Make an Offer – Lettings

Tenancy Application Information

We are a member of Propertymark which includes their Client Money Protection
Scheme and The Property Ombudsman. The information given below is provided to
ensure you are fully informed of any fees and costs involved in renting a
property through Ivy Gate LTD. Please note all fees shown are Inc VAT Please
note that lettings agents are required by law to publish on their websites
information for potential tenants about relevant fees, redress schemes and
client money protection schemes (including the names of those schemes). Relevant
fees must also be published on third party websites, such as Rightmove. For
properties to rent in England, details of the agent’s membership of any redress
scheme and client money protection scheme must also be published with their fees
on Rightmove. It is the agent’s responsibility to ensure that all relevant
information is provided to Rightmove and is up to date and accurate. If the
relevant information does not appear here, the agent may have included it within
the property description.

Reservation Payment and Referencing

We will ask for a maximum of 1 week’s rent as a reservation fee for any
property. This will be withheld if any relevant person, including any
guarantor(s), withdraw from the tenancy, provide materially significant false or misleading information, fail a Right-to-Rent check, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 14 calendar days (or other Deadline for Agreement as mutually agreed in writing). This reservation fee will go towards the balance of monies required at the start of the tenancy as outlined in the initial statement attached. To be considered for a tenancy you must complete an application and agree to be credit checked by an independent
credit reference company. Each person over 18 years who is going to be named as a tenant must fill in this application. You will then receive an email from a referencing agency that will provide you with a secure link to complete an online application. It is important that the completed application is submitted within 48 hours of receipt. Failure to complete the application within these timescales will result in the property being put back on the market to let and
part of your reservation fee will be retained by Ivy Gate. Applications are
independently assessed by a credit reference company who will make searches about you at a credit reference agency. The agencies will record details of the search whether or not your application proceeds. As part of the reference process I will require each named tenant, guarantor, and occupant to supply photographic evidence such as Passport, National Identification Card or Driving
License. All negotiations are ‘subject to contract’ and the tenancy start date
cannot be relied upon until satisfactory references have been received, the Landlord has given permission to proceed and the tenancy agreement has been signed. The first named tenant shall be deemed to be the lead tenant and will remain the lead tenant for the duration of the tenancy.

Refund Policy

If your application passes the credit check and the landlord declines to
proceed, the full reservation fee will be returned to you. However, should you
decide not to proceed with the tenancy, are unable to provide acceptable
references or indeed fail to submit the online application within the specified
timescales, the reservation fee will therefore be partially or in some cases
fully forfeited.

Guarantors

If the reference company advises that a guarantor is required for the tenancy,
then the guarantor will also need to complete an online reference. Please note that each guarantor will be jointly and severally liable for the payment of rent and all the terms and conditions in the tenancy agreement, should the tenant
default.

Joint Tenancy

If you are taking a property as joint tenants it is important that you
understand that each tenant will be joint and severally liable for the tenancy. Therefore, if one of the named tenants decides to vacate the property prior to the expiration of the fixed term, then the other named tenants will remain responsible for paying the full rent. In the case of joint tenancies, only one standing order for payment of rent can be accepted.

Stamp Duty Land Tax

It is the tenant’s responsibility to pay the Stamp Duty Land Tax, but this only applies to tenancies where the annual rent is greater than £125,000.

Security Deposit

The Security Deposit will be equal to 5 weeks’s rent and held during the tenancy against any damages. Usually this will be held by Ivy Gate as stakeholder under the terms of the tenancy deposit scheme, however on occasions your Landlord may
choose to hold this and register it accordingly. You will be notified if this is the case.

Payments

You will be given a statement for the money due and payment to us will need to be in cleared funds before the start of the tenancy. This payment will be for the first months rent and security deposit. If for any reason any additional payment is due, such as a large rent upfront payment, this will be explained to you and agreed by all parties, prior to signing contracts. Payment may be made by online bank transfer, unfortunately we do not accept card payments. You are
liable to pay rent from the start date of the tenancy, even if you moved in
after that date. Subsequent rental payments can only be accepted by Standing Order. Where the tenancy is joint responsibility, you will need to set up a joint bank account so the rent is received from one account. Unfortunately, we are unable to release keys for the property unless all initial funds have cleared, standing order mandates completed and contracts signed by all parties.

Fees

Ivy Gate do not charge fees or administrative costs to a tenant prior to tenancy starting. Permitted payments: For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or
anyone acting on the tenant’s behalf) the following permitted payments:
Variation of Contract: (Tenant’s Request): £50 per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the
preparation and execution of new legal documents. Early Termination: (Tenant’s
Request): Should the tenant wish to leave their contract early; they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy. Utilities, communication services (e.g. telephone, broadband), TV licence and council tax; Interest payments for the late payment of rent (up to 3% above Bank of England’s annual percentage 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. Change of sharer: (Tenant’s Request): £50 per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the
preparation and execution. Tenants are liable to the actual cost of replacing
any lost key(s) or other security device(s). If the loss results in locks
needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15
per hour for the time taken replacing lost key(s) or other security device(s)

Insurance

The Landlord will be responsible for the buildings insurance ad insuring any
items that have been left in the property prior to lettings. It is your
responsibility to insure your own belongings.