Many Letting Agents have different procedures.The guide & procedures are a general overview to assist you when renting a property from Hunters.

HOW MUCH DO I NEED TO EARN TO BE CONSIDERED FOR THE PROPERTY?

You are required to be employed or self employed with a regular verifiable income. You must earn either on your own, or jointly at least 30 times the monthly rent of the property you choose to commit to:   

Examples:

Monthly rent £850.00 x 30 = £25,500 Gross Annual Salary.

Monthly rent £1200.00 x 30 = £36'000 Gross Annual Salary

FINANCIAL GUARANTORS

Financial Guarantors are required if, for example if the tenants’ income is below the threshold as stated below or if their employment is temporary or considered as changeable. Furtermore if the tenants have not been continuously employed for the past 18 months or has been working abroad in the previous 6 months.

Please note that the same criteria applies to the guarantor and, furthermore, the guarantor must earn the equivalent of three times the yearly sum of the rent, be in full time employment and must provide bank statements to show the credit of income on a regular basis. Occasionally a landlord may request that a tenant provides a guarantor as extra financial backing even if the tenant qualifies under Hunters criteria.

The guarantor must be aware that they will stand as guarantor for you (and your partner if you are moving in to the property with someone else) for the entire occupancy of the property, not just for the period of the initial tenancy term.

JOINT AND SEVERAL LIABILITY AND WHAT IT MEANS

One or more tenants is legally referred to as "Joint and Several Liability" which means that jointly all the tenants entering into an agreement together are acting on behalf of each other and are liable for the rent commitments and any costs arising during a tenancy. In the instance of joint tenancies, Hunters receipt the holding deposit Jointly and Severally, therefore should one applicant not proceed for whatever reason, Hunters will not be held liable for retaining the holding deposit against all joint and several applicants.

RESERVATION FEE (HOLDING DEPOSIT)

Other wise known as a 'Holding Deposit' which holds the property for you.  The reservation deposit we take is equivalent to two weeks rent of the property you are intending to rent.

The reservation / holding deposit of two weeks rent is to be paid to Hunters. We can take payment from you over the phone using a debit card, we do not accept personal cheques, as payment must be in cleared funds. If payment is made over the phone, a receipt can be emailed to you if requested.  The holding deposit is non-refundable should any applicant decide to withdraw from proceeding with the tenancy for whatever reason, change the commencement date to a later date, provide inaccurate information, change the period of the agreement, or require any additional alterations / furnishings within the property other than what was seen and agreed at the time of viewing the property and paying the holding deposit.

REFERENCES

Each tenant is required to complete a reference application form for the purpose of financial credit checking. We will also contact your employer, accountant and landlord (if you are in rented accommodation already). Your previous employer will also be contacted if you have recently changed jobs.

If self employed, you are required to have a minimum of two years accounts in order so that your acting accountant may supply a financial reference on your behalf. Alternatively if you submit your own Self Assessments to the Inland Revenue, clarification of the past two years income will need to be verified in the form of a confirmation from the Inland Revenue. Proof of your self employed income in the form of documentation from the Inland Revenue must be supplied to us.

The time process of references and seeking landlord approval to proceed with a tenancy- usually takes a minimum of five working days.  The strength of an application very much depends on the information provided to us, and the speed in which your referees reply to enquires. To assist us in collating the necessary references, it would be advantageous for you to warn the above individuals in advance that references are required as these can be returned to us within a matter of a few days, barring any delays.

However, if the Tenancy Agreement is not signed by you (the Tenant) within 7 to 14 working days after receipt of your application, the Landlord reserves the right to re-offer the property. In these circumstances, or should your references prove unsatisfactory, the reservation/application fee would be non-refundable.

FEES

We charge an application fee of £86.00 including VAT per tenant or guarantor which is non-refundable, even if a tenancy is refused on the grounds of references.

COMPANY LET 

Company applications are acceptable where the company will be paying the rent. The fee will be £ 117.50 including VAT.

If incorrect information is provided, which would result in your references not being verified or confirmed, Hunters are within their rights not to refund the paid holding deposit nor accept amended information for new reference processing. Hunters cannot enter into any discussion or correspondence concerning replies to references or rejected Tenancy Applications.

Although unusual, should the landlord withdraw from pursuing a tenancy prior to contracts being signed by all parties, for reasons other than incomplete or rejected references then any deposit paid will be returned in full to the applicant. Such refund will be in the form of a cheque issued by Hunters accounts department and made payable to the applicants from whom such monies were receipted.

IDENTIFICATION / PROOF OF RESIDENCY

All tenants must show proof of address. All of the following forms of identification are required: Should you have a problem providing identification or proof of residency please contact us on: 020 8441 6969

• Passport and or Photo UK Driving Licence
• Wage slips (at least 2, most recent)
• Inland Revenue verification of Tax paid for previous 2 years 
• Signed copy of your employment contract (only if a new employment is commencing)
• Most Recent bank statements (at least 2 - less than 3 months old)
• Proof of residency such as a Council Tax bill (for stated address)

TENANCY AGREEMENT

An appointment will be arranged with you to visit our offices to sign the Tenancy Agreement when all references have been received. The Landlord will also be asked to sign their copy of the document.

RENT AND DEPOSIT

You will be required to provide the balance of the invoice we provide before taking possession of the property.   Rent is to be paid monthly in advance although this may vary. The preferred method is by bank standing order.

The reservation fee will be offset against the invoice balance which includes the dilapidations deposit. The dilapidations deposit amount mayvary according to the request of the landlord although this is usually equivilent to one months or six weeks rent.  We will inform you of the total balance due per property prior to paying the reservation deposit.

The full deposit will be paid to the following scheme upon receipt, unless we inform you otherwise:

CHECK IN AND SCHEDULE OF CONDITION REPORT

If we have been instructed by the Landlord, a Condition Report will be prepared of your new home and a convenient appointment will be made with the Inventory Clerk to carry out a Check In report to coincide with your move in day. All information is provided in good faith. It does not replace the advice of a qualified legal advisor. We will accept no responsibility for any inaccuracies.

OTHER POINTS OF INTEREST:

1. The Tenant will be responsible for insuring their own possessions

2. The Tenant will take over all utilities such as Gas, Electricity, Water/Sewage charges, Council Tax & Telephone upon moving into the property and will be responsible for contacting the relevant suppliers accordingly prior to commencement of the tenancy.

3. The Landlord is responsible for any repair/maintenance problems to appliances etc., but the Tenant is responsible for any breakages which should be reported immediately.

4. Decoration of the property must only be done with your Landlord’s permission.

5. No pets are allowed unless the Landlord has given consent.

6.  Reasonable notice should be given in the event that the Letting Agent or Landlord wishes to inspect the property outside pre-agreed times. It is usual for the Agent to inspect the property at least twice during the term of your Tenancy and the Tenancy Agreement should cover this eventuality.

7. Most lets are for 12 months, although some Landlords may consider shorter terms of say 6 months.

8. Should you wish to quit your Tenancy earlier than the agreed term, you will be liable for all rent until the end of the agreed Tenancy. However, it may be worth considering negotiating a Break clause with the Landlord which, for example, could entitle you to give notice after 6 months. In this case, you would only be liable for the rent for the notice period of 2 months, releasing you from the remaining term of a 12 month Tenancy.

9. There is no set law regarding the time limit for returning deposits but this is normally subsequent to the final inspection of the property. Letting agents generally encourage Landlords to employ a professional inventory agent to conduct the inspection and produce a report as to the condition of the interior at the beginning of the Tenancy and again at the end but this is not obligatory. In most cases, the deposit will be returned once any damages are ascertained by the Tenant/Landlord/Inventory Clerk and appropriate deductions agreed.

10. The most common type of Tenancy Agreement is the assured short hold used for 6-12 month lets and usually takes the form of a standard contract between both parties.
However, should any 'extras' be agreed such as certain furnishings to be provided by the Landlord, you should ask that an extra clause be added to the agreement to this effect. It should be noted that the landlord is not obliged to carry out promises so it is important that your requests are documented.

11. The Letting Agents will deal with the property viewings, references, agreements and getting you moved in. If the agent has been instructed to manage the property then you will normally report any repairs or queries to them. If not, then you will deal directly with the Landlord.

12. The Letting Agent, whilst acting for the Landlord, operates within accepted guidelines in the industry to ensure that you are able to rely on a professional letting agent taking your concerns seriously and advising the Landlord if they are being unreasonable. In this regard, you should be assured that the property conforms to all safety regulations and is fairly priced.