EPC is an abbreviation of Energy Performance Certificate.
The EPC will also provide an energy rating, this is graded from an A (most efficient) to a G (least efficient) based on information about how energy efficient that property is. The EPC reports information about a property’s energy use and the associated estimated energy costs. It also provides recommendations to the owners about how they can improve their energy consumption and potentially save money. Click here to see an example of an EPC.
It is a legal requirement that all rental properties should have an energy rating of at least an E (some exemptions apply). It is almost certain that the law will be changed to require an EPC rating of C for rental properties in the next few years.
A security deposit is a payment required by a landlord from a tenant to cover the expenses of any repairs of damages to a property greater than normal "wear and tear”. The maximum-security deposit any agent or landlord can request is the equivalent of five weeks’ worth of rent.
For example, if a rent was £650 per month, then the deposit should be no more than £750. We offer a deposit alternative at youngsRPS whereby tenants pay a one-off fee of a weeks’ worth of rent or £120, whichever is the higher, this then covers the landlord for the equivalent of up to 6 weeks’ worth of damage.
A holding deposit is a payment to a landlord or agent to reserve a property. youngsRPS request a holding deposit of the equivalent of one weeks’ worth of rent. An agent can only retain a holding deposit in certain circumstances:
- The tenant fails the Right to Rent check
- The tenant provides false or misleading information
- The tenant decides not to enter into the tenancy agreement
- The tenant fails to make all reasonable steps to enter into the tenancy agreement
The holding deposit will be returned to the tenant if the landlord decides not to rent out the property.
Yes, we do allow a Zero Deposit, subject to landlord approval. A Zero Deposit scheme is an alternative to a traditional cash deposit, it is designed to cut the upfront cost of renting for tenants whilst providing the same level of protection for landlords. Referencing, check-in and check-out procedures all remain the same, and if there is any damage to the property, or unpaid rent, the tenant will need to reimburse the landlord themselves.
Our online referencing system checks tenants against four criteria:
- Residential history
- Income and affordability
This process is completed online, usually within a few days.
Yes, guarantors are accepted. The guarantor will need to pass a similar online referencing check, they also need to earn at least three times the monthly rental share.
Initially, we inspect a property three months into the tenancy agreement. If, after this initial inspection, we are satisfied the property is being maintained to a good standard, inspections will take place every six months thereafter. With prior permission from landlords, longer term tenants may reduce to an annual inspection.
You can find information on out tenancy fees by clicking here