Finding somewhere to live can be time-consuming and sometimes stressful, especially if you are new to London. At Day Morris we listen to your requirements and aim to show you only the properties that can match them. We are happy to advise you on any aspect of renting a property. For a few basic tips see below. Whether you are looking for a family house or a studio flat, we hope to find you a property where you will feel at home. Many of our tenants come back to us when they are looking to rent again.
Renting a property – some tips
If you are new to renting, or to renting in London, the sheer number of properties and agencies may overwhelm you. Many people find somewhere to live through friends or through advertisements on websites, in newspapers and in shop windows. If you are looking for a flat-share, or want to rent a room only, these will be the best methods, as most agencies only let self-contained properties, with their own kitchen facilities and bathroom.
If you are using an estate agent or letting agent you should check that they are members of the National Association of Estate Agents (NAEA) or Association of Residential Letting Agents (ARLA). This will ensure that they abide by a professional code of conduct. Check whether they charge an agency fee (most agents do) and how much it is. This is separate from the holding deposit, which an agent may ask for when you have found somewhere you wish to rent. Don’t hand over any money until you are sure you want to take the property and the owner has accepted your offer. Once the agent has taken a holding deposit they should not show the property to anyone else.
Renting through Day Morris
If you are looking for a property through Day Morris and find somewhere you like, we will contact the owner and tell them about you and how much you are offering to pay in rent. If they accept the offer and you agree on the move in date and the length of the tenancy we will then take a holding deposit from you of two week’s rent and the cost of the referencing while we take up the references. When you are ready to sign the contract and move in we take one month’s rent in advance, a further four weeks’ deposit (making six weeks in all) and our contract fee of £150.00 (inc VAT). After that you will usually pay rent monthly by standing order, either direct to the landlord or via Day Morris, unless other arrangements are agreed.
The law has now changed to give tenants more protection and ensure that deposits are not unfairly withheld at the end of the tenancy. All landlords and letting agents must hold deposits in one of three protection schemes and inform the tenant within 14 days of taking the deposit which scheme they are using. We are advising all our landlords to have a professional inventory done at the beginning of the tenancy to minimise the risk of a dispute. The landlord pays for this. At the end of the tenancy a check-out inventory is done, and this is paid out of the tenant’s deposit. We believe this is in both parties’ best interests.
These reports also known as Check-in and Check-out reports are collated by an external company who charge for their service depending on the size of property and the quantity of its contents. The cost for both reports are split between Landlord and Tenant with the Landlord normally paying for the Check-in and the tenant paying for the Check-out. The cost for this service can be advised upon request and when based on a specific property.
Our Tenant Fees
BEFORE YOU MOVE IN:
SET UP FEE (tenant’s share) – £250.00 (inc VAT) for up to 2 tenants
This is comprised of £150 Contract Fee – Per Property / £100 Referencing/Credit Check – (£50 Per Tenant).
Referencing up to two tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.
Additional Tenant Fee – £50.00 (inc VAT) per tenant
Processing the application, associated paperwork and referencing.
Guarantor Fee – £50.00 (inc VAT) per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.
Permitted Occupier Fee – £0.00 (inc VAT) per permitted occupier
Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy.
Check-Out Fee – £60.00-£500.00 Dependant on size and contents of Property (inc VAT)
Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services.
Pet Deposit – Returnable additional Security Deposit of 2 WEEKS RENT
To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy.
DURING YOUR TENANCY:
Amendment Fee – £62.00 (inc VAT)
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy.
Renewal Fee (tenant’s share) – £0.00 (inc VAT)
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
ENDING YOUR TENANCY:
Check out Fee (tenant’s share) – £60.00-£500.00 Dependant on size and contents of Property (inc VAT)
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s).
Future Landlord Reference Fee – £0.00 (inc VAT) per reference request
Collating information and preparing a reference for a future landlord or letting agent.
OTHER FEES AND CHARGES:
Lost Security Items – £0.00 (inc VAT) plus item cost
Obtaining necessary permissions, sourcing providers and travel costs.
Out of Hours Services – £0.00 per hour (inc VAT) plus any actual costs incurred
Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the hourly rate.
Unpaid Rent / Returned Payments – Any costs incurred for such will be passed on to the tenant
Professional Cleaning (if required) – £TBA (inc VAT) which will be deducted from the Security Deposit. Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF