Do you charge Fees?
At Ridgewater we like to be completely transparent with regard to our tenant fees. If you see a property you like and would like to make an offer to rent it, then the following fees will become payable before we can proceed with your application:
Tenancy Application Fees:
Single Applicant (one Tenant) - £180 (inclusive of VAT)
For each additional tenant, there will only be an additional referencing fee of £60 (inclusive of VAT).
So, if there are two tenants, then the total application fee payable would be £240 (inclusive of VAT).
Three tenants would be £300 (inclusive of VAT) and so on.
Please note that any guarantors would also be subject to the £60 (inclusive of VAT) charge.
Do I need to pay bills?
The rents quoted for each property are exclusive off all bills and utilities unless stated. You would be required to arrange payment for all utilities (Water, Gas, Electricity, TV License etc) during your tenancy.
How will my rental payments be collected?
Rents are collected on a monthly basis. We will provide you with a standing order mandate during the move in process which you will be required to set up with your bank.
What is the minimum length of tenancy?
All our tenancies have a minimum period of 6 months for the initial fixed term. If you require a longer tenancy, then this can be discussed with your Landlord.
How do I reserve a property?
If you like a property and want to reserve it, you can place an initial administration fee against the property. This fee covers your contribution towards the referencing, Inventory, and Contracts. We also require 50% of the deposit as a holding deposit.
What References will be undertaken?
In most cases an employer reference will be required, a landlord reference (if applicable) and a credit check will also be carried out. We also require 2 forms of ID (1 photographic such as a passport or driving licence and one with current address such as a utility bill or bank statement)
What happens if I fail my reference checks?
If you fail your references due to a poor credit score or insufficient income, you would need a guarantor. If you fail your references because of a poor Landlord/Letting Agent reference, the Landlord may decline your application. In this instance, £120 of your application fee will be refunded
What happens if the landlord declines the proposed tenancy?
If a landlord declines the tenancy we will try to find a suitable alternative for you. If we can't source an alternative property your administration fee and deposit will be refunded in full.
When is it best to start looking for a rental property?
It is best to start looking for a property 1 month to 6 weeks before you want to move as most of the properties on the market will be available immediately or within 1 month.
What happens to my deposit once it has been paid to the agency/landlord?
Landlords and letting agents have a legal obligation to register tenant deposits with a government backed scheme within 30 days of receipt.
What happens if I encounter a maintenance problem during my tenancy?
If your property is managed by Ridgewater you can contact the office to report any issues. We also offer a 24 hour emergency line. If your property is unmanaged you will have to report your concerns to your landlord.
Who will be my point of contact once I have moved into my property?
If your property is managed you will have to contact the office directly. If your property is unmanaged you will have to contact your landlord directly.
How much notice do I have to give to leave the property that I'm renting?
If you are on a periodic tenancy (month by month) you can give one month's notice at any time on your rent due day. You do not need to serve notice if you wish to vacate the property at the end of a fixed term period tenancy.
What happens when my tenancy expires?
If you are living in one of our managed properties we will write to you before your tenancy ends to determine what you intend to do at the end of the tenancy. If you wish to stay at the property and your landlord agrees to this we will draft a new tenancy agreement unless you decide to go onto a periodic tenancy. If your property is unmanaged you will need to consult your landlord before your tenancy expires.
How do I get my deposit back at the end of the tenancy?
If you are living in one of our managed properties we will conduct a checkout at the end of the tenancy and if make a submission to the DPS to return your deposit within 10 days. If there is damage with no dispute we will return your deposit minus costs within 10 days. If there is a dispute we will return the deposit within 10 days minus the disputed amount which will be dealt with by an independent adjudicator from the DPS. If you are living in an unmanaged property and your deposit is held and registered by the landlord you will need to deal directly with your landlord.
Can I make any changes to the property i.e. paint and decorate?
You can if the landlord agrees to the changes. Any requests will have to be sent to us in writing so we can obtain written authority from the landlord. If you're living in an unmanaged property you will have to contact your landlord directly.
What happens if I have to terminate my tenancy early?
You will be legally liable to pay the rent until the end of the fixed term agreement even if you aren't living at the property. The alternative, if your Landlord is agreeable, is to find a suitable replacement tenant and you will need to pay our fees for finding a new tenant on behalf of the Landlord. You would be required to pay any rent up until the date that the new tenant is due to take possession.
What happens if the landlord wants to gain possession of the property?
A landlord is required by law to provide you with 2 month's written notice by serving a section 21 notice 2 months before the end of the tenancy. This should allow plenty of time for you to source an alternative property.
Do I need Insurance?
We would recommend to all our tenants that they affect their own contents Insurance, as this will often protect the landlords fixtures and fittings. There are also indemnity Insurances available that will protect your deposit in the event of any damage to the property.
Who do I call If I have an emergency maintenance issue?
If you are living in one of our managed properties you can call our 24hr emergency hotline. If you are living in an unmanaged property you will need to contact your landlord directly.
"I have dealt with Ridgewater for the past two years, my properties were let very quickly, one even before the build was completed. As their service is so good, rent is received very quickly into my bank account and staff deal with any maintenance problems efficiently, I have decided to transfer the remainder of my property portfolio to them."