Once you have found a suitable property through DOMVS, a Holding Deposit equivalent to one weeks rent will be payable to reserve the property. This fee will be withheld if any tenant or Guarantor withdraws from the tenancy, fails the right-to-rent check, provides false or misleading information or, fail to sign the tenancy agreement or deed of guarantee within 15 calendar days or any other deadline for agreement as mutually agreed in writing.
A Deposit will be required (usually equivalent to five weeks rent) this is to cover any damages or defaults caused by the tenant during the tenancy. The deposit will be payable prior to the commencement of the tenancy and is held for the duration of the tenancy. The deposit will be registered with the Deposit Protection Service (DPS) www.depositprotection.com, within 30 days of the commencement of the tenancy, or receipt of the deposit whichever is earlier. For further information on Tenancy Deposit Protection please click on the website www.communities.gov.uk/tenancydeposit. Please note that no interest will be paid on the deposit.
Lease & Renewal
All properties are let on an Assured Shorthold Tenancy basis unless otherwise agreed.
Payment of Rent
Rent is payable monthly in advance by Standing Order direct to DOMVS (for managed and Rent Collection properties only). Rent must be paid direct to the Landlord for our Let Only Service. For Late payment interest will be charged at 3% above the Bank of England Base Rate from the Rent Due Date until the rent is paid. Please Note: This will not be levied until the rent is more than 14 days in arrears.