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Tenants Handbook Things you need to know

A new breed of estate agency


Contents Renting with Blue Sky 1  The renting process 2  Step 1) Working out your budget 3 Step 2) Starting your search Step 3) Successful viewings Step 4) Reserving the property Step 5) Processing your application Step 6) Agreeing your tenancy Step 7) Preparing to move Step 8) Moving in

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Financial & legal elements 12 FAQs 14 Estate agency terms explained 16


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When it comes to renting property we understand that you want to find and secure the right property quickly, with as little fuss as possible. This is why we are taking a fresh approach to lettings and setting our standards high.

What you can expect... Honest advice and up-to-date information You need to be able to make informed decisions when renting a home. Our experience and expertise will help us to guide you through an ever-changing housing market, and we’ve packed our website and this guide full of handy tips and useful information to help you make the best decisions.

Professional standards We set our standards high, are full members of the Property Ombudsman Scheme and ARLA (Association of Residential Letting Agents) and follow their Codes of Practice as well as our own. You want to know you’re in safe hands, which is why all our staff are fully trained and have, or are working towards, industry recognised qualifications. We also have Client Money Protection in place at all times so your money is protected.

We’ll listen to you In order to meet your requirements we need to understand fully what you’re looking for – and the best way for us to do that is to listen. Whatever you want, just tell us and we’ll do our very best to deliver.

No hidden charges Our charges to tenants are some of the cheapest in Bristol. We believe in transparency in the way we do business with our tenants and honesty.

1 2

renting process explained Step-by-Step The

out 1 Working your budget

3 Successful viewings

your 2 Starting search

Step 1) Assessing the value of your property Step 2) Choosing the right level of service Step 3) Marketing your property Step 4) Choosing your estate agent Step 5) Presenting your property Step 6) Instructing a solicitor Step 7) Successful viewings Step 8) Receiving and accepting offers Step 9) Progressing your sale Step 10) Preparing to move Processing Preparing Step 11) yourCompleting application your sale to move

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Our services to you Moving in Agreeing 4 Reserving 6 8 the property your tenancy Financial & legal elements FAQ’s

3 4 5 6 7 8 9 10 11 13 16

17 22 24

Estate agency terms explained 26

Renting a property can seem like a complicated process. To make things easier for you we’ve prepared this handy guide to help you understand the fundamental process of renting a property, and explained our procedures, so you know what to expect every step of the way.

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We disclose ALL charges up front before you commit to a property so you’ll never get any nasty surprises.

Selling with Blue Sky The selling process

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Renting with Blue Sky

Contents


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Outgoings

Your expected future monthly expenditure

Rent/board

£

£

Electricity

£

£

Gas/oil (not all properties have gas)

£

£

Water (find out if on a meter)

£

£

Telephone

£

£

It is important at this stage to set a budget, you may already have a figure in mind but to help we have provided a budget planner, to ensure you have considered all potential costs associated with renting a property. If you have not rented a property before please speak to a member of staff who will be happy to help to give you an idea of the cost of utility bills etc.

TV licence/satellite/cable

£

£

Tenant income £

Guarator income £

Monthly rent £

140

4200

5040

880

160

4800

5760

900

Selling with Blue Sky 1600 26400 31680 The selling process 1620 27000 32400

920

27600 33120 Step 1) Assessing the

180

5400

6480

200

6000

7200

220

6600

7920

240

7200

8640

260

8400

10080

300

9000

10800

320

9600

11520

Council Tax (single occupiers discount of 25% may apply)

£

£

340

10200

12240

Mobile phone

£

£

360

10800

12960

Credit card payments

£

£

380

11400

13680

Loan repayments

£

£

400

12000

14400

Contents insurance

£

£

420

12600

15120

Affordability calculator

Life insurance premiums

£

£

440

13200

15840

Use the guide on the next page to determine the affordable rent based on your total income. Bear in mind that if you’re joint tenants moving into a property you can base the affordable rent on your total combined income. Should you require a guarantor they will also need to meet affordability levels as shown.

Private pension payments

£

£

460

13800

16560

480

14400

17280

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Monthly rent £

Monthly rent £

Savings/investments

£

£

500

15000

18000

Maintenance payments/child support

£

£

520

15600

18720

School/college fees

£

£

540

16200

19440

Car expenses

£

£

560

16800

20160

Other transport

£

£

Parking

£

£

Holidays/birthdays/Christmas

£

Clothing

580

17400

20880

600

18000

21600

620

18600

22320

£

640

19200

23040

£

£

660

19800

23760

Haircut/beauty treatments

£

£

Food

£

£

Sundries (e.g. cigarettes, magazines)

£

£

680

20400

24480

700

21000

25200

720

21600

25920

740

22200

26640

760

22800

27360

Socialising

£

£

Club fees

£

£

780

23400

28080

Repairs/decoration

£

£

800

24000

28800

Miscellaneous items

£

£

820

24600

29520

Total net income (a)

£

£

840

25200

30240

Expenditure (b)

£

£

860

25800

30960

Disposable income = (a – b)

£

£

940 960 980 1000 1020 1040 1060 1080 1100 1120 1140 1160 1180 1200 1220

Tenant income £

Guarator income £

57600

48600

1640 your

1 58320 2

3 4 60480 5 61200 6 61920 7 62640 8 63360 9 6408010 6480011 6552013 16 66240 59040

59760

41040

1860

55800 56400

67680

35400

42480

1900

57000

68400

34800services 41760 to you 1880 Our

36000 43200 2000 60000 Financial & legal elements 36600 43920

38400

46080

1320

39600

47520

1340

40200

48200

1360

40800

48960

1280 1300

48000

34200

44640

1260

Guarator income £

49200 value of property 28200 33840 1660 Step 2) Choosing the right level of service 49800 28800 34560 Step 3) Marketing your property 1680 50400 29400 35280 Step 4) Choosing your estate agent 1700 51000 30000 36000 Step 5) Presenting your property 1720 51600 Step 6) Instructing a solicitor 1740 30600 36720 52200 Step 7) Successful viewings 31200 37400 1760 52800 Step 8) Receiving and accepting offers 31800 38160 1780 53400 Step 9) Progressing 32400 38880your sale 1800 54000 Step 10) Preparing to move 1820 33000 39600 54600 Step 11) Completing 33600 40320 your sale 1840 55200

FAQ’s 37800

1240

Tenant income £

37200

66960

17 22

72000

24

45360

Estate agency terms explained 26 39000 46800

1380

41400

49680

1400

42000

50400

1420

42600

51120

1440

43200

51840

1460

43800

52560

1480

44400

53280

1500

45000

54000

1520

45600

54720

1540

46200

55440

1560

46800

56160

1580

47400

56880

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The first thing to think about when looking to rent a new property is how much rent you’d like to pay each month? We feel we have a duty of care not only to our landlords but to you, to ensure you can adequately cover the cost of the rent. To see how we work out what rent you can afford based on your income, check our affordability calculator on the next page.

Your current monthly expenditure

Contents

Affordability Calculator

Your joint tenant’s income: £

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Your net income: £

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Budget Planner Monthly Expenditure

Working out your budget

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Ideally you should start viewing properties no longer than two months before the date you wish to move and there are many ways to find properties available to rent.

Register your interest

You can also...

Now that you know how much rent you can afford, why not let us do the leg work for you? We live and breathe property so the best way to find a suitable home is to contact us, register your details and discuss your requirements. Give as much information as possible about what type of property you are looking for and what your main requirements are. This will help us to ensure we find you your ideal property as quickly as possible, and don’t waste your time viewing unsuitable properties.

Find all our properties on our website www.freshBlueSky.co.uk. By registering on the site you can recieve property updates and change your search criteria putting you in control of your search. Save properties of interest as you browse, be updated when prices change and properties have been let, so that you are always up-to-date.

Your property requirements: Type of property: Maximum rent PCM: Areas:

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Successful viewings

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We will confirm your appointment the day before the Contents viewing, especially if it was originally booked more

than five days previously. If you haven’t heard from us,

worth calling re-confirm the appointment. 1 Selling it’swith Blueto Sky Once you have selected the properties you’d like to view, Some people find it useful to make notes on viewings The selling process 2 we will arrange viewings at a time that suits you. We have and it’s a good idea to check the property off against 3 extended our opening hours to include late evening and Step 1) Assessing the value of your property your requirements. Making notes at the property or 4 weekend viewings, and will do our best to meet your Step 2) Choosing the right level of service afterwards will help you to remember what features 5 viewing requirements, subject to property availability. Step 3) Marketing your property you liked and compare it to other suitable properties 6 It’s best to make sure anyone who will be on the tenancyStep 4) Choosing your estate agent during your search. Step 5) Presenting your property 7 agreement comes to the property viewings. You will always If you know anyone who lives in the immediate area8 Step 6) Instructing a solicitor be accompanied by a member of our staff. ask them what it’s like to live there. If you see any 9 Our agents have mobile access to our full database, so Step 7) Successful viewings local residents on your visit, stop and ask them how 10 they can show you all our latest properties whilst on the Step 8) Receiving and accepting offers they enjoy living in the street/neighbourhood. Step 9) Progressing your sale 11 move, and will always be able to answer any questions you Step 10) Preparing to move 13  Find out about the local area. What services and may have. Step 11) Completing your sale 16 amenities does it offer? What public transport serves the area? How good are the local schools? Where Tips for successful viewings are the nearest parks or sports facilities? Lots of this It’s best not to view too many properties in one day. information can be found on our website. They will all start to merge into one another and if If you have a particularly large piece of furniture that you are rushing from one appointment to the next you will be bringing with you into your new home, you won’t be able to take everything in. measure it and bring a tape measure on viewings to Arriving at a viewing early will give you time not only measure spaces where it might fit. to find the right property, but to have a look at the immediate surroundings. Have a walk around, explore the neighbourhood and generally take in the feel of the place.

Our services to you

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Financial & legal elements

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FAQ’s

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Estate agency terms explained 26

Number of bedrooms: Outside space required: Furnished/unfurnished:

You should always make a diary note of viewings. Be sure to allow enough time to get from one viewing to the next, to avoid the stress of missing appointments and getting lost.

Proximity to public transport: Pets or smoking accepted: Other important requirements:

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Before you set off, work out how to get to the next property, whether you use satellite navigation or a street map. All our property particulars will include directions and a map to help you find the property easily. If you are unsure or get lost, just call us and we will happily direct you to the right place.

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We know the area well and have insight as to when properties are becoming available before they are marketed, keeping you one step ahead of the crowd. We take a proactive approach to sourcing suitable properties and will alert you to new properties coming on to the market via text, email, phone or post, whichever you prefer.

Starting your search

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Reserving the property

Once you have chosen your property, the application process begins. We have devised a process that is fair to both the landlord and you as the potential tenant. Once you’ve chosen a property, you will need to place a £100 holding fee with us, which will be refunded to you when you move into the property. We will then place the property on hold for three working days and stop conducting viewings. During the three working days you will need to provide us with: A completed application form for everyone over 18 years of age who will be living in the property. Application forms are available from our office and can be emailed or posted to you.

Once we’ve received all the items requested, we’ll confirm your details to the landlord. If they are happy to proceed, we will move forward with referencing immediately. However, if the landlord decides not to go ahead at this stage because of information given on your application forms, we will return all the fees you’ve paid.

Application fees are: £175 for a single person £100 per person thereafter £75 per guarantor (correct as of 2015)

Most recent wage slip for each applicant. A completed pet policy form (if renting with a pet)

RESE RVED

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Contents Selling with Blue Sky The selling process

We understand that you want to know quickly whether or not your application has been successful, so we aim to process all applications within seven working days. ToStep 1) Assessing the value of your property Step 2) Choosing the right level of service help us achieve this fast turnaround please notify all your Step 3) Marketing your property referees that we will be contacting them and ask them to Step 4) Choosing your estate agent ensure they return all the information requested as quickly as possible. If we are unable to complete referencing Step 5) Presenting your property because we are still waiting for outstanding information,Step 6) Instructing a solicitor after 15 working days we will put the property back on Step the 7) Successful viewings market and we will not be able to refund any of the feesStep 8) Receiving and accepting offers Step 9) Progressing your sale you’ve paid. Step 10) Preparing to move We will keep you informed of progress via text and email. If we have difficulty obtaining the information required Step 11) Completing your sale we will contact you immediately. Feel free to call us for a progress update at any time.

A completed application form for any guarantors. We also require one form of photographic ID (passport or photo card during licence) and one document as proof of address no more than two months old for each applicant and guarantor.

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Processing your application

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Our services to you

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Financial & legal elements

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FAQ’s

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Estate agency terms explained 26

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If you don’t provide all these items within the three working days period we will re-market the property and your holding fee will be retained.


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We will contact you to confirm you have passed referencing. We will also send you a statement of account showing what you have already paid and your outstanding balance. You will not be allowed to move into a property until we have received both the first month’s rent and your security deposit in cleared funds. A copy of the tenancy agreement will be sent to you and any guarantors to read and make sure you are happy with the content. This is a legal document and it’s important that you understand what you are signing. If you have any questions please contact us or seek legal advice. The guarantor must ensure that they sign and return their copy to us before the tenancy start date as failure to provide this will postpone the check-in and could jeopardise your tenancy completely. We will make an appointment for you to come into our office or meet at the property to sign the tenancy documents, and handover keys. You will also be required to provide a valid tenant contents insurance policy covering accidental damage, fire and theft at least 2 days prior to moving in. We can recommend specialist tenant insures just get in touch for details.

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Preparing to move

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One week Contents If necessary, defrost and clean your fridge freezer so it

Four weeks

is ready for the move.

Selling with Blue Sky 1 Pack a box of personal items that will be needed The selling process 2 immediately at your new home (e.g. toiletries,

If applicable, give your existing landlord notice that you kettle etc). Step 1) Assessing the value of your property 3 wish to end your current tenancy. Step 2) Choosing the right level company of serviceto confirm their arrival4 Contact your removal If you need a removal firm to help you move your Step 3) Marketing property 5 time andyour notify them of any last-minute details. belongings, book them now. We are happy to supply Step 4) Choosing your estate agent 6 Moving day details of local recommended companies. Step 5) Presenting your property 7 Organisea and set aside any items that you are taking 8 A professional firm can make all the diffrence. Step 6) Instructing solicitor with you so that they don’t get loaded on the van 9 Sort through all your belongings and sell or give awayStep 7) Successful viewings by mistake. Step 8) Receiving and accepting offers 10 any unwanted items. Step 9) Progressing your sale Disconnect everything from your old property, write 11 Start collecting plenty of boxes (if your removal company Step 10) Preparing to meter move readings and inform your 13 down your doesn’t provide them) to transport your belongings. Step 11) Completing your sale 16 utility companies. Tell service providers about your change of address, Strip beds and pack bedding. including utility companies, TV Licensing, DVLA, credit Before leaving, double check you haven’t left card companies etc. anything behind.

Our services to you

Three weeks

Book a professional cleaner to ensure you leave your existing property in good order.

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Financial &alllegal 22 Check windows elements are closed and doors are locked. Hand keys in to the letting agent.

FAQ’s

Arrange contents insurance for your new home. We can recommend tenant insurance specialists, just get in touch.

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Collect the keys for your new property from the letting agent! Make sure you’re on time for your check in appointment or you could incur charges.

Estate agency terms explained 26

Start packing and labelling boxes clearly. Start taking down any fitted items that are coming with you, such as shelving. Make good any holes left in the walls.

Cancel deliveries of newspapers, milk etc. Set up a postal redirection to ensure it is in place from the day you move out. This is important to protect yourself from identity theft. www.freshBlueSky.co.uk

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Return any borrowed items, such as library books etc.

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Two weeks

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Start using up any frozen food and buy small supplies until you move.

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Agreeing your tenancy

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Contents the Housing Act 2004 legislation. This act was brought in

Moving in

Financial & Selling with Blue Sky The selling process legal elements

to safeguard tenants’ deposits.

At last, moving day! You will need to come to our office or be at the property at an agreed time to sign the tenancy agreement, and any other relevant check-in documentation. This should take no more than 30 minutes. We will: Advise where all the meters are, confirm readings and utility supplier details. Give details of who to contact regarding maintenance and rental issues. Provide you with essential information such as where the stop tap is and when the bins go out. Wherever possible supply you with instruction manuals for electrical appliances, the heating system, oven etc. Give details of the deposit scheme where your deposit will be registered Give you a copy of the inventory to check and sign (where applicable). Give you a copy of the Energy Performance Certification (EPC) Give you two complete sets of keys. Give you a copy of any relevant safety certification. Answer any general questions you may have about the property.

The cost of our services

Step 3)  Marketing your property Any damage to the property that is not fair wear 5 We believe application fees should be a fair charge for Step 4) Choosing your estate agent 6 and tear. the administration needed to process the application. Step 5) Presenting your property 7 Loss or damage to fixtures and fittings. Our application fees are: Step 6) Instructing a solicitor 8 Successful Any money owed at the end of the tenancy. Step 7) viewings 9 £175 for a single person Step 8)  Receiving and accepting offers 10 Cleaning costs if the property is left in a worse state £100 per person thereafter Step 9) Progressing your than sale when you moved in. 11 of cleanliness £75 per guarantor Step 10) Preparing to move 13 Unless stated otherwise we will require a deposit equal Step 11) Completing your sale 16 No fee for under 18s to five weeks’ rent. This will need to be with us in cleared funds before your tenancy can start. If you want to reserve a property while you are going through the application process you can pay a £100 holding fee which will be refunded when you move into Rent the property. Details of this are covered in our ‘Reserving Rents are quoted per calendar month and are payable the property’ section on page 7. monthly in advance. You will be required to pay the first month’s rent to us in cleared funds before your tenancy Your tenancy agreement can start. A standing order will then be set up on your All our residential tenancy agreements are Assured bank account to make monthly rental payments. Shorthold Tenancy Agreements. They are usually for a

Our services to you

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Financial & legal elements

22

FAQ’s

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Estate agency terms explained 26

fixed initial term of six months unless you agree a different term with the landlord.

Deposit Your security deposit will be stored with one of the three government-approved protection schemes to comply with

Your monthly payments will be made on the same date that your tenancy started. For example, if your tenancy started on the 5th of the month your rent would be due on the 5th of every month until the end of your tenancy. However, if you would prefer to set a different date for the collection of your rent this can be arranged with prior notice and agreement from your landlord.

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Please allow at least 2 hours for this process if you need to sign an inventory on the day as we don’t want you to feel rushed.

Congratulations you’ve moved into your home!

1 2

Within 30 days of the start of the tenancy we will let you know which scheme your deposit will be held in. We will explainthe thevalue procedure forproperty retrieving your deposit at3 Step 1) also Assessing of your the end of your tenancy. This deposit Step 2) Choosing the right level of service is held to cover: 4

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the fees you have paid. The holding fee will be used to cover costs incurred by taking the property off the market and the application fee will be used to cover administration costs caused by your withdrawal.

provide proof of residency and eligibility to work in

Estate the agency terms explained 26 UK for the full proposed tenancy period.

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A. We may sometimes ask for further information to ensure your application is successful, but only if absolutely necessary.

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A. We will use your form to obtain references from your current landlord and your employer, and to confirm

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Q. Why do I need to complete an application form?

Q. Will Blue Sky need any other information apart from the details on the application form?

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We’re positive you will be pleased with the service we provide. However, should this not be the case we operate an internal complaints procedure, details of which can be found on our website www.freshBlueSky.co.uk. If this does not resolve your issue you may seek resolution through the above governing body and we agree to cooperate with and abide by any decision they make. Our commitment to you (the tenant) is that whilst we act for our landlord clients we will treat you fairly, with respect, and without misleading you in any way.

Q What if I am a non-UK resident?

FAQ’s 24 A. If you decide to pull out for any reason, we will keep A. If you are a non-UK resident you will also need to

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It is important that they understand the financial commitment they are making by acting as guarantor. We take references for guarantors in the same way as potential tenants. They will be required to sign the tenancy agreement with you, and will therefore be legally bound by its terms. A copy of our draft tenancy agreement will be sent to your guarantor(s) for approval if your tenancy application is successful, but if any guarantor wishes to see a copy before submitting an application, we will happily provide a copy. www.freshBlueSky.co.uk

We are a member of ARLA (the Association of Residential Letting Agents) and the Property Ombudsman Scheme. We take our responsibilities seriously and always act within legal guidelines as well as following our own codes of practice.

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A guarantor is someone who is financially able to make payments on your behalf should you be unable to. They will need to meet minimum income criteria. Please refer to the affordability calculator on page 4. More than one person can act as your guarantor.

For your peace of mind

Financial & legal elements

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Where the landlord requests one.

refunded if I change my mind?

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If the joint income of all the prospective tenants falls just below the minimum amount required. Please refer to the affordability calculator on page 4 of this guide.

Our services to you

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If you are making a claim for housing benefit in order to cover your rent payments.

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There may be occasions where we require you to have a guarantor. For example:

If the landlord has no objection to proceeding, we will require details of a person who can care for your pet in an emergency. We will also require an amount equal to one or two weeks’ rent as an extra deposit to cover any damage your pet might cause to the property. This deposit will be held in a government-approved Tenant Deposit Scheme. In some cases we may also require the carpets in the property to be professionally cleaned at the end of your tenancy.

Step 1) Assessing the value your 3 contract and thatof you areproperty currently in employment and Step 2) Choosing the right level of service earning enough to meet the financial requirements 4 Q. Are bills included in the rent? Step 3) Marketing your property of the tenancy agreement. It is crucial to provide 5 A. Unless we tell you otherwise, you should always Step 4) Choosing your estate agent accurate and honest information on your application6 assume that the rent quoted does not include Step 5) Presenting your property 7 form and disclose any facts you feel may be relevant. any bills. Step 6) Instructing a solicitor This will help to protect you and the landlord from 8 Step 7) Successful viewings and financial loss. 9 disappointment Q. If more than one person is moving into the Step 8) Receiving and accepting offers 10 property, whose income will you use to calculate Step 9) Progressing your sale 11 Q. What can I use to prove my identity? the affordability? Step 10) Preparing to move 13 Proof of IDyour would usually be a photo card driving 16 Completing sale A. If you’re moving into a property on a joint tenancy Step 11)A.  licence or passport, and proof of address would with someone else who will be sharing the rental usually be a utility bill or bank statement no more than obligations with you, we will base the rent you can two months old. If you have any queries about which afford on your total combined income. documents to provide please speak to a member of our lettings team, who will be happy to help. Q. Will my holding fee and application fee be

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Guarantors

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Selling with Blue Sky 1 your identity and credit history. We do this to ensure process 2 Frequently asked questionsThe selling there have been no breaches in your existing letting

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In addition to your deposit we will require two months’ rent paid in advance. This is to cover any delay there may be in setting up your housing benefit payments from the local authority.

We may seek to obtain a ‘pet reference’. This can be a written or verbal statement from your existing landlord or letting agent confirming that your pet hasn’t caused damage or nuisance to their property or that any damage was adequately repaired or settled before the end of your lease.

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A suitable guarantor. This is someone who is financially able to make payments on your behalf should you be unable to.

FAQs

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If you have a pet or are considering getting a pet, please let us know when you register with us, and we will do all we can to find you the right home with a pet friendly landlord. We actively encourage the renting of property to responsible pet owners. However, every landlord has a different view on tenants with pets, and it is at the landlord’s discretion whether or not to allow pets into their properties.

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If you are in receipt of housing benefit you will need to check when booking viewings that the landlord will accept housing benefit tenants. Different landlords will stipulate different restrictions and requirements. As a company we are happy to assist tenants in receipt of housing benefit as long as you can supply the following:

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Housing benefit tenants

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Q. What if I don’t get the information to you within three working days?

charge, but there are no fees to pay on debit card transactions.

A. If any of the information is still outstanding after three working days, the property may be remarketed and your holding fee will not be refunded. However, any application fees you’ve paid will be refunded to you in full.

B  ank transfers to our account – funds must have cleared in our account before the tenancy starts so we advise you to send your payment at least five working days beforehand.

Q. What happens if you don’t get responses from my references in the time required? A. If we can’t complete referencing because some information is still outstanding, after 15 working days we may put the property back on the market and your fees will not be refunded – so it’s in your interests to ensure that we have accurate contact details, email addresses and more than one phone number for all referees.

Q. What happens if I fail referencing? A. If you fail referencing we will notify you immediately and explain why. However, we will not refund your fees. We check application forms thoroughly to confirm that subject to the information you provide being accurate and varified there is no reason for you to fail referencing.

Q. What forms of payment can I use to pay the deposit? A. C  heque – We no longer accept cheques.

Q. How do I pay for my rent? A. You will be asked to set up a monthly standing order with your bank. Although we will supply you with a standing order form and write to your bank on your behalf, it is your responsibility to ensure it has been set up on your account and payments are made on time.

Q. Do I have to have insurance? A. It is not a legal requirement to provide insurance as a tenant. However many letting agents and landlords will want to see tenant insurance in place before agreeing a let. Good tenant insurance will protect you against financial loss should an accident happen i.e. a bath is left running, wine is spilt on a cream carpet, children draw on wallpaper etc.

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Contents

Estate agencySelling terms with Blue Sky The selling process explained – Glossary

1 2

Step 1) Assessing the value of your property 3 Step 2) Choosing the right level of service 4 Step 3) Marketing your property if the initial fixed term is for a year or more. A break clause5 ARLA – The Association of Residential Letting Agents, Step 4) Choosing estateinagent will usually your be worded such a way as to allow either the 6 ARLA, is the only professional body solely concerned with Step 5) landlord Presenting your property or tenant to give written notice at any stage after7a the self-regulation of letting agents. For nearly 25 years Step 6) Instructing a solicitor 8 particular date or period of the tenancy, in order to terminate ARLA has been actively promoting the highest standards Step 7) Successful viewings 9 the tenancy agreement earlier than the end of the original across every aspect of residential lettings and management Step 8) Receiving and accepting offers 10 in the private rented sector. term. your sale Step 9) fixed Progressing 11 Step 10) Preparing to move 13 Step 11) Completing your sale 16 Assured Shorthold Tenancy (AST) – An Assured CCJ – This stands for County Court Judgement – a Shorthold Tenancy is a specific type of lease/tenancy judgement against you for defaulting on a debt.

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agreement, which offers the landlord a guaranteed right to repossess his/her property at the end of the term.

Financial &areas legal elements Common – Areas of land or buildings such as 22

Bankers’ draft – Similar to a cheque, but the money is

FAQ’s where more than one resident shares access.

debited from your bank account, so unlike a cheque it is

gardens, hallways, recreational facilities and parking areas

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Estate agency terms explained 26

guaranteed to clear in the recipient’s bank account. You will

normally need to give a bank in the UK 24 hours’ notice and they will usually charge an administration fee.

Contract – When used in a renting capacity it often means the tenancy agreement or lease agreement, and is a legal

agreement between the landlord and tenant of a property.

Break clause – Also referred to as a release clause. A clause sometimes inserted in a fixed term tenancy, typically

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C  ard payments – we can accept debit and credit card payments on the day in our offices. Credit card transactions will be subject to a 2.5% transaction

C  ash or banker’s draft – we can accept these right up to the day your tenancy starts - subject to a 2.5% handling fee.

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Energy Performance Certificate (EPC) – An EPC

will say they are ‘jointly and severally’ responsible.

history of credit card payments, outstanding debt, arrears

output using a scale of A to G. It is a legal requirement

responsible for fulfilling ALL the terms i.e. each individual

and county court judgements (CCJs).

and the landlord’s responsibility to provide a valid EPC

return all the information required for their

contacting previous landlords and present employers (or

Lease agreement – Also referred to as the tenancy

Financial & legal elements 22 accountants if the tenant is self employed) and carrying

a landlord and tenant that reflect the negotiations

FAQ’s

agreement or contract. A formal legal document between

investigates professionals such as estate agents or solicitors when complaints are made by their customers.

legally protected against being moved.

Subject to contract – An agreement that is not yet

legally binding, as it is subject to the terms of the contract

being agreed and all parties signing to commit themselves to its terms.

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Ombudsman – An independent organisation that

Sitting tenant – A person occupying a property who is

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than one (adult) person living in the property, the tenancy

does not take up cases on behalf of individual consumers.

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Joint and several liability – Where there is to be more

useful guides to consumer rights and the law. The OFT

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such as garages, out-houses, sheds, gardens etc.

that businesses compete and operate fairly. They have

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Draft contract – A preliminary version of the contract.

for a further fixed term.

contracts and create a new agreement to carry on the let

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inventory covers all areas of the property that tenants use,

protect consumers, explain their rights, and try to ensure

(OFT) offers advice on all consumer matters. They aim to

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of condition and photographs. It is essential that an

expired or will shortly expire, you and the tenant sign new

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the contents of a property. Most will also include a schedule

Office of Fair Trading (OFT) – The Office of Fair Trading

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from the deposit.

Inventory – In its most basic form, an inventory is a list of

Renewal of contracts – Whenexplained a tenancy agreement26 has Estate agency terms

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property. The cost of the dilapidations is usually recovered

whole property.

between them and sets out their basic legal rights.

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Dilapidations – Any disrepair or damage to a rented

or do not have exclusive occupation of the

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government-recognised deposit protection scheme.

occupied by a number of individuals who share facilities,

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Assured Shorthold Tenancy must be registered with a

between them. It constitutes the entire agreement

out credit and imigration checks.

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Deposit scheme – All deposits paid by a tenant for an

House in Multiple Occupation (HMO) – A property

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tenancy application.

References – Checking a tenant’s ability to pay the rent

Our and services to you 17 their track record in earlier rentals. This often involves

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deductions within a given time.

of rent and their previous conduct as a tenant.

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end of the tenancy the tenant has to be notified of any

temporarily secure the property, giving them time to

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five weeks rent and is payable before moving in. At the

Holding fee – An amount paid by the tenant to

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and unpaid rent. This is usually an amount equivalent to

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by the landlord or agent for security against damage

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Deposit (security deposit) – An amount of money held

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regular income. Guarantors should be referenced just as a

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unable to pay them, so the guarantor will need to have a

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the tenant.

guarantor will be liable for rental payments if a tenant is

Step 1) Assessing the value of your property 3 Step 2) Portable Choosing Appliance the right level of service Test (PAT) – A test carried out by4a Step 3) competent Marketing person your property 5 to ensure all electrical installations and Step 4) Choosing your estate agent 6 appliances within a property are safe in accordance with Landlord – A person, persons, company or body with aStep 5) Presenting your property 7 the Electrical Equipment (Safety) Regulations 1994. 8 formal interest in the premises and the right to let Step 6) Instructing a solicitor Step 7) Successful viewings 9 the property. Step 8) Receiving and accepting offers 10 Premium lease – Where the rent for the property is paid Step 9) Progressing your sale 11 inPreparing full up front. Step 10) to move 13 Landlord reference – A reference given by a previous Step 11) Completing your sale 16 landlord, which confirms the applicant’s history of payment equally liable.

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obligations and ‘promises’ made by either the landlord or

rental payments and other obligations of a tenancy. The

the tenancy ALL tenants have breached and are

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Covenants – The terms of the tenancy agreement;

Guarantor – A person who is prepared to guarantee

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Company let – Let to a bona fide company.

Selling with Blue Sky PCM – Per calendar month. selling process just their share of it, and if one person breaches a term The in tenant is responsible for the whole rental payment, not

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when marketing a property to let.

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This means that any one person within the tenancy is

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measures the property’s energy efficiency and carbon

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Offer – The sum of money that a tenant offers to rent Contents a property.

Credit check – A procedure by which a check is made on

the credit history of an applicant. The credit check will reveal

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Notes Superior landlord – People or person to whom the

ownership of a property might revert at a later stage.

Superior lease or head lease – Where a property is

leasehold the landlord will be governed by the freeholder, otherwise known as the head lease, and the lease agreement between the landlord and the freeholder will place certain responsibilities and obligations/covenants on the landlord.

Tenant – A person(s), company or organisation who

is entitled to occupy a property under the terms and conditions of a tenancy agreement.

Tenancy agreement – Also referred to as the contract or lease agreement. A legal agreement designed to protect the rights of the landlord and tenant, setting out all the terms and conditions of the rental agreement.

The term of tenancy – The length or period of time the

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Contents Selling with Blue Sky The selling process

1 2

Step 1) Assessing the value of your property Step 2) Choosing the right level of service Step 3) Marketing your property Step 4) Choosing your estate agent Step 5) Presenting your property Step 6) Instructing a solicitor Step 7) Successful viewings Step 8) Receiving and accepting offers Step 9) Progressing your sale Step 10) Preparing to move Step 11) Completing your sale

3 4 5 6 7 8 9 10 11 13 16

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Financial & legal elements

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FAQ’s

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Estate agency terms explained 26

tenancy covers. Most initial tenancy agreements are for a minimum of six months.

Utilities – Also referred to as services.These are normally

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unoccupied by a tenant.

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Void period – Period of time when a property is empty or

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electricity, gas, water and sewerage.


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