::Redcar Letting Co. Ltd. ::

Tenancy Protection Scheme
Info for Managed Properties
Info for Non- Managed Properties
Notes for Tenants
Disclaimer

Tenancy Protection Scheme

What is a Tenancy Protectection Scheme?

Your questions answered...

 From 6th April all new tenancy deposits must be protected in a
government-authorised scheme. This new rule applies if the tenancy is an
assured shorthold tenancy. The Government wants to make sure tenants’
deposits are protected so that:

• Tenants get all or part of their deposit back, when they are entitled
to it

• Any disputes between tenants and landlords or agents will be easier to
resolve

• Tenants are encouraged to look after the property they are renting

Assured Shorthold Tenacies

Most tenancy agreements for self-contained residential property since
1997 are assured shorthold tenancies. With an assured shorthold tenancy,
the tenant usually has the right to stay in the property for at least
six months, although a landlord or agent can agree a longer stay.

At the end of the tenancy, following adequate written notice, a landlord
or agent can seek possession of the property. If a landlord or agent
needs to seek possession earlier than this, they can only do so for one
of the reasons specified in the Housing Act 1988. A tenant who refuses
to leave cannot be evicted without a court possession order. A landlord
or agent will lose their automatic right to regain possession of the
property at the end of the tenancy unless they have protected the
deposit in a scheme and given the tenant information about how it is
protected.

Moving In

At the beginning of a new tenancy agreement, the tenant pays the deposit
to the landlord or agent as usual, who must ensure it is protected.

There are three schemes to choose from. There is a single custodial
scheme, where the money is held by the scheme until the end of the tenancy.

The custodial scheme is free to use. The landlord or agent simply puts
the deposit into the scheme at the beginning of the tenancy.

There are two insurance-based schemes that insure the deposit.

Under the insurance-based schemes the landlord or agent keeps the
deposit, and pays a fee to the scheme to insure against their failure to
repay money due to the tenant. Within 14 days of taking the deposit, the
landlord or agent must provide the tenant with details of how the
deposit is being protected including:

• The contact details of the tenancy deposit scheme selected

• The landlord or agent’s contact details

• How to apply for the release of the deposit

• Information explaining the purpose of the deposit

• What to do if there is a dispute about the deposit

Tenants also have a responsibility to return the property in the same
condition they took it on. To reduce the likelihood of disputes it is
recommended that the following actions are taken before signing the
tenancy agreement:

• Agree a detailed list of contents (furniture and fittings)

• Record the condition of the property and its content (photographs are
a good idea)

• Agree expectations of cleaning and wear and tear at the end of the tenancy

• Understand the circumstances in which the landlord or agent could have
a claim on the deposit

Moving Out

At the end of tenancy, the condition and contents of the property should
be checked against the tenancy agreement. The landlord or agent should
agree with the tenant how much of the deposit will be returned. The
agreed amount should be received by the tenant within 10 days.

Scheme Providers

There are three government-authorised tenancy deposit schemes offering
tenancy deposit protection. Landlords and agents should find out about
these schemes and their legal obligations before taking a tenancy deposit.

There is one custodial scheme:

The Deposit Protection Service:

www.depositprotection.com

tel: 0870 707 1707 


and two insurance-based schemes:

Tenancy Deposit Solutions Ltd

www.mydeposits.co.uk

email: info@mydeposits.co.uk

The Tenancy Deposit Scheme

www.tds.gb.com 

tel:0845 226 7837

Resolving Disputes

If no agreement can be reached about how much of the deposit should be
returned, there will be a free service, offered by the scheme protecting
the deposit, to help resolve disputes. The disputed part of the deposit
will be held by the scheme until the dispute is resolved. What happens
if you do not secure a tenant’s deposit?

The tenant can apply to the local county court. The court can order the
landlord or agent to either repay the deposit to the tenant or protect
it in a scheme. If the landlord or agent has not protected the deposit,
and they fail to do so within 14 days, they will be ordered to pay the
tenant three times the amount of the deposit.

Procedures and terms of business for managed lettings

We will take details and colour photographs of the premises.
Advertising in the local press.
Displayed in the office, office window and website.
Fully employed people only unless previously discussed.
Check references of the tenants.
Draw up a short-hold tenancy
Bond and first month’s rent must be paid before occupation.
Set up a standing order
Take responsibility for the day to day management of the property including arranging for any general repairs required to be done by our contactor or contractor of your choice.
Carry out an inventory including Schedule of Condition at the start and end of tenancy.
Inspect property periodically at Landlord’s request.
Advise necessary utility companies of meter readings for new customers.
Collection and processing of monthly rents from tenants and issuing a monthly statement to landlord..
Check tenants out of the property at the tenancy end, and assess any damage before the bond is returned.
Issue a notice to quit if required.
Pursue any outstanding rent.
We cannot accept any responsibility for any damage to the property or loss of rent.
If instructions and details have been taken, and subsequently withdrawn from our agency within two months, a charge of £40 will be made.
A sole agency for the first two months..

Prior to letting

From the 1st October 2008 if you are renting out your propertry it will be a legal requirement to have an energy performance certificate before the tenants can move into the property. These certificates are valid for ten years. This does not affect exisiting tenants.
Landlords are to ensure that all services i.e. Gas, Electric and Water are connected at the commencement of each let and that the agent is informed of utility providers.
Landlords must present their property to the agent in a clean, neat and tidy condition or alternatively we will undertake the cleaning at an approximate cost of £50.00.
Gardens should be left in a neat and tidy condition before a let.
Please ensure that your mail is redirected before commencement of the let

Procedures and terms of business for non-managed lettings

We will take details and colour photographs of the premises.
Advertising in the local press.
Displayed in the office, office window and website.
All viewing will be accompanied.
Fully employed people only unless previously discussed.
Check references of the tenants.
Draw up a short-hold tenancy
Bond and first month’s rent must be paid before occupation.
Carry out an inventory including a Schedule of Condition at the start of the tenancy.
If instructions and details have been taken, and subsequently withdrawn from our agency within two months, a charge of £40 will be made.
A sole agency for the first two months.
We cannot accept any responsibility for damage to the property or loss of rent.

Prior to letting

From the 1st October 2008 if you are renting out your propertry it will be a legal requirement to have an energy performance certificate before the tenants can move into the property. These certificates are valid for ten years. This does not affect exisiting tenants.
Landlords are to ensure that all services i.e. Gas, Electric and Water are connected at the commencement of each let and that the agent is informed of utility providers.
Landlords must present their property to the agent in a clean, neat and tidy condition or alternatively we will undertake the cleaning at an approximate cost of £50.00.
Gardens should be left in a neat and tidy condition before a let.
Please ensure that your mail is redirected before commencement of the let.

Notes for prospective tenants

Bonds: Usually the equivalent of one month's rent. A month's rent in advance is also required. The bond is refundable at the end of the tenancy providing that the property is left in a satisfactory condition on inspection. A £115 plus £15 for each tenant administration fee is payable in advance to draw upthe necessary documents. Note: Cash only.
Deposit: A non-returnable deposit of one month's rent is required to secure the property. We will not hold properties without a deposit. Note: Cash only.
References: We require at least two references, preferably one from your employer and one from a previous landlord. Credit checks may also be required.
Length: All tenancies are available for a minimum period of 6 months unless otherwise agreed.
Age: Over 25 only. However, under25s maybe considered at the landlord's discretion
Payment: Rent is payable monthly in advance.. Tenants are required to submit a standing order form for future payments unless agreed otherwise.
Pets: Pets are only allowed at the discretion of the Landlord.
Insurance: The buildings only are insured by the Landlord. Tenant's possessions are not covered, although insurance can be arranged through PGN if required.
Viewings: These are arranged via our Cleveland St. office. Please see phone numbers on Contacts page to arrange a suitable appointment.
Properties: Our list of properties changes frequently. We advertise fortnightly in the Evening Gazette and an up to date list can be picked up from our offices.

Property Mis-Descriptions Act 1991

It is recommended that all the information contained in these Sales/Rental details is confirmed by the purchaser on inspection.

In respect of services, fixtures and fittings including the electrical installation and central heating, the information contained in these particulars refers to items within the premises and no warranty is given or implied as to their working condition or servicability. We recommend that prior to the purchase of the property both the electric and heating systems are inspected by a qualified engineer.

In respect of a rental property a valid Landlord's Gas Certificate will be provided.

These particulars are meant merely as a guide and do not form a contract.

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