Lexingtons - Residential Sales Lettings & Property Management

Lexingtons will endeavour to help you, every step of the way, in your search for a new home. Please read the following notes and do not hesitate to contact us by e-mail (info@lexingtons.com) or by phone (020 7435 7775) if we can be of further assistance. The following neither form part of a contract, nor constitute an offer. All negotiations are subject to approval of references and exchange of the Tenancy Agreements. A minimum of 7-10 working days are required between the selection of a property and the commencement of a Tenancy.

The Costs Involved when taking up a Tenancy (Please read carefully)

There is NO charge to register with Lexingtons Estate Agents and view properties available for rental.

Once you have seen a property that you like and decide to start a tenancy

You will be asked for an initial holding fee of one week’s rental. When the tenancy goes through, this will then be deducted from your overall six week deposit. The holding fee and acceptance of such a holding fee does not bind the Landlord in any way to proceed. If the Landlord withdraws from negotiations, the whole of the holding fee will be returned to the applicant, less any costs incurred.

The holding fee is non-returnable should you then withdraw from the transaction or if the references are unsatisfactory.

Once your references are confirmed and the Landlord approves, an invoice and Tenancy Agreement will be arranged. The invoice will include:
The first month’s rent in advance.

A deposit of 6 weeks rent is required. This will be held as security against any dilapidations, the balance of which will be refunded to you at the end of the Tenancy. We do not give interest on any deposit held.

We use professional Credit Agencies/Reference Check Companies and Inventory Companies

For administration costs including the Tenancy Agreement, you are required to pay £150 plus VAT. The cost of the reference or credit checks will depend on the type of inspection carried out. In the case of a Company let, the cost of the reference checks will depend on the type of company.
Sometimes a professional credit check or reference check is not required, in this case we will request:-
a) Bank reference
b) Satisfactory proof of employment/Employment reference
c) Previous landlord/other personal reference
d) Signed and valid letter of guarantee
e) A letter from your accountant and your solicitor if it is a Company let

Please note that once a Credit or Reference check has been made and costs have been incurred, the applicant will be liable for any costs irrespective of whether or not the tenancy goes through.

If the Landlord requires an inventory, he/she pays for the compilation of the inventory and you are required to pay an inventory check-out fee. The fee varies depending upon the size of the property and whether it is furnished or unfurnished.

NOTE. All of the above (if relevant) will appear on your initial invoice and must be made by cash or banker’s draft i.e. cleared funds, before occupation. A detailed invoice will be supplied.

7. In a shared tenancy, all signatories are jointly and severally liable for payment of rent and all other matters relating to the tenancy. In such cases tenants are requested to open an account and arrange for ONE standing order to be made, as outlined in the lease, for rental payments. In a sharing situation, if one of the sharers leaves the property, the remaining tenants are responsible for the payment of the rent in full.
NOTE: another person can not take the place of someone who has left, without a new Tenancy Agreement being made and references being taken.

8. No pets or smokers will be permitted without the Landlord’s prior consent and other restrictions may apply.

9. All Tenancy Agreements are subject to satisfactory references being received and approved by the Landlord.

TENANCY DEPOSIT SCHEME

Tenancy deposit law was introduced on 6th April 2007 and provides protection for tenants by preventing landlords and letting agents from unfairly withholding a deposit. The scheme protects all Assured Shorthold Tenancies in England and Wales (Covering most tenancies since 1997).

Tenancy Deposit Protection is designed to ensure:

How does it work?

At the beginning of a new tenancy agreement, pay your deposit to your landlord or agent as usual.
Within 14 days, the landlord or agent is required to give you details about how your deposit is protected including:

If you don’t get this information, ask your landlord or agent the simple question – ‘how is my deposit protected?’

You have a responsibility to return the property in the same condition that it was let to you, allowing for fair wear and tear.

What if your landlord is not protecting your deposit?

You can apply to your local county court. The court can order the landlord or agent to either repay the deposit to you or protect it in a scheme. If your landlord or agent has not protected your deposit, they will be ordered to repay three times the amount of the deposit to you.

At the end of the tenancy, check whether you are leaving the property and its contents in the condition in which it was let to you - allowing for fair wear and tear, and check that you have paid your rent and any other expenses. Then agree with your landlord or agent how much of the deposit should be returned to you.
Within 10 days – you should have received the agreed amount of the deposit.

Lexingtons is centrally located and strategically positioned between Hampstead, Belsize Park and Swiss Cottage all within a short walk. This is an area known as Belsize Village. This location gives Lexingtons a large catchment area that also includes West Hampstead, South Hampstead, St. Johns Wood, Primrose Hill, Chalk Farm, Camden, Regents Park, Golders Green, Kentish Town, Highgate and Gospel Oak.

Established in 1992 Lexingtons has been renting, selling and managing properties in these areas for a varied clientele base who are both from the surrounding area and internationally.

Lexingtons has advised many prospective Buyers and Landlords about buying the right property that meets their needs be it for investment or for owner occupation.

Likewise Lexingtons has acted for numerous Landlords in finding suitable tenants as well as advising them on how to get the maximum return from their property. Lexingtons works in partnership with its clients to reach a mutual goal that is collectively rewarding to both parties.

With a balanced and committed approach Lexingtons has a team of highly trained, enthusiastic and motivated personnel that are committed to caring for your property needs.

With the fluctuations and recent changes in the property market, not only in price, but also statutorily, Lexingtons is prepared to meet the future challenges by keeping abreast of market trends and legislation.

Lexingtons is also geared up to meet the technology drive that has permanently changed the property market place and is constantly evolving. With Lexingtons internet presence as well as on our office touch-screen display where prospective buyers and sellers, landlords and tenants can collectively search for their ideal property as well as register their property and contact details. Lexingtons has managed to have a competitive edge on other property professionals.

Statistically, Lexingtons is the licensed Hometrack agent to cover the geographical immediate and surrounding Postcode Areas of NW3, NW6 and NW8. Working in partnership with Hometrack allows Lexingtons to provide a specific and unique eight page report for all residential sales valuations that show the client the prevailing property trends in the area as well as comparable evidence of other similar properties that have sold in the immediate and surrounding vicinity.