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I want to rent a property. What is involved? (Please also see FAQ section)
Finding a property
Our quick search facility takes the stress out of finding a property to rent. You can save your searches so they are easy to find and bookmark the particular properties you like so that you can immediately find them again. Sign up to My Maxim, which is an easy to use feature making your property search as easy as possible.
Reserving a property
When you wish to reserve a property, we ask for a Holding Deposit of two weeks rent, which is deducted from the final payment you will need to make before moving in to your new property. This guarantees (subject to satisfactory references) that the property is secured for you whilst agreements are drawn. This deposit is non-refundable unless the landlord decides to take the property off the market.
References
Before we can draw up the Tenancy agreement we will need to take references including a credit check. These have to satisfy the landlord that you are able to pay the rent and have a good character reference. Once you start the reference process all information needs to be completed within 24 hours.
You will need the following reference details for renting:
- Full name, date of birth, nationality
- Your address history for the last 3 years
- Proof of address: bank, credit card or mobile phone statement
- Income/occupation: details of your income sources and employer
- Bank account: details of the bank account to be used to pay the rent
- Credit/debit card: details of the card and statement address
- Your next of kin: details of who to contact in an emergency on your behalf
- Name of previous landlord/managing agent (if any)
- Contact details of someone who can provide a character reference for you
- If you’re a student you will need to provide proof of your student status
Guarantors
If you are a student, self-employed or have only been employed for a short while, you may need a guarantor to ensure the payment of rent. A Guarantor has to be a homeowner, have a clean credit history, and be in employment or in receipt of pensions. If you cannot pay the rent, the Guarantor legally takes on the responsibility of ensuring that the rent is paid.
Deposits, fees and rental payments
At Maxim there are several charges before moving in to your property. You will initially be asked to pay a Holding Deposit of two weeks rent, which will be deducted from your final payment before you move in). Before you move in, you will be asked to pay a deposit of six weeks (which will be returned subject to the conditions laid out in the contract), one months rent in advance, a referencing fee of £35 per tenant, an Inventory fee and a check in fee, along with an admin fee of £117.50.
The Letting Agreement
Once you have found a property and have your references in place, you will need to sign an Assured Shorthold Tenancy (AST), which will also be signed by the Landlord. This agreement means that the Landlord takes possession of the property again at the end of the tenancy.
Under Clause 10 of the Tenancy Agreement, if there is a break clause stipulated, either the Landlord and/or the Tenant is able to terminate the Agreement after a shorter period, typically 6 month less that the tenancy term - but with 2 months notice period (so 4 months less occupation that the full term in total). This notice has to be served in writing by the party giving notice. You should note that the Landlord does not have an obligation to carry out pre-contact promises of furnishings or repairs for renting unless they have been listed on the Rider attached to the Tenancy Agreement.
Arranging utilities
In almost all cases, you will have to pay gas, electricity, telephone, water and local authority council tax. You should liaise with the Landlord to the obtain details needed to change services into your name. NB Electricity and telephone services must be applied for at least 4 working days before moving.
Provision of keys
We ask the Landlord to provide a set of keys for each tenant renting the property. Under no circumstances are locks to be changed by the Tenant without prior approval of the Landlord. Tenants must ensure they return all keys to Maxim at the end of the tenancy period, otherwise monies will from the rental deposit money will be kept to pay for replacing any locks.
Your safety under gas, furnishing and electrical regulations
The Landlord is obliged to make arrangements to ensure that the property is safe for you whilst renting under gas appliances, furnishings and electrical regulations.
The Gas Safety (Installation and Use) Regulations 1998:
All gas appliances and associated pipe work must by law be maintained in a safe condition and be checked for safety at least every 12 months by a suitably qualified engineer. Before moving into the property, you must be handed a copy of the last record of inspection. Also, a record of these checks should be in the property. Similarly, instructions for these appliances should be in the property. If you feel that these conditions are not being complied with tell your Landlord immediately.
The Furniture and Furnishings (Fire) (Safety) Regulations:
This Act requires that all furniture must be labelled clearly showing that it is fire resistant. Any new or additional furniture being put into the property must also comply with these regulations.
The Electrical Equipment (Safety) Regulations 1994:
Electrical appliances must be checked before you move in to the property. Safety regulations fact sheets can be viewed at http://www.letlink.co.uk/letting-factsheets/factsheets/
Visual inspections (‘Managed’ property only)
During the course of the tenancy, every three months, we may inspect the premises you are renting to verify that the terms of the Tenancy Agreement are being complied with. We will write or telephone to you to make arrangements for an inspection date. Provisions for these arrangements are included in the Tenancy Agreement.
Renewing your tenancy or moving out
Two months before the end of the tenancy, we contact you to see if you would like to renew your tenancy. If you wish to stay on in the property we seek approval from the Landlord and make any necessary arrangements. If the Landlord does not wish to renew the tenancy we can start looking for an alternative property to rent if you wish. Please appreciate that if you are not staying in the property we may wish to show it to other prospective Tenants during your notice period.
Return of your rental deposit
At the commencement of the Tenancy you would normally have been checked in and an inventory or Check-In Report outlining the condition of the property. At the end of your Tenancy, a similar Check-out Report is compiled and this is where the condition and cleanliness of the property is checked and reported back to the Landlord. Normally this document is referred to by the Landlord in deciding what deductions for repairs, if any, need to be made from your deposit. Maxim cannot be involved in any decision over return of deposit - this is between the Tenant and the Landlord. You can liaise with the Landlord about return of deposit, after the inventory or our Check-Out report has been done. A copy of this report will be sent to you for your reference.
Protection of deposits for tenants
Landlords are required by legislation to pay a tenant’s deposit into a separate custodial or insurance based Deposit Scheme. Either type of scheme will protect a tenant’s deposit money. If only part of the deposit is in dispute, then the remainder that is not in dispute must be returned to the tenant within a maximum of 10 days of the tenancy ending. The tenant and landlord can jointly or separately apply to the Deposit Scheme to have their case referred to Resolution or Court. Once a resolution has been reached, the deposit must be returned within a maximum of 10 days. For more information see http://www.mydeposits.co.uk/tenants/how.aspx
If you have any queries regarding the above, please feel free to contact us either by calling 020 7357 7067 or emailing us at info@maximproperty.co.uk
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