In order to reserve a property you will need to pay the first week’s rent as a holding deposit. Once your application has been approved this money will then be treated as part of your initial rent. Please note that if your application isn’t successful your money will be refunded to you so long as the application you provided to Stone & Long was accurate and truthful information, and the right to rent checks are provided and valid. Please note your credit score will need to be above 550 out of 856 otherwise your application will be deemed to be unacceptable. If your credit score does come back lower than this or if you have any CCJs we may be able to look at alternative options, for example securing a UK-based guarantor.
Once your application has been approved you will enter into an Assured Shorthold Tenancy to rent the property. At that time you will be required to pay a refundable security deposit which will be equivalent to a maximum of five weeks’ rent depending on the property. The deposit will be protected using the Tenancy Deposit Scheme (TDS). Please note we can use the deposit to recover claims for damages caused to the property at the end of your tenancy. We would not deduct any money from your deposit at the end of the tenancy due to fair wear and tear.
If you do not comply with the terms of your tenancy agreement, other fees may be payable, which will be outlined in your tenancy agreement. Examples of these are below:
Lock out – if you lock yourself out of your property, you will be charged for the time it takes for a member of staff to attend the property to provide you with access
Replacement key – if you lose your key you will be charged for a replacement key and for the time taken to obtain the key and deliver it to you.
Change to a tenancy agreement – if you request a change to your tenancy agreement, for example changing the date of payment of your rent or changing a tenant, you will be charged an appropriate and reasonable fee.