We've created a handy guide to help you understand what happens during the sign up and move in process, and what we need from you to be able to secure your tenancy.
From the date of paying holding deposits, you'll have 2 weeks to pay the balance deposit and 3 weeks to complete all paperwork and ID checks. Once this deadline has passed, the property will be placed back on the lettings market, which means that if another group takes the property and completes all paperwork before you, then they will proceed with the property.
If you, or your group, pay a holding deposit, this is non-refundable unless the landlord decides they no longer wish to proceed with the tenancy, or, unless the reason is due to us being provided incorrect information prior to paying the holding deposit - for example, if you're unable to provide a guarantor when you've previously stated you can.
If you, or your group, take longer than the 3 week deadline to complete the sign up process and then another group takes the property, you will lose your holding deposit. If you, or your group, put a holding deposit down on a property where there is already a group proceeding, but they've surpassed the 3 week deadline, you'll be refunded your holding deposit if you miss out and have not surpassed the 3 week deadline.
We require application forms to be completed within 48 hours of paying the holding deposit, including guarantor details so we can send out all paperwork which requires completion. Applicants are provided a payment schedule at the point of sign up detailing when the balance deposit and subsequent rent payments will be due, along with the amounts.
For students, guarantors must be provided unless you're able to pay for the years' rent for the property up front. All of our tenancy agreements are on a joint and severally liable basis, so all tenants and guarantors are jointly liable for the full rental amount and condition of the property. This is not something that can be changed, so you should make sure your guarantors are aware of this before paying your holding deposit, as you'll lose this if you're unable to provide a guarantor later.
Each tenancy will have an appointed person who will act as a Lead Tenant. All communication would go through the Lead Tenant, so make sure that person is a good communicator and somebody you trust to take on this responsibility.
All payments must be made from one bank account and not made individually, unless rental payments are being made annually rather than monthly. We recommend setting up a joint bank account whereby a standing order will be paid from the account to ourselves, preferably looked after by the Lead Tenant, if the property is managed by Seekers.
We will confirm in writing when all paperwork is complete, so if you've not received this email then you should assume there is still paperwork or payments outstanding and contact us to discuss. We'll contact you around 10 days prior to the start of the tenancy to arrange key collections and provide you with a Tenant Pack, which will advise you of everything you'll need to do once the tenancy starts, along with what processes to follow during your tenancy.
If you have any further questions, you can contact our Property Management Team on 0191 243 1000, or visit our Percy Street office.