Telephone us on: 020 3002 9002

The Knowledge - The Rental Process

The Rental Process  

1. We find you a property you would like to rent.

2. A one week holding deposit is paid if you wish to make an offer.

3. If the offer is accepted and dates agreed the deposit will come off your final move in costs. If the offer is not accepted or there is a problem with referencing the holding deposit would be returned to you immediately minus the referencing cost.

4. Referencing is carried out – the annual rent will need to be covered by 2.5 times your income (combined of all tenants on the contract). Employment reference, previous landlord reference and credit check. If you are a student or are overseas based or don’t cover the required criteria a UK based guarantor will be required.

5. The contracts are drafted and signed prior to move-in as well as the remaining deposit, first month’s rent, admin charge, and referencing.

6. On the day of move-in depending on the service your landlord has chosen we may go to the property with you and ‘check you in’ taking meter readings and handing over keys or there may be a professional inventory carried out. If there is an inventory you will have 14 days to check all the details before signing and returning. You will then receive by email from the chosen 'tenancy deposit scheme' confirmation your deposit has been registered.

Fees and Terms for Tenants

  • We take pride in operating with transparency at all times.
  • Please see below for our terms & conditions and fees for tenants

Standard tariff of tenant charges

Absolute Living want you to be aware of the circumstances where you may incur a fee or charge in relation to a tenancy arranged through us, including during the application process. This Tariff details the current fees and charges, which include VAT at 20%. The fees and charges shown are payable to, and will be invoiced by, us.

We reserve the right to amend the fees and charges in this Tariff to reflect changes in our operating costs. A copy of the up to date Tariff at any time can be obtained from www.absolute-living.co.uk. Where you have signed an Information and Terms & Conditions for Tenants Form no fees and charges in any amended Tariff will affect you unless the amendments are expressly permitted by that form and have been notified to you.

Individual tenant reference fee

  • To cover the cost of a professional tenant referencing service providing a reference on a potential individual tenant. If the tenancy proceeds, payment is due at the time of payment of deposit and first installment of rent. Not payable if the tenancy does not proceed. Note: the fee is per tenant to be named on the tenancy agreement – e.g. two named tenants = two fees.
    Amount: £45.00 including VAT

Guarantor reference fee

  • To cover the cost of a professional guarantor referencing service providing a reference on a potential guarantor. If the tenancy proceeds, payment is due at the time of payment of deposit and first installment of rent. Not payable if the tenancy does not proceed. Note: the fee is per guarantor to be named on the tenancy agreement – e.g. two named guarantors = two fees.
    Amount: £45.00 including VAT

Tenancy agreement fee

  • Payment is due at the time of payment of deposit and first installment of rent. Note: the figure shown is the tenant’s usual contribution to the total cost of drawing up the tenancy agreement and assumes the landlord is using Absolute Living to prepare the tenancy agreement. The fee may vary in other circumstances.
    Amount: £264.00 including VAT

Inventory check-out fee

  • Payment is due at the time of payment of deposit and first installment of rent. The amount due will depend on the amount charged by the independent inventory clerk engaged by us and will be notified to the tenant once it has been notified to us.
    Amount: 108.00 including VAT but is dependent on the inventory service requested by the landlord

Extension of tenancy fee

  • Payable to cover the drawing up of the necessary paperwork if a tenancy is extended beyond its original term. Payment is due before the extension agreement is signed by the landlord.
    Amount: £108.00 including VAT

Change of tenant fee

  • Payable to cover the drawing up of a new tenancy agreement or deed of assignment should one tenant in a shared property be replaced by another tenant (with the consent of the landlord). Payment is due before the new tenancy agreement or deed of assignment is signed by the landlord.
    Amount: £108.00 including VAT

Absolute Living is a member of The Property Ombudsman (TPO) which provides a free, impartial and independent service for the resolution of disputes between consumers and property agents. We follow TPO’s Codes of Practice which set the standard expected from property professionals. TPO’s Codes of Practice can be found on their website www.tpos.co.uk or can be requested directly from us. TPO’s service is free of charge to consumers.

We are not a member of a Client Money Protection (CMP) Scheme.

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