Guide to renting a property
Nash Partnership is proud to have been awarded the coveted ARLA PropertyMark so you can be sure of best practice when you rent with us, including helpful advice and transparency of charges. If you have rented a property before, you may already be aware of many of the procedures involved, but for those who have not, we hope you’ll find this checklist useful.
Fixing a budget
When working out your budget, be mindful that letting agents will have strict affordability guidelines they must stick to as part of their referencing process. The way rent affordability is calculated differs slightly from agent to agent, but it is usually based on a percentage of your yearly salary. Commission or overtime are not generally counted in these calculations but, in certain circumstances, savings can be.
When fixing your budget, remember to budget for bills as well as rent – think council tax, contents insurance, utilities, cable subscription, travel costs, etc.
Working out your requirements
Write a list of the essential factors for your next home, including the type of property and location, as well as details about who will be living there. The list might include:
- What sort of location you are looking for (town; rural; close to schools; close to transport; close to shops; close to countryside, etc – take a look at our Area Guides for a rundown of some of the towns and villages we cover).
- How many bedrooms, living rooms and bathrooms you require.
- Whether you require a furnished or unfurnished property, or whether you’re flexible.
- Who will be living at the property, including ages of any children.
- If you have any pets you want to be able to have in the property.
- How long you are looking to rent for.
- If there’s a specific date you need to move in by, or to wait for?
- If there is adverse credit history that may apply to anyone intending to live at the property.
- Take a notepad and write down any questions you may have. This will also help you to remember what you’ve seen and not to confuse one property with another – easily done!
- Ask as many questions as come to mind about fixtures and fittings, the neighbourhood, the landlords, etc.
- Make time to view when suitable properties become available – the rental market in
- Berkhamsted and Tring is fast moving, so make viewing times a priority.
- Stay in the neighbourhood after looking at properties and soak up the atmosphere, or go and explore the local amenities.
- If you are moving to an area you are unfamiliar with, take a dummy-run of any commute or regular journey you’ll be making.
Applying for a tenancy
- Submit full details of all tenants to be included in the rental contract.
- Mention any fixtures or fittings you would like included.
- Provide a proposed moving in date and length of tenancy.
- Provide details of any children and pets who will be living at the property with you.
- Provide two forms of ID for all tenants and any guarantors (your passport plus a recent utility bill or bank statement no more than 3 months old).
- Complete tenancy application forms and pay your referencing fee (see table below).
Signing the tenancy agreement
- We will provide three identical copies of the tenancy agreement, which we ask you to read carefully, then sign and return to us.
- Ask immediately – and before you sign – if you unsure about anything in the tenancy agreement. Remember, the agreement is a formal document that legally binds you to its terms.
- Transfer your first rental payment, security deposit, check-in fee (if applicable), inventory fee (if applicable) and deposit registration fee (see table below).
- Arrange a time to take possession of the property.
Moving day will be busy, so make a checklist of jobs that need to be completed before and on the day, including:
- Book a removals firm.
- Redirect your post.
- Tell your friends and family where you’re going.
- Read the meters and inform utility companies of opening meter readings.
- Cancel any services or subscriptions (internet, cable TV, contents insurance, etc) at your old address and set up new ones at your new home.
- Change the address on your TV License.
- Inform the relevant local authorities that you’re moving for Council Tax purposes.
We hope you find our guide useful. For further information, essential if you have found a property to rent through Nash Partnership, we recommend you read our full Guidance Notes for Tenants publication.
The asking rent does not include letting fees or utilities (ie. gas, electric, water, council tax, TV licence, telephone or internet charges).
Summary of Tenant fees
Depending upon your circumstances and the property you select, the following fees may apply. All fees are inclusive of VAT:
- Tenancy application administration fee - £185.00 per person
- Guarantor application administration fee - £185.00 per person
- Company application administration fee - £360.00 per company
- Check-in fee - Varies, £96.00 to £198.00 per tenancy
- Deposit registration fee - £24.00 per tenancy
- Tenancy extension/renewal fee - £72.00 per fixed period extension
- Change of any individual tenant (mid tenancy) - £300.00 per person
- Late payment penalty fee - £18.00 per late payment
- Early termination fee (solely at the Landlord`s discretion and subject to certain conditions) - £1,000.00
Methods of payment
We are able to accept payments by cheque or online banking, however payments by cheque will require at least eight clearing days to show as cleared funds in our account. We recommend payments are made using online banking. Please note that rent and deposit payments cannot be made by cash.
Fees may be charged on a per property or per tenancy basis. Please contact us to discuss our fees for this property in more detail.