Securing the property
In order for the property to be reserved, we will require a Holding Deposit of 1 weeks rent. (rent x 12 / 52 = 1 weeks rent)
This deposit is non-refundable until such time as your references are successful and you have completed the Right to Rent check and signed the Assured Shorthold Tenancy Agreement. There is a deadline For Agreement of 15 calendar days from the date the monies are received to complete the required checks and documentation.
The Letting Agent or Landlord who received the Holding Deposit can keep it if the Tenant:
- Provides false or misleading information which the Landlord is reasonably entitled to consider in deciding whether to grant the tenancy because this materially affects their suitability to rent the property.
- Fails the Right To Rent check, regardless of when the deposit was accepted.
- Doesn't enter the agreement by the deadline.
- Is dragging their feet and not responding to emails, not giving the referencing agency what they need for longer than 15 days.
- Withdraws from a property (unless the Landlord or Agent impose a requirement that breached the Tenant Fee Bill or acted in such way to the Tenant that it would be unreasonable to expect a Tenant to enter into a Tenancy Agreement with them).
- Fails to take all reasonable steps to enter into a Tenancy Agreement and the Landlord or Agent takes all reasonable steps to do so (unless a Landlord or Agent imposes a requirement that breaches the Tenant Fee Bill or acts in such a way to the Tenant or relevant person that it would be unreasonable to expect a Tenant to enter into a Tenancy Agreement with them).
If the landlord’s situation changes and subsequently the application is terminated then the Holding Deposit will be returned.
Once Coopers have received the Holding Deposit they will submit the reference applications, these will come from Homelet. Once received please complete and submit as soon as possible.
Part of our reference criteria is the combined earnings of the tenant/s must equal or be greater than 30 x the monthly rent level. For example – rent is £1,000pcm so salaries (before tax) must be a minimum £30,000.00 per annum. (Please note you are not permitted to register a business at the property).
If self-employed we require tax returns for the last tax year or an accountants reference showing income after expenses to be 30 x the rent level.
County Court Judgement/s: Having a County Court Judgement of any amount, settled or unsettled within the last 6 years will result in a failed reference. Unfortunately the tenancy will not proceed. Please inform us if you have a CCJ before paying the Holding Deposit.
It may be agreed by the Landlord for the Tenant to provide a guarantor. If this is the case the guarantor will be obligated to provide successful references with an income of 36 x the monthly rent, provide photo identification and proof of address.
Should the reference checks or return of papers delay the start date then you hereby agree that the tenancy shall still commence at the date agreed on these terms but you are not permitted to occupy the property until the satisfactory paperwork is completed.
Deposits and Rent
Given satisfactory references you will be offered the tenancy of the property subject only to the terms of the Tenancy Agreement.
- If rents/deposits etc. are payable by cheque we must have at least seven banking days for clearance of that cheque.
- Rent is always paid calendar monthly in advance, the first payment being made by Bank Transfer, Bank/Building Society cheque or cash. Subsequent payments are by Standing Order. If the payment of rent is late for any reason, interest may be payable.
- The deposit required acts as security for the performance of your obligations as a tenant under the tenancy agreement. This deposit will be returned to you at the end of the tenancy terms without interest, and subject to dilapidations or any deductions that may be necessary to compensate the landlord for any breach of the tenancy agreement. Please see our Tenancy Agreement for complete details of how the Tenancy Deposit will be dealt with at the end of the Term.
Coopers Lettings is a member of the Tenancy Deposit Scheme. Please see our Tenancy Agreement for details.
Tenant fees schedule
Unpaid Rent: Interest at 3% above the Bank of England Base 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.
Lost key(s) or other Security Devices: 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 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 (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request): £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request): £50 (inc. VAT) 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 of new legal documents.
Early Termination: 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.
Non Housing Act Tenancies (Company Lets)
Tenancy set up fee: £500.00 + VAT (£600.00)
Tenancy renewal fee: £250.00 + VAT (£300.00)
Check out cost at end of tenancy: £220.00 + VAT (£264.00)
Moving in process
Once references are completed and accepted the Assured Shorthold Tenancy Agreement will be sent, this can be signed online electronically. Once we receive the Assured Shorthold Tenancy Agreement signed from both parties we will require the remainder of the funds clear in our account. Upon receiving this monies we will confirm the time of key collection.
Upon collection of keys all tenants will be required to produce their Passport and VISA once again in person, in branch. Failure to do so could result in a delayed key release.
Coopers are a member of CMP Propertymark, which is a Client Money Protection Scheme , and also a member of The Property Ombudsman, which is a Redress Scheme.
It is the responsibility of the landlord to insure the building and their contents, however it is the responsibility of the tenant to insure their own contents. Coopers can refer you to HomeLet who specialise in Tenants and Landlords insurance and they can provide you with a no obligation quotation as one of the options in the market.
Coopers are a member of the Property Ombudsman and the Client Money Protection Scheme. Please ask a member of staff if you have any questions about our fees.
Request a valuation
If you'd like to know what your home might be worth, we'd love to offer you a free valuation. Simply register your interest using the enquiry form below and one of our staff will be in touch to introduce themselves.