Residential lettings
All residential tenancies are Assured Shorthold tenancies for an initial fixed term of one year. The tenancy is renewable after the first year.
Credit checks and references are taken up prior to commencement of each tenancy with the tenant's/guarantor's employer, bank and previous landlord, as appropriate. There is a charge of £25 per tenant/guarantor and this is payable by the tenant.
On completion of any Tenancy Agreement the first month's rent is required plus a damage deposit equal to 2 months' rent which is held until the end of the tenancy.
There is a contribution of £120+VAT towards the legal costs involved in the preparation of the Tenancy Agreement. If a guarantor is required a further cost of £40+VAT is incurred.
Rent is payable monthly in advance by Direct Debit on the first day of each month.
On vacating the property the tenant is required to redecorate the property throughout internally and professionally clean the carpets.
Commercial leases
Terms for commercial leases are negotiated
through our agents, Derrick Wade Waters,
telephone 08415 300400.
The length of the lease is agreed between the
parties generally on fully repairing and insuring
terms. Bank, trade and other references are taken
up by our agents before the commencement
of the lease.
Leases are drafted by our solicitors, Mills & Reeve
of Cambridge, and the incoming tenant is expected
to contribute to these costs.
Rent is paid quartly in advance with VAT charged
thereon. In addition the insurance premium for the
premises is charged annually. The exterior of the
building is re-decorated every three years with the
appropriate cost being borne by the tenant.
The tenant will be required to attend to all
dilapidations to the property on expiry of the lease.
Please note that these are general guidelines to
our commercial leases and should not be relied
upon in specific instances.