to rent check; a credit check; employer’s reference and previous landlord reference, if applicable. If a tenant is self employed appropriate searches are undertaken.

Since 2016 landlords and letting agents working on their behalf have to check the ID of all prospective adult tenants to ensure they have the Right to Rent in England. Substantial fines can be imposed on landlords who let their property to tenants who do not have this right. Our comprehensive referencing process includes this check and where a prospective tenant has a time-limited right to remain we will arrange for follow up checks to be made if required.

We confirm each tenant’s identity by checking and copying two forms of identification. One of which needs to be a photo ID i.e. a passport or driving licence, the other a proof of address i.e. a utility bill etc.

When references are received and are found to be satisfactory we will liaise with you and recommend that a Tenancy be formally granted.

In certain circumstances, e.g. when a tenant is employed but still within their probationary period, we will ask them to provide a guarantor who can pay the rent if they are unable to do so. This guarantor will also be identified and referenced and they will be named on the tenancy agreement as well as signing a separate guarantor agreement.

Please note that when we proceed, we will be doing so without any responsibility for the accuracy of these references or the information contained in them, unless it is due to our negligence or breach of contract. We will not be warranting the tenant as suitable.

Rent Guarantee Insurance

The comprehensive referencing carried out by our third-party suppliers provides you with the opportunity to take out Rent Guarantee Insurance. A policy of this kind will protect you if your tenant stops paying their rent and will also provide legal cover and assistance if you needed to regain possession of the property due to rent arrears.

Sadly, sometimes tenant's circumstances do change during the tenancy and taking out rent guarantee insurance gives you the peace of mind that should this happen you will be covered.

Withdrawal from agreed offer

If a formal offer has been made by a prospective tenant and we receive notification from you that you wish to proceed, it may not be possible to withdraw your agreement subsequently, particularly if the tenant has already given notice to their current landlord. If the tenant agrees to your request to withdraw, you should expect to meet the tenant's reasonable costs and expenses, together with the costs incurred for referencing and our marketing and administration to date.

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