What is a holding deposit?and do I get it back?
Your Questions? Answered
Please find below our comprehensive list of most frequently asked questions, with answers regarding that particular topic. Please do not hesitate in contacting us, where we will be most happy to answer any questions not covered here.
Holding Deposits - usually one week's rent - can be required when you make an offer on a property. If, for any reason, you decide not to go ahead by an agreed date, the holding deposit or part of it will be retained against administrative costs already incurred. Otherwise it will be off-set against the first rent and full deposit payments. If the landlord decides not to proceed then the holding deposit will be returned. The payment of a holding deposit in no way legally obliges either party to enter into the tenancy.
Do I have to pay fees to Hensons?
There will be certain costs for you to cover, for administration including the preparation of the tenancy agreement and taking up references. Our agency fee for tenants is 25% of the first months rent.
What money will I need in the beginning?
One month's rent in advance and four weeks security deposit (Bond) to be held as a deposit against damage (plus the administrative charges noted above)
What information will I need to supply?
You will need to complete a reference form, which will require the following information:
• Addresses for the last 3 years.
• Current landlord/managing agents details.
• Employment details for last 3 years.
• Bank/Building society details.
• Two forms of id. plus photo id.
• Personal reference details.
• Guarantor may be required in certain circumstances.
What are my responsibilities?
These should be clearly set out in your tenancy agreement, which you should read carefully before you sign. If in doubt, ask the agent. There is a duty for professional agents to ensure that anyone relying on them is offered correct advice.
What is a tenancy agreement?
It is a legally binding document between you and the landlord, applicable only to you and the property you are renting that states the amount of rent, the length of the tenancy, your rights and responsibilities. Your agreement will be an Assured Shorthold tenancy under the Housing Act 1988.
How long does it take?
From viewing a property it normally takes seven to ten working days for the referencing to be processed, inventories to be carried out and initial monies to clear.
When will I be allowed to move in?
When our referencing as been approved for you, documentation completed, and your monies cleared. You will then be allowed to move in to your new home
on the start date shown in the signed Tenancy Agreement.
How do we arrange to collect the keys ?
Keys for ‘Let Only’ properties must be collected direct from the Landlord. Keys to managed properties are held by Hensons. The summer months can be extremely busy as everyone moves into their new homes. We advise that an appointment to collect keys is made as soon as possible to avoid delays or disappointment.
Who will attend to any issues I may have once I have moved in?
Issues occurring in ‘Let Only’ properties should be reported to the landlord direct. Any problems within Managed properties should be reported to Hensons. We will always endeavor to deal with reports in the fastest possible time to limit any inconvenience to our tenants. Please refer to our maintenance web page for further details.
How do will pay our rent?>
Rent for ‘Let Only’ properties should be paid direct to the landlord by standing order or BAC's if agreed. As the agent we collect the rent on behalf of the landlord for all Managed properties. Rent is due on the 1st of every month and will be collected by standing order or bacs. Payments will clear on the 27th of every month to ensure that the monies have cleared by the 1st. In the event that the direct debit collections bounce a charge of £25.00 will be applied.
How long is a typical let?
Hensons issue either a six month contract or a twelve month contract with a six month break clause.
What happens if I want to stay on or leave early?
Hensons will send out a tenant record update form three months prior to the expiry of the tenancy, which the tenants can complete to enter into negotiations with landlords if they wish to renew the tenancy agreement.
What else do I have to pay for?
The tenant is responsible for the utility bills such as gas, electricity, water and telephone during the course of the tenancy, T.V. licence, etc; and the Council Tax applicable to the property.
What must I do at the end of the tenancy?
Ensure you fulfil your obligations stated in the tenancy agreement to leave the property in the condition it was in at the start, or deductions will be made from your deposit. These will include thorough cleaning of the property and receipt of final bills from all utility companies and local council tax. If you have moved furniture, return it to where you found it at the time of the inventory. Please Note: To assist you with the prompt return of your security deposit, we have provided a Quick Bond Return Form, which you may find in the tenant form section of our website.
How do I get my deposit back?
After an inventory check and condition inspection and provided there are no missing items or damage to the property the deposit monies will be returned according to the timescales under the Tenancy Deposit Scheme in the tenancy agreement. You cannot set your deposit against the last rent payment due.
Who will be holding my deposit?
Deposit monies can be held by either Hensons or the landlord. If the landlord wishes to hold the deposit you will be informed prior to the signing of the tenancy agreement.
In the case that Hensons hold the deposit, the deposit monies will be protected under the governments DPS Deposit Protection Service. Any interest earned will belong to the agent.