Lettings • Management • Rent Guarantee | 023 9300 8021 • hello@fikacoliving.co.uk
Lettings • Management • Rent Guarantee | 023 9300 8021 • hello@fikacoliving.co.uk
Whilst most new tenancies are straight forward to set up, usually taking around a week, there are some legal processes that we have to follow.
We have broken it down into 5 simple steps for you. Here's how it all works in detail and some information that you should be aware of.
To reserve a property, you must pay a holding deposit.
In accordance with the Tenant Fees Act 2019, the holding deposit cannot be more than 1 week's worth of rent, therefore, depending on the monthly rent, it usually equals around £100-£150.
Once you have signed the holding agreement and we have received your holding deposit, the property will be taken off the market, reserving it for you.
Properties are reserved on a first come, first served basis, subject to successful application.
If your referencing (Step 2) is successful, your holding deposit will be deducted from your initial sum of rent payable upon starting your tenancy (Step 3).
We carry out reference checks to learn a bit about your personal, financial and rental history so we know who will be living in the property and if you can afford to pay the rent.
This is the longest part of the process usually taking around 3-5 working days, however, this is heavily dependent on how quickly you provide the information required.
The referencing company we use is called Canopy.
You must provide the following to be accepted for a tenancy:
You can view the full referencing criteria, and the information and documents that you need to provide by clicking here.
If you don't meet the above criteria, we may ask for a guarantor. Your guarantor must also carry out a reference check and meet the guarantor criteria that you can view by clicking here.
If we ask for a guarantor, but do not have anyone to support you, we have partnered with RentGuarantor who you can apply to to guarantee your tenancy by clicking here.
Upon your referencing being verified, we will send you a tenancy agreement for your review and signature.
Your tenancy agreement will outline all the terms and conditions of the tenancy, your tenancy start date and your first sum of rent and tenancy deposit or deposit replacement fee payable (Step 4).
Your rent and tenancy deposit must be received before your tenancy starts and we hand you the keys.
In most cases, your rent will be prorated to the end of the month that your tenancy starts in and then is payable on the first day of each month.
Tenancy deposits are required so that the landlord is protected against any rent arrears, damages or cleaning required at the end of your tenancy. However, we offer a deposit replacement on most properties making it more affordable for you to move.
You can learn more about the deposit options by clicking here.
We will meet you at the property on a pre-arranged day and time to show you around 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 we have handed you the keys, you can come and go as you please and start enjoying your new home!
Check out the rooms we have availabe on Spare Room!
You could rent with us without paying a deposit saving you £££!
We've got you!
RentGuarantor could guarantee your tenancy!
Easily manage your tenancy with our tenant app!
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Fika Co-Living Limited is a company registered in England and Wales | Registered Address: Station House, North Street, Havant, Hampshire, England, PO9 1QU
Registered Number: 11104777 | VAT Number: 438987821 | Members of the Property Redress Scheme (PRS027320) and Client Money Protect (CMP008727)
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