Parents and/or Guarantor Information

For your peace of mind…

Fresh Estate and Letting Agents has an established student letting department and process over 1000 students every year. We are careful with the quality of stock we take on and each year turn down many properties that we feel are not to our standard. We have a reputation for having the better-quality student stock and only add new properties that are of this standard.

 

FAQ’s from Parents and Guarantors

 

Why do we need a guarantor agreement?

If one of the tenant’s fails to pay or causes damage to the property we want to have the backup that any rental arrears or costs for any damage will be met by the guarantor. For tenancies that are joint and several this will reduce the chance of any costs being passed back to the group giving protection to all the other students and their guarantors.

 

Why have I not been asked for this degree of information and backup before with my son or daughters previous accommodation?

We are professional and thorough with our procedures and it is likely that any previous agent or landlord were simply not as thorough as we are. However, it is for everyone’s protection that we have the guarantor agreement in place for the reasons explained above.

 

What we require to support the guarantor agreement and why?

We require a copy of either a photo card driving licence or passport and a recent utility bill (dated within the last 3 months). We need this information to confirm you are who you say you are and live at the address provided.

 

What is the Administration Fee for?

We charge applicant(s) a Non-Refundable administration fee, which is due in addition to any bond or rent requirement. We charge a fee of £75 (£62.50 plus VAT) per individual when securing a room or group house rental. For applicant(s) securing 1 or 2 bedroom self-contained property different rates apply and are detailed on our website under the Lettings tab.

When the agency fee is paid the property is removed from our marketing. If the applicant(s) fail in their application or withdraw from the application the fees are not refundable and will cover the costs of the failed application and to contribute to our re marketing efforts.

 

Tenant Liability Insurance Explained

Due to demand from our landlord clients to have greater protection against accidental damage to their fixtures and fittings, ALL of our student contracts now have the requirement for the Tenant(s) to have suitable ‘Tenant Liability’ Insurance in place. There are a number of common accidental occurrences during a student tenancy including burnt kitchen worktops through hot pans, heating tongs burning carpets/furniture or iron burns on carpets and beds. Now although these charges can be made through the bond it is often a delayed process and the level of costs must be agreed long after the event.

 

We have access to a market leading policy through our preferred partner Let Alliance, which we refer to as a ‘Tenant Bond Protector’. The basic policy that is required will cost an average of just £1.76 per student, per month. There is Nil Excess with the policy, works can be completed by the Fresh maintenance team and successful claims are paid out promptly.

 

This insurance can be arranged through any reputable insurance company and not just our preferred partner Let Alliance. However, the policy must have a minimum level of £2500.00 to protect the Landlords fixtures and fittings against accidental damage caused by the Tenant(s) and/or their visitors. The policy must also cover all occupiers and not just a single person.

 

You can also upgrade this policy to cover bicycles, mobile phones and laptops, but this is your personal choice. The ‘Tenant Liability’ insurance will need to be put into place 1 month before the tenancy start date and Let Alliance will contact the Tenant(s) at that time.

 

 

Will Fresh be managing my son or daughter’s property?

We are instructed on either a ‘Managed’ or ‘Finders Fee’ basis, so it will depend on the landlord’s initial instruction. The prospective tenants should ask the question at the outset and we as agents will point this detail out during the paperwork process. In reality, it should not be a concern either way. For ‘Managed’ instructions the tenants will of course know that they will be dealing with the Fresh team and will benefit from our professional office set up. However, we only do business with ‘Finders Fee’ landlords that we know have a good reputation. If they did not we would get to hear about it.

 

What the parent or guarantor role is not?

We respectively point out that parents and guarantors are not the legal tenants of the property and should not communicate with the landlord or agent concerning tenancy related matters. We will, on occasions, discuss some matters with parents. However, this will be at the Landlords or Agents discretion.

 

Data Protection

All information will be handled and stored in line with the Data Protection Act 1998. All information will be stored and handled electronically and any paper documents are destroyed in house in line with the data protection act 1998. All documentation will be erased within a reasonable timescale of the tenancy ending and all payments settled. Information you provide can be sent to third parties for the purpose of debt collection and credit assessment if the agreement terms are not met. All information you provide is managed and handled with the strictest of confidence.

Thank you for everything. The service, professionalism and effort has been above what would be expected. Thank you. Richard & Laura
Mr Richard Price-Deer
(Cae Castell, Loughor, Swansea)