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Our Guide to Renting

It's can be a complicated journey but below we help you navigate the path to finding your next home.

If you prefer to read the guide offline at your leisure then click here.  

Holding Deposit

When you have found a property that you would like to let, you will have 2 days to commit and pay a holding deposit.  This deposit ensures that the property is taken off the market, reserving the property and removing it from MILLENNIUM PARK HOMES’ availability list.  The holding deposit is usually 1 week’s rent (not subject to VAT), which will be requested from prospective Tenants.

 

When Tenants pass all checks that are required by MILLENNIUM PARK HOMES, the Holding Deposit will make up part of the 1st month’s rent due. Should the Tenant withdraw from the perspective letting and through no fault of the Landlord or MILLENNIUM PARK HOMES, all of the Holding Deposit will be withheld in order to cover any reasonable cost (This is explained fully in the Tenants Terms and Conditions).  Other occasions in which the holding Deposit maybe withheld are:

 

The Tenant Fails a “Right to Rent’ check

The Tenant Provides ‘false or misleading’ information

The Tenant misses the ‘Deadline of the Agreement Date’, usually 3 Calendar days from when we have received the Deposit (unless otherwise agreed).

 

It is essential that you disclose all relevant facts that may adversely affect your reference outcome, prior to providing the deposit. This may save you time and money.

 

All administration and reference fees associated with moving in and moving out are FREE at Millennium Park Homes.

 

In respect to Company Let please speak to one of our agents.

 

 

A Nil Deposit Guarantee is an alternative to a traditional tenancy deposit. It provides the same level of financial protection and security to landlords, whilst reducing the upfront costs to tenants.

 

With NIl Deposit, tenants will still complete their referencing checks as per the usual process and will remain wholly responsible for any financial loss or damage covered by their Assured Shorthold Tenancy agreement.

 

If a landlord offers the choice of a Nil Deposit, tenants can choose between Nil Deposit and the traditional cash deposit. Nil Deposit still offers cover up to the value of six weeks' rent whereas under the Tenant Fee Act 2015 most tenant deposits will be restricted to the value of five weeks' rent only.

 

Click here for more information for tenants.  

Tenant Referencing

All tenants who choose to rent with MILLENNIUM PARK HOMES must have a reference check performed before going ahead.  Our Tenant Portal allows you to easily enter all the necessary information in order for the application process to move forward quickly and smoothly, making the referencing as process simple as possible.  So, when you find your perfect home we will need the following information to hand in order to upload: 

 

  • Photographic proof of ID (i.e. Passport or drivers licence).

  • Proof of income.

  • Bank statement

  • Proof of UK residency status

  • Proof of address

  • Previous Landlord references. 

  • Students, usually require a Guarantor or some proof of funding. 

 

If you have all this information at hand when in the Referencing section of the Tenant Portal the application will not take more than 15 minutes to complete. 

Tenant Referencing

All tenants who choose to rent with MILLENNIUM PARK HOMES must have a reference check performed before going ahead.  Our Tenant Portal allows you to easily enter all the necessary information in order for the application process to move forward quickly and smoothly, making the referencing as process simple as possible.  So, when you find your perfect home we will need the following information to hand in order to upload: 

 

  • Photographic proof of ID (i.e. Passport or drivers licence).

  • Proof of income.

  • Bank statement

  • Proof of UK residency status

  • Proof of address

  • Previous Landlord references. 

  • Students, usually require a Guarantor or some proof of funding. 

 

If you have all this information at hand when in the Referencing section of the Tenant Portal the application will not take more than 15 minutes to complete. 

Payment

Once references have been successfully obtained accepted by the landlord the following amounts will be due.

  • A security deposit of 5 week’s rent. (unless the yearly rent is more than £50,000 per year, in which case a 6 weeks deposit will be due.)

  • This will be placed with the ‘DEPOSIT PROTECTION SERVICE’ and a certificate will be issued stating that the monies are being held in a safe account.

  • The 1st month’s rent in advance minus the security deposit that was initially paid to reserve the property.

 

The amounts stated above must be cleared before the tenancy commences, these payments can be made either via bank card or bank transfer using the tenant sign up portal.  

Tenancy Agreement

Once all monies have cleared and final checks completed the ‘Tenancy Agreement’ will be available for all parties. The purpose of the Agreement is to outline both the Tenant's and Landlord's respective obligations. 

 

It is common practice that Tenancies run for a period of twelve months.  Just before the Tenancy comes to an End the team at MILLENNIUM PARK HOMES will contact you to determine if you would like to ‘Renew’ your agreement for a further period. We will then speak to the landlord to organise the documentation that may be required for the renewal.  Although MILLENNIUM PARK HOMES organise the agreements, the legal agreement is made between the ‘Tenant’ and the ‘Landlord’.

 

A sample copy of the intended agreement will be provided to you so you are able to go away and read all the Terms and Conditions carefully.  If you have any questions when you have read the Terms and Conditions, which when signed because LEGALLY binding, please seek independent legal advice. 

 

We allow tenants and guarantors 5 days to complete their referencing forms, pay their move-in monies and sign the tenancy agreement.

Rental Payment

Before the tenancy commences you will be informed who is managing your property; whether it the Landlord or MILLENNIUM PARK HOMES.  At this stage, we will provide you with the appropriate bank details where the rent is to be paid.  We suggested that you allow 2-3 working days before the rent is due in order to allow the funds to clear and arrive into the appropriate account on time on the due date.

Repairs and Maintenance

If the property you rent is ‘Fully Managed’ by us, then all maintenance, repair and all other issues must be reported to us, allowing MILLENNIUM PARK HOMES to determine a solution as quick and efficiently as possible.  Any problems MUST be reported as soon as the issue arises.  If you DO NOT report the issue, then the you may be held responsible for damage caused as a result of not reporting it sooner. Information regarding who to contact will be provided to you as part of your welcome ‘Tenant Manual’. It might be the case that you have to contact your landlord directly regarding maintenance if he/she decides to manage the properties themselves during the tenancy.

Notice To End a Tenancy

To end your tenancy (Subject to Terms and Conditions), you will normally be required to give us at least one month notice in WRITING of your ‘Intention to Leave’, unless otherwise specified in your specific Tenancy Agreement.

Inventory

The aim of an inventory is to determine if there are any damages which are present at the start of a new tenancy.  The inventory protects both parties, ensuring that an accurate description, with photos, is provided regarding the condition and contents that are present in the property on commencement of the tenancy

 

Under the terms of the Tenancy Agreement, the TENANT is required to return the property and contents at the end of the tenancy to the same condition as they were at the commencement, fair wear and tear is accepted. This will be done by preparing a Check-Out Inventory, which will determine whether damages were caused during a tenancy; this cannot be determined without an appropriate inventory.  Both the Check-In Inventory and Check-Out Inventory must be signed by all relevant parties.

 

It is common practice that an Inventory is carried out by a Clerk who is instructed by the landlord, in some cases the Landlord may perform the Inventory themselves and the same process of signing is completed to confirm that both parties are satisfied with the report prepared.

 

The cost of the Inventory is SOLELY the responsibility of the LANDLORD, both at Check-In and Check-Out. 

Property Inspections

The aim of an inventory is to determine if there are any damages that are present at the start of a new tenancy.  The inventory protects both parties, ensuring that an accurate description, with photos, is provided regarding the condition and contents that are present in the property on commencement of the tenancy

 

Under the terms of the Tenancy Agreement, the TENANT is required to return the property and contents at the end of the tenancy to the same condition as they were at the commencement, fair wear and tear is accepted. This will be done by preparing a Check-Out Inventory, which will determine whether damages were caused during a tenancy; this cannot be determined without an appropriate inventory.  Both the Check-In Inventory and Check-Out Inventory must be signed by all relevant parties.

 

It is common practice that an Inventory is carried out by a Clerk who is instructed by the landlord, in some cases the Landlord may perform the Inventory themselves and the same process of signing is completed to confirm that both parties are satisfied with the report prepared.

 

The cost of the Inventory is SOLELY the responsibility of the LANDLORD, both at Check-In and Check-Out. 

Client Money Protect

Every year, unprotected landlords and tenants lose money when funds are misappropriated.  The best way to ensure money is kept safe especially if something goes wrong is to always choose an agent who has Money Client Protect.  We have ensured that all Client Money has been safeguarded.  View our Money Client Protect Certificate.  

Council Tax & Utilities

It is the tenant’s responsibility to pay for utilities and council tax during the time of the tenancy. Our tenant portal will remove the hassle for tenants in changing utilities into their name.

Deposit Returns

All ‘Security Deposits’ are kept in the DEPOSIT PROTECTION SERVICE’s accounts.  When your tenancy ends with us a MILLENNIUM PARK HOMES an inspection of the property with be carried out, usually in the form of an Inventory, by either the Landlord or the Inventory Clerk instructed by the Landlord. If both you and the come to an agreement, the deposit will be return to you minus any deductions that may need to be made.

If you have any questions about the rental process then get in touch and of our experienced staff can guide you through it.

Here's the small print

We believe in being open and honest with our fees so click here for the small print.

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