Tenants FAQ

TENANT FEES ACT

The Tenant Fees Act sets out the Government’s approach to banning letting fees for tenants. The key measures of the Act include:

• Tenancy Deposits must not exceed the equivalent of five weeks’ rent (unless the annual rent exceeds £50,000 in which case deposits are capped at six weeks’ rent).
• Holding Deposits will be capped at no more than one week’s rent.
• The amount that can be charged for a change to a tenancy will be capped at £50 unless the landlord demonstrates that greater costs were incurred.
• The Consumer Rights Act 2015 is amended to specify that the letting agent transparency requirements should apply to third-party websites.

Alongside rent and deposits, agents and landlords will only be permitted to charge tenants fees associated with:

• A change or early termination of a tenancy when requested by the tenant.
• Utilities, communication services and Council Tax.
• Payments arising from a default by the tenant where they have had to replace keys or a respective security device, or a charge for late rent payment (not exceeding 3% above the bank of England base rate).

How much does it cost to move in?
One month rent plus (5 weeks security deposit or 6 weeks if annual rent exceeds £50,000). 

When is your office open?
Our letting agent office opening time is from 9.00 am to 5.30 pm, Monday to Friday. We host viewings until 7pm most evenings and during the day on weekends.

How do I arrange a viewing?
You can email us or call the office to speak to one of our estate agents or letting agents.

What kind of offer should I put forward?
Every sensible offer will be put forward to the landlords.

What happens if my offer is accepted?
At this point you need to transfer the equivalent of one week rent as a holding deposit and also the references fees to our account. The property is now off the market.

Will you stop viewings at my chosen property?
Once you have paid us your deposit, and the Landlord of your chosen property has approved your application, we will cease all viewings. The choice of tenant for the property is ultimately that of the landlord.

I like the property I viewed, but I would like to have something changed, added or removed. How do I go about that? 
This needs to be submitted as a condition of your offer.

Is the holding deposit refundable?
The holding deposit will be returned to you if the application for the tenancy is unsuccessful. If the applicant decides not to take the tenancy, the holding deposit will not be returned.

What is my security deposit for? 
Your security deposit is an insurance against any damages to the landlord’s property and for any unpaid bills and rent.

How much is the security deposit? 
Your security deposit is the equivalent of 5 weeks of rent or 6 weeks if annual rent exceeds £50,000

What happens if I have an emergency outside your office opening time?
KeyHomes has an emergency line and the number would be provided directly and will be within your tenant welcome pack.

How do my references get checked?
We work with a number of referencing agencies and also carry out our own due diligence. Checks will include employment, current landlord and credit references etc

What is the affordability criteria?
Generally we say that the rent should not exceed 40% of the applicants’ salary.

What if I am self-employed?
This is not a problem as long as you have been self employed for longer than 12 months and have a full set of accounts. our agencies will get in touch with your accountant and they need to be UK based.

What if I need a guarantor?
Tenants who do not have a full time/permanent job or do not have 12 months accounts (self employed) or do not meet the affordibility criteria, will require a guarantor.  In this case we will check the guarantor’s references as well as the applicants.  In addition, the guarantor will need to be UK based and will need to sign a guarantor agreement.

How long is the tenancy for?
The majority of our tenancies are 12 month Assured Shorthold Tenancies.

What happens if I have to move out before the contract has elapsed?
You are liable for the rent throughout the validity of the tenancy agreement.  In certain circumstances, and with landlord agreement, KeyHomes will try to re-let the property in order to reduce your liability – the fee you will be charged for this is equivalent to the pro rata refund we would need to repay the landlord on our letting fee for ending the contract early.  you will also need to pay for the check-out fee.

Do you manage all your properties?
We fully manage a large proportion of our properties. If we don’t manage your property then you will be given the contact details of the landlord or other managing agent.

When can I have my security deposit returned? 
Your security deposit will be returned to you at the end of your tenancy. KeyHomes tries to refund deposits within 10 days after the vacating date subject to an agreement being reached between the landlord and tenant regarding any reductions.

What is the Landlord responsible for? 
The landlord is responsible for:
– Repairs to structure and exterior of the property, heating and hot water installations, basins, sinks, baths and sanitary installations.
– The Safety of gas and electrical appliances provided.
– The fire safety of furniture and furnishings provided by the Landlord.
– Maintaining the house in a habitable condition.

As a student do I have to pay Council Tax? 
Students don’t have to pay council tax if they live in a house where ALL the residents are in full time further education, provided that all the students in the shared accommodation have supplied the council office with a copy of their tenancy agreement and student certificate.

How do I arrange Utility bills/Council Tax?
It is important to ensure that new accounts are set up in your name for Council Tax, Water Rates, Gas and Electric bills. Under the terms of your tenancy agreement, you are responsible for these bills from the start of your tenancy.

What happens to the personal information I supply to you?
Any personal information you supply to us will be treated confidentially and held in compliance with the Data Protection Act 1998. On signing the application form you authorise us and our estate agents to share this information with the landlord and any third party contractors that effect works at the property of in order that we can gain approval for the tenancy.

How do I pay my rent each month?
Your rent should be paid each month by Standing Order and this is a condition of your tenancy agreement (we do not operate a direct debit system). Please allow three days for the clearing of the payment.

How is my deposit held? How will it be returned when my tenancy ends?
The Government has introduced a tenancy deposit protection scheme for all assured shorthold tenancies (ASTs) in England and Wales where a deposit is taken. From the 6th of April 2007 all deposits paid under an AST have to be protected within 30 calendar days of receipt by the landlord or agent.

Your deposit will be protected by the one of the two schemes: The Deposit Protection Service or MyDeposits 

KeyHomes will instruct DPS or MyDeposits to refund your deposit at the end of the tenancy subject to the deposit protection scheme rules and guidelines and once an agreement has been reached with the landlord regarding any deductions.

Can I replace myself in the property?
In a joint tenancy, where only one tenant wants to move out of the property, then this is only possible with landlord approval.  If approved, the tenant requesting to move out needs to source an agreeable replacement, who will then be put forward to the landlord for approval and referenced in the normal way.  The existing and new tenant will then sign a new joint tenancy agreement under the same terms as the current one.  The existing tenancy agreement remains valid, including your full obligation to pay rent, until a new agreement has been signed by the new and existing tenants.

What about insurance?
Tenants are responsible for insuring their own possessions. You should seriously consider taking out an appropriate Contents Insurance policy, which includes Third Party cover for the Landlord, to ensure that your possessions are protected from the very beginning of your Tenancy.

Who pays for Council Tax and Utilities on rental property?
It is normal for Assured Shorthold Tenancies to operate on a ‘Utilities excluded’ basis, in effect this means that you will be responsible for Council Tax and Utility bills during the period of your tenancy. There are exceptions to this and occasionally tenancy agreements will be made at an inclusive rent.