Offers and deposits
Receiving and accepting an offer
Once you have received and accepted an offer from a prospective tenant, your Winkworth agent will take a holding deposit of one week's rent; this shows that the tenant is serious. If you decide to reject the offer, or the rental falls through and this isn't the prospective tenant's fault, they'll get their deposit back in full. However, if the prospective tenant pulls out of the deal once the offer has been agreed, they may lose part, or all of the deposit, to cover any costs we have incurred whilst processing their references. If the deal goes through, the amount of the holding deposit will be deducted from the total the tenant is liable to pay before moving into your property.
Dotting the i's and crossing the t's
We'll do all the necessary checks on the tenant and gather all their references. Provided this information is all in order, we'll invite you and the tenant to check through the agreement and sign and date it.
At this stage, the tenant's security deposit will need to be put into a tenancy deposit scheme. The deposit will be held throughout the tenancy and returned at the end, less any agreed deductions. The deposit is usually four-six weeks' rent.
The tenant will also have to pay one month's rent in advance. We must have the advance rent and the security deposit in cleared funds before the tenant moves in.
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