Fees
How to view and reserve a property with Nicholas Humphreys?
Once you have initially booked an appointment to view a property with Nicholas Humphreys, a representative from our office, will contact you on the day of your viewing to confirm you are still able to attend the viewing. We are unable to attend without your confirmation. If you miss a call from us, please get in contact at your soonest convenience. Should you wish to proceed with the property that you have viewed, all prospective tenants must attend our office with the physical copy of their passports in order to complete the reservation process.
A property will only be reserved once we have received a completed application form from all tenants and an appointment has been booked at our office to conduct the Right to Rent check. In the interest of fairness, we work on a first come, first served basis. Please be advised that your reservation will be terminated, and the property will be put back on the market if we are unable to complete the tenancy agreement due to absent documents.
Once we have received the above and requested documentation, your personal and designated guarantor details, you and your housemates will receive further information and documentation, along with the tenancy agreement to review and sign. From the point of reservation and the property being taken off the market, you will have 15 days to complete this process and sign your tenancy agreement.
Please note, we reserve the right to remarket the property and void your reservation of the property if the relevant documentation has not been signed and completed within the allotted timeframe (15 days). In all, if not the majority of cases, we will require a guarantor to put forward your application to the landlord for review. If for any reason you are unable to obtain a UK based guarantor, please communicate this to a member of our team and who will talk through other possible options available to you.
Rent
When will the rent be due?
- Your first instalment will usually be due the week before you move into the property. (e.g if the tenancy starts on the 1st July, your first rent instalment will be due on the 24th June). Your rent will normally be due on the 24th of each month thereafter
- Your rent is advertised at a weekly amount, please remember there are not 4 weeks in a month!
- To work out your monthly average please use the below method
52 x £***pppw / 12 (Months)
- We would recommend setting up a standing order to pay your rent. All details are documented on your tenancy agreement.
- If a rent payment is missed, you may be liable for a late payment charge.
- We appreciate that the initial payment due is usually the hardest payment for students to finance. When you sign your contract, please be mindful of the rent you are due to pay and ensure you have the funds to make the first instalment.
Joint And Several Liable Agreement
Throughout the tenancy, the tenants are viewed as a household, not as individual tenants.
How does this affect your contract?
- All reservation fees MUST be paid to take the property off the market
- All rents will be calculated for the household total and not individual rents
- We require all tenants to sign the contract before it is legally binding
The documents required to allow the household to move in must be returned by EVERY member of the household before keys can be released. This includes
- Student ID
- Right To Rent Documents
- Guarantor Form
- First instalment of rent
During your tenancy, you will continue to be viewed as a household, this means you will all be equally liable for the following;
- Ensuring all rents and utilities are paid on time
- The condition of the property is looked after by all tenants – we would recommend coordinating a cleaning rota for the household!
- Leaving the property how you found it! Deposits are deducted from the household so even if one housemate is messier than anyone else, the deductions are taken from the total deposit!
Guarantors
What is a guarantor?
- Our student tenancies require a guarantor as standard procedure. This is an adult who is over the age of 18 and either working full time or a homeowner in the UK.
- If for any reason you do not make your rental payment, your guarantor will be pursued by our arrears department to pay your rent.
- They will be sent a separate agreement to sign and return to us once you have reserved your property
What if I don’t have a guarantor?
You must inform us ASAP if you do not have a guarantor. In this case the landlord normally requires 6 or 12 months’ rent upfront before the start of the tenancy, but some landlords MAY have a different policy.
Retainer Periods
- This is a period over the summer months in which you will pay a reduced rent (July or August) for non-occupancy.
- We are aware that a lot of tenants do not want to stay at the property for the whole of summer, by offering the retainer it helps to make the first instalment of rent more manageable.
- Often tenants will want to move their belongings in during over the retainer in order to avoid transporting everything home. Tenants are more than welcome to leave their belongings at the property, we will ask them to leave everything on their bed and also label their possessions.
- If tenants want to move in during the retainer, they will have to pay the rent in full, if this is the tenant’s intention, they will need to contact the office ASAP to make the arrangements.
- If your property has a retainer period, this will be clearly stated at the bottom of the property description on the advert
Deposits
- The deposit varies from property to property, the most common amounts will either be £250 per person, the equivalent of a month’s rent or four weeks rent,
- Please refer to the description for the deposit amount for the total per person.
- Deposits are normally due to be paid on card when you sign your tenancy agreement and are paid through our website on your credit or debit card.
What happens if your plans change and you want to leave your tenancy?
We understand that sometimes our tenants plans change, and they no longer need the room they have signed to.
What steps do you need to take?
See HERE for more information.
Utility bills
Some landlords offer a bills inclusive option, often the cheapest way is to pay the utility companies direct and set them up in your own name, however due to the time saving, convenience and ease of budgeting a large proportion of tenants choose a bill-splitting provider to provide the utilities.
