Your group
You will need to decide how many people are in your group before you start looking at potential properties. Once you have decided on a home for the next year and signed the agreement, you are all jointly liable for the rental payments. Pick friends you can depend on, as the monthly rent is for the whole house and not per room, so if one person defaults you may end up paying more than your fair share of the rent.

Holding the Property
Once you decide on your house you can secure the property with a "secure deposit" which is deductable from the "security deposit" (one months rent). Lets estates asks that you pay an admin fee, per student, in order to hold the house (£35+vat).

This fee covers:
Applicant's Credit Reference
Guarantor's Credit Reference
Tenancy Agreement
Notification to Utility Companies
Other Administration Costs, inventory, etc

Once all the applicants' administration fees have been paid we will hold the property whilst we prepare the paperwork and arrange for referencing checks. The administration fee is non-refundable should you decide not to take the house or if credit references fail. It will only be refunded in the unlikely event of the house not being available to move in to, or if it is withdrawn by the Landlord.

Credit References and Guarantors
We carry out a full credit reference on all Tenants through an independent agency. When you have secured the property, we will then begin the referencing checks. As a student income is unlikely to satisfy our credit reference agency for rental payments, we request details of someone who can guarantee your payments.

The guarantor will be liable for rental payments if you are unable to pay them, so they will need to have a regular income. In order to process your application for tenancy, we require the completed form returned to us within 3 weeks. If all Tenants' guarantor forms are not received by then, the house will be re-marketed and the deposit will be lost.

A - it is unlikely you will fail the credit reference as you will have a guarantor. However, should your guarantor fail the checks you can ask someone else to complete another guarantor form. Common reasons for failure of references are adverse credit history and insufficient income. Your guarantor will need an income of at least 3 times your proportion of the rent.

Your Tenancy
Most tenancies will run from the 1st August 2004 to the 30th June 2005 (11 months) at full rent unless specified otherwise. When all references have been successfully completed, a Tenancy Agreement will be drawn up, to be signed by all guarantors and Tenants.

After the agreement has been signed, you will be responsible for finding a replacement Tenant or paying the remaining rent between you if one of the group doesn't move into the house

Rent and Deposit
We will ask for the first month's rent and a "security deposit". The "secuirty deposit" will be held by either Lets Estates or the Landlord depending on the service the Landlord has with Lets Estates. This is a returnable deposit subject to the condition of the house and any rental arrears at the end of the tenancy.

Payment and Maintenance Information
Rent is to be paid by standing order on the rent due date. It is always recommended that you keep a record as proof of your payments.

We offer three levels of service to our Landlords and the service they choose will effect who you pay the rent to and who you call for maintenance problems. We will give you this information once you have chosen a house and full details (i.e. phone number and bank account details) when you move in.

Please ensure you have sufficient funds to pay the rent on the due date as it is unlikely that you will receive your Student Loan cheque until the end of September and this may be too late to meet your rental obligations.

Gas Safety
We have a legal duty to provide a certificate to prove the gas appliances in the house have been checked and are safe to use. We will provide you with a copy of this certificate when you move in. However, as this check needs to be done annually, should the renewal date fall whilst you are living at the house you will need to provide access to a gas contractor. This is for your own safety.

Renewing the Tenancy
Should your Landlord wish us to rent the house again for another academic year we may give you the opportunity to extend the lease. An administration fee will be payable and full details of this will be provided by the Lets Estates.

If there are any changes in the original group (i.e. 2 stay and 2 leave) we will need to draw up a completely new tenancy and full administration fees will be charged.

Possessions will only be allowed to remain in the house with the Landlord's permission during void periods.

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