Cambridge Property Lettings

Signing up as a group with CPL

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Applying for a tenancy through Cambridge Property Lettings

  1. Arrange a viewing of the property
    Please try to ensure all of you who intend to share the property attend the viewing and when you are there have a good look round and ask questions. We are rarely able to arrange additional viewings, so make the most of the opportunity.
  2. Decide if you want to go ahead with renting the property
    Obviously making a group decision about anything isn’t easy, but try to make sure you are all committed. Last minute drop-outs cause a lot of problems (for you and us!), and if you all change your mind it could be very expensive. But don’t hang around – good properties are snapped up fast.
  3. Complete the Application Form and pay Referencing Fees
    All potential tenants and any guarantors need to fill out an application from, which can be done online via our website. You will also need to pay a referencing fee of £125 per applicant, plus £30 if a guarantor is required. (If your salary isn’t three times your portion of the annual rent, you will need a guarantor whose salary meets this requirement and who is resident in the UK). Fees can be paid by cheque or online transfer. Please note these fees are non-refundable. 

    Once all the application forms and fees have been received, the property will be removed from the market. The referencing usually takes 4 – 7 days and you can monitor its progress with the referencing tracker available on LetMC. Provided you have been truthful, your income is adequate and you don’t have any court judgements against you, you are unlikely to fail the checks. If you have any doubts or queries, please ask us for advice before you go ahead with referencing.
  4. Sign the Tenancy Agreement and (if necessary) pay a Holding Fee
    Once you have been successfully referenced, you will all need to sign a copy of the lease and provide us with a colour copy of photo ID (passport or driving licence) for our records.

    If your tenancy start date is more than four weeks from the date of signing, we will require a £400 holding fee per applicant. This will be set off against your start-up monies, but is non-returnable if you withdraw before commencing the tenancy. The signed tenancy agreements and holding fee (if appropriate) must be received within 14 days of the request or the property will be re-marketed.

  5. Pay Start-Up Monies 
    Start-up monies comprise:
    • Deposit of one and a half month’s rent
    • Pro rata rent due for the month of move-in

    CPL will advise you of the amount due and account details to which it is to be paid. You will not be able to move in until the necessary funds have cleared in our bank account. If you pay the deposit and rent due in cash there is a cash handling fee of £1 per £100 cash received.

    Your Deposit will be registered with the Tenancy Deposit Scheme and will be kept in CPL’s Client Account. Full details will be supplied to you when you sign the Tenancy Agreement. Further details of the scheme can be found at www.thedisputeservice.co.uk.

  6. Set up a Standing Order with the bank for Rent payments
    You must set up a group bank account for rent payments. Individual payments cause a large amount of extra administration and so incur a £40.00 charge for every such payment received. 
    All rent payments will be due on the first of each month, therefore you should arrange for payment by standing order to arrive in our account no later than this date to avoid late payment charges (refer to Tenancy Agreement and Tenant section of our website).

    You must set up a group account from which all these payments must be made. Failure to do this will result in a £40 charge each month.

    Rents received by CPL after first of the month will incur a late payment charge of £20.

  7. Consider taking out Property Insurance
    The landlord will insure the building and his contents. However, we strongly advise that you take out insurance for your own possessions, plus cover for any damage that may occur to the landlord’s.

    We can recommend Let Insurance Services. Click the link below to get an online quote:

    LetInsurance

  8. Move in
    Collect the keys from our office, move in and start enjoying your new home!
Cambridge Property Lettings