TENANT'S INFORMATION GUIDE
This information guide has been produced to inform all prospective tenants of the requirements and procedures necessary to secure and subsequently move into one of our properties.
HOW TO TAKE A PROPERTY APPLICATION & REFERENCING: Once you have found a suitable property to rent you will be asked to complete an application form. We will then process your application using a reference agency who will obtain information on behalf of our client, the landlord. On receipt of a fully completed application form, original identification documents, current proof of address and a non refundable holding payment of £195.00 to indicate your commitment we will then proceed with the referencing procedure. Please note that payment does not constitute a Tenancy or offer a Tenancy but is solely to cover administration costs and is non refundable should your application be unsuccessful or you withdraw, for any reason. All paper work to assess your application must be provided to our office within 3 days of the holding deposit being paid. During this time we will be taking up references, before proceeding with the Tenancy. Bank references, employer references, suitable character references and previous landlord reference(s) will all be required. A credit search will be carried out on all applicants at this stage. Other fees are £74.95 per additional applicant, £99.50 for a Guarantor (if one is required) and £199.50 fee if it is a company let. You will require a Guarantor if you have not rented before, not held a permanent employment position for 3 years or your income falls short of our affordability criteria. The guarantor(s) will also need to complete an application form, as they will also sign the Tenancy Agreement along side the applicant(s). MOVING IN DATE Only when acceptable references have been received and approved will we contact you to arrange a mutual moving in date and time. The moving in date will have a specific time for all tenants and the guarantor (if applicable) to attend the office in order to sign tenancy agreements, Inventory and Schedule of condition and pay all the monies in advance. Please keep to your appointment time as if this is not kept to it could delay you moving in on the appropriate day. All contracts commence on either the 1st or 15th of each month, this is for accounting and administrative purposes. However, properties can be released in-between such dates and a payment to or forth will be agreed.
MONIES PAYABLE IN ADVANCE All monies payable in advance can only be accepted either by cash, banker's draft or a Credit/ Debit Card. This must be paid prior to the moving in date and failure to do so may delay your moving in date. Monies payable in advance consist of the following: • First month's rent • WLYP Cover/NDDS • Refundable fee of £100 for utility change over • Administration charges • Tenants contents insurance premium (if requested)
THE WLYP MEMEBERSHIP OR 'NDDO' (A NON REFUNDABLE PRODUCT) At the discretion of management we are able to offer our professional working clients a no deposit down option. Whereby you are not required to pay a substantial deposit. We are pleased to confirm the scheme was founded by our group in 2009 and continues to attract an overwhelming level of publicity and support from the media and clients alike. The scheme attracts a starting fee of £395.00 dependent upon our unique credit scoring system. It is payable to WLYP on the commencement of the initial contract and continues to run for the duration of the contract you have agreed with us. Unlike other products it is with you as individual and not the property. Therefore, providing the opportunity of being versatile and the perfect aid in making that first move. Over 1,000 clients have been enjoying the benefits of this product since 2009... just some of the benefits include: fast track move in process, faster repairs via our approved list of contractors, this product is with you for life and moves with you, no cumbersome administration charges, no lengthy legal disputes & we are happy for you to move to alternative Group properties after 12 months and once every two years. Finally, if you purchase a property through our Group we will offset the fee against our professional sales fees.
RENT PAYMENT All rent is payable in advance by standing order. Should any action be taken by WLYP for late or non-payment of rent a charge will be levied. Your rent will normally become due on the date your tenancy commences, and on the same day of each subsequent month thereafter. Should the rent remain unpaid an administration charge of £80.00 + VAT will be charged to tenants initially and is increased should the rent remain unpaid. Tenants are jointly and severally responsible for all rent of the whole property for the whole period. Should you experience any financial problems during the course of the tenancy it is essential that you contact WLYP immediately. Failure to pay rent in all cases will lead to civil prosecution and a county court judgment made against you with an earnings attachment order. This will effect your credit rating. Short hold tenancy contract renewals are provided at the discretion of WLYP at a cost of £100.00 (12 month contract) or £75.00 (6 month contract). Please reference all payments to our company with your property address.
BUSINESS BANK ACCOUNT FOR PROPERTY RENTALS ONLY: MAIN OPTION!
IF PAYING ON LINE OR BY STANDING ORDER:
A/C Name : WLYP.CO.UK Sort Code : 40.42.11
Account : 91459163
IF PAYING BY CASH AT A HSBC BRANCH/ TEXT & ADVISE ON 01215259090 (option 4).
A/C Name : WLYP.CO.UK (SINGH) Sort Code : 40.42.11 Account : 61131230
THE INVENTORY/ SCHEDULE OF CONDITION & CONTRACT RENEWALS An inventory of the property contents, furniture and fittings with a schedule of condition will normally have been prepared. This will be checked and agreed with you at the commencement of your tenancy and a charge may be made to you for checking of the inventory at the start of the tenancy. At the end of the tenancy the inventory and schedule of the condition will be checked again, any cost of which is borne by your landlord. It is important that you take care in agreeing the inventory and schedule of condition as this document will form the basis of any dilapidation claim by your landlord at the end of the tenancy. In your own interests we strongly recommend that you are present at the both check-in and check-out. Contract renewals are carried out every six months or twelve months. All contracts are issued for a fixed term period as stipulated by the current legislation to protect both the tenant and landlord. If the tenancy is upheld professionally without any default an automatic renewal will be processed at £75.00. Asif Kola is the contracts renewals manager at HQ in West Bromwich and contactable via email firstname.lastname@example.org or on 0121 525 9090 (option 2 & option 4). Please note that it is your responsibility to renew your contract early and benefit from the discounted fee. You will need to attend our office with a pre agreed appointment.
TENANTS OBLIGATIONS You should be aware that the responsibility for the property rests with the tenant during any tenancy. It is particularly important that when you are absent from the property at any time it is fully secured and that during Winter months the necessary steps are taken to prevent freezing of the water and heating system. In leasehold premises, mainly flats and maisonettes, the tenant will be bound by the rules and regulations affecting all residents within the block contained in the head lease. Tenants contents insurance is a mandatory condition of the tenancy agreement.
THE AGENT'S OBLIGATIONS The obligations of WLYP will vary depending on which of the following services we provide for the Landlord: a) Let only service for the property b) Full management of the property c) Let, rent collection & forwarding only d) Platinum management of the property You should be advised which of the above apply prior to your tenancy commencing but should you need further details regarding a specific property please contact your local branch of Love Your Postcode.
KEYS WLYP or the Landlord may hold additional keys to the property. Under no circumstances are keys posted out for any of our properties. It is the owners responsibility to come into our head office and collect keys, once the key register is signed. All keys will be disposed off securely after 4 weeks of any contract cancellation.
PROPERTY INSPECTIONS All properties managed by WLYP will be subject to regular visits. The purpose of these is to check the condition of the property, its cleanliness, garden maintenance and the way in which the tenancy is being conducted generally. A mutually agreeable appointment will always be made in advance with the tenant. Please note that a charge will be made to the tenant for any abortive visits of £50.00 + VAT.
UTILITIES Once a Tenancy Agreement is signed you will need to contact the gas, electric and water companies. Where a property is managed by WLYP, meter readings will be taken at the check-in and check-out.
COUNCIL TAX It is the tenant's responsibility to pay the Council Tax direct to the local authority. In the case of students where they maybe exempt from payment of council tax it is their responsibility to inform the local authority.
INSURANCE The tenant is responsible for insuring their own personal affects and furnishings. As noted above adequate tenants contents insurance is a mandatory condition of the tenancy agreement. We are able to provide you with a quotation for tenants contents insurance prior to moving in.
PROPERTY MANAGEMENT ISSUES/ BREAK DOWNS You will need to call 01212855005 (option 2/ option 2) or email email@example.com. Please do not call any other option, you will be transferred back to this option.
THE RENTAL PROCESS EXPLAINED. What rent can I afford? There is an affordability criteria you need to adhere to before viewing a property. Below is an affordability guideline:
Rent PCM/ Required Salary per annum
£350/ £12,000 - £13,500
£450/ £13,500 - £15,000
£500/ £15,000 - £16,500
£550/ £16,500 - £18,000
£600/ £18,000 - £21,000
£700/ £21,000 - £24,000
£800/ £24,000 - £27,000
£900/ £27,000 - £30,000
£1000/ £30,000 + £1500
£45,000 + £2000/ £60,000 +
Do I meet your criteria? To view/secure any of our properties you must match the criteria below: •Be in full time permanent employment •Meet 'Affordability Criteria' •Applicants over 21 years old How to secure a property for rent Now that you have found your perfect home you must pay an administration fee and fill in a Tenant Application Form. Please note you must also bring with you the following documentation: •Two utility bills from your current address •Photo ID (Passport or driving license) •Three months of bank statements/ Saving account details •Three months of recent pay slips or a balance sheet from your Accountant •Proof you have the legal right to reside within the UK
Why do I need to be referenced? Every tenant over the age of 21, entering one of our properties must be referenced to ensure they can meet our criteria e.g. affordability of the rent. Once the application paperwork has been completed and the relevant documentation proof provided the referencing process will be initiated. All of our references are done by a company called Rent Shield Direct. The reference procedure will look at the following: •A Credit Assessment •Employment History •Proof of Residence
Why do I need a Guarantor? If your reference comes back and we require a guarantor, this simply means that your credit assessment has not met out criteria therefore we need someone to guarantee that we will receive the rent. This person can be a friend but is usually a relative and must earn in excess of £21,000pa. They will be referenced and will then be held liable if rent is not paid to us.
What happens on property inspections? A property visit will take place approximately once every 16 weeks and the first inspection is within 6 weeks of moving in. It is to ensure that you are keeping the property to a good standard and also to address any concerns. A property visits takes approximately 15 minutes dependant on the size of the property. A property manager will look in every room and outside, will write down any details of issues speak with you and give you a copy of the property visit report. You do not have to be present for the property visit. You have certain responsibilities when you have secured a property. •Have insurance that covers the Tenants and Landlords contents with proof being provided on day of move in. •Pay all Utility bills such as Gas, Water, Electricity, Telephone and Council Tax. •Allow regular inspections of the property. •Report any maintenance and repair issues.
What do I do if I have a maintenance problem? You need to contact us primarily as the managing agent for the property and we will liaise with the landlord and contractors regarding any work to be done. Your property manager will contact you to discuss arrangements for the any work to be done. The property management team have a specific dedicated telephone line monitored from 9am to 5.30pm. Telephone 01212855005 (option 2 & option 3) or you can email firstname.lastname@example.org. Please do not call our sales or lettings branches to leave a management issue. These teams are not responsible for resolving rental post contractual obligations.
What happens if i have an emergency? We understand that you may need to contact us in case of an emergency. We therefore have some contractors who will be available for emergency repairs, their contact numbers are as follows:
Plumber/ Pete of PHS on 07956360942
Rob Emergency Locksmith on 07949149587
Emergencies are: . No heating (when temperature is sub zero) . No water (please call Severn Trent Water first on 0800 783 4444) . Burst pipes/severe leaks . Where the property is not secure Please note that if it is not a genuine emergency and is a routine repair, you may be held liable for the cost conducted during this time.