Tenancy information and Fees

Application Process

There is currently a high demand for rental properties in Plymouth, and we usually receive many enquiries for each available property. We strongly believe on matching the needs of both landlords and tenants, which is why we do not operate on a first- come, first- served basis. We try and ensure that each available property is a good fit for both the landlord and the tenant. This minimises stress and makes the letting process as efficient as possible.

Arranging a Viewing
When you apply to view a property with Ocean Properties you will normally be asked to complete a ‘Viewing Form’. This requires certain basic information to ensure that you will be a good fit for the property. Once you have returned the form, we will then decide which applicants to invite for a viewing. Please note that due to the amount of applications we receive, we are unable to offer a viewing to every applicant. If we do not contact you, then unfortunately on that occasion you were unsuccessful.

Viewings
Each viewing usually lasts around 10 minutes. All our viewings are carried out by a member of staff of Ocean Properties who will meet you at the property and guide you through the process and answer any questions that you may have.

Applying for a property
If you like the property and would like to apply, we ask that you contact the office as soon as possible to avoid any disappointment. Most properties let very quickly. We will put forward your application to the landlord and a decision will then be made. If your application is successful, we will then ask for payment of the holding deposit (1 weeks rent). This will hold the property whilst referencing is carried out.

Referencing
Referencing usually takes 1-3 days and will involve a credit check, employer’s reference and landlord/agent reference. In addition, we will need to verify your identity and right to rent in the UK. If you do not have a UK passport you will need to obtain a government share code. If required, we may also request that you provide a guarantor.

Tenancy Agreement and paperwork
Once referencing is completed, we will then offer you the tenancy and agree a start date for it to begin. You will receive the tenancy paperwork for electronic signature via email. This is a Propertymark approved tenancy agreement and all the documents required under the Housing and Deregulation Acts. Once the tenancy has been signed, we then require payment of the remaining part of the deposit.

Moving in
The first month’s rent will be required at least 1 working day before the start of the tenancy. Your keys will usually be available for collection from 12pm on the day your tenancy starts. Once you have moved in you would normally receive an inventory and your deposit will be transferred to the Deposit Protection Service Deposit Scheme.

Fees

Under the Tenant Fees Act Letting Agents are only permitted to charge tenants certain specific fees. These are lised below:

Holding fee - One week’s rent - This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right- to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Deposit - Five weeks’ rent - This covers damages or defaults on the part of the tenant during the tenancy.

Overdue rent - Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Key replacement - Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of contract - £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of sharer - £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early termination - Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

A copy of our Tenant Fees Schedule can be viewed here: Tenant Fees Schedule