Rents
Rents are usually quoted as being exclusive of electricity, gas, water rates/usage, telephone connection/usage, and council tax. Rents are always paid in advance by standing order unless otherwise agreed.
Deposits
The normal deposit, unless otherwise stated will be a sum equivalent to one months rent plus £100 but may be greater. Always ask before applying.
TDS (Tenants Deposit Scheme)
April 6th 2007 saw the introduction of the new tenant deposit legislation. Compliance with this law is exceptionally important and the Governmant have made it clear that they will not allow this law to be abused. It is designed to protect the tenants deposit from rogue landlords whilst at the same time making it fair to both the landlord and tenant should there be a dispute over unreasonable dilapidations to the property.
All Assured Shorthold Tenancy deposits MUST now be held in the manner of a ‘Stakeholder’
Deposits are therefore always registered in either a ‘Custodial’ or an ‘Insured’ Scheme which are provided by one of
three recognised Government approved organisations. Registration must be completed within 14 days of the commencement of any Assured Shorthold Tenancy with the tenant will be provided with information regarding where the deposit will be held, its registration number and his/her legal rights (often found in the Tenancy Agreement).
From October 2007 all disputes which cannot be resolved by negotiation between the landlord and tenant through the agent will require to be settled by mediation through an independent arbitration service as defined by the Government scheme within which the deposit is registered. This can sometimes be a protracted affair, there are waiting lists for hearings and so it is always better to try to agree a settlement equitably between the two parties so that the deposit or any balance can be returned promptly.
Any member of staff will be able to assist you in this should you have any questions.