Renting With Vanquish Letting Services
When you choose to rent a property through Vanquish Letting Services, our letting agents will will carry out a number of referencing checks to ensure your property is leased to the best possible tenants. Referencing is designed to ensure the tenant can afford the monthly rent of the property and it also helps to protect the landlord from potential bad tenants. We have been letting properties throughout Derby and the surrounding areas for a number of years and have developed a well-known reputation for the service that we provide to both our landlords and tenants.
Our referencing process
The referencing process will start when we have received a reservation deposit (Rent Share scheme) or the reservation deposit and referencing fee(s). We will need to see proof of identification, your passport and driving licence card is perfect. Tenant referencing is undertaken by Let Alliance, they will undertake the background checks and contact your employer for confirmation of employment and earnings. If currently renting Let Alliance will also contact your current landlord or letting agent for a reference.
Before you pay any fees, please take note of the checks that are made and what can have a detrimental effect on your reference, also note that a reference check for a rental property does not effect your credit score and doesn't show up on your credit history. The reference is also yours so you are entitled to see the final reference should you feel the need to do so.
- Affordability: You need to earn at least 2.5 times of your share of the rent. For couples who are both in receipt of an income, you can divide the monthly rent up to suit. Should a guarantor be required, a guarantors income needs to be at least 3 times the monthly rent.
- Bad credit: A check will be made to see if you have any CCJ's (County Court Judgements) against you or if you have been bankrupt. These records stay on your credit history for 6 years.
- Landlord or Letting Agent reference: If currently renting a reference will be sought from your current landlord or if in managed accommodation, the managing agent.
- The above are the three main factors affecting the outcome of a reference in the majority of cases.
- Please also note that if we are in any doubt as to your right to rent in this Country the global reference fee will be charged for the additional checks that are legally required to establish your right to rent a property in England.
An unsuccessful reference may not mean that you are unable to rent the property, each case would be addressed on it's own merits and we would discuss your case with the landlord. There may be other options available to you, for example paying the rent for the initial term upfront.
Please note our fees may vary from one property to another, you can check the fees payable on the property listing on either Zoopla or Primelocation, or call us on 0800 0232550 to discuss.
Reservation Deposit - £150 (refundable)
This is to reserve the property and in most cases is fully refundable and deducted from the first months rent. In cases where the property has been reserved for more than two weeks and you withdraw of your own accord then we may look to withhold all or part of the reservation fee in respect of lost revenue for the landlord.
tenant & guarantor referencing
Referencing £50 (first applicant / non refundable)
Referencing £50 (subsequent applicants / guarantor / non refundable)
Global reference £100 (to prove right to rent) Home Office user guide on Right to Rent
Administration £150 (to set up the tenancy agreement, register the tenancy deposit and to provide a check-in service)
Inventory & Schedule of condition, from £75
Prefer to spread the cost?
Then ask about our Rent-Share scheme. Spread the cost by paying a little more on a monthly basis, for one person this equates to £25 on top of your monthly rental, for two tenants the cost would be an additional £35 per month on top of the monthly rent. Please note a minimum term of 12 months is required and Rent-Share may not be available on all of our rental properties.
Unlike some High Street Estate Agents we do not charge for:
Renewing the tenancy agreement every 6 months where the tenancy remains unchanged.
Weekend check-in service.
Fast track check-in service.
VAT- Vanquish Letting Services Ltd. is currently not registered for value added tax.
Wherever possible we like to set up our rental properties and prospective tenants with Tenant Shop.
Tenant Shop provide a free and simple comparison site, you can decide which services you are interested in, they can look at the best deals for you, for energy, TV, broadband and insurance. You are not obliged to take them up on any of the deals they may put forward to you. What's more is that you don't need to be a Vanquish tenant to use their services, any tenant can contact them. If you would like to learn more or get started, here's a link to their website: Tenant Shop.