Tenant Guide

How Much Is Renting My Property Going To Cost Me?

When you apply for a property you will be given a preliminary advice sheet which will set out the approximate amount you will be paying on or before your Tenancy commencement date. This will be followed by a formal statement which you will receive with your Tenancy documents. As a general guide you will need to budget for the following:

  • One month's rental in advance
  • A Deposit (normally equivalent to 1.25x monthly rent)
  • Kings administration fees (currently the most competitive amongst all local Agents)
  • Inventory 'Check in' charge (dependent upon the size of the property and the independent inventory clerks' fees – the Landlord will normally pay for the 'Check out' charge)

What Information Will I Need To Supply?

You will be asked to complete an Application form, including a sheet entitled 'Important Information for Tenants'. Please read it thoroughly and carefully (you will be asked to sign that you understand its content). On the form you are asked for personal details including: your current address and length of residence, landlord's (or agents') name and address (if you are renting already), employment details, your date of birth, and National Insurance number. You will also need to provide photographic identification and proof of current residence (such as a utility bill). Attached to the Application form is a Bank Status Enquiry form which you complete and Kings will then send to your bank. Your bank should then respond to Kings and confirm whether they feel that you are financially able to support the anticipated rental. In certain circumstances we may also carry out a credit check (which will cost you a small additional sum). If one or more of your references is unsatisfactory you may be asked to provide a UK based guarantor (whom would be jointly responsible with you for the tenancy and whom will also need to provide references and sign the Tenancy Agreement with you).

When you return the Application form you will be asked to pay a preliminary payment of £200, towards the costs detailed above. This is purely an advance payment to show your bone fide intent, but does not guarantee the property remains available for you, until negotiations and documentation are completed. On Tenancy commencement, this amount will be deducted from the total amount payable, however if you decide to withdraw from the application once this amount has been paid, it is non-refundable. If the Landlord should decide not to proceed, the £200 can either be credited to an alternative property or returned to you (unless the Landlord's decision has been made as a result of unsatisfactory references being received – in which case the £200 remains non-refundable).

How long Before I Can Move In?

Referencing and administration normally take about one week to ten days; however, in certain circumstances, this time can be reduced. Most Landlords are happy with an Application which proceeds to commencement within one month. If you do not intend to move within one to two months it may be that you are looking for something too early. Landlords will not generally 'hold' their properties for applicants longer than 3 to 4 weeks – as this can result in loss of rental for them.

Who Deals With The Property's Maintenance Issues During The Tenancy?

This will depend on who 'manages' your property. When you move in, you will be given a 'Welcome Letter' which tells you whom to contact in the case of any arising maintenance matters. Generally this will be either Kings or your Landlord directly. If the property is "fully managed" by Kings, we have a 24 hour helpline for you to contact for advice and/or emergency situations.

What Happens At The End Of The Tenancy?

You will meet with an independent inventory Clerk, and/or your Landlord, on the last day of Tenancy, to check through the Inventory, read the meters, and release the keys. Before that meeting, Kings will provide you with guidance notes to help you through the procedure.

What About My Deposit?

From the outset of Tenancy, your Deposit is safely held in a bonded account and Registered with The Dispute Service. When you move in, you will be given a Deposit Registration Certificate and details of what happens at the end of your Tenancy in this regard. No one can deduct anything from your Deposit without formal notification and/or your agreement.