What you need to know as a potential Tenant
All persons aged 18 years and over who will occupy the property must be named as a tenant on the tenancy agreement. Each tenant will be assessed for an equal share of the total rent payable for the property, with the exclusion of dependents who bare no financial commitment.
When applying to rent a property the Tenants agree to be bound by the terms contained within the Tenants Terms of Tenancy and Associated Fees document. These are outlined below.
In order to proceed with an application to rent a property, each tenant must complete an application and reference form. We use an external referencing agency who will email you all the relevant paperwork to be completed and returned, although this is usually done online. We will also require two forms of suitable ID. Passport, Driving Licence, Utility Bill etc.
If you wish to proceed with a rental after viewing the property we will take one week’s rent to reserve the property and remove it from our availability list.
Please note, this fee is non-refundable should any of the four below situations occur:
- You fail to provide the necessary Right to Rent documentation before the agreed deadline.
- You fail to complete your references and sign the tenancy agreement before the agreed deadline.
- You provide false or misleading information to OASiS Estate Agents or the landlord. If this occurs the landlord is reasonably entitled to take into account the difference between the information provided by you and the correct information in deciding whether to grant a tenancy to you and is reasonably entitled to take your action in providing false or misleading information into account in deciding whether to grant such a tenancy.
- You wish to withdraw from the let or we receive unsatisfactory references. Acceptance is subject to contract and acceptable references.
In some instances, you may require a suitable guarantor in order to pass your references. An additional fee is due in order to proceed with the guarantor application. The Guarantor must also provide us with two forms of ID. Should the Landlord be happy with the concluded references the guarantor will be required to sign a copy of the Tenancy Agreement and will be bound to the terms of the agreement.
REFERENCES: You are required to provide satisfactory references within the agreed timeframe when renting a property. Failure to supply the required information will result in the application being rejected and the preliminary payment being forfeited.
Before a tenancy commences, Tenants are required to pay a security deposit equivalent to five weeks worth of rent. The deposit is held against any damages or expenses arising during a tenancy and will not be released until after the tenants have vacated the property and all rent has been paid up to date.
Inventory, Check-In and Check-out of the Property (tenancies entered into before the 1st June 2019)
There will usually be a check-in inspection of the property with an independent inventory clerk at the commencement of the tenancy. The cost for this is paid by the Landlord. The Inventory and Check In report records the condition and contents of the property at the of the tenancy commencing. The checkout is carried out at the end of the tenancy and the cost of this is paid by the tenant.
EARLY TERMINATION/DEED OF SURRENDER:
A tenancy agreement is legally binding for the agreed stated period and you are liable for the rent and utilities during this term. Any requests to break your agreement must be provided in writing and are subject to approval from the landlord. If the landlord agrees to release you from the tenancy, one of the following will apply:
- You will be liable to pay the rest of the rent due for the remaining rental period upfront before the deed of surrender paperwork will be provided.
- You will be liable for the landlord’s remarketing costs and agency fees associated with finding a new tenant and all outstanding rent until the new tenant moves in. Deed of surrender paperwork will only be provided once the landlord’s fees are paid by yourself, all outstanding rent has been settled and the new tenant has signed the tenancy agreement and given consideration. These costs are:
- Landlord administration- £390 inc. VAT
- Reference for new tenants- £72 inc. VAT per tenant, £90 inc. VAT per guarantor
- Check out/Check in Fee- Between £134-£300 inc. VAT dependent on property size and furnishings
Tenants are responsible for all utilities unless otherwise stated which include Gas, Electricity, Water, Council Tax, Telephone and TV Licence charges. Whilst we endeavour to provide these companies and Council with the Tenants details once the tenancy has commenced, it is the responsibility of the tenant to ensure that these are in place.
The Landlord is responsible for having Building Insurance and Insurance for his own belongs and contents, but not the tenant’s belongings. We highly recommend tenants take out the appropriate insurance, which includes third party cover.
Renewal of your Tenancy (tenancies entered into before the 1stof June 2019)
In most cases, OASiS will approach the Landlord and the Tenant, approximately two months prior to the end of the Tenancy in order to ascertain whether both parties wish to renew their tenancy agreement. If the term of the original agreement is extended there will be a charge of £120 inc VAT to cover the cost of preparing documentation, for each and every extension or renewal.
Please note, this fee does not apply to tenancies entered into after the 1stof June 2019.
Terminating your Tenancy
Your tenancy agreement will outline how and when a Landlord and Tenant are able to serve notice to either party. In most cases each party will need to give two months’ notice. If the tenancy becomes periodic then the tenants are required to give one months’ notice to expire on the last day of the rental period and landlords remain at two months’ notice which can be served at any time.