As a Tenant it's imperative to all at Arkade that you get the very best possible from your property.
Of course, we insist on meeting the very highest industry standards and we subscribe to trade institutions and the government bodies who actually lay down legislation for your protection.
So Arkade Property is:
- Registered with the Property Ombudsman
- An accredited member of NALS (National Approved Letting Scheme)
- A registered member of Mydeposits
- An accredited member of Safe Agent
These respected organisations ensure that we comply with defined service standards having Professional Indemnity Insurance in place, Client Money Protection cover, access to Tenancy Deposit Protection, and have a customer complaint procedure.
Once you have chosen a property to rent, you'll need to complete a referencing form and pay a non-refundable administration fee.
In some instances we'll require a holding deposit. This deposit will be refunded in full if the landlord decides not to proceed with letting the property, however the holding deposit will not be refunded if you decide not to proceed.
Arkade Property is regulated under the UK Money Laundering Legislation, which is why we require a copy of tenant's passports or driving licence (with photo) and a copy of a recent utility bill. Though we are happy to discuss alternative forms of identification with tenants who can’t provide these documents.
These are obtained via an independent referencing agency. In some cases (such as students lettings) a guarantor will be required who will also need to complete a referencing form and pay a fee.
Tenants (and the guarantor if needed) will be required to sign the Tenancy Agreement prior to beginning the tenancy. If the Tenant has any queries regarding the terms of the Tenancy as set out in the agreement, they can contact our office and/or seek legal advice from their solicitor. Most tenancies are ASTs (Assured Shorthold Tenancies), where the rent is under £100,000 per year and/or the tenant is an individual and not a company. The minimum term for a let is 6 months though some tenants/landlords will prefer 12 months minimum.
Deposit and rent
A month and a half rent deposit (to be paid in advance) is required for most tenancies, though, depending on references, the deposit may be higher. Rent is paid monthly in advance, though some tenants prefer to pay the rent quarterly or 6 months in advance.
Under current legislation, the deposit must be registered either by us or by the Landlord and details of the registration will be sent to the Tenant. The deposit is held in a separate account until the end of the tenancy against dilapidations, it cannot be offset against the last month’s rent.
Arkade Property Fees & Requirements
- One Applicant - £250
- Additional Applicants - £125
- Guarantor - £100
- Permitted Occupier - £50
- Company Applicant - £350
- Change of Sharer (mid tenancy)/ending Tenancy early - £350
- Check out - £75 + VAT
- Late Rent - £100
** Guarantor requirements include must be home owner, UK citizen with a clear credit history and earning approx. £25,000 per annum.
Deposit -Range between a month and a half rent and 3 months' rent (Depending on references)
Identification will be required from prospective tenant, guarantor and any additional persons living in the property e.g. Passport, VISA, driving licence and proof of address. This will be requested at offer stage and will be required to be certified as per the Immigration Act 2014.
One months' written notice will be required at the end of the tenancy.
If you would like any further information please Contact Us