You have found your next house and the landlord has accepted your offer. Our staff is right by your side, assisting you in this new journey and in the meantime you are packing your suitcases, we are preparing the documents and logistics for your moving in.
Starting a new Tenancy means also that some charges will be applied and Marylebone Properties International’s team will explain the breakdown of the fees during our first meeting.
To offer you a transparent service, we have also prepared the list of the fees that you may encounter and also the explanation of each one.
|Pre-Tenancy||All Fees stated are inclusive of VAT (calculated at 20%)|
|Referencing Fee||£80 per person (not for minors).|
|Deposit||Typically six weeks rent|
|Pet Deposit||Returnable additional security deposit, equivalent to two weeks’ rent|
|During your tenancy (if required)||All Fees stated are inclusive of VAT (calculated at 20%)|
|Renewal Document Fee||£100|
|Change of Occupancy||£120|
|Future Landlord Reference Fee||£36|
|Check Out Inventory||Depending on the size of the property|
AN INSIGHT OF THE RENTING PROCESS
The following information is given for your guidance and contains all relevant requirement expected from prospective Tenants should you wish to proceed with renting a property with Marylebone Properties International
THE REFERENCE CHECK
It is a legal requirement that, as your real estate agency, we collect references on all the adults willing to rent or occupy one property through Marylebone Properties International. Once the documents are collected, we will arrange for an online reference check through an external reference agency that will assure the accuracy and impartiality of the outcome.
The references normally include:
- A full credit search
- A letter from the employer confirming the salary
- In case of a freelance, a letter from the accountant confirming the income
- A previous Landlord or Managing Agent reference
Please note that to pass our reference criteria you should have an annual income in excess of 30 x the monthly rental. As an example, if the property you wish to rent is for £1,000.00 per calendar month, you should prove an annual income of at least £30,000.00 (30 x £1,000.00 = £30,000).
Sometimes, for example if you are student, your circumstances may be different. Marylebone Properties International’s team can advice on this matter, help you in securing a flat and offer guidance in choosing a guarantor if required.
The reference form will be forwarded to you online via mail. We kindly ask you to complete the form directly online within 24 hours upon reception, completing all of the information required. We will notify you is any problem may occur
If you have any adverse credit, the ability to pass the reference check will be influenced and it is important you disclose this information with your property consultant upon proposing an offer. In case the application is declined, you will not be able to rent the flat that will be put back on the market. Under these circumstances, the Administration Fee and Reference Check Fee are not refundable.
ADMINISTRATION AND REFERENCE CHECK FEES
The Administration Fee is £200.00 (VAT incl.) and covers and expertly written Tenancy Agreement, brokering agreed amendments between landlord and tenant, and arrangement for completion and signature of the agreement by both parties, and registering your deposit with the Tenancy Deposit Scheme. The payment of the Administration Fee is required to reserve the flat and will be paid along with the Reference Check Fee (£80.00 per person, including VAT). The Reference Check Fee is not applied on minors that might live in the property.
These charged are not refundable.
TENANCY AGREEMENT, RENT PAYMENT AND DEPOSIT
Once the reference check has been approved, we will book with you an appointment in our office located in 37 Lisson Grove, Marylebone, London, NW1 6NS to sign the Tenancy Agreement and any other relevant document before your moving in.
Before the moving in date, the following monies must be remitted:
- First Rent Instalment
- Security Deposit
The Deposit is usually between four and six weeks, according to the instructions of the Landlord, and will be protected through the DPS scheme within 30 days from the beginning of the Tenancy. The Deposit will cover eventual damages reported in the property at the end of your Tenancy. The Deposit will be released, once both parties agree on the amount, signing our Deposit Release Form.
We love pets, but to cover the added risks of property damages, the landlord, if she accepts to host a pet, may ask for two extra weeks of Deposit that may be returned at the end of the Tenancy.
The Inventory is prepared upon your moving in in order to check the conditions of the flat. It is extremely important that you carefully check the document at the beginning of the Tenancy, as you will be responsible for any damage that is not reported in the Inventory. The Check In Report is paid by the Landlord, but the Check Out Inventory will be paid by the Tenants. We will also ask to sign the Check In and Check Out Inventory, as a proof of knowledge.
The costs for the Check Out Inventory varies according to the size of the flat and the number of rooms. Marylebone Properties International Consultant will inform upon your signing about the costs.
RENEWALS OF THE TENANCY AGREEMENT AND NOTICES
Prior to the end of the tenancy, if you are not in breach of the Tenancy Agreement, the Landlord may ask you to renew the contract. We will inform you in writing in regards of any change in terms of the new Agreement and will prepare also the new contract. If you wish to leave the property at the end of the Tenancy, you have to inform us, giving 2 months notice.
If you do not comply with the Notice then possession proceedings will be taken against you. You will be liable for all legal costs incurred. You cannot give notice to end your Tenancy during the fixed term, apart from using the break clause included in the Tenancy Agreement (if applicable). If you wish to extend the Tenancy Agreement, a Renewal Fee of £100.00 will be payable to Marylebone Properties International.
Should you choose to leave the property early your obligations remain until the Tenancy ends.
PAYING THE RENT
If Marylebone Properties International has been instructed by the Landlord to collect the rent payments, you will pay your rent to the Agency, which bank account details will be disclosed to you and included in the Tenancy Agreement, once the contract is prepared.
The Landlord is responsible for insuring the building where you will live. We also recommend you to have a suitable insurance policy to protect your personal belongings and any accidental damage that you might cause to the Landlord’s possessions. Having an insurance policy in place can also avoid conflicts between you and the Landlord at the end of the Tenancy.
Unless differently stated in the Tenancy Agreement, the Tenants have to pay for water and environmental charges, Council Tax, Telephone, Internet, Gas and Electricity. If Marylebone Properties International is instructed as the management company we will inform all of these services regarding your occupation, but it will be still your responsibility to start a new account with the suppliers.
Failure to pay the bills for utilities will lead to a disconnection of the service and you might be prosecuted for non-payment of the Council Tax.
If Marylebone Property International has been instructed by the Landlord as the managing agency, we will carry out property inspections twice for year. Upon our inspection you will be informed by email notification, giving a minimum of 24 notice. The inspection is carried out to evaluate the possible need of maintenance repairs.
Whilst our team will carry out the inspection, you might be willing to attend or not. Your presence is not mandatory.
If we don’t hold the keys of the property, we might be in need to arrange an appointment with you to gain access. If you can’t attend or wish to postpone the appointment, you have to inform us by mail giving 24 hours notice, otherwise you might incur in an Administrative Charge of £45.00 + VAT to cover our costs for the abortive visit.
MAINTAINING THE FLAT
It is your responsibility to inform Marylebone Properties International (if we have been instructed as the managing agency) or the Landlord of any repairs or maintained that may be required. You can directly contact contractors only in case of emergency. If you wish to carry out some works inside of the flat, you need the approval from the Landlord or the managing agency. In this cases, the costs of the works will be your responsibility, will not be refunded by the Landlord or deducted from the next rent payments.
If your circumstances change during the Tenancy and you start to receive housing benefits, you must promptly inform Marylebone Properties International or your Landlord.
CHANCE OF OCCUPANCY
If the Tenants are sharers, each individual forming the Tenancy Agreement are responsible for paying the rent until the end of the Tenancy and for any costs produced by the breach of the contract.
If a sharer wish to replace herself with another Occupier, then an Administration Fee of £120.00 will be payable for each change. The fee covers also the reference check for any new person. Any replacement must be approvaed by writing by the Landlord or Marylebone Properties International.
Please note that each change in sharer is subject to contract and references.
ENDING THE TENANCY
If you wish to vacate the property when the Tenancy Agreement ends, you must give us 2 months notice by writing.
Prior to the end of the Tenancy, you have to prepare the property, removing your belongings, cleaning the property and leaving the garden (if applicable) in good conditions.
If you fail to do so, you might be be charged for cleaning and the amount will be deducted from the Deposit.
For any further explanation about the Tenancy Fees, just give us a call at 020 77 23 23 24
send an email to [email protected]