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A Guide for Tenants

When you have chosen a property to rent through Stuart Mackenzie Residential the following procedure and charges will apply.

HOLDING DEPOSIT

Once your rental offer has been accepted by the landlord of the property you will be asked to pay a holding deposit, usually equivalent to one week’s rent, which holds the property for you while we take up references. This amount is deducted from the initial monies due before you move into the property. It is refundable if the Landlord decides not to proceed for any reason.

REFERENCING

We employ the services of a professional referencing agency to ascertain that you are a suitable tenant for the property. You will be asked to complete an on line application form which will ask you to provide details of your current employment, your salary and your address history for the past three years. If you are self employed, you will need to provide your accountants details to enable the referencing agency to verify your income. If your income is considered insufficient or if you have inadequate address history you may be asked to provide a guarantor.

TENANCY AGREEMENT

Once we have received reference approval we will prepare a Tenancy Agreement which has to be signed by the landlord and each tenant. If there is a guarantor, he will also have to sign the Tenancy Agreement. 

SECURITY DEPOSIT AND RENT

Before you move into the property you will need to pay one month’s rent in advance and a security deposit which is equivalent to five weeks rent for tenancies where the annual rent is below £50,000.  Deposits for tenancies where the annual rent is £50,000 or more will be limited to the equivalent of six weeks rent. Your holding deposit will be deducted at this stage. Stuart Mackenzie Residential is a member of The Tenancy Deposit Scheme and your deposit is protected under the rules of this scheme. See www.thedisputeservice.co.uk for full details. 

INVENTORY

The landlord is responsible for making an inventory of the contents and the condition of the property. This is checked with you at the beginning and at the end of your tenancy.
The landlord is usually responsible for the cost of the inventory check in and the tenant is usually responsible for the cost of the inventory check out. This cost is dependent on the size of the property and whether or not it is furnished.