If your application has not been successful, then unfortunately we will not allow you to take out a tenancy on the property. This could be for a number of reasons, a bad credit history, your current landlord warning us away from you, not completing fully completing your application and paying over the holding deposit within our set times. Please take care in reading the pre-defined criteria that maps what is required from an applicant to pass before you commence an application with Redbrick Properties. An unsuccessful application will mean losing some or all of the Holding Fee.
If on the other hand your application is successful, we will then contact you and ask you to come into the office for the next stage.
The Tenancy Agreement
Some may refer to this as "the boring bit", but this couldn't be further from the truth. This is the stage where we sit you down and go through every term of the Tenancy Agreement, the legal contract between you and the landlord, ensuring you understand what is expected of us as the agent, what is expected of your new landlord, and what we expect from you, during the term of the tenancy.
Once you are happy with the terms of the Tenancy Agreement, this will then be signed and you will receive a copy for your records. It is also at this stage where we will ask you to pay the deposit on the property.
A deposit will be expected from all tenants once the Tenancy Agreement has been signed. The deposit is an amount of money held by the agent, or in some cases the landlord, as security against any damages caused by the tenant during the term of the tenancy, or against any shortfall of rent at the end of the tenancy.
The good news is that all deposits by law are required to be protected by one of the Deposit Protection Schemes in operation, either by us the agent, or by the landlord. This scheme offers peace of mind that come the end of your tenancy, the return of your deposit will be dealt with in a non-bias fashion, with the mediation of the chosen scheme if required.
From our professional tenants we ask for a maximum of 5 weeks rent, if you are in any doubt click on the link to calculate your deposit
From our student tenants, we ask for a deposit of £300.00 per person, or the equivalent of a month’s rent if your new home is a one bed property.
Setting Up Rent Payments
As with most tenancies in the UK, rent is always paid in advance, whether paid monthly, or as with our student tenants, quarterly standing orders. By the first day of your new tenancy, the first payment of rent will need to be cleared into our account. This can be paid via a variety of methods including debit cards, bank/internet transfer or cash (i'm afraid we don't accept cheques). If organised early enough, this first payment could also be arranged via a Standing Order Mandate.
All further payments for rent will be made via Standing Order Mandate and in-line payment dates/amounts outlined in the tenancy agreement. Any non authorized change of payment dates is liable for a £30 late/unpaid rent charge. Redbrick Properties will not enforce any Late Fees from property applications from the 1st June 2019 onwards.