Before you even begin your search for the perfect home, you need to understand what your Budget is and what your requirements are in the property in terms of size, location, features and amenities.
Establishing what you can afford
There are two aspects to working out how much you can afford for your monthly rent.
To help you to calculate your monthly incomings and outgoings, we would recommend using this Budget Planner.
We do employee references with all tenants once they have found a property that they like. As a general rule, the requirement is for your annual income to be 30 times the monthly rent. So, if your monthly rent is £600, then you will need to show an annual salary of £18,000. If you do not meet this, then a guarantor may be required. If you are not sure whether you meet the requirements, you should inform us prior to making a formal application so that we can review and guide as to how to proceed.
Identifying location and requirements
While this is never set in stone, it is worth thinking about the following when you start your property search so that we can only show you properties that are likely to be of interest to you.
- What are the requirements for the location? – does it need to be close to a railway station, schools, supermarkets etc.
- Are you looking for furnished or unfurnished?
- How many bedrooms?
- Do you need any additional features such as a garage, off-street parking, study, dining room etc?
- Are you looking for a house or a flat? If a flat, do you have any preferences for which floor?
- Are you a smoker/non-smoker?
- Do you/Are you likely to have pets?
- Do you need a garden?
- Do you have any disabilities that have special requirements?
Searching and Viewing Properties
All of our properties are listed on the main portals like Rightmove and Zoolpa as well as on our own website. Once you find a property you like the look of, contact us to book an appointment. At this stage (if it is the first time you have contacted us), we will take certain details such that we can ensure that the properties you are viewing are suitable and so that we can contact you if any new suitable properties come up on the market.
Securing the property
Once you find a property though Localex the process is as follows:
- Complete an application form where you will need to provide details of your proof of identity, proof of address as well as details of previous landlord and current employment. Along with the form, you will need to pay a holding deposit equivalent to £300. Once the process is complete and you move in, this amount will be used against your Security Deposit. If however, you do not move due to you changing your mind or not passing references, this amount will not be refunded to you. Note that once you have paid a Holding Deposit we will no longer allow any further viewings to take place and nor will be take a Holding Deposit from other potential tenants for a period of 2 weeks (or earlier if references have not come back satisfactorily). If references have not been satisfactorily completed within 2 weeks, Localex has the right to begin remarketing the property.
- Once the holding deposit is received, we will immediately begin the referencing process. Reference checks are carried
- out to ensure that you have previously rented without any issues. Credit checks are carried out to ensure that you can afford the rent (an employment reference would also be used for this) and that you do not have any adverse credit history. This process can be very quick with the length of time usually determined by how long it takes for references from your previous landlord/letting agent and employer. In addition we will also do a Right to Rent check to ensure that the tenant/s can legally rent a property in England. Once the references have come back and both parties are ready to proceed, we would draft up the tenancy agreement.
The tenancy agreement would incorporate (amongst other things) a start date (the date you would move into the property) and we would expect the security deposit and first month’s rent to be paid at this time. We would also ask you to compete a standing order for subsequent rent payments. Prior to signing the tenancy agreement we would also provide you with a valid EPC and gas safety certificate.
On the moving in date, we will arrange a time to meet you at the property where the final pieces of administration are completed. We will provide you with various documentation including a Right to Rent booklet and a property inventory and schedule of condition. We would ask you to check and sign that you are happy with the report. This is an important step since it will be used at the end of your tenancy to determine if there are any deductions to be made from the security deposit. We will also take current meter reading to notify the utility companies of the new tenants.
Once this is done we will hand over the keys so that you can move into your new home.