Abby Properties

Tenants

At Abby Properties, we let and manage a variety of properties throughout the South and East of London, mainly Canary Wharf, we also have a portfolio of management properties in Central London. As members of ARLA Propertymark, SafeAgent, The London Rental Standard and Property Ombudsman all security deposits are held in a designated Tenancy Deposit Scheme.

By being a member of ARLA Propertymark it is a requirement for members to have Client Money Protection (CMP). CMP is a compensation scheme which recompenses landlords and tenants should an agent misappropriate their rent, deposit or other client funds.

Our site contains a constantly updated register of rental property. CLICK HERE to see our latest list. In order to receive a regularly updated list of our available rental properties, please register and we will contact you with details of new properties to suit your specified requirements.

For more detailed information or appointments to view please contact us on 020 7345 5269.

Please keep in mind that a range of rigorous checks on all prospective tenants will be carried out and we will require at least one full month’s rent as a deposit and one month’s rent paid in advance. Should you be uncertain as to your suitability or have specific requirements, please contact us.

Tenants Guide

The Tenancy being offered is for 12 months (subject to contract) and is known as an Assured Shorthold Tenancy if the rent is £100,000.00 per annum or less. For rents amounting to over £100,000.00 per annum. A Common Law Agreement (non AST) will be used. For Company lets we will use a Company Let Agreement (non AST). 

Holding Deposit 

You will be expected to pay a holding deposit of £500. If the rent exceeds £500 per week then you will be expected to pay one weeks rent as a holding deposit. Once the tenancy is agreed and going ahead then the money will be put towards your initial payment. 

  • The holding deposit shows that you are willing to move into the property on an agreed date. 
  • Enable us to prepare the property to be ready for your move in. 
  • Enable us to proceed with referencing and background check of all adult occupants
  • Enable us to cease further viewings for that property. 

Referencing

We obtain references for all prospective tenants from an independent referencing company the charge for which is payable by the tenants. The cost of the references varies according to your circumstances and the number of tenants that require referencing. We may request up to 6 months bank statements but this is not always the case. If a guarantor is required then the guarantor must be a UK homeowner.

Should you decide to pull out, not move in on the agreed date or should any references fail, you will forfeit your holding deposit to cover costs which include. 

  • Re-advertising the property to let.
  • Costs in lieu of the rent for keeping the property empty and not offering it to other applicants.
  • Preparation of the Tenancy Agreement and other pre-tenancy documents. 
  • Any references obtained for which you have not separately paid. 
  • Any cancellation fees charged by inventory clerks.

However, if the Landlord decides not to proceed, your holding deposit will be returned to you. 

Failure to supply information requested by Abby Properties to allow the tenancy to proceed will result in the loss of your holding deposit. This will include photo identification (Passport or Drivers License Only), Proof of Residence, Visa and any other information requested by us, FCC Paragon or Agents Mutual. For companies we require a Proof of ID of the Director or Authorised Signatory, as well as proof of directorship or proof of authority to sign. All foreign nationals are required to provide Proof of Residency such as residents permit or visa. ID should be brought in person to our offices to be verified by a member of staff. We will also require proof of address such as bank statement, council tax bill etc. 

Utilities

All monthly rents are exclusive of utility charges and telephone bills. You are required to transfer the utility supplies for gas, electric water and telephone in to your name as well as the council tax at the start of the tenancy. Not all properties have gas, and most include water rates. In order to make the process easier, all our managed properties are registered with Tenant Shop who take care of the administrative side of all your utility needs. 

Please note that in certain developments heating and hot water bills cannot be transferred into the tenant name. However, you will still be responsible for payment of all usage inclusive of any standing charges for the term of the Tenancy, should bills show in either the landlord or tenants names.

Rent

Rent is payable in advance and MUST be paid by one Standing Order. You must set up a Standing Order for rent payments to the account details provided in the Tenancy Agreement. Failure to set up a Standing Order could lead to late payment charges.

Deposits

All deposits held by Abby Properties on behalf of the Landlord will be lodged with the Deposit Protection Scheme. If the deposit is paid to the Landlord then it is the Landlords responsibility to register your deposit with a Tenancy Deposit Protection Scheme and to provide you with a certificate within 14 days after you paid the deposit.

Check In/Check Out

Upon moving into the property a representative of Abby Properties may attend to hand over keys and necessary documentation to you, this depends on availability. What is most likely is you will be met at the property by our appointed inventory and check in clerk who will go through the property briefly with you and make a record of meter readings. A detailed inventory report will be sent out as soon as possible. It is your responsibility to inform us if you do not receive it within 7 days of moving in. You are expected to check and sign this and return us within 7 days of receipt. If you do not inform us in writing of any discrepancy noted for our approval, it will be deemed that you accept the contents of the Inventory. It is the Landlords responsibility to pay for the Inventory. When the tenancy ends a check out report will be prepared and the charged to the Tenant. The check out clerk will require payment upfront before passing a copy of the report to you. 

The check out cost is £140 inc VAT. Subject to the condition of the property this may increase. Please note  that should you arrange an appointment with the Check Out company for no later than 12:00pm on your move out day and should you no attend there will be a cancellation fee. 

If the property is managed by the Landlord then it will be their responsibility to provide you with an inventory schedule upon moving in and with a check out report when you move out.

Council Tax

Council Tax is not included in the rent. It is the sole responsibility of the Tenant to pay this for the duration of the tenancy. Lists of up date charges for the various Council bands are available on request. If you are the sole occupier or a student you may be entitled to a discount. 

Television License

You are responsible for paying the TV license, regardless of whether the television was provided by the Landlord. (Currently £145.50 per annum). For more info visit the TV Licensing website. 

Taken As Seen

It is important to know that unless specific requests are made and agreed between the Landlord and Tenant prior to the agreement of terms, a property is let “as seen”. This applies to decoration and these items that are noted on the inventory, therefore if you have special requirements these must be agreed at the time an offer is put forward to the Landlord.

Tenancy Agreement

An appropriate Tenancy Agreement will be prepared for your signature prior to the start of the tenancy. It is our policy to execute the Tenancy Agreements and any Renewal Memorandum Agreements by dating the document as soon as it is signed by the parties. This may be prior to the actual tenancy start date. Once executed by us, both parties are legally bound to the Tenancy. When you sign this Tenancy Guide you are confirming your authority for us to execute and bind the Tenancy Agreement and any Renewal Agreement in this manner without further reference to you. 

Administration Charges

Includes the cost of preparing a Tenancy Agreement, obtaining references and registering the Deposit.

First Tenant £400 inc VAT

Additional Tenant £50   inc VAT

Additional Guarantor £65   inc VAT

The below charges will apply should there be a change in tenants mid tenancy or at renewal stage.

One Tenant Change £150 inc VAT

Additional Tenant £50   inc VAT

Additional Guarantor £65   inc VAT

Tenancy Renewals

Should both parties reach an agreement then the Tenancy may be renewed for a further term. A charge of £150 inc VAT is payable for renewal of the tenancy, preparing an extension agreement and to re register the deposit.

Payments to Abby Properties

 Bank transfer - payments made by normal bank transfer will take approximately 3 working days 

International transfers – payments made by international transfer may take up to 7 working days 

Chaps transfers – these are same day transfers, however we require cleared funds 48 hours prior to move in. 

The transfer MUST be completed on a working day and transferred before 12.00pm. After 12.00pm it can show anytime up until the following morning / working day and potentially delay your move in. 

Acct. Name: Abby Properties Ltd Clients A/C 

Acct. No.: 63667073 

Sort Code: 40-02-44 

Bank Address: HSBC Bank Plc 

Canada Place

Canary Wharf 

London 

E14 5AH 

The Following may be necessary for International Transfers: 

IBAN: GB46MIDL40024463667073

SWIFT: MIDLGB2140F

Please make sure that all payments are clearly referenced with your surname and the property address.

Need a FREE property valuation?

Click here