Letting FAQs

Frequently Asked Questions - Letting

Frequently Asked Questions from Landlords

What are your fees?

For the letting only service where a suitable tenant is found the fee is 8% of the agreed term paid at the start of the tenancy. If you require us to manage the property the fee is a further 5% and is deducted monthly from the rent payments made by the tenant.

How do you reference?

We use a referencing agency called Very-check who combines an Experian credit check with employment, previous landlord, bank and personal reference checks. The results of these checks are available to view by a landlord for a prospective tenant.

Can I insist on corporate lets?

Companies are very reluctant to take on the liability of a tenancy agreement on behalf of their employees so an actual corporate let is rare. Company leases are outside the scope of Landlord and Tenant Acts so the tenancy agreement would not be an Assured Shorthold Tenancy.
What is common and desirable is a professional tenant who is employed and has a salary that will enable them to pay the rent. Being opposite Grays Inn and in the heart of the legal district the law provides a large amount of professional tenants. Proximity to The City also provides a large number of professional tenants working in finance and related areas such as insurance and accountancy.

Can I insist on not letting to students?

To choose to study in London is an aspirational decision that includes paying very high fees to academic institutions, high rents and expensive day to day living. Many students are taking professional qualifications such as further legal or medical studies and they are already preparing for professional life including protecting their credit history. This means that some students are a very high calibre of tenant. Combined with the fact that many students are international and so normally pay 6 – 12 months rent in advance and will normally be obliged to pay the asking rent and not negotiate on price can make them profitable low risk tenants.

Furnished or Unfurnished – that is the question:

In Midtown in WC1 and EC1 nearly all smaller properties and most of those that are not in the upper end of the market will be wanted furnished. The majority of potential tenants are young and have not yet purchased a home so do not have a quantity of furniture or household goods. International tenants will have come to London with just a suitcase and Bloomsbury and Clerkenwell are popular areas for international professional tenants and students.

Frequently Asked Questions from Tenants

How does a tenant secure a property once they have seen one they like?

Once you have viewed a property and know you like it, we would need an email offer confirming certain details so we can approach the landlord and see if they will proceed. The main terms; what rent will be agreed, when will the tenancy begin and how long the tenancy term will be, need to approved. We would also need to know who the tenants are, so where are they from, what do they do in London, where have they been living do they have a rental history in this country.

What are the terms of the Tenancy Agreement?

If the tenant is an individual then the letting will be an Assured Shorthold Tenancy (AST). The main terms of an AST have been set down by statute law and so all tenancies will share common terms.

How long will the tenancy be?

The minimum term of an AST is 6 months. Many landlords require a 12 month contract.

What is deposit protection?

Since 2007 if a deposit is required then that deposit must be registered. If an agent is a member of a one the recognized trade organisations then they have ability to be a member of The Tenancy Deposit Scheme (TDS). We are members of ARLA and the Tenancy.