Discounts, Deposits & Legals

Summer Discount Scheme

Our rents are all quoted on a per week per person basis for our 52-week tenancy.

In August/September however you might not require to occupy your house. So, for new tenants, we do a HALF PRICE discount scheme which applies for every day you leave the house empty for up to 8 weeks. You choose how many discounted weeks you want!

This rebate and any advance rent you pay to secure the tenancy will both be reflected when calculating what you pay as your first main rent instalment. (Usually in October to tie in with your loan receipt).

Deposits

HOLDING DEPOSIT

In order to secure a tenancy with us you will need to pay just one week's rent per person to act as a Holding Deposit. The sum paid converts to a weeks rent, once papers are finalised and is offset against the rent due in October as described above.

TENANCY DEPOSIT

This we collect quite soon after the paperwork for the tenancy has been completed to everyone's satisfaction & signed by all parties. We write in an agreed date for payment that suits everyone. Typically 30 days on. It is a refundable £300 each.

The DPS then hold your money throughout your stay.

When you leave we undertake an inspection of the house. Assuming all T&Cs have been complied with (basically, all rent has been paid, there is no damage to the house and all rubbish has been removed) we authorize DPS to refund your deposit within 7 days.

IMPORTANT: With us typically 95% of tenants receive a full refund. Compare that with other landlords!

Rent Schedule/Timetable

Broadly our agreements are set up to make life easy for you, by aligning the rent payment dates to expected Student Loan receipt dates, Alternatively you can opt to pay monthly by Standing Order for 10 months on 6th of each month commencing in August. The total payable will be the same.

What do you have to pay and when?

So here we set out a typical pattern of payments from the start of the process of seeing a house advertised through to moving in, living there and finally departing:

  • See house advert raise queries, discuss.
  • Decide to go for it. PAY 1 weeks rent each as Holding Deposit.
  • More questions, complete papers within 15 days & agree when Tenancy Deposit to be paid (usually within 30 days of signing agreement). Once signed, the Holding Deposit converts to one weeks rent too.
  • PAY the Tenancy Deposit of £300. Remember this is refundable and will be held for you by independent DPS
  • August- PAY £400 each in rent, this acts as a trigger to get the keys. Move in,
  • We now calculate the remaining balance for year.

This will be your weekly rent x 52 then deduct::

The one weeks rent you paid at the start which was originally the Holding Deposit.

The £400 you sent to get keys

Total discount if any you have qualified for during Aug & Sep by delaying your arrival (as described at top of this page).

So having done that calculation. Divide the answer by 3 and that is the amount of rent you PAY in Oct and in Jan and in April.

Move out- assuming you have complied with all the terms of the Tenancy Agreement we authorise return of your £300 from DPS.

*What is a Lead Tenant?

This is the term used by DPS (Deposit Protection Service) who are one of 3 government backed Not for Profit organisations set up to look after all tenant’s deposits money nationally.

Since 2007 it has been the law that landlords must use one of these bodies to hold the funds, we can no longer hold the money in our own bank accounts (or spend it!!!) like we used to.

Where a tenancy is being taken by a group of sharers, as is case with students, the DPS will only deal with one person (it keeps their admin simple!) that is what they call the “lead tenant”. So, our Tenancy Agreement formally appoints one of you to be that person.

All it means in practice is essentially this:

  1. We ask the Lead Tenant only, to initial all pages of the Agreement in the bottom right just to legally “bind together” all the pages and thus form them into the one document. This is then signed at the end by the landlord and all the tenants..
  2. Your individual Tenancy Deposit money (£300 each) is to be sent firstly to the Lead Tenant. When they have all of it, they then send it in one lump sum to us. That acts as the trigger for us to acknowledge receipt of the money and lodge it with DPS within 30 days.
  3. All of the four instalments of rent you pay (if you pay termly), will be similarly via the Lead Tenant.
  4. At the end of the tenancy the deposit money refund will firstly be authorised by us with DPS. They will then pay back all the money authorised, to the lead tenant. It is then the lead tenant’s job to distribute the money onto all the other individuals in the group. So, choose someone honest! If DPS do need to communicate with your group (unlikely) it is the “lead tenant” they will speak to.
  5. During the tenancy where when we communicate with you, say by text or WhatsApp etc, any information we give to the lead tenant is deemed to be given to the whole group, so they must share the message with the group. Most commonly this might be what day and time we propose calling round to do a repair. In practice we always recommend the Lead Tenant set up a WhatsApp Group for this purpose so it makes it easier, and everyone is kept fully up to date.

If you would like to see a copy of our Tenancy Agreement please just use the Contact Us page and request one


Guarantors

We require each student to ensure a parent (or equivalent) completes our Guarantor Form. This just covers us in the unlikely event of a student being unable to fulfill the agreed terms of the Tenancy Agreement. You can download a copy here to forward on.

If this is going to be an issue for you, a company called housinghand may be able to offer you a Guarantor service to assist.

GDPR

Our Approach to Data Protection:

We store your data on a computer, so as the law requires, we are registered with the Information Commissioners Office.

No need for any concern though, we only keep basic information.

We NEVER pass this on to marketing companies etc, we share this only with:

  • The DepositProtectionService (DPS) who look after your deposit money.
  • The Uni and UNIPOL if requested, for good reason.
  • Nottingham City Council in relation to queries around Council Tax liability.
  • HMRC in the event of queries around our tax position.
  • Law enforcement agencies

We would also share your phone no. (only) with:

  • Contractors employed to carry out repairs at your house & utility co’s so they can arrange access.
  • Fellow tenants in your own house in the event of failed communication.
  • Prospective student tenants for arranging access for viewing purposes.
  • For any other reason, we would seek your permission first.

We send a letter to every new tenant explaining your rights & giving our Reg No