Isle of Wight Lettings

· What do I do first?
Obtain one of the up to date listings of property “Available to Let” from MOUNTFORD Lettings on 01983 61 68 68. Select a property or properties that appear on the list that suit your requirements and book an appointment to view, subject to availability of a member of staff.

· I like the property, what do I do next?
Obtain an application form from MOUNTFORD Lettings, complete fully, and return it to our offices at 2 The Colonnade, Lind Street, Ryde, Isle of Wight, PO33 2NE, accompanied by the relevant administration / application fee of (£76.00 plus VAT) £89.30, per person. This is non-refundable if adverse references are received in reply to our enquiries.

The information on the application form will enable us to carry out referencing on you. In some circumstances we may ask for a Guarantor; if one cannot be supplied this may prevent the tenancy going ahead.

· What is a Guarantor?
A Guarantor is someone who would offer surety to guarantee the payment of the rent or would cover other obligations of the tenant under the term of the lease, should the tenant fail any of his / her obligations. The proposed guarantor should have an income of three and half times the annual rent of the property you are proposing to rent.

· How soon can I move into my chosen property?
The vetting procedure should take no longer than a week to 10 days, in certain circumstances this time scale may vary. This should be discussed with one of our advisors. It would be expected that you would take up occupancy in no more than 3 weeks. If you cannot move in within this 3 week period please point this out to a member of staff prior to making your application.

· How do I pay my rent?
Rent is always paid monthly in advance. The preferred method is by Standing Order to MOUNTFORD Lettings. Personal Cheque or Cash are also acceptable when calling into Mountford Lettings office at 2 The Colonnade, Lind Street, Ryde, Isle of Wight, PO33 2NE on or before the relevant due rent date each month.

The first month’s rent must be paid prior to the tenancy commencing; this must be paid by Bankers Draft, Building Society Cheque or Cash on or before the moving in date.

If you choose to pay by cash or personal cheque, there is an additional charge of £5.00 for cash & £1.00 for a cheque. There are no additional charges made for Standing Order payments.

· Are there any other costs involved?
A charge of (£78.00 plus VAT) £89.70 is made for each Tenancy Agreement prepared for you.

· How much deposit will I need?
A deposit equivalent to that of one month’s rent is always required. Some landlords do occasionally ask for a slightly higher deposit, but this is not common. The deposit must be paid prior to the tenancy commencing; this must be paid by Bankers Draft, Building Society Cheque or Cash on or before the moving in date.

At the time of application, a holding deposit is required of £250.00, this is credited to your deposit once the tenancy has commenced. This is refundable if the application is declined.

· What type of Tenancy Agreement will I be asked to sign?
You will be given an Assured Shorthold Agreement, created under the Housing Act 1988 and its amendments under the Housing Act 1996. Quite commonly the initial agreement will be for a period of 6 months. Later agreements that may be granted under new tenancies, subject to the approval of the landlord, could be for a longer period.

· Who pays for the utilities during the Tenancy?
Quite commonly the rents quoted are exclusive of all bills. The Tenant is liable for items such as Gas, Electric, Water, Telephone, Emptying of Private Drainage and TV License.

· Do I need Insurance?
The Landlord insures the buildings and his / her own contents; however it is your responsibility insure your own contents and valuables. It is recommended that further information and advice is available from one of our Lettings advisors.

The Application process and payments

1) Upon application we ask for the application fee of (£76.00 plus VAT) £89.30 for each person over the ago of 18 who will be occupying the property, plus a £250.00 holding deposit.

2) Once satisfactory replies are back on the references provided, we will confirm the tenant verbally and a date. Upon signing of the agreement we ask for the balance of the deposit and the tenancy agreement fee of (£76.00 plus VAT) £89.30.

3) Finally, on the date you move in or before we require the first months rent. This MUST be in cleared funds by the start date of the tenancy.