Services to Tenants

Tenancy Information
There are Deposits and costs that become payable by a Tenant before signing a tenancy.
Please read this information carefully before viewing a property, paying any holding deposit or signing a tenancy.

Applying for a property and Paying the Holding Deposit.
Complete an Application form and pay a Holding Deposit.
To reserve a property you will need to pay a holding deposit equivalent to one weeks rent. This will be returned and form part of the Balance of the first months rent. The Application Form for a Property requires immediate completion signing and returning to our office. Payment of the Balance will then be requested, should your application be successful. Should the Landlord withdraw, the holding deposit will be returned within 7 days.

Guarantors and when one will be necessary or requested.
When Housing Benefit will be claimed it is important to check the rate for the area you intend to rent in by telephoning the local County Council. Please note, it varies between counties what you are currently receiving will not apply to a property in another area.
If you are claiming Housing Allowance or Universal Credit in most cases the housing element is below the income requirement to pass referencing so we would require, under most circumstances that you provide a Guarantor who is a UK Home Owner and has an annual salary of 3 times the annual rent amount or a non-home owner that has an annual salary of 3.75 times the annual rent for the property. You will also need a Guarantor if you have a poor credit history such as a County Court Judgement or Bankruptcy.
If you are not eligible for HB, and your salary/wages or earnings fall short what is required for a property, you will also need a Guarantor.

Should your application be unsuccessful for one of the following reasons, the holding deposit will not be refunded.
- Should any relevant person (including guarantor) withdraw.
- Provide false or misleading information
- Fail to take reasonable steps to enter the agreement within 15 calendar days or an otherwise agreed date.

Method of Payment-
- Sorry we do not accept credit card payments.
- Final balance must be paid via bank transfer and the rent thereafter must be paid by standing order.

Security Deposit
Equivalent to 5 weeks rent.
The Deposit covers Damages and/or Defaults during the Tenancy, and is Government Protected. Further information about our chosen scheme is available on request.

Additional Charges. (When Applicable)

Late Rent.
After the first 7 days from the rent due date, there will be a charge for late rent at 3% APR above Bank of England Base Rate each day it remains unpaid.

Lost Keys, FOBS etc
Tenants are liable to the cost of replacing any lost keys, or other security devices. If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys will be charged to the tenant, along with a fee of £15 per hour, including vat as an arrangement fee.

Damage to Property
Tenants are liable to the actual cost of rectifying any damage that they cause to a property as a result of negligence, misuse or failure of the Tenant (includes visiting family and friends) to act reasonably, plus an hourly fee of £15 including vat as an arrangement fee.

Missed Appointments - Tenants are liable for any pre-arranged appointments missed and are liable to Contractors charge.

Out of hours call-outs
Tenants are liable for any out of hours call-outs due to the fault of the Tenant, being the entire Contractors invoice.

Early Tenancy Termination Request by Tenant- Should the Tenant wish to leave their contract early, they will be liable to pay the Landlord’s Re-letting Costs, as well as the rent due until re-let, or until the end of the initial agreement. Costs will be no more that the outstanding rent on the tenancy. invoice.

Company Let Fees- please see our website for further details

Cornerstones Lettings Carmarthen are members of the Client Money Protection Scheme

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PROSPECTIVE TENANT INFORMATION

Accepting a holding deposit does not imply a Tenancy. It is accepted on behalf of the Landlord on the basis it is Subject to Contract and successful Referencing. Upon a successful Application the first month’s rent and a further 5 weeks(max) Security Deposit will be requested. A Property may be held for a maximum of 4 weeks or other specified agreed date before signing. Formal Identification- i.e. Passport or Drivers Licence will need to be copied.

Term The tenancy will be an Assured Shorthold Tenancy, which is normally 6 months (unless otherwise stated and when complying with the tenancy terms). The tenancy reverts to a periodic tenancy thereafter, on a month by month basis but only with the Landlord’s consent.

Security Deposit  A Deposit of 5 weeks rent will be taken by Cornerstones at a minimum of 5 Working days prior to the commencement of the Tenancy. Cornerstones, as Stakeholders following signing the tenancy agreement, will protect the Deposit via ‘mydeposits’ unless otherwise agreed by the Landlord, who can elect to protect The Deposit. This will be returned, less any agreed deductions(if necessary), after the Inventory has been checked, at the end of the tenancy.

Rental Payment  In addition to the Deposit, a minimum of One Month’s Rent is required 10 Working Days prior to the commencement of the tenancy. This is payable by Bank Transfer(made payable to Cornerstones 10 days prior to signing). Rent may also be paid 6 months in advance.

Rentis then calculated on a calendar month basis, payable without demand on the due date. Payment must be Standing Order Mandate which Cornerstones supply.

Council Tax and Utility Companies A list of utilities will be sent to you to contact.

Keys The Landlord/Agent will provide one set of keys for the property.

Inventory An inventory will be prepared listing contents and condition of the property, together with date-stamped images at the commencement of the tenancy. The inventory clerk will prepare this in the case of Managed Property.

Referencing Previous Landlords and Employment History are the two main sources of Referencing. Three months bank statements may also be necessary. In the case of Students and / Overseas Tenants we may require the details of a UK based Guarantor. A guarantor will be named in any agreement and will be required therefore to sign the tenancy agreement document.