At Mint Homes we pride ourselves on providing a friendly service and being an agency that our tenants can trust and ask advice from throughout the entire lettings process. Whether you are a tenant requiring a house share or the whole property, we are here to ensure your tenancy runs smoothly.
There are NO FEES to rent a property with Mint Homes. If you find a property that you want to rent then you can pay a holding deposit of 1 weeks rent per property to secure. More information below.
As letting agents we require references for all tenancies. For this we use a referencing company.
Please note that the referencing agency requires tenants to earn 30 x 1 month’s rent between them to rent a property (e.g. 30 x £600pcm = £18,000p.a.)
All applicants must be over 18 years of age and in permanent employment. If you are unemployed, in temporary employment or on a probationary contract, have a poor credit history, any unresolved CCJ's or are a student you will be required to pay all of the rent for the duration of the tenancy in advance. In addition to this you will require a guarantor, who will also be referenced.
As well as being referenced the guarantor will be named on the Tenancy Agreement and are required to sign the Tenancy Agreement.
A holding fee of 1 weeks rent per property is payable at the start of the application. For successful applicants the holding fee will be offset against the initial rent and deposit with your agreement.
Once the holding fee has been paid the landlord has 15 days to agree to proceed with the application or refund the full amount.
If the tenancy does not go ahead then the money must be repaid in full within 7 days of the deadline being reached or the landlord backing out.
Under the Tenant Fees Act, there are four grounds which a holding deposit can be retained by the letting agent or landlord. These are:
- If the tenant fails a right to rent check;
- If the tenant provides false or misleading information;
- If the tenant pulls out of the application process before the Deadline for Agreement (the Deadline for Agreement is 15 calendar days from the time the holding deposit was taken to when the contract is signed and dated by both parties);
- If the tenant fails to take all reasonable steps to enter into the tenancy agreement.
The holding deposit will need to be returned to the tenant if:
- The letting agent or landlord pulls out of the application process before the deadline for agreement;
- The letting agent or landlord fails to take all reasonable steps to enter into the tenancy agreement.
All applicants will be required to produce identification before a tenancy is completed. We require photographic ID (passport or driver’s licence) together with a recent utility bill or bank statement as proof of address.
Security Deposit or Zero Deposit Guarantee
Once references are successful and prior to moving into a property you will be required to pay a security deposit in addition to the first rent payment. The deposit will be equal to 5 weeks rent (6 weeks rent, where the annual rent is greater than £50,000.00).
We know that a large upfront deposit cost can be hard to find for many prospective tenants. With this is mind some of our landlords are now offering an alternative.
Tenants can purchase a Zero Deposit Guarantee for only one week's instead of up to five. This policy is non-refundable.
Although the fee isn’t refundable at the end of the tenancy the saving at the start can make all the difference.
At the end of the tenancy, if there are no damages or unpaid rent, then the guarantee will end and there is will be no further action. If there are any damages or unpaid rent, you will still be liable to pay for it. To ensure any dispute is resolved fairly these will be referred to The Dispute Service (TDS), a government approved tenancy deposit protection scheme. This YouTube video explains the benefits of an alternative to a cash deposit.
What happens to your Deposit
Under the provisions of the UK Housing Act 2004, any Landlord or Agent who takes a deposit from a Tenant for an Assured Shorthold Tenancy after April 2007, must register the deposit with a Government approved tenancy deposit protection scheme within 30 days of receipt.
At Mint Homes your deposit will be protected and paid it into the government backed DPS custodial scheme under our name, or that of your landlord if we do not manage the property. If the Landlord decides to register the deposit with an alternative Government approved tenancy deposit protection scheme they will have 30 days to provide you with this information and you will be given with the Landlord’s contact details upon the commencement of your tenancy.
Prior to your move in date you will be advised by our Lettings Team as to
whether Mint Homes will be registering the deposit on behalf of the Landlord and provided with the relevant documentation accordingly.
At the end of your tenancy the deposit will be returned once the property has been inspected by our staff, in liaison with the landlord, and we have received your forwarding address.