Application for tenancy
Upon the prospective tenant(s) finding a property they wish to rent from Lancashire Lettings an online application form must be completed and the prospective tenant(s) must undergo a referencing process which includes if applicable a financial credit check, current / previous property checks, employer references, landlord references and a right to rent check.
Holding Deposit
A holding deposit of no more than 1 weeks rent will be taken to reserve the property whilst the referencing process is being carried out. This amount will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy application, fail a right to rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and or deed of Guarantee) within 15 calendar days (or other deadline for agreement as mutually agreed in writing).
Referencing Process
Once the Holding Deposit is paid you will receive an email link from VOUCH this is the referencing company we use. The property will not be viewed by any other person. The property will continue to be marketed but NO viewings will take place. All applications are carried out online.
The property continues to be marketed in case you decide for any reason not to take the property. Once the referencing process is complete we will require the Deposit to be paid in full within 24 HOURS of notification. Once the deposit is paid the property will be completely withdrawn from the market. The property will be shown to further potential tenants in the event the deposit is not paid within the required timescale.
Tenancy Agreement
On completion of satisfactory references we will arrange for a move in date and for all parties to sign the tenancy agreement. The tenancy agreement will be signed by E-Signature via a Computer, Tablet or Phone. This makes the process much quicker and easier.
It is extremely important that you read your tenancy agreement carefully before signing. Once the tenancy is signed you will be legally committed. Please advise a member of the team if you require any explanation of the terms or clauses contained in the agreement.
All tenancy agreements are for a minimum period of 6 months and are renewed on a 6 monthly basis. Longer periods of tenancy agreements are arranged at the landlords discretion.
Renewals & Property Inspections
You are contacted 2 MONTHS prior to the tenancy end date to arrange a tenancy renewal or to begin re-marketing of the property if the you wish to vacate the property at the end of their contract.
The property is inspected 2 months prior to the tenancy end date by a member of our team and a tenancy renewal is signed for a further period at the property (subject to 6 months minimum contract).
Rent and Deposit
Deposit
The security deposit is the equivalent to 5 weeks rent. The deposit must be paid within 24 HOURS of the completion and notification of the referencing process. The Deposit will be protected and held with the Deposit Protection Service as per government legislation. In the event the landlord manages the property themselves they would protect the deposit in an appropriate scheme of their choosing. This deposit amount is returned to you at the end of your tenancy agreement as long as there no deductions to be made for damages or rent arrears etc.
Deposit Replacement Scheme
Alternatively you use the DEPOSIT REPLACEMENT SCHEME instead of paying a traditional security deposit. The cost is an initial payment of 1 WEEKS RENT will be due once your referencing is complete and is paid directly to the company that provides this cover (REPOSIT). There is also an ANNUAL administration fee of £30 which is payable to REPOSIT on your tenancy renewal date.
THE DEPOSIT REPLACEMENT SCHEME COSTS ARE NON REFUNDABLE SO IF YOU WOULD PREFER TO PAY THE NORMAL DEPOSIT AMOUNT OF 5 WEEKS RENT THEN YOU HAVE THIS OPTION. Further details can be seen on the following website. https://reposit.co.uk/tenants/
Rent
At least 48 HOURS before the tenancy is due to commence we would require the first month’s rent to be paid. Future payments will then be collected by standing order. Lancashire Lettings will arrange for the standing order to be set up.
Rental Payments
Rental payments are due on the due date unless this falls on a Weekend date or Bank Holiday when the rent will be paid automatically on the next working date.
A Standing order is initially set up by Lancashire Lettings to receive the rental payment on the due date (or next working day if this falls on a weekend date or bank holiday). This standing order should NOT be cancelled during the term you are responsible for rental payments.
Early Tenancy Termination
Where a tenant wishes to terminate their tenancy before the agreement end date they will be subject to paying the landlords set-up fee. (Early termination can only be granted if a new tenant is obtained by the agent to replace the existing tenant. The tenant is responsible for all due rent, associated utility charges and council tax up until a new tenant starts a new tenancy at the property.
Documentation
Where we can we use E-signature documents that can be signed from your Computer, Tablet or Phone. This makes the process much quicker and easier.
Lancashire Lettings are an accredited member of the UK Association of Letting Agents (UKALA), members of a redress scheme named The Property Redress Scheme (PRS) and hold Total Loss Client Money Protection Insurance.
TENANT FEES
Referencing Fee
We do NOT charge any fee for referencing.
Variation of Contract (Tenants Request)
£25 (Inc vat)
Where a tenant wishes to amend a tenancy agreement (for example adding or removing a tenant from the tenancy agreement) at their request a fee will be charged to cover the costs of preparation and execution of new legal documents.
Early Tenancy Termination
£132 (Inc vat)
Where a tenant wishes to terminate their tenancy before the agreement end date they will be subject to paying the landlords set-up fee as well as all due rent up until the start date of the replacement tenancy. (Early termination can only be granted if a new tenant is obtained by the agent to replace the existing tenant).
Holding Deposit
A Holding Deposit of no more than 1 weeks rent will be taken to reserve the property whilst the referencing process is being carried out. This amount is deducted from the due Tenancy Security Deposit or the First Months Rent if using the Deposit Replacement Scheme.
This amount will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy application, fail a right to rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and or deed of Guarantee) within 15 calendar days (or other deadline for agreement as mutually agreed in writing).
