Tenancy Application / References
When a suitable property to rent has been found, we will record the details of your offer and inform the Landlord, if your offer is accepted (subject to contract and satisfactory references) all persons over the age of eighteen will then complete a RENT4SURE referencing application form, provide photographic identification and proof of address. Under the Immigration Act 2014, all tenants need to pass a Right to Rent check by providing Passports, visas and work permits.
A holding deposit equivalent to 1 weeks rent is required to reserve the property for 15 days. If the application is going to take more than 15 days to negotiate and issue a tenancy agreement, then this time frame can be extended, but must be mutually agreed in writing with the landlord. If your tenancy application is successful, the holding deposit will go towards the initial rent and deposit.
The holding deposit will be retained if the relevant person (including any guarantor(s)):
- Withdraws from the tenancy
- Fails the Right to Rent check
- Provides false or misleading information
- The tenant or guarantor drags their feet
Security Deposit Options
A deposit equivalent of 5 weeks rent, or 6 weeks where a rent is over £50,000 per year is required, before the start of the tenancy, payable to Waterfalls Sales & Lettings in cleared funds (bank transfer, debit or credit card). The deposit will normally be held by us as stakeholders, but please check the Tenancy Agreement before signing. Should a dispute arise at the end of the tenancy, no monies can be released until both parties agreed or a decision is made by the Tenancy Dispute Service. In most cases, however, where no dispute exists, the deposit will be returned (repaid by BACS) as soon as possible after the expiry of the tenancy.
Zero Deposit Guarantee Scheme
This option is subject to the landlord’s approval and is an alternative to a cash deposit. The Zero deposit option will cost a week’s rent. For further information please visit https://www.zerodeposit.com/. This option must be in place 15 days prior to the commencement of the tenancy start date. Waterfalls Lettings receive a commission on this product.
Payable monthly in advance unless separately negotiated by one Standing Order. Rent is paid from your bank account 3 days prior to your rent due day to ensure funds reach us/your Landlords account on the rent due day. The rent is not inclusive of any bills unless separately negotiated.
Please note all Tenants named on the Tenancy Agreement and any Guarantor must sign the necessary documentation before commencement of the Tenancy and keys will not be released until this is the case.
The tenants are required to attend an inventory check in at the property where the keys will be released to you.
On expiry of the tenancy the inventory will be checked against the current state of the property to determine any damages.
A Tenant can be charged for
- Rent arrears default fees – interest at 3% above the Bank of England base rate from rent due date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
- The actual cost of replacement keys and security devices
- At the tenant’s request – reasonable costs for change of sharer £50 (Inc VAT) or any reasonable costs incurred if higher
- At the tenant’s request – reasonable costs for a variation of contract for example pets £50 (Inc VAT)
- At the tenant’s request – should you wish to terminate your contract early; you shall be liable to pay the landlords cost in re-letting the property as well as all rent due under the tenancy until the start dated of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Waterfalls Sales & Lettings may pass your name and address details onto relevant interested parties, e.g.
utility companies, landlords etc. By signing this form, you give permission for us to do so. If you have any queries regarding this, please do contact us before completing this form
It is recommended that tenants insure their contents prior to the commencement of the tenancy as the Landlord’s insurance policy will not cover any personal belongings or items of furniture or equipment belonging to the tenant.
Please note Waterfalls will not accept any cash over the value of £500.00 in the office or paid over the counter in a bank or building society. Monies must only be paid by bank transfer or in the office on the Cardnet machine.
Tenants, in an out-of-hours emergency, please click here: https://www.waterfalls.co.uk/emergencies/
Waterfalls Sales & Lettings are a member of the Tenancy Deposit Scheme (TDS), The Property Ombudsman and
Property Mark Client Money Protection Scheme (CMP).