Compass are committed to helping you find the perfect property that meets your requirements and to make the letting process as smooth as possible. Tenancy Application / References Once you are decided on a property, you will be given an application form to complete and be asked to provide information for reference checks. We will also discuss with the Landlord any queries or requirements you may have. Security Deposit Before your tenancy commences you will be required to pay a security deposit. This deposit is passed to the Landlord for them to arrange for it to be protected. The deposit is held against any damages or expenses arising during your tenancy and will not be released until after the property has been returned in an acceptable condition and all the rent has been paid up to date. No interest is payable to either party. Tenancy Deposit Protection When you pay a deposit, your Landlord must protect it using a government authorized tenancy deposit scheme. This is to ensure you all or part of your deposit back if due and any disputes will be easier to resolve. Within 30 days of paying your deposit your Landlord is required to protect your deposit and provide you with information on it. This includes the contract details of the Tenancy Deposit Scheme and what to do if there is a dispute at the end of the tenancy. Inventory & Schedule of Condition An inventory and Schedule of Condition of the property, it’s contents, furniture, fittings and effects will normally have been prepared. It is important that you take care in agreeing the inventory and Schedule of Condition as it will form the basis of any claim for damages by your Landlord, at the end of the tenancy. At the end of tenancy the inventory will be checked again before your deposit is returned. Rental Payments All rent is payable monthly in advance by standing order. Please note that all standing order payments should be made 3 days prior to your rent due date to allow for clearance. Should you experience any financial problems during the course of the tenancy it is essential that you contact us immediately. Tenant’s Obligation You should be aware that responsibility for the property rests with the tenant during any tenancy. It is particularly important that any gas, electrical or water problems are reported immediately and the property is fully secured when you leave it unattended at anytime. During the winter months, necessary steps must be taken to prevent freezing water and heating systems. In leasehold properties, mainly flats and maisonettes, the tenant will be bound by the rules and regulations affecting all residents within the block contained in the head lease. You will need to deal properly with any condensation within the property. Other The asking rent does not include charges that may be payable before and / or during the duration of the tenancy, therefore you may be required to make one or more of the following permitted payments. • A refundable holding deposit of up to 1 week’s rent. • A refundable tenancy deposit of up to 5 week’s rent. • A payment to alter the tenancy agreement, when requested by the tenant of up to £50.00 inc. VAT or reasonable costs incurred if higher. • Payments associated with early termination of the tenancy when requested by the tenant can vary. • Interest, at a rate of up to 3% above the Bank of England’s base rate, for late payment of rent (which is more than 14 days overdue). • A default fee for the replacement of a lost key or security device. Payments to service providers in respect of utilities, communication services, TV Licence and Council Tax. Other payments, permitted under appropriate legislation, including damages. Compass are members of the Property Redress Scheme and the Property Mark client money protection scheme.