6. Terms and Conditions

6.1 All property rents exclude water/sewerage rates, gas, electricity, telephone and council tax unless stated otherwise.
6.2 All properties are to be let on an Assured Shorthold Tenancy for a 6 or 12 month period unless stated otherwise.
6.3 The granting of a Tenancy will be subject to approved references and in some cases a guarantor may be required.We require references for each Applicant as follows: –

  • Credit history check, bank status check, employer reference and a previous Landlord reference.

To enable us to proceed with your Tenancy and progress our searches you are required to complete the attached application together with our signed Terms of Business and return these immediately with each of the following approved forms of identification: –

  • Drivers licence or passport*
  • Recent utility, council tax or telephone bill* (showing your current address)
  • Letter from your employer confirming salary**, start date and position*

* Faxed or posted copies will be accepted initially but originals must be provided prior to Tenancy commencement.
** Your gross income must be at least 30 times the monthly rental commitment.

A Tenancy Agreement is a legally binding contract and you must be over 18 years of age when signing.
6.4 To reserve your property and remove it from the open market with ourselves we require that you pay the administration fee of £160* (inclusive of VAT) for a sole Tenancy. This is also often referred to as the “Reservation Fee” and holds a property pending payment of the first month’s rent within a further 2 working days.For a joint application a fee of £220* (inclusive of VAT)is required and a further fee of £50* (inclusive of VAT) per applicant after that. Guarantor applications will also require and additional fee of £50* (inclusive of VAT). The administration fee covers such items as referencing and preparation of your inventory and Tenancy Agreement.

Within 2 working days we must then receive the following payments: –

Your first month’s rent*.

All funds must be cleared by the date your Tenancy commences. Therefore any cheque payment for rent or administration fee must be received 10 days prior to Tenancy commencement date.

* Should you withdraw your application for any reason then these payments will not be refunded. If we decline your application due to adverse credit history, adverse Landlord or employment reference or any false declaration the fees and rent will not be refunded. In the event of the Landlord pulling out through no fault of your own we would refund the fees and rent paid.

Your Security Bond is also payable prior to commencement of your Tenancy. This is payable on the day of the ‘Check In’ by bankers draft.
6.5 A security deposit will be required (equivalent to one and a half month’s rent) and is payable to us at the commencement of the tenancy and is held for the duration of your stay at the property. Your Tenancy Agreement will advise what Deposit Protection you are entitled to.No interest is payable whilst the security deposit is held.
6.6 Rent is payable per calendar month in advance by bankers standing order. If a standing order is not arranged with your bank an administration charge will be charged at £35.00 (inclusive of VAT) per monthly payment. We reserve the right to deduct unpaid invoices from the security bond at the end of the Tenancy. Should you not quote the unique Tenant reference given to you then your payment may go unallocated and clause 6.10 may apply. Please ensure your bank quote your reference and realise its importance
6.7 Where there are JOINT tenants, each tenant accepts joint and several responsibility for the payment of the whole of the rent. Should one Tenant leave before the end of the Tenancy they shall be deemed responsible for payment until the expiration of the Tenancy.
6.8 If Asset Residential are managing agents for the property we will contact the Local Authority and each relevant utility company such as Electric, Gas and Water. We will notify them that you have taken over responsibility for the property and payment of their services.
6.9 Cheques and drafts should be made payable to Asset Residential Limited.
6.10 In the event of any late or non-payment of rent an administration charge of £35.00 (inclusive of VAT) will be payable to Asset Residential Limited by the tenants for each instance. If you envisage any instance where the rent may not be paid on time you should contact Asset Residential immediately.We reserve the right to deduct unpaid invoices from the security bond at the end of the Tenancy.
6.11 You may be required under the terms of your Tenancy Agreement to insure the contents of the property against theft, accidental damage and fire. It is important to obtain this information before the signing of the Tenancy Agreement and forward confirmation to Asset Residential Limited.
6.12 Renewal of Tenancy Agreements or the extension of an Agreement on a Statutory Periodic basis will be charged at £35.00 (inclusive of VAT) per Tenancy Agreement. If there have been arrears during the course of the Tenancy at any time we reserve the right to charge our administration fee as per term 6.4 shown above.
6.13 If the situation arises that the tenant vacates the property prior to the end of the fixed term, the tenant shall be responsible for rent until the expiration of the term, or the date on which a new Tenancy commences, whichever is sooner. In addition the tenant shall be responsible for the Landlords agency re-letting fees as applicable at that time (unless a break clause has been agreed).