FAQs

What is the difference between the Holding Deposit and the Tenancy Deposit?

The Holding Deposit reserves the property. The Tenancy Deposit is part of the Tenancy Agreement.

The £95 Reservation Payment confirms your interest in your preferred Posh Pads property. On or after 1st January we will be able to offer you the Tenancy Agreement to sign. If you wish to proceed, the £95 Holding Deposit will be applied to your Tenancy Deposit, as required by law. Your Holding Deposit will be held in a client-protected account; it can only be protected in a government scheme when it becomes part of the whole Tenancy Deposit.

Once we have paid the Holding Deposit, what else do we have to do?

There is some admin to do; and then just revel in the idea of becoming a Posh Pads tenant!

As soon as you have paid your £95 Holding Deposit, there is some preparatory admin to attend to. This information will enable us to ensure that you are in the best position possible to proceed with your tenancy come the 1st January. We will email you blank copies of your Tenancy Agreement and Guarantor agreement for your interest at this stage.

Is the Holding Deposit refundable?

Yes... and no!

The Holding Deposit may not be refunded if the tenancy is unable to proceed due to an issue on your side. If we find we are unable to proceed with the tenancy for a reason unconnected with you, then the Holding Deposit will be refunded in full.

How much is the Tenancy Deposit and when is it payable?

The Posh Pads Deposit is £195 per tenant - the lowest of any letting agent!

In order to confirm your interest in your Posh Pad, we request that you pay a £95 Holding Deposit payment after your property viewing. From 1st January, the moment that you sign the Tenancy Agreement the whole £195 Tenancy Deposit becomes due. The £95 Reservation Payment you paid following your viewing automatically becomes part of your Tenancy Deposit, leaving just £100 per person to pay to complete the payment of the Tenancy Deposit.

Will the whole Deposit be protected?

Yes. All deposits are registered with MyDeposits.

Once you have paid your £95 Reservation Payment, there will be a further £100 per person to pay to complete your Tenancy Deposit. Once we are in receipt of the full £195 Tenancy Deposit per person, we will be able to register your full property Deposit within 30 days of you making the payment. We register all our deposits with MyDeposits (www.mydeposits.co.uk), a government-authorised deposit protection scheme.

How do we sign the Contract?

Electronically! No need to come to the office!

From 1st January, and providing we are in possession of your Reservation Form and Holding Deposit, we will email the Tenancy Agreement to each tenant to sign electronically. Once the Tenancy Agreement is fully signed, and you have paid your Deposit payment balance of £100 each, the contract will come into force.

How long do we have to sign the contract?

Carpe Diem! After a long wait it will be comforting to secure your house on or immediately after 1st January!

Once you have paid your Holding Deposit, there is plenty of time to address any further queries you may have. Come the 1st January, the contract will be emailed to you and your group to sign immediately so that your property is fully secured. If you have not signed the Tenancy Agreement by 15th January, the property will be remarketed and your Holding Deposit forfeited.

Once the contract is signed, what else is required?

Three more essentials, then it is done!

Come 1st week in January, once the Tenancy Agreement is signed and the payment of the Tenancy Deposit has been completed, it is important to ensure that all the remaining requirements are met as soon as possible. We stipulate a period of 5 working days to ensure that the following are completed, signed and submitted to us online:

• Your online Right-to-Rent Check

• Your signed Guarantor Form

• Your completed Direct Debit Mandate

How do we pay the rent?

Rent is paid by monthly Direct Debit, making it simple for everyone.

Your first rental instalment is due on 16th June, ready for your tenancy starting on 1st July.

After that, rent is collected by monthly Direct Debit on the 1st of each month, starting on 1st August.

Assuming you wish to remain in your property until 27th June, your final rental payment will be made on 1st June.

What do we do if we need to change a tenant?

Not a problem!

If at any point circumstances change and there is a requirement for a change of tenants, that won't be a problem. Our office will explain the straightforward procedure which ensures that a change of tenant can easily be arranged and does not mean losing your house!

What is a joint tenancy?

Most student houses are let on a joint tenancy.

This means that everyone in your group signs the same Tenancy Agreement and you rent the property together.

The tenants are usually "jointly and severally liable" for the rent and other obligations under the agreement.

In simple terms, you are renting the house as a group rather than renting individual bedrooms. If one member of the group does not pay their share of the rent, the other tenants can potentially be required to cover the amount that remains unpaid.

Will I need a Guarantor?

Yes, you will need a UK based Rental Guarantor as part of the tenancy process.

A guarantor is usually a UK-based adult with a stable income who agrees to be responsible for your rent and certain other tenancy obligations if you do not meet them.

Your guarantor will receive a separate Guarantor Agreement to complete electronically.

Don’t worry, we will explain exactly what you and your guarantor need to do.

What if I don’t have a UK based Guarantor?

You still have options to secure your rental property in the UK.

• Use a professional guarantor service: services like Housing Hand can act as your UK-based guarantor

• Pay rent upfront: Some landlords may accept payment of rent in advance. However, this can be a financial commitment.

• University guarantor scheme: your university can act as your guarantor, provided you meet certain criteria.

I'm a British or Irish citizen – what do I need?

If you’re a British or Irish citizen, you’ll need to provide acceptable identification to demonstrate your Right to Rent in England.

This can include:

• A British passport – current or expired

• An Irish passport or passport card – current or expired

• A certificate of registration or naturalisation as a British citizen

I'm not a British or Irish citizen – what do I need?

That’s absolutely fine.

Depending on your immigration status, you can usually demonstrate your Right to Rent one of two ways:

• Use a Right to Rent share code.

• Provide the appropriate original immigration documents.

Our team will let you know exactly what we need from you

Is our house insured?

Yes.

POSH PADS properties are insured for the building and for the furniture, fixtures and all amenities supplied by POSH PADS.

Are our personal belongings insured?

Not initially. POSH PADS offers class-leading INCLUDED Possessions Insurance, Accidental Damage Insurance and 24/7 GP access as part of the INCLUDED Utilities Package. Your laptop, phone, bike, clothes and other personal possessions are will all therefore be covered for a minimal outlay!

How do we request help with a maintenance issue?

Simply report it!

POSH PADS operates a dedicated Maintenance Request App, so you can report a maintenance problem 24/7.

Describe the nature and location of the issue, upload some photos and our team will get things moving immediately.

How long does it take for maintenance to be carried out?

Not long!

Having our own in-house POSH PADS Maintenance Team means a speedy response to maintenance requests.

Simple jobs are often same-day response. Other requests will be attended to within two to three days, depending on the nature of the issue and possible requirement for specialist contractors or replacement parts. Urgent issues are always prioritised.

Do we pay for maintenance?

Generally no!

Standard property maintenance is arranged and paid for by POSH PADS.

If something has been damaged through misuse, you may be responsible for the cost in accordance with your Tenancy Agreement.

What if there's an Emergency?

We've got you covered.

The POSH PADS Emergency Number operates 24/7 for property emergencies.

All POSH PADS contact information will be supplied when you move in.

Do we have to do the gardening?

No, we have our own gardeners, so you won't be spending your weekends trimming hedges!

Routine gardening is provided on a complimentary basis, and additional gardening visits can be requested when necessary.

We just ask everyone to do their bit by keeping the garden and outside areas tidy and free from rubbish between visits.

Is off-road parking available?

Sometimes.

A number of POSH PADS properties have off-road parking. Otherwise applications to the Council can be made for parking permits.