Tenants Guide to Renting a Property
On receipt of this guide you will have most likely decided to put in an offer to rent a property you have seen through Abaco Estates. This guide is intended to offer you some general information on the procedures involved in renting a home, including what is required prior, during and after you have moved into the property.

THIS INFORMATION DOES NOT IMPLY A TENANCY.

OFFERS
The terms of your offer will need to be put forward to the Landlord. To ensure all the information is correct, the offer goes through as smoothly and swiftly as possible, your negotiator will complete an Applicant Sheet with all your details i.e. all the names, addresses, telephone numbers, occupations etc of all Tenants and an Offer Sheet with all the details of the offer i.e. price, term, commencement date, break clauses (if any) etc. A holding deposit will be required of a least one weeks rent (with a minimum amount of £150.00) which will go towards the advance monies you will need to pay prior to moving in. A written receipt will be given for all monies taken.

REFERENCES
Your negotiator will also need to provide the Landlord with suitable references on all the Tenants. These will include a bank, employers and past Landlord/Managing agent. In the case of self employed Tenants, a bank, accountant, solicitor and past Landlord/Managing Agent. In the case of a Company Let, we will require references from the Company’s bankers, solicitors, accountants and a copy of the Annual Company Accounts. Confirmation from an authorised representative of your Company will be required to confirm that you are the proposed permitted occupier. Some Landlords require a personal credit search or Company search to be carried out. Your negotiator will have standard Bank Reference forms, which will need to be completed and signed. Your bank will make a charge, so a cheque made payable to your bank for the relevant amount will need to be accompanied with this form. You will need to arrange past Landlords and work references so please contact your referees to arrange an immediate response. These may be faxed for speed however the original must be posted to us. In some cases, some form of identification may be needed i.e. passport or driver’s licence. Should there be the need for a Guarantor, a Guarantor Form will need to be signed and references on the Guarantor will need to be taken up. The Tenant must pay for all costs incurred in receiving references.

TENANCY AGREEMENTS
These form a legally binding contract between the Landlord and the Tenant. There are two main types of Tenancies, Private and Company. Most private tenants will sign an Assured Shorthold Tenancy, which must be for a minimum of six months, and important legal notices will need to be served to you. Should there be a break clause, 2 months written notice will need to be served on the other party and this may only be served after the first 6 months from the commencement of the term, therefore making the minimum period 8 months. In the event your Company is taking the Tenancy in their name, an authorised representative of the Company, but not the occupant, must sign the Tenancy Agreement. There will be a charge for the Tenancy Agreement. In addition there is a charge for the legal requirement to Stamp the Agreement, this charge of £5.00 is paid by the Tenant. The Stamped copy of the Agreement is held by Abaco Estates, should a Tenant wish for a Stamped copy this should be applied and paid for by the Tenant directly to the Stamp Office details can be provided by Abaco Estates.

RENT PAYMENTS & DEPOSITS
Upon signing the Tenancy Agreement we must be in receipt of the first agreed rental payment and the security deposit (less any holding deposits already paid) in CLEARED FUNDS i.e. Banker’s Draft (payable to Abaco Estates) or cash. Thereafter, all rental payments will be paid by Standing Order, your negotiator will have a Standing Order Mandate for you to complete. The rent is usually per calendar month or quarterly in advance and the deposit is equal to six weeks rent. The deposit will be held either by the Landlord or the Agent for the duration of the Tenancy. The deposit is used to offset any costs, which may be incurred as a result of damages, dilapidations, or any breach of contract caused during the Tenancy. The deposit cannot be used as rent for the last month of the Tenancy.

INVENTORY
A detailed Inventory will be produced documenting the contents and condition of everything in the property. You will need to go through the Inventory to make sure that all the details are correct, sign all the copies and return to Abaco Estates for signature by the Landlord. Should there be no Inventory and an Inventory Clerk is needed, a charge will be made for their services.

UTILITIES
All the utilities (telephone, electricity, council tax, gas and water) are the Tenants responsibilities, unless otherwise stated. Abaco Estates will endeavour to inform the relevant authorities that you will be taking over these supplies and services. However, it will be necessary for you to contact them directly to ensure that the supplies are not disconnected. You may be asked for an appointment so they can read the meters. The following numbers may be useful:-

INSURANCE
Whilst it is the Landlord’s responsibility to provide building and contents cover, he is not liable for your own possessions. It is therefore recommended that you make your own arrangements for insuring all your personal belongings and for any accidental damage caused by you. Abaco Estates can help arrange cover on your behalf.

PROPERTY MANAGEMENT
Whilst Abaco Estates may have had the pleasure in finding you a home, we may not necessarily be managing the property during the term of the contract. You will be informed as to whom is managing the property at the commencement of the Tenancy. Any problems relating to the property, however minor, must be reported immediately to whoever is managing the property.

TERMINATION OF YOUR TENANCY
Towards the end of your Tenancy we will contact you to ascertain your future requirements. Should you wish to extend your Tenancy, we will contact the Landlord to negotiate the terms and draw up new documentation. Should the Tenancy be terminated, an Inventory check-out should be arranged and you will be advised accordingly. The Landlord or the Landlord’s Agents can view the property with prospective Tenants during the last 6 weeks of the Tenancy, please ensure the property is clean and tidy. The property should be left ready to hand over in the same state as at the commencement of the Tenancy, this also includes the garden (if any) and the property should have been professionally cleaned. This point must be stressed, otherwise you could receive costly cleaning and gardening charges. All keys must be returned and a forwarding address left for any mail etc. When you inform the utility companies of your moving out, please ask them not to cut off supplies otherwise the next Tenant may have to pay unnecessary reconnection charges and always take a meter reading.

It is hoped that all the above information will assist you in moving home, but should you require further information please do not hesitate to call us.

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