Tenants Check List and Pre-Move Conditions

If you wish to rent a property, we need some information before you place a holding deposit down. We may have other applicants viewing the property, or have already shown other applicants, so if you want to be sure to secure your new home please move fast!

Please bring photo ID (passport or driving license) to the viewing to show the negotiator to comply with Right to Rent requirements.

After the viewing, if you like the property, be the first person to either bring to the office or send to referencing@pace-properties.com the following documents:

  • Copy of photo ID for all applicants and guarantors, ideally passport but driving license acceptable. If you hold an international passport you must supply a valid visa to reside within the UK for the full length of the tenancy.
  • Provide proof of address for all applicants: either a driving license or utility bill dated within 2 months.
  • Provide a clean credit report from Experian.co.uk or similar dated the day you paid your holding deposit.
    https://www.experian.co.uk/.  By clean we mean at least a rating of Good and no CCJs.  It may be possible to accept applicants with a rating of Fair, and/or with CCJs if these are disclosed in advance. Usually a Guarantor will be required please discuss this with us before you pay your holding deposit.
  • Provide a clean credit report from Experian.co.uk or similar dated the day you paid your holding deposit.
  • Provide three months’ bank statements in full (account showing wages/income/general expenditure).
  • Prove your financial status, showing 30x the annual rental value,
    • Employed – provide your 3 most recent pay slips and a copy of your contract of employment.
    • Self Employed – provide the last 3 years’ accounts and tax returns.
    • Retirees – provide proof of pension and savings.

If you cannot get any of the above immediately send what you have and we will discuss options with you.

Securing the property:

Until we have all the items the property will remain on the market, unless otherwise agreed.  Once we have seen your documents we will ask you to pay a holding deposit of 7 days rent and send full terms and conditions for when this may be chargeable.  Once the money is paid, the property will be removed from the market and the landlord will be sent your information.  They usually respond very quickly and we expect to let you know in a couple of days if your application has been accepted.  Then we will confirm a move in date.  If no agreement can be reached within 15 days your money will be refunded anyway.

Overall costs:

The tenancy deposit is 5 weeks rent.  1 week before the arranged move in date we will ask you to pay the tenancy deposit and the rest of the rent in advance.  There are no fees, unless you pull out of the deal or something comes to light later that invalidates the references you have provided.

When will a Guarantor be necessary?

The most common reasons for an applicant to require a Guarantor are:
  • When the income to rent ratio is less than the recommended level (the applicant will be declined outright if the ratio is < 1.5)
  • If the total income of all applicants is less than 30 times the rent.
  • When the Experian rating is "Fair" or below
  • Unemployed, students
  • Self-employed for less than 3 years or unable to provide accountant details or an SA302
  • No proof of residency at the current address
  • When the contract of employment for an applicant does not extend beyond the terms of the tenancy
To be an acceptable Guarantor an individual must:
  • Someone residing in the UK - Be a U.K or EEA national or a Foreign National with an indefinite right to remain (proof of residency, ID at Visas where appropriate will be required).
  • Have an Experian credit rating of "Good" or above  - with no bankruptcy, IVAs, County Court Judgments or Court Decrees (Scotland)
Guarantors will generally need to meet the following requirements and be able to evidence it.  Other options may be negotiable but please ask in advance: 
  • Employed guarantors need to earn monthly rent x 36
  • No job, relying on savings:  show savings of Rental Amount x Length of Tenancy x 3.  Proven with bank statements showing this amount has been in their bank account for at least 6 months.
  • Retirees: a minimum annual pension of Rental Amount x 36 evidenced with a pension statement. 
  • Other options may be negotiable.
If you are not clear on what you need to provide, please discuss it with the property consultant or call the office and speak with the lettings department on 01702 445 600.

For the full tenant Terms and Conditions, we would urge you to download a copy of our Tenant Checklist and Terms & Conditions.

 

Pace Company Details

Our full company name is Pace Property Lettings & Management Ltd, and the registration number is 10354728. Our registered office is Meridian Point, 461-463 Southchurch Road, Southend on Sea, Essex, SS1 2PH.

The directors are Crystal Horwood and Bernard Horwood and they can be contacted at the registered office address. The phone number is 01702 445 600 and email is info@pace-properties.com.

 

"I am a landlady with many properties and have dealt with Pace for about 10 years. Marcus is very friendly, honest, efficient and helpful and has made my letting experience extremely easy always finding me suitable tenants. I have nothing but praise for Marcus who has been with Pace many years.

Mary R

After renovating a block of 21 flats to place into our rental portfolio we instructed PACE and gave them two weeks to let all the units on a sole agency basis. They marketed the flats for a week and conducted a strict open house event on the following Sunday for 4 hours. Within this slot 15 flats were let with the remainder let the following week.

The Director of Runwood Homes

As a landlord with multiple HMO properties, I have employed the services of PACE for a number of years now as they ensure I have my required specification of tenant placed in all my rooms. I only let rooms to employed applicants and very much favour their opening hours as this attracts and accommodates the right people.

Johnathon Simons HMO Landlord

Sara is my dedicated property manager and has been for some time. I have always found Sara to be a very professional member of staff. Sara always keeps me informed and provides regular visit reports, which is important for any landlord. Sara deals with any problem that befalls her, contacting me if she needs to. Sara will discuss any problem and invariably come to a solution.

Raymond Durrant – multi property landlord

The staff are always friendly and helpful, my special thanks to Sara, we have built a very special rapport and I feel very comfortable phoning if I need anything. I feel very happy that I have one person to deal with all of my issues.

Evelin Jenkins - Tenant

We cannot stress how much we appreciate having a dedicated property manager for our properties. We live 350 miles away and also spend a great deal of the winter out of the country. To be able to phone our manager who understands our properties and how we operate is for us complete peace of mind.

Peter and Maureen Mason – Multi property landlords

I was extremely thankful I chose PACE to conduct the sale of my property and extremely grateful to Sue Mellor who worked very hard to ensure a smooth transaction. She was most knowledgeable and professional throughout, always reachable and approachable. She was able to answer all the questions I posed.

Yvonne White

I've recently purchased a property with the help of Pace. I found the staff extremely helpful and friendly. My first contact was Katie, she showed me around the property and liaised with the vendor. After, I dealt mostly with Sue Mellor. She was very knowledgeable and helpful. She kept me informed throughout the process and was the first to congratulate me on completion.

Roni Miller

I just thought I'd drop you a line about Adele Moore who is managing my flat. Adele is doing a great job and is a credit to Pace. She has done, and continues to do, exactly what she says she will do and as a customer that is exactly what I want. Adele doesn't take things at face value and investigates things when she needs to, again a thing that clients will prize.

Tony Mihill - Landlord

Thank you to the team at PACE for firstly providing excellent property management services over many years and secondly for helping me to sell my property recently.

All your hard work has been very much appreciated. Special mentions to Sara, Amy, Sue and Billy for their friendly and professional service!

Charlotte, (Property Management & Seller)