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WHAT YOU NEED TO DO

Please indicate your current employment status:

  1. When you have found a property you will need to complete the necessary reference forms and return to Choice Estates with the £100 administration charge. (The £100 is non refundable once the paperwork is processed.)
  2. If the tenancy is a joint tenancy then there is a charge of £150 to reference check both tenants. (Again this charge is non refundable once paperwork is processed)
  3. Once references are successful, a date can be arranged to move into the property.
  4. On the start date of the tenancy the bond and one months rent must be paid upfront. (Cash must be provided or keys cannot be released until cheques are cleared).
  5. The tenancy will be for a minimum and maximum of 6 months, and Choice Estates will carry out regular inspection checks on behalf of the landlord.
  6. If you are in breach of your tenancy agreement Choice Estates are obliged to terminate the contract with a statutory two month eviction notice.

Tenants Requiring a Guarantor

A tenant will need to earn a gross income of at least 2.5 times the rental figure, or otherwise would have to provide a guarantor who must earn 3 times the rental figure, gross income.

Quick Reference ‘Rent to Income’ Chart

Monthly Rent (£) Tenants Annual Income (£) Guarantors Annual Income (£)
320 9,600 11,520
340 10,200 12,240
360 10,800 12,960
380 11,400 13,680
400 12,000 14,400
420 12,600 15,120
440 13,200 15,840
460 13,800 16,560
480 14400 17,280
500 15,000 21,600
520 15,600 18,720
540 16,200 19,440
560 16,800 20,160
580 17,400 20,880
600 18,000 21,600

 

All deposits taken are protected by the ‘mydeposit’ scheme.

IF YOU ARE UNSURE ABOUT ANY OF THE ABOVE INFORMATION, PLEASE DO NOT HESITATE TO CONTACT THE OFFICE.

Email: angelasmith@choiceestates.co.uk

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