Calling all Students | Our guide to Kensington and Chelsea

Calling all Students!

Finding the right home from home is the key to having the best possible experience while you work towards your degree in a new city. This is why, here at tlc, we pride ourselves on having highly qualified Negotiators with exceptional knowledge, who can guide you through your search and help simplify the complicated paperwork associated with renting a property as a student.

 

Offer

Once you have made an offer on a property we will put this forward to the landlord and negotiate so that mutually agreeable terms are reached. Once terms have been agreed, subject to contracts and references, you will be asked for a holding deposit of 2 weeks rent to secure the property and prevent it being shown to other applicants by tlc Real Estate Services Ltd (tlc). In the event the tenancy goes ahead, this amount will be deducted from the final invoice. Should you not proceed with the tenancy or in the instance that your references are not acceptable, you will forfeit this money. In the unlikely event that the landlord does not proceed with the tenancy this money will be refunded less the cost of any referencing fees and any administration charges due (tenancy agreement fee).

 

References & Guarantors

When an agreement has been reached, tlc will ask you for a letter from your college/university that confirms your place there and a copy of your passport. On the date you move in, you will need 1 month’s rent and the further 6 weeks deposit (an administration fee per applicant is also charged). This money must be in cleared funds, i.e. Bankers draft or cash.

If you are a UK student, a UK guarantor will be required. The guarantor is normally a member of your family who must prove sufficient means to provide suitable financial checks. This person will be required to sign a legally binding document, which will make him/her responsible for the rent if any tenant defaults. If you are a non-UK student then we will have to take payment 6 or 12 months in advance as we cannot accept non-UK guarantors. Remember, until contracts are signed and exchange takes place, there is no legal obligation on either side.

Deposit

Tenants are generally required by landlord to provide a security deposit (Bond) prior to the commencement of the tenancy in order to secure the landlord’s financial position during the tenancy and when it comes to an end.

The amount of money required for this purpose will vary from letting to letting and is made at the absolute discretion of the Landlord, however Tenants should budget to lodge the equivalent of 6 weeks rent. From 6 April 2007, it became law for all Landlords to register a tenant’s deposit with one of three Government-licensed operators:

1. The Tenancy Deposit Scheme (TDS)

2. Tenancy Deposit Solutions Ltd (TDSL)

3. Deposit Protection Service (DPS)

This new legislation applies only to all new Assured Shorthold Tenancies (ASTs) commencing on or after 6 April 2007. It also applies to any renewed tenancies where a new (fixed term) tenancy is created after this date. tlc, at renewal stage, will issue new tenancy agreements to both parties, thus requiring the security deposit for a tenancy originally created before 6 April 2007, to be transferred to a Deposit Protection Scheme. Tenancy agreement charges are made to a tenant at the point of renewal.

Deposits collected by tlc for new “let-only” tenancies AND renewals will be passed to our client landlords with a letter requiring them to register and lodge the Deposit with their choice of one of the three schemes available. Tenants will then be notified once the deposit is protected.

 

Inventory Check-in

On the day of the commencement of the tenancy, an inventory check-in will take place at the landlord’s expense. Meter readings will be taken at this time. It is important prior to occupation that you register with all companies to ensure the services are connected.

 

During the Tenancy

All appliances on the inventory will be maintained at the cost of the Landlord. However, if a serviceman called to a property and reports that the damage was caused by improper use rather than wear and tear, the cost of repair/replacement will be the tenant’s responsibility.

You will be advised whether tlc Estate Agents is managing the property or not. If the Landlord is paying for this service you should report any problems to us as they arise in writing. Email annie@tlclondon.com so that they can be attended too quickly. If we are not carrying out this service, you would need to speak to the landlord directly or any other agent instructed to act on their behalf.

 

Inventory Check-out

At the end of the tenancy there will be an inventory checkout, the cost of which the tenant is liable for and is paid prior to moving in to fix the cost and ensure a swift deposit return. The property should be in a similar state to when you moved in. Please follow the check-in report carefully regarding professional cleaning of the property and carpets, curtains and other upholstery.