Once you have found a property that you would like to rent we ask that you complete a referencing form and pay the appropriate referencing and holding fees. Everyone over the age of 18 who will be living in the property needs to undergo referencing. We will also require one proof of identification and one of residency from each of the following lists:
Proof of identity:
- Full passport
- Identity card
- Full driving licence
Proof of residency:
- Council tax bill
- Utility bill
- Mortgage statement
- Bank statement
- Credit card statement
When we have received your completed forms and fees the property will be marked as ‘Under Negotiation’ pending satisfactory references and our Landlord client’s approval of your application. Please note that there is no binding contract for either party to grant a tenancy until both parties have signed the tenancy agreement.
Referencing is carried out by a professional referencing company. It takes the form of a credit check; employer’s reference and previous Landlord or mortgagee where applicable. If you are self employed appropriate searches will be undertaken and your accountants will be contacted.
Ideally you should be in permanent employment and the combined annual income of all those responsible for the rent must exceed 30x the monthly rental. For example – rental of £600pcm x 30 = an income of £18,000. This income must be confirmed by your employer as your annual salary. Earnings from zero hours or temporary contracts are not taken into consideration.
If your confirmed annual income does not meet this requirement then a tenancy may still be granted if you can provide someone who will agree to guarantee your rent. This is usually a relative or close friend. The guarantor will also be required to provide proof of identity and residency and they will need to be referenced to establish that their earnings are sufficient to guarantee your rent as well as their own costs. They must be earning at least 36x the monthly rental. For example - rental of £600pcm x 36 = an income of £21,600 is required for the guarantor.