All dimensions are approximate and any floor plans are for guidance purposes only. References to appliances and/or services does not imply that they are necessarily in working order. Whilst we endeavour to make our sales particulars as accurate as possible, all interested parties must themselves verify their accuracy.
Holding Fees & Deposit
The holding fee will be equivalent of one week’s rent which will reserve the property for you whilst the referencing checks and preparation for the tenancy agreement are being undertaken.
This is worked out as follows:
Monthly rent x 12 (months in a year) divided by 52 (the number of weeks in a year) = Amount of Holding Deposit to be paid by the applicant
This will be protected through membership of a client money protection scheme.
Your holding fee will be deducted from your first month’s rent on the day you come to sign the tenancy agreement and collect the keys to your new home. The holding fee will also be returned to the applicant within 7 days if the Landlord or agent choose to withdraw from the proposed agreement.
Coles Group have the right to retain your holding fee for the following reasons:
· The applicant provides false or misleading information
· The applicant fails a Right to Rent Check
· The applicant withdraws from a property
If Coles Group do retain the applicants holding fee they will set out in writing (via email or letter sent to their current address stated on the application form) why they are retaining the applicants holding fee within 7 days of deciding not to let the property to them or within 7 days of the “deadline for agreement” passing.
Coles Group will provide a copy of a blank tenancy agreement with the application form. If you require this to be resent, it is the applicant’s responsibility to contact Coles Group for this.
The applicant and Landlord will usually have until the 15th day after the holding deposit has been received to sign the new Tenancy Agreement for the property applied for, known as the ‘deadline for agreement’. However, this may be different depending on when the property will be ready or when the applicant would prefer to move. Coles Group will provide in writing when the proposed tenancy can be taken. This could be more or less than the 14 days outlined in the ‘deadline for agreement.’ Coles Group accept no responsibility if the applicant has not been able to collect all of the relevant references in order to pass the necessary checks within the agreed time. Without the required references, Coles Group will not be able to enter into a tenancy agreement until the checks have been satisfied.
If you have any questions regarding the application form, the applicant is to contact Coles Group before returning the completed application form and paying their holding fee.
Deposit:
A dilapidations deposit equivalent to 5 weeks rent is payable at the start of your tenancy (unless advised otherwise). The dilapidations deposit will either be held by Coles Group and registered with the Tenancy Dispute Service or in instances where we do not manage the property, the deposit will be held by the Landlord and registered in a Government approved scheme.
Please read carefully:
Upon the completion of my referencing I (the prospective tenant) agree for my Holding Deposit to be converted and contributed into my first months rent in advance.
For further details on this property please call us on:
01622 763322
