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info@elliottdavis.co.uk

 

Before you sign anything, ensure that you are given enough time to read and understand the tenancy agreement. You should receive the document well before the date the tenancy is supposed to commence. The first month’s rental is usually paid in advance including a security deposit or bond.

Expect these advance payments to be made by BUILDING SOCIETY CHEQUE, BANKERS DRAFT, BANK TRANSFER OR BY CASH, which have to be cleared funds. (Personal cheques are not seen as cleared funds and so are not usually accepted).

The purpose for the deposit/bond is to cover damage or breakage that takes place during your tenancy, or for any breach of your tenancy terms and agreement, such as default in rental payment or unpaid bills. Once everything is deemed to be in a satisfactory condition, your deposit/bond will be returned at the end of your tenancy.

Paying future rents will be set up for you by the Landlord or agent. It could be by cash, cheque, direct debit or standing order. For monthly payments, the due date will be the commencement date of the tenancy.

Always be sure to go through the inventory by the day you occupy the property. Ensure that what is written down is accurate and note discrepancies or omissions before you sign.