Tenancy Guide (England)
If you are looking to rent a property with McCarthy & Stone, you will enter into an Assured Tenancy with the Landlord. It will be set up as a fixed term of 12 months and then become a periodic tenancy where you can give notice if you wish to vacate, but the Landlord cannot serve you notice to leave, unless you have filed to adhere to the obligations under your agreement.
Once you have found a property you would like to rent, you will need to pay a reservation deposit of £500. This will reserve the property for you whilst McCarthy & Stone complete certain checks to ensure that you are able to afford the monthly rent. While this is taking place, we will prepare the property so that it is ready for you to move in on the agreed date.
Once the tenancy has been agreed, your reservation deposit will be offset against the first month’s rent that will be due on or before the move in. Should you decide not to proceed with the tenancy or should you be unable to satisfy our affordability check and so the let does not proceed, your reservation deposit will be returned to you in full.
Tenancy Guide Notes
In order to check that you are able to afford the monthly rent, we will ask you to complete a Rental Application Pack which will provide us with the information we need in order to proceed with referencing each Tenant. We will ask you to provide proof of income, savings and/or pension together with copies of your last 3 months bank statements. We will provide you with an Income and Expenditure form to complete which will also assist us in assessing your affordability.
Proof of Identity To Comply with Government Right To Rent
We will ask you to provide identification / information in most instances will be in the form of a passport together with a copy utility bill dated within the last 3 months in order to confirm your current address.
As part of your obligation under the tenancy, you will be asked to pay a security deposit which will be equivalent to 5 weeks rent and this will be held by your Landlord for the duration of the tenancy in the Government Approved Tenancy Deposit Scheme (TDS). At the end of the tenancy, it is dealt with in accordance with the terms of the Tenancy Agreement.
Moving in Monies
Before you can move into your property, you will need to pay your move in monies which will be your first month’s rent together with your security deposit less the reservation deposit you’ve already paid. You will have the exact amount confirmed to you in plenty of time so that you can make sure that the payment is made in cleared funds which must be done before you can move in.
All rental payments will be due on the 1st of each month payable by Direct Debit Mandate (DDM).
Unless it is indicated otherwise, it is your responsibility to arrange and pay Council Tax, Electricity, Gas, Water & Sewage rates and TV Licence and any other agreed outgoings of the property during the tenancy. It will be your responsibility to advise the relevant suppliers that you will be responsible for payment. In the majority of our Developments Water & Sewage will be included within the advertised rental amount.
Tenants’ contents insurance cover is strongly recommended and will protect your own contents during the tenancy as well as accidental damage cover for the Landlord’s contents, fixtures and fittings.
Details of the property, contents and a schedule of condition will be prepared before the start of the tenancy. This document could form the basis for any dispute at the end of your tenancy and should be checked carefully once you have moved in. If you disagree with anything in the Inventory document, you must let us know within 14 days of the start of your tenancy. If we do not hear from you, we will assume that you have agreed with its contents.
From time to time we may wish to conduct property inspections. The purpose of any visit is to check the condition of the property and to check with you if there are any maintenance/repair issues that need to be dealt with. We will make contact with you and arrange a mutually convenient appointment.
All McCarthy & Stone developments are non smoking which includes your property and any communal areas.
Should any rent payments be late, we will charge a fee for the cost of chasing this rental payment (more than 14 days overdue) which is charged at 3% above the Bank of England’s annual percentage rate for each day that the rent is outstanding. If you should lose or damage the keys to the building or property, you will be charged the reasonable costs incurred by McCarthy & Stone for providing you with replacements.
Ending the Tenancy
Should you wish to end your Tenancy at any time after the initial 12 month fixed term, you will need to provide the Landlord with two months written notice.