Moving far from home and your family can always seem like a daunting task. However, at Pomp Properties we are here to make the process seamless and take the stress from you whilst you secure yourself that important degree. That’s why we have made this simple guide to allow you to understand what it’s like to rent a property in Central London!
The property market is a very competitive place, especially for students. Making an offer on a property that you and your housemates agree with is the fundamental start to you securing your new home.
Once the offer has been accepted by the Landlord, we will request from you a one week holding deposit to secure the property and to stop it being shown to other people looking. This reservation fee will be deducted from the final amount that you will need to pay.
For example, if a property is £525 per week (£2,275.00 per month) you will be required to pay a holding deposit of £525.00.
Once everything has been agreed, the Pomp Properties admin team will request from you a University/College acceptance letter and a copy of your passport/BRP.
Before you move in, you will need to pay your rental amount in advance and a 5 weeks security deposit. This has to be done before the tenancy otherwise you cannot move into your lovely new home!
Students from the UK are able to pay monthly as long as you have a UK based guarantor. A guarantor is someone that will sign the legally binding document making sure that they will be responsible for any rental defaults.
Guarantors are usually people from your family or a close family friend. They will need to provide our compliance team with appropriate documents for them to pass the financial checks.
Students from outside of UK are required to pay at least 6 months rent in advance as guarantors from outside of the UK are not accepted.
At Pomp Properties, tenants are required to pay a security deposit before moving into the property. This is normally 5 weeks. For example, if the property is £525 per week (£2,275.00 per month) you will be required to pay £525.00 x 5 = £2,625.00
It is now a legal requirement for Landlord to register a tenant’s deposit. At Pomp Properties, we use Deposit Protection Service (DPS).
An inventory check-in is conducted before you move into the property and this on done on the day of the tenancy. Inventory clerks will normally check things like meter readings and the general state of the property before you move in. This is important for your returning of your security deposit at the end of the tenancy.
All items that are within the property before the tenancy should be maintained at the Landlords cost. Although, if a contractor is asked to visit the property due to damage caused by the tenant, this would be your responsibility to bear the cost.
If Pomp Properties are managing the property, you will have contact of our PropertyManagement team and will need to report any damages/problems that you incur within the property. If the Landlord is managing the property, their details will be passed to you at the beginning of the tenancy so you can get in touch with them.
Unless stated otherwise, tenants will need to be responsible for paying bills. These include things like electric, heating and water rates.Students are exempt from council tax however you will need to let your respective council know this before moving into the property. Our PropertyManagement team are able to assist you with switching over your bills into your name.
An inventory check-out will be conducted at the end of your contract. The property should be similar to how it was before you moved in. The check-in report would be a good tool to use to follow to mirror this.
Whether you’re studying at Imperial College, Kings College, Brunel University or Royal College of Arts you are in safe hands with us at Pomp Properties and our friendly Lettings team will be happy to assist with any query you may have.
Give us a call on +44 (0) 20 7373 4000 to secure your new property!