How it works in detail

If you are interested in renting a property, we will first send you a link to complete an online application form, where you will need to provide some basic details before paying a holding deposit (step 2). This is so we can initially determine whether or not the property may be suitable for you, and whether or not you may meet the required referencing criteria and affordability to pay the rent (step 3). 

You won't need to send us any documents at this stage, however the details you provide on your application may be compared with the information on your formal referencing, so it is important that you are honest with the information you provide otherwise you may lose your holding deposit.

If your application is successful, the next step is to pay a holding deposit to reserve the property. 

In accordance with the Tenant Fees Act 2019, the holding deposit cannot be more than 1 week's worth of rent, therefore depending on what the monthly rent is, the holding deposit is usually around £100-£150. 

Before making payment, we will send you a holding agreement outlining the terms and conditions of the reservation, including when the holding deposit is refundable or not. Once signed and received, the property will be taken off the market, reserving it for you. Please note that some properties are let on a first come, first served basis. 

If your referencing (step 3) is successful, your holding deposit will be credited against your first payment of rent (step 4). 

We carry out reference checks to learn a bit more about you and your personal, financial and rental history, so we know who will be living in the property and if we believe you can afford to pay the rent. 

This is the longest part of the process usually taking around 3-5 working days, however, it can be completed quicker depending on how quickly you provide the information required. To complete your part of the referencing can take as little as 15-20 minutes, assuming you have all the required information to hand. 

The referencing company we use is called Canopy and we will send you a link to set up your free online referencing account. You will be required to provide specific information and documents as proof of the below criteria to be accepted for a tenancy:

• Proof of identity and right to rent in England 
• A credit file with no County Court Judgements (CCJs) or bankruptcies (The credit check is a 'soft check' so it will not affect your credit score)
• An average annual income, of at least 30x the monthly rent/40% of your average annual income - before tax. 
• An employers reference if you are employed, or your latest SA100 tax return if you are self-employed (we may also need a reference from your accountant depending on how long you have been self-employed and what you proven income is) 
• Proof of current address, and a landlord reference if you are currently renting

FLATFAIR NO DEPOSIT (a deposit replacement where available on the selected property)

If you wish to use Flatfair No Deposit, you will also need to meet Flatfair's referencing criteria. This is very similar to the above criteria, however we will apply to Flatfair on your behalf using your reference report from Canopy once completed, therefore you won't need to carry out another reference check - learn more here.

GUARANTORS

If you don't meet any of the referencing criteria, we may ask for a guarantor. Your guarantor must also carry out a reference check and meet the guarantor criteria.

If we ask for a guarantor, but don't have anyone to support you, we have partnered with RentGuarantor, who you can apply with to guarantee your tenancy for you. 

Please note that if you do not meet any of the above referencing criteria or have a suitable guarantor, or do not wish to pay a tenancy deposit in the case of being declined by Flatfair No Deposit, your tenancy application may be cancelled and you may lose your holding deposit. 

If your referencing is successful, we will send you a tenancy agreement outlining the terms and conditions of your tenancy for you to sign. 

In most cases, we collect rent on the 1st day of each month, therefore although the rent is paid monthly, your first payment of rent may be prorated to the end of the month in which your tenancy starts, minus your holding deposit already paid. This means that, depending on the amount of your holding deposit and the day your tenancy starts, you will likely pay less than a month's rent before moving in, or you may even be in credit!

Tenancy deposits, or the use of Flatfair No Deposit, is required so that the landlord is protected against any rent arrears, damages or cleaning etc. at the end of your tenancy. 

Your tenancy agreement, rent and tenancy deposit (or Flatfair No Deposit fee), must all be signed and received before your tenancy starts and we hand you the keys.

We will meet you at the property on an agreed day and time to show you around again as a reminder of where everything is, run through the inventory report and some safety items, and answer any questions you have before handing you the keys. 

Once you have the keys, you can come and go as you please and start enjoying your new home!