Tenancy info Refundable Holding Deposit: A holding deposit will be required in order to secure the property.
By paying this holding deposit you give your consent for this said holding deposit to be held on account until your first month’s rent becomes due. (Typically, within 90 days). The holding deposit will be paid towards your first month’s rent. The holding deposit will be collected by Wise Property Management on behalf of Wise Living as soon as we have checked through the application process with you. At which point the property will be removed from the market.
If you apply for a property with us your data will be shared with Let Alliance. We use your data in line with our Privacy Policy. The holding deposit is equivalent to one week’s rent rounded down to the nearest £10 e.g if your rent is £750 pcm then the holding deposit will be £170 (750×12/52×5). Wise Property Management may retain your holding deposit if:
- You provide misleading information on your application form
- You fail a Right to Rent Check
- You change your mind about the property and withdraw your application
- You have failed to take reasonable steps to enter into the tenancy
Security Deposit: your Deposit will be registered with the Deposit Protection Service for the duration of your tenancy. The Wise Living team will contact you to advise when all payments are required (equivalent to 5 weeks’ rent).
Pet Rent: where permission is given for a pet to reside at the property, the rent may be increased per month to include a pet rent.
First Month’s Rent: your first month’s rent is due in advance. The Property Hub Lets Team will contact you to advise when all payments are required. 1 months’ rent (less any holding deposit that has been collected).
Criteria for Application: all applications are based on minimum verifiable household affordability of 30 x the monthly rent payment. If the applicant has historic or current credit issues such as CCJ’s, IVA’s, DRO’s, Bankruptcy then these must be disclosed to the letting agent before a holding deposit is paid so they can establish whether you are likely to be accepted for tenancy.
All applicants are referenced through Let Alliance against criteria agreed with the Landlord and will include proof of identification, proof of residence, credit check, Right to Rent check and proof of income, passing a reference does not constitute acceptance for tenancy and the Landlord can decline and applicant without reason.
All offers to tenancy are made Subject to Contract.
