Once you have found a property to let you will be asked to complete an application form, this form must be completed and signed before any application for tenancy can be formally considered. Applicants are reminded that in addition to the reference information requested herein they must also provide proof of identification. The completion and submission of this form does not constitute an offer of a tenancy but shows your serious interest.
On very rare occasions more than one person may express and interest in taking a tenancy. Should this occur you will be informed and all interested parties details will be made known to the landlord. If your application is unsuccessful for purely this reason any application fee paid will be returned to you.
In order to process your application More – The Letting Centre require you to pay what is referred to as a ‘good faith deposit’ of £125.00 per applicant over the age of 18. This sum shows your serious intentions and genuine wish to take a tenancy of the property in question and provided you do not require a guarantor covers the referencing costs involved in processing your submission. Should you withdraw or your references prove unsatisfactory this sum will be retained by More to cover administration expenses. In the majority of cases each individual tenant must complete an application form.
If your application is successful you will have to pay, in addition to your first months’ rent, a deposit and a contribution towards the tenancy agreement costs. The deposit will not be returned until your tenancy has ended and only then provided your rent is paid in full and the property is returned in a condition that meets the landlord’s satisfaction.
Please note that any applicant who is either, in receipt of housing benefit, has a less than satisfactory financial record or for whom the rent is more than 40% of their income will automatically require a guarantor. A guarantor should ideally be a homeowner who has a full time job, a bank account and is in a position to cover your rent should you fail to do so. For calculation purposes please be advised that the rent should also be no more than 40% of the guarantors salary e.g. someone earning £15,000 per year can guarantee a rent up to £500.00 pcm. Please also note that regardless of your entitlement to housing benefit assistance the rent remains due under the terms of the tenancy agreement e.g. should your rent fall due on the 16th of the month and your claim has not been processed you will still have to find funds to meet your obligation on that day. Please note that there is an additional £100.00 fee for processing a guarantor’s application.