Frequently Asked Questions
Q. What is a guarantor?
A. To qualify as a guarantor, the person will need to be a home owner and have an income to cover the financial commitment, and be free from County Court Judgements recorded against them.
Q. Will my deposit be protected?
A. Yes, through the DPS (Deposit Protection Service), or My Deposit. They are independent government approved schemes that aim to fairly resolve any disputes between landlords and tenants.
Q. Am I committed to pay rent for a fixed term?A. Yes, depending on the length of the tenancy you sign, you are legally required to pay the rent until the contract ends.
Q. What does jointly and severally liable mean?A. Where there is more than one tenant signing an agreement, all tenants are jointly and severally liable. This means that each tenant can be held responsible for the agreement and paying of rent and not just a share of it. Be sure about the people that you agree to share with as if they fail to pay the rent, you can also be held liable. The tenants are jointly and severally responsible for the property as a whole and for the deposit as a whole. If damage is caused by one tenant but exceeds the amount of his or her deposit, deductions can be made from his or her house mates deposits if the damage exceeds the entire deposit, ALL tenants will be responsible for the additional monies due
Q. Will my belongings be covered by the Landlords insurance?A. No, tenants must take out insurance for their own belongings.
The Deposit (bond)
When we manage the property your deposit will be equal to one month rent plus 100 and it will be protected with MyDeposits or DPS. They are independent government approved schemes.When we only Let the property for the landlord who manages it themselves, the deposit amount may vary (from the equivalent of one month rent to 6 weeks rent), and sometimes the Landlord may choose to protect the deposit themselves.