Useful Information For Tenants
HOW CAN I WORK OUT IF I CAN AFFORD THE RENT?
The rent must not exceed 33% of your monthly gross income. For example £1000.00 (gross monthly income) x 0.33 = £330.00 therefore your share of the monthly rent must be £330.00 or less. If the rent over income ratio is greater than 33% a guarantor may be required or rental payments in advance.
WHAT HAPPENS IF I AM A STUDENT?
Students will require a UK based guarantor to support them. The applicant and guarantor will be assessed individually.
WHAT DO I DO IF I AM NOT FROM THE UK?
There are several scenarios for overseas applicants. Please contact PG Estates to outline your situation.
WHO CAN BE MY GUARANTOR?
To be an acceptable guarantor an individual must:
- Be a UK homeowner
- Can be a relative or a friend
- Must be happy to sign a guarantor agreement
If you are unable to provide proof of sufficient earnings and unable to find a UK guarantor then you will need them to pay six months rent in advance.
WHAT ARE THE RULES REGARDING THE REGISTRATION OF DEPOSITS?
All deposits have to be either held in or registered with a government approved scheme. PG Estates is registered with mydeposits.co.uk which authorizes us to hold deposits. We are also registered with the Deposit Protection Service which is a custodial scheme. Each scheme has slightly different requirements but essentially your deposit will need to be registered or held with one of these schemes soon after the beginning of the tenancy and will remain protected until both sides agree to release it at the end of the tenancy. We will send you documentary proof of where your deposit is held and how it can be released.
WHAT ADMIN FEES DO PG EstateS CHARGE?
We charge tenants £150 inc VAT for the first tenant and £50 incl. VAT for all subsequent tenants.
ARE THERE ANY OTHER COSTS LINKED TO THE TENANCY I SHOULD BE AWARE OF?
It is likely that there will be an inspection undertaken at the beginning and end of the tenancy by an employee of an independent inventory company. The cost of this generally falls to the owner at the start of the tenancy and the tenant at the end. The cost of this varies depending on the size of the property and how furnished it is. We would be happy to give you an estimate of the potential cost for your property.
ONCE I MOVE INTO A PROPERTY WHO SHOULD I CONTACT IF I HIT ANY ISSUES?
If the property is managed by the landlord you should contact him/her directly. If, however, we manage it you can send an email to our property management team (firstname.lastname@example.org
) and they will be happy to help resolve the problem.
What is PG estates Complaints Procedure?
If ever you feel our service falls below your expectations of us you can complain to the company and we will follow the attached procedures as set out by our Ombudsman. Complaints Procedure
NEW TENANCY FEES
- A Holding Deposit of two weeks’ rent* to secure a property once your offer has been accepted (subject to contract and satisfactory references). This forms part of the standard 6 week dilapidation deposit
- Administration Fee: £150 for the first tenant and £50 for all subsequent tenants e.g. three tenants = £250**
Deposit of six weeks’ rent
- One months’ rent in advance (for students, six months’ rent in advance)
- Pet Deposit: two weeks’ rent
*This is a non refundable deposit and will be forfeited as liquidated damages in the event that you withdraw or otherwise fail to take up the tenancy. If, however, this agency or the landlord decline to grant the tenancy it will be refunded in full in the method in which it was received.
**The Agency admin fee covers the cost of referencing, credit checking, agreement preparation and ancillary costs. This fee is non refundable.
POSSIBLE FEES DURING AN EXISTING TENANCY
- Renewal fee: £75 (inclusive of VAT) for each extension or renewal to the original Tenancy.Ch
- Change of Sharer fee: £250 inclusive of VAT to include the administration costs, deed of assignment and registration of the deposit.
- New occupier reference fee: £75 inclusive of VAT for reference report and admin costs.
END OF TENANCY FEES
Inventory fees vary depending on the size of the property but range from around £120 inclusive of VAT to £240 inclusive of VAT dependent upon the size of property. It is normal for the tenant to pay for the check-out fee and the landlord to cover the cost for the inventory make and check in.
PG Estates has clients who undertake their own lettings administration and as a result they have fees and charges that vary from the above. Details of these fees are available on request and replace any of the charges mentioned above.
WHERE CAN I FIND MORE INFORMATION ABOUT THE LETTING PROCESS?
The government provides a guide which is provided to tenants for all tenancies created after 1st October 2015. This gives a detailed explanation of the process and explains both Landlord and Tenant responsibilities. A copy of the guide can be viewed here: HOW TO RENT GUIDE