Contract procedure

What will I have to pay when signing the contract?

The tenant will have to provide one months rent in advance upon signing the contract. Following the 1st months rental payment, you will be required to pay your rent ether by Direct Debit or post dated cheques depending on the landlords requirements.

However, some landlords have different arrangements therefore upon signing the contract a Let Wise representative will inform you of the payment method.

If you move into the property in the middle of the month the rent will generally be calculated on a daily basis up until the end of the month and worked out thereafter on the 1st of each month.

A deposit is also required before taking occupation which is generally 1 months rent plus £100, however some landlords ask for larger amounts of deposit. If Let Wise Manages the property then Let Wise will hold the bond deposit, however if the property is not Managed by Let Wise, the landlord will hold the bond deposit separately.

How should I pay the bond and rent?

The bond and rent should be paid in cleared funds i.e. Bankers draft or Direct into our Bank Account if the tenant wants to move into the property within 5 days of signing the contract.

There is a charge from the bank for bankers drafts. Tenants will not be able to move into the property without cleared funds. You can find more information in Bond Deposits

What kind of contract will I sign?

Assured Shorthold Tenancy Agreement

This is the name of the commonest form of arrangement for the letting of houses or flats by private landlord and agents. They were introduced by the Housing Act 1988. Depending on the landlords requirements it will determine whether he will offer you a 12 or 6 month contract.

Once you have entered into a Tenancy Agreement you are legally bound to the contract until the end of the Tenancy Agreement.

Therefore at this stage you must be very sure that you want to proceed with the property and that you have read the contract very carefully. If you wish to download our contracts, use one of the links below:

• Management contract
• Letting contract

What is a Joint Tenancy?

Joint tenancies can be agreed with two or more people from the outset of the tenancy. Each tenant is then responsible jointly and individually for meeting the terms of the tenancy in full including paying the rent. Therefore if one joint tenant leaves the property before the end of the tenancy without your agreement and you cannot recover the rent due from him, the remaining tenant will be responsible for paying the full rent. Under a joint tenancy, all the tenants have equal rights.

Therefore if you have any doubts about living with anyone you should not proceed as you will be jointly liable for the full rent.

Can the tenant leave during the tenancy?

As a tenant, if you wish to terminate your tenancy before the expiry of the contract, you have the two following options:

• Continue to pay the rent until the end of the tenancy
• Find a suitable replacement, subject to the landlords, and other tenants permission