At Michael Jones, every one of our tenants is a valued client. We work hard to ensure your property rental experience is as smooth and transparent as possible. To that aim, we have put together the guide below which details some of the information potential tenants will need to provide. Every rental is unique, so the guide is not exhaustive; however, it does answer the main questions regarding tenancy eligibility and can help you prepare for moving into your new home. If you are thinking of renting in Lancing, Worthing, Rustington or surrounding areas, one of our trusted landlords may have exactly the home you are looking for. Whether you are a first-time renter or an experienced tenant, we are here to help.
The monthly gross income of the tenant(s) must equate to two and a half times the monthly rental figure. For example, if the rent is £700 pcm, the gross salary of a tenant must be at least £21,000 per annum (£700 x 2.5 x 12)
If your circumstances match any of those listed below, then you will need a guarantor (preferably a homeowner), who is earning three times the annual rent (before tax). Guarantors are required to sign a deed that makes them responsible for any rent, damage or legal fees that are not paid for by the tenants.
The figure you will pay represents one month’s rent in advance, deposit and an administration fee along with any applicable fees outlined in the ‘other fees’ section below. An example of the monies required (based on a rent of £700 pcm) is shown below:
*This includes fees for agreeing the tenancy, referencing, credit searches, preparation of tenancy agreement, schedule of condition (tenant’s share) and tenancy negotiation.
All tenants can be assured that their deposit monies are kept in a ‘ring fenced’ account and protected by the Dispute Service Ltd. A certificate will be issued upon registration of the deposit funds.
You will be provided with a full inventory/schedule of condition at the start of your tenancy outlining the condition of the property and current meter readings.
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