TENANTS
There’s no doubt that moving into a rental property for the first time can be overwhelming, but with MO&AG we make the transition smooth and transparent.
We pride our selves in our simple step by step guide for both first time renters and renters with previous experience.
THE PROCESS
FAQ’S
I need to find a place to rent. What do I do first?
Before you start searching for your new home it’s a good idea to write down a budget. What are your current outgoings and what money do you have left each month to spend on rent? As well as the rent, consider any other costs involved in moving home and renting a property including deposits, household bills, removal costs and any other costs. Please be advised that you will need to earn 2.5x the rent to qualify to rent any of our properties.
What does referencing involve?
Tenants applying to rent need to give details of their employer and income, their previous address, and their previous landlord contact details/ These will be checked to ensure they are able to commit to monthly rental payments and that they have a good rental history.
Why do I need to be referenced?
The landlord needs to be sure that their tenant won’t have any problems paying the rent on a monthly basis and that the tenant will take good care of their property, we are trusted by the landlord to reference properly to ensure we find a suitable tenant for their property.
Do I need to show ID?
As part of the referencing process and in order to satisfy Right to Rent legislation we will need to check certain ID and confirm a tenant is who they say they are.
What if there are problems with my reference?
In some circumstances, a tenant may not be approved immediately via referencing. Obvious examples are students without a regular income, or someone leaving their family home for the first time with no renting history. This is not uncommon, and there are still options for tenants in this position. With the Landlords agreement, they could pay the rent for the full term up front, or seek out a guarantor. your Agent will advise you on your options.
What is a guarantor?
If a tenant is not fully approved by the referencing process, they can ask a guarantor to support them as long as the landlord agrees. A guarantor (usually a parent or guardian) will agree to take responsibility for the rent if the tenant fails to pay. Guarantors are required to pay any rent arrears (if the tenant does not pay) and for any damages costing more than the deposit. The Guarantor will need to be based in the UK and will have to be homeowner or a director of a limited company.
Why does my guarantor have to guarantee all tenants?
In the case of a tenancy with multiple tenants, the tenancy agreement makes all tenants jointly responsible for all rents and responsibilities. There is no individual ‘share’ of the rent written into the agreement. The guarantor therefore has the same responsibility.
Why do I have to pay a deposit?
The landlord trusts the tenant to keep the property in a good condition and in good order. The deposit is held to ensure that any damages (over and above fair wear and tear) can be corrected at the end of the tenancy. Landlords and letting agents are required to register your deposit with an approved Tenancy Deposit Scheme. You will receive details of the scheme, explaining where your deposit is held.
What is a tenancy agreement?
A tenancy agreement is a contract signed by both the tenant and the landlord. It outlines all the rules to which both parties must comply.
Who is responsible for the management of the property?
The landlord is responsible for maintaining the property. They will either take care of this directly, or do so via a letting agent. the Agent will advise you on who to go to for any issues during you tenancy.