Luxury London Real Estate

Tenants

Renting property is an attractive option for many people for many reasons. Renting a home affords a more flexible, lifestyle and less responsibility. We will do our best to find a home for you and make the process of renting easy and straightforward.

For that reason it is important you give us as much information as possible at early stages of search so we can assist most efficiently.

Please let us know:

  • What are you looking for (flat/house, number of bedrooms/bathrooms, furnished/unfurnished)?
  • Who is to reside in the property?
  • When do you need to move in?
  • How long you are looking to rent for?
  • What's your maximum budget?

A Negotiator will then search our property database including other agent's properties matching your search criteria and email you a list of property details for you to see photos and a description. Once you have decided which properties you would like to visit, we will arrange a convenient date and time to view the properties with you. We advise arranging your viewings as soon as possible as the property market is fast moving and properties let very quickly.

When you have found a property you would like to rent we will put an offer forward to the Landlord. Please be aware of the following:

Show all

Tenants Charges

As well as paying rent as agreed, you will also have to pay the following before the tenancy starts:

  • Deposit (usually equivalent to six weeks' rent)
  • Tenancy Agreement fee (£250 inclusive of VAT)
  • Reference fee (£45 inclusive of VAT per tenant)
  • Bank reference fee (refer to your bank as charges vary)
  • Deposit protection (£28 per annum inclusive of VAT)
  • Stamp Duty (if your residential lease is for more than £125,000, you'll pay 1% SDLT on the amount above the £125,000 threshold)

Reservation Fee

In order for us to secure the property for you, we will request 2 weeks Reservation Fee. Upon receipt of the Reservation Fee, we shall withdraw the property from negotiations with any other interested parties, cease all viewings, and remove the property from the market.

Please note that the Reservation Fee is non-refundable - if you withdraw from the negotiations regarding the letting of the property - or if you fail to produce satisfactory references upon request.

If the landlord withdraws from the letting of the property, the reservation fee will be refunded to you in full. The Reservation Fee does not grant you a tenancy agreement and is taken merely to confirm you are genuine about your offer. This will be included in your first statement of account.

Rent and Lease

Rents can be advertised weekly or monthly but are usually payable monthly, quarterly, six monthly or yearly in advance. Please note that the rent does not usually include the utilities, i.e. gas, electric, water, council tax, television license, or internet charges. The minimum term for a long-term agreement is six months; in most cases properties are rented on an annual basis. If required a Break Clause and/or option to renew for a further term can be inserted in the contract, subject to negotiation. This is a general condition to have an annual rent increase in line with RPI (between 4% and 8%, these figures may vary) if you are willing to rent a property for longer than one year.

Once the landlord has accepted your offer and all terms and condition are agreed, BSE Mayfair will proceed with preparing the tenancy paperwork which includes:

References

We will ask you to provide the following references:

  • Proof of Identity (passport/drivers licences etc...)
  • Bank Reference
  • Current Employer/Accountant (If Self Employed)
  • Education Provider (for students)
  • Previous Landlord/UK Character Reference
  • Relevant references as above for a Guarantor* (if applicable) — *The Guarantor will need to be UK based, and should be able to guarantee payment of the rent and any other liabilities under the Tenancy.

In most cases we would ask you to fill in a reference form from an independent referencing company who will be contacting your provided referees for necessary proof.

Holding Deposit

It is common practice for a Landlord, or their Agent, to take a Holding Deposit from a Tenant (which is normally an amount equivalent to six weeks of the agreed rent) as a safeguard should problems occur during the tenancy and if you breach the terms of your contract e.g. failure to pay rent or if you cause damage to the property.

Within 30 days of receiving the deposit, the Landlord/Agent will lodge your deposit in an authorised Deposit Protection Scheme. This legislation was introduced to help ensure that tenants are able to recover their deposit at the end of their tenancy less any amount that the Landlord, or their Agent, can prove a legal entitlement to withhold. In addition, the Landlord/Agent must provide you with details of the authorised scheme under which the deposit is protected and what to do if there is a dispute.

You should keep a signed copy of the Deposit Protection Certificate safely with your copy of the Tenancy Agreement and other documents relating to your tenancy. You will need them if a dispute arises at the end of the tenancy.

Tenancy Agreement and Statement of Account

BSE Mayfair will provide tenancy agreement which will need to be signed prior to the start of the tenancy. Please note that this is a legal agreement between yourself and the Landlord, we would recommend that you thoroughly familiarise yourself with the terms of your Tenancy Agreement before signing it. If necessary take legal advice. You will also be provided with a Statement of Account, which is an invoice detailing the initial monies due to be paid in cleared funds prior to your move in. Please note that keys will not be released until the fees are paid in full.

BSE Mayfair will endeavour to make your move smooth and hassle free.

Please find below further information for your attention:

Inventory and Professional Clean

Prior to your move in, the Landlord or Landlord's Agent will arrange for an inventory and the professional cleaning of the property. An inventory of the contents and condition of the property will be prepared by an independent inventory clerk. The cost of the inventory along with professional pre-tenancy cleaning is generally covered by the Landlord.

Please note that the property will need to be returned to its original condition as taken. Therefore, professional end-of-tenancy clean and inventory checkout will have to be arranged at the end of the tenancy. Usually, the tenants are responsible for these costs, in some cases these can be deducted from your Holding Deposit.

Property Certificates

The Gas Safety (Installation and Use) Regulations 1998 stipulate that all gas appliances must be inspected annually by a Gas Safe Register — registered engineer. A valid Gas Safety Record must be issued each time and updated every twelve months and a copy will be provided to you by your Landlord or Landlord's gent within 28 days of the certificate being carried out.

An EPC is a legal requirement for any new tenancies that details the energy performance of a property. From 1st October 2008 the law requires for a prospective Tenant to be provided with an Energy Performance Certificate (EPC). It is carried out by an accredited Domestic Energy Assessor to ensure it meets all legal requirements and is valid for 10 years.

Utilities

The gas, electricity and water services as well as the telephone line are required to be transferred into your name at the commencement of the tenancy. To do so you should contact the service provider.

The Tenant is responsible for paying the TV licence fee in respect of the use of any television set(s) in the premises during the tenancy.

The local council tax authority is advised at the commencement of your tenancy. Paying Council Tax is your responsibility.

Property Management

If BSE Mayfair is the Managing Agent for the property you are renting, we will provide you with a contact list of local services in case of emergencies relating to your property. For anything else you can contact us directly. We will try to resolve any issues as soon as and as efficiently as possible. If the property is being managed by the Landlord or another managing agent you will be promptly provided with their contact details.

Please contact our office for further information. We are here to assist.

BSE Mayfair is a member of The Property Ombudsman Scheme for Letting Agents and will comply with the Scheme's Code of Conduct (full details can be found at www.tpos.co.uk).