1.4 Reservation deposit, rent & rent payment

The reservation deposit. You may be asked to pay a reservation or holding deposit by the agent. This sum varies according to the agent and the area in which you wish to live.

• The agent should stop marketing the property whilst references are taken and the arrangements for the tenancy are made.
• The reservation deposit will be refunded by means of deduction from the initial rental invoice.
• An invoice or statement of monies due will be sent to you at your current address detailing how much should be paid initially. A second copy will be sent to the agent along with the tenancy agreement.
• We usually require the balance of the month's rent plus one full month to be paid at the commencement of the tenancy. If the tenancy is starting within the first two weeks of any one month we may accept payment of the lesser amount to the end of that month only. This will be confirmed at the time of the offer being accepted.
• The first rental payment is due on or before the commencement date of the tenancy in the form of cleared funds i.e. debit/credit card, direct bank to bank transfer or in exceptional circumstances bankers draft.
• These payments should be payable to GRML. Card payments can be made by calling our accounts department direct. The statement of monies due referred to above will also detail to whom the monies should be paid.

Refundable reservation deposit and your rent

• A personal cheque must be received no less than seven working days before the commencement date to allow time for clearance. Please note that if the agent or GRML cannot confirm that the monies have cleared to their account prior to the commencement date we will not grant occupation.
• Unless otherwise stated, the rent will be exclusive of water, gas, electricity and council tax, which are payable by you direct to the individual utility company or authority.
• Rent is due on the date shown on the tenancy agreement, if this is not in line with your salary payment it is your responsibility to ensure that the monies due on the first of the month are set aside and are available to meet the Direct Debit payment on the first of the month. The rent is calculated on a calendar month basis; i.e. weekly rent multiplied by 52, divided by 12, i.e. weekly rent of £350 per week = £1516.66 per calendar month. All rents are payable on the first of the month. Should your tenancy be starting on any date other than the first or last day of the month, a calculation will be made of the amount of rent payable for the balance of the month.
• Thereafter the normal method of rental payment is by calendar monthly installments payable in advance by Direct Debit directly to GRML.
• Rent demands are not sent.
• Please note that the tenancy agreement allows for interest to be charged on late payment of rent.
• Unless otherwise agreed prior to the commencement of the tenancy, rent will only be accepted from persons named on the tenancy agreement.
• Bank charges which GRML may incur relating to rental payments which are not honoured by your bank will be added to the outstanding rent due.