TO RESERVE A PROPERTY
Once you have seen a property that you are interested in and you want to take it, we require the following:
The Holding Deposit will be deducted from the balance of monies due from you prior to move in day.
A landlord or agent can ask a tenant to pay a holding deposit before a tenancy is entered into whilst they undertake reference checks. The maximum holding deposit must not be more than one week’s rent. If a landlord or agent requires any amount above one week’s rent, the excess will be a prohibited payment.
Example
If there are 3 tenants who are jointly liable for the agreed weekly rent of £240, the landlord or agent cannot charge each tenant a £240 holding deposit. The maximum a landlord can accept for the property as a whole would be £240.
A landlord or agent must refund the holding deposit if:
the landlord and tenant sign a tenancy agreement
the landlord does not go ahead with the tenancy
a tenancy agreement is not signed within the agreed deadline
A landlord or agent can keep the holding deposit to go towards the tenancy deposit or the first month’s rent with the tenant’s consent. This can only happen if a tenancy agreement has been signed.
The default deadline for signing a tenancy agreement after paying a holding deposit is 15 days after the landlord or letting agent receives the holding deposit.
The landlord or agent can agree a longer or shorter deadline with the tenant in writing.
A landlord or agent can keep the holding deposit if a tenant:
fails a right to rent check
withdraws from the application process
does not sign the tenancy agreement despite the landlord and agent taking all reasonable steps to do so
gives false or misleading information
False information is when there is a difference between the information provided and the correct information.
This is usually related to inaccuracies around the tenant’s financial suitability. A tenant could also fail to disclose relevant information.
For example:
a tenant has lied about income or employment
a tenant failed to disclose relevant information when they were asked for it. For example, a tenant has not disclosed that they have a County Court Judgment (CCJ)
income was shown to be significantly higher because of a typo, even if the tenant was not aware of the typo
A landlord or agent cannot keep a holding deposit if the false or misleading information or conduct is not relevant to the individual’s suitability as a tenant.
For example:
where a tenant has misspelled their name, the name of their employer or a previous address
the tenant did not declare a previous address. The omission did not impact on their credit worthiness or assessment of suitability
the tenant slightly misjudged their income which does not affect their ability to afford the rent
Where a landlord or agent keeps the holding deposit, they must give reasons in writing to the tenant. This has to be within 7 days of the landlord’s decision to not grant a tenancy agreement or the expiry of the deadline for the agreement. If they do not do this the landlord or agent must refund the holding deposit.
A landlord or letting agent must not receive additional holding deposits for the same property. This would not apply if the first holding deposit has been repaid unless the earlier deposit was lawfully retained under schedule 2. This is intended to prevent landlords or letting agents taking multiple holding deposits for one property at the same time from different prospective tenants.
WHAT YOU NEED TO PAY PRIOR TO MOVE IN DAY
Before moving into a property you will need to pay the following in cleared funds:
DEPOSITS
The Deposit required will be:
REFERENCES
We require the following references:
References are carried out by Complete Digital Vetting (CDV), a specialist provider within the lettings industry.
STUDENTS
Students who are studying need to provide us with the following:
UTILITIES
It is the responsibility of the Tenants to contact the Local Utility Companies in order to inform them of all changes of occupancy for the property, and commencement of the tenancy. It is also the Tenants responsibility to pay Council Tax direct to the Local Authority, and to pay for the television licence at the property.
INSURANCE
Please note that any personal items or furniture, which you move into the property, are not covered by the Landlord’s contents insurance policy. You will need to arrange appropriate cover. If required, we have information on this service.
RELEVANT LETTING FEES AND TENANT PROTECTION INFORMATION
As well as paying the rent, you may also be required to make the following permitted payments:
Permitted payments
Before the tenancy starts (payable to TLC Sales & Lettings)
Holding Deposit: 1 week’s rent
Deposit: 5 weeks’ rent
During the tenancy (payable to TLC Sales & Lettings)
Payment of £50 if you want to change the tenancy agreement
Payment of interest for the late payment of rent at a rate of 8%
Payment of £25 for the reasonably incurred costs for the loss of keys/security devices
Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy
During the tenancy (payable to the provider) if permitted and applicable
Utilities – gas, electricity, water
Communications – telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Television licence
Council Tax
Other permitted payments
Any other permitted payments, not included above, under the relevant legislation including contractual damages.
Tenant protection
TLC Sales & Lettings is a member of Money Shield, which is a client money protection scheme, and also a member of The Property Ombudsman (membership number D9875) , which is a redress scheme.
Client Money Protection Security Certificate
