For Tenants

Here's our guide to the letting process from a tenants point of view, including the fees you'll need to pay, and when you'll need to pay them.

One we have received satisfactory references for each proposed tenant, you will be offered the tenancy of the property subject to the terms of the Tenancy Agreement.

What will I need to pay when I accept the tenancy?

If you decide to go ahead with the tenancy, we will need to have received the following payments, minus your £400 holding deposit, in cleared funds the day before your tenancy starts:

• First month's rent This will vary according to the property, and can be paid by bank transfer, cheque or cash
• Deposit Equivalent to one month's rent. More details below.

If you make any payments by cheque we must have at least seven banking days for it to clear.

Deposits

The deposit acts as security for the landlord that you will carry out your obligations under the Tenancy Agreement. Your deposit will be held in an independent deposit protection scheme called My Deposits.

As long as you fulfil your obligations, your deposit will be returned to you at the end of the tenancy, minus any deductions for damage or dilapidations that may be necessary to compensate the landlord. My deposits also offers a means of independent resolution should you dispute the deductions (find out more).

Please see your Tenancy Agreement for complete details of how the tenancy deposit will be dealt with at the end of the term.

Inventory

We strongly advise both landlord and tenants to have a professional inventory compiled in order to provide independent view of the condition of a property and any contents at the start of a tenancy, so that any dispute of damages or dilapidation at the end of the tenancy can be avoided. Fair wear and tear will be taken into consideration.

The Landlord will pay for the compilation of the inventory and the Tenants will pay the check out fee. We can arrange the inventory to be carried out by an independent inventory clerk, and will provide a quote at the time.

Other costs

An administration charge of £30 is charged if we have to send a second late payment reminder letter and £60 for a third letter.

Should you wish to terminate your tenancy before the end of the term and the landlord agrees that you can terminate early, you will be responsible for the repayment of the pro rata commission paid in advance by the landlord for the unexpired portion of the tenancy, unless you are exercising a break clause which is contained in the tenancy agreement.

Monthly rental payments

Rent must be paid each calendar month in advance, and must be made by standing order. If the payment of rent is late for any reason, interest may be payable.

Multiple tenants

Where a number of tenants share a property, rent must be paid in one standing order only, for the entire month's rent.

Each tenant is jointly and individually responsible for the whole rent, and equally liable for the non-payment of rent by one of their co-tenants should they fail to pay.

Insurance

It is the responsibility of the landlord to insure the building and any fittings or contents provided, but it is the responsibility of the tenant to insure their own belongings. Lumo Properties will refer you to our recommended insurer HomeLet Insurance who will contact you to supply a no obligation quotation.

LUMO Properties accept no responsibility should the tenancy start date be delayed for any reason caused by the landlord, current tenant or yourselves.

Should the reference checks or return of papers delay the start date, the tenancy shall still commence at the date agreed but you will not be permitted to occupy the property until the satisfactory paperwork is completed.

If there is anything else you need to know, give us a ring on 02038 134 009.

Lumo Properties is a member of the Property Redress Scheme.