guide to renting
Guide to renting
Only a lucky few are able to live by the river. There aren’t many opportunities to live in such a tranquil and beautiful environment in one of the world’s most dynamic and bustling cities, which is why turning to a waterside specialist like riverhomes is the ideal way to secure a slice of this enviable lifestyle.
Because riverhomes has done nothing but sell and let homes by the Thames for 14 years, the owners of London’s most desirable waterside homes come straight to us when they want to rent their property out. That’s why we have an unbeatable selection of waterside properties to rent - and because we’ve been dealing with renters for years too, we’ve developed a sixth sense for matching you up with the home of your dreams.
Once we’ve helped you to find your ideal river home, we’ve put a process in place to make sure you can move in as soon as you want to - with the bare minimum of fuss.
Paying the reservation fee
Once you’ve found the perfect home, we just need to take a “reservation fee” of one week’s rent to make it yours. This will be deducted from your first month’s rent when you’re ready to move in.
As soon as we’ve received your reservation fee in cleared funds, we’ll cease all marketing activity and cancel any viewings we had previously arranged.
If you later decide not to sign a tenancy agreement for the property, or your references aren’t satisfactory, the reservation fee is not refundable.
The fee is refundable (minus any costs incurred) if for any reason the landlord decides to withdraw.
The next step is paying an administration fee of £330 (including VAT) to cover the collation of references and all the other paperwork involved in letting the property to you.
For everyone over the age of 18 who will be living in the property, we’ll provide an “application to rent” form. We’ll need a copy of each person’s passport as well as a recent utility bill to verify your identity.
We will then collect references for each applicant, which will cover information such as:
- Recent bank statements
- A reference from your employer, if you’re employed
- A letter from your accountant, if you’re self-employed
- A mortgage statement if you’re a homeowner, or a reference from your previous landlord if you’ve been renting
- A credit check, to make sure you don’t have any adverse credit
If you’re renting in the name of a company for one of your employees, we will need:
- A company application form signed by the Managing Director
- A reference from a landlord whom the company has previously rented from
- A reference from the company’s accountant
- A trade reference and bank reference
Taking a deposit
Before you move in, we’ll need to take a deposit equal to six weeks’ rent - and these funds need to have cleared into our account before you can move in. This deposit will be held in line with government legislation by the Deposit Protection Service (DPS).
Once you move out and a check-out has taken place, the deposit will be returned to you without the addition of any interest.
If there is a dispute about any deduction from your deposit, we will help to mediate between you and the landlord. If a dispute can’t be resolved within 28 days of the end of the tenancy, the amount in dispute will be transferred to an Alternative Dispute Resolution Service (ADR) who will act as an impartial mediator. Their decision on the outcome will be binding on both parties.
Once you’re ready to move in, we will arrange for an independent inventory clerk to compile a check-in report at a cost of approximately £150 inc. VAT paid by you, which will vary slightly depending on the size of the property.
The same clerk will compile an inventory of the property. This will be paid for by your landlord, who will also pay for a similar check-out report to be produced at the end of the tenancy.
Paying the rent
You will need to pay the first month’s rent in cleared funds before you move in. The reservation fee which you previously paid will be deducted from the advance rent you need to pay.
If your tenancy start date is later than the 15th of the month, we will also need you to pay for the remainder of the current month in addition to the next month’s rent in advance.
For the following months, your rent will be collected by standing order on the 1st of each month.
For further detail and breakdown of fees please click here.
If you would like to rent with riverhomes, view our stunning selection of available waterside properties.