The first step is to contact us to provide brief details about yourself and about the accommodation you require. We will ask questions about yourself, your position and what you looking for, we will then search our database for suitable properties for you to view. If the property is not needed at that time, we will record your details so that we can contact you as suitable properties become available. It is wise to start looking about two months before you wish to move, to ensure you find the property that's right for you.
We will always try and arrange viewings where possible for times to suit you, including evenings and weekends, and you will invariably be accompanied by a member of staff, who can give advice and answer any questions you may have.
Reserving the property
Once you have decided on a property, you will need to pay a non refundable holding deposit, usually of £300.00 preferably by bank transfer, card (card fees apply), cash or a cheque providing it clears quickly. In addition you will have to pay the reference fee cost with the holding deposit. Assuming that the tenancy goes ahead, the holding deposit will be deducted from the monies due before you move in. If the landlord declines to grant the tenancy, the holding deposit will be refunded in full. However the deposit will be forfeit if you decide not to proceed for any reason, or if you fail to provide complete and accurate information in your application.
As a minimum we will require satisfactory references from your employer, and a previous or current landlord. We may also require a personal reference, and sometimes a guarantor in certain circumstances; in addition a credit check will be undertaken plus another checks. We use Homelet, an independent referencing company to carry out the referencing. Each applicant over the age of 18 will need to be referenced at a cost of £25.00 + VAT per person, a short form usually by email will be sent to you to complete when the holding deposit is taken. If the tenancy does not go ahead for any reason and the reference forms have been submitted to the referencing company, reference fees are non refundable.
Rents are normally quoted calendar monthly and payable monthly in advance and normally set up by standing order at the beginning of the tenancy. The tenant is responsible for Council Tax, Water Rates, Gas, Electricity and Telephone costs unless arranged differently before the start of the tenancy. All rents are payable by bank standing order to our company bank account, all utility companies and council tax departments will be notified by us at the start of the tenancy.
A security deposit of a minimum of one month and half of the rental amount must be paid, and will be held with the government authorised custodial scheme Deposit Protection Services (DPS). This is held to cover damage, breakages, and any other liabilities under the terms of your tenancy agreement. Please note that under no circumstances can the deposit be used by the tenant to cover rent.
Lakin & Co are able to offer a range of insurance policies for Tenants;
Contents up to your selected sum insured for damage to your household furniture, equipment, furnishings, clothing and personal possessions whilst in your home.
The policy will cover accidental damage to landlord's contents and fixtures and fittings for which you are responsible.
Personal Possessions up to your selected sum insured for loss or accidental damage to your clothing, watches, jewellery, spectacles, other valuables whilst away from your home anywhere in the UK or whilst temporarily elsewhere in the world. Further details are available on request.
Fees & Further Tenancy Information
Please find a break down of our fees and further tenancy information below;
Non-Refundable Holding Deposit £300.00 (On account towards your initial rent)
Referencing Fee £25.00 + VAT (Per applicant over the age of 18)
Tenancy Admin Fee £100.00 + VAT (Per applicant over the age of 18)
Dilapidations Deposit (Month and a half of rental amount)
Rent (First Months Rent Paid In Advance)
Checkout Fee (£95.00 inc VAT (Payable at end of tenancy)
As already explained above you will be required to pay a holding deposit of at least £300.00; this is used to secure the property while we undertake your referencing checks. The holding deposit will need to be paid promptly along with the referencing fee/s should you wish to proceed with the tenancy application. We will not proceed with any application until such monies have been received.
Referencing & Fees
We use an external referencing company to carryout the referencing check independently and which have a set of criteria that need to be met in order to approve the referencing application as acceptable for tenancy.
Each tenant over the age of 18 will need to be reference checked, some of the checks among others will usually include,
- Credit checks
- Employment reference
- Accountant reference
- Landlord / Managing agent reference
- Bank validation check
- Affordability check
If you would like more information on the checks we carryout please do not hesitate in contacting us.
Tenant/s will need to be earning a joint income of at least a multiple of 30 times the rent
Where this is not possible rent may sometimes be paid in advance.
Where a guarantor is required the tenant referencing fee per tenant applying for the property includes the cost of referencing the tenant's guarantor also. However, where a second guarantor reference application is required for the tenant a further reference fee will need to be paid. i.e. where the guarantor fails the referencing application. Guarantors will be required to meet the affordability criteria of at least 36 times the rent.
Tenancy Administration Fee
In order for us to provide our service, we require a tenancy administration fee to be paid. This fee is £100 + VAT per tenant named on the contract as a tenant or for a tenant we are reference checking. Occupation will not be granted until all fees and monies are paid and the fee is non negotiable.
As a minimum we require at least 1.5 times the rental amount as a dilapidations deposit. This is usually held with The Deposit Protection Service (DPS) however some landlords may hold the deposit themselves or under a different approved scheme. Information on where your deposit will be held will be provided to you and stipulated in your tenancy agreement.
Prior to the tenancy commencement a minimum of a first months rent is required to be paid in advance to us as the agent of the landlord. Rent where agreed maybe paid in advance for the term of the tenancy.
At the end of the tenancy a checkout fee is required to be paid. Usually this would involve the independent inventory clerk carrying out this checkout with you present.
The non refundable holding deposit will not be refunded save in the case where the landlord no longer wishes to proceed with the tenancy.
Where tenants and any guarantors have failed the referencing checks the holding deposit will be refunded less an administration charge of £100 + VAT per person being reference checked.
We are able to take some payments over the phone by card, please note card charges apply. Should you wish to pay money by card please enquire about the card fees and one of the team will advise you before taking nay payment from you.
Where a pet is permitted by the landlord in the property and usually by way of license, there may then an increased deposit amount required (usually two times the monthly rent as a deposit). Additional cleaning or fumigation clauses requiring this may also be required.
Inventory & Check in
At the start of the tenancy there will usually be an independent inventory check in with the inventory clerk who will release keys to you, take meter readings and go through their inventory / schedule of condition report findings.
Tenant Contents Insurance
Some landlord may stipulate that a tenant contents insurance policy will need to be in place prior to occupying the property. We strongly recommend your take out adequate contents insurance.
We are able to quote you on your contents insurance and should you wish for us to do this please ask one of the team.
We regret that we currently do not have any landlords that permit housing benefit or housing association tenants
Should you have any queries or would like further information, please do not hesitate in contacting our offices
Tenancy is always subject to referencing and subject to contract.