This section is dedicated to answering ten of your most frequently asked questions. Please simply click on the question to reveal the answer.

Alternatively, if you have a more specific question you would like answering then please feel free to email us and we will get back to you shortly.

Tenant FAQ

FAQ

We charge a £250 minimum admin fee (per property)

This breaks down as:
Full Tenant Referencing – £100
Assured Shorthold Tenancy Agreement – £75
Photographic Inventory – £75

PLEASE NOTE PRICE MAY VARY DEPENDING ON INDIVIDUAL CIRCUMSTANCES

To move in to one of our properties you will require the following:

Financial

• One month’s rent
• Deposit (equivalent to one months rent)
• Administration fee

Documents

• Photographic Identification (e.g. Driving License, Passport)
• Written reference (from previous/current Landlord or employer)
• Proof of income (e.g. Wage slip, employment contract, bank statement)
• Proof of current address (e.g. Utility bill, phone bill)
• Non-EU residents require proof of stay/residency (e.g. Visa, letter from Home Office)

Edward Lloyds operates on the discretion of the landlord, therefore the criteria to be a successful applicant varies from property to property. For some properties, we are able to offer tenancies to recipients of housing benefit; unfortunately, for others, we cannot. We recommend that you browse through our property portfolio, specify a property that you like and ask us whether we are able to accept recipients of housing benefit for that particular property.

In cases where recipients of housing benefit are accepted by a landlord then the additional requirement of a guarantor is necessary. The guarantor should be a homeowner and/or in full-time employment. They are required to sign a document attributing them with joint liability for rental arrears. The guarantor should also produce the same documents as the tenant mentioned in question 1.

We submit the deposit for every managed property to the Deposit Protection Service (DPS) (http://www.depositprotection.com/). The DPS are an independent body that hold tenants’ deposits until it’s necessary for them to be released. The DPS releases a certain amount or all of the deposit based on the mutual consent of both the tenant and the landlord.

If we do not manage the property then we pass the responsibility of the deposit on to the landlord. We ensure that the landlord signs a document stating their intention to submit the deposit in to a secure deposit scheme before we transfer it to them.

It is a legal requirement for a deposit to be protected by a government-backed tenancy deposit scheme (https://www.gov.uk/tenancy-deposit-protection/overview).

Holding deposits are a tenant’s signal of intent. Once a holding deposit has been paid, Edward Lloyds will immediately withdraw the property from the letting market and cancel any further scheduled viewings for that property. Thereafter, 21 days are given to complete all payments, submit the relevant documents and sign the tenancy agreement. Depending on the circumstances,  the initial 21 days can be extended upon, provided that a request is made before any transaction.

The amount paid as a holding deposit is deducted from the overall balance; it is not an additional cost, only an initial payment.

Once a holding deposit is paid, it will only be refunded if the landlord or Edward Lloyds vetoes the tenant moving in. In all other circumstances the holding deposit is non-refundable. This is to prevent the landlord from incurring a loss of earnings from preventing other potential tenants from viewing the property.

The administration fee covers the cost of delivering you with your perfect home without any hassle. Our fee includes:

Full Photographic Inventory
Credit Check
Viewing and Consultation
Tenancy Agreement
Tenancy Changes (Utility and Council Tax updates)

We offer a small discount on our administration fee if you like us on Facebook or follow us on Twitter.

Six-months is the minimum term contract we offer for domestic rentals. Although, we work with developers who cater to tenants requiring accommodation for terms under six months. It is advisable that you send us an email outlining your specific requirements (i.e. dates, preferred location) if you require a property for less than six months.
At Edward Lloyds we utilize time as best as possible. If a property is available, you are able to provide us with all the documents required and  have settled the outstanding balance, then it is possible to move you in to a property as early as 24 hours after your original application. In exceptional circumstances we may be able to move you the same day!

Basically, we work as fast as you do.

Tenants are responsible for insuring their own contents. It’s the landlords’ responsibility to get building cover, however you as the tenant are responsible for your own goods. We recommend investing in contents insurance or checking with your bank to see if they offer contents cover as part of your existing account with them.
We require a written notice of at least one calendar month, in advance of your intended departure date. It is preferred that you notify us of your intention to leave two months in advance. Not least, so that it gives us adequate time to secure a new property for you, as well as a new tenant for the property you are giving notice for.
In England and Scotland, the amount of council tax a person pays is split in to bands, based on property valuations taken on 1st April 1991. You can find out what your council tax is by clicking here