Vertical and Our Tenants

We know that living in a house someone else owns can often make it feel unhomely and leave you feeling uncertain. It can also raise uncomfortable situations.

We value our tenants as much as our landlords meaning we are here for you too whenever you need us for advice, to report an issue and make your moving process as smooth as we can.

Our in house maintenance team means you have instant access to experienced and trusted professionals, this makes it easier for us to notify and schedule required work and give you the clearest communication.

Read on to find out more, how we help look after our tenants and look at an example of a Tenant Welcome pack, which tells you all about being a tenant with Vertical PM.

Vertical and our landlords comply with the Tenant Fees Act 2019. This prevents landlords and letting agents charging you for certain requirements such as referencing and end of tenancy cleans.

However there are still some scenario’s where charges and fees are applicable to our tenants.

Tenant Fees

  • The reservation fee is equivalent to one week's rent and is intended to secure a property.


    Kindly be informed that this fee will be retained if any relevant individual (including guarantors) withdraws from the tenancy, fails referencing or a Right-to-Rent check, provides materially significant false or misleading information, or neglects to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or any other mutually agreed upon Deadline for Agreement documented in writing).

  • Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.

  • Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.

  • Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent.

    Please Note: This will not be levied until the rent is more than 14 days in arrears.

  • Tenants are responsible for covering the genuine expenses incurred in replacing any lost key(s) or other security device(s).

    If the loss necessitates the replacement of locks, the tenant will be charged for the actual costs of a locksmith, new lock, and replacement keys for themselves, the landlord, and any other individuals requiring keys.

    Additionally, if supplementary expenses arise, there will be an additional charge of £15 per hour (inclusive of VAT) for the time spent replacing lost key(s) or other security device(s).

  • The fee for each agreed variation is £50 (inclusive of VAT). This fee encompasses expenses related to landlord instructions, as well as the preparation and signing of new legal documents.

  • The charge for each replacement tenant is £50 (inclusive of VAT) or any higher reasonable costs incurred.

    This fee encompasses expenses for landlord instructions, referencing of new tenants, Right-to-Rent checks, deposit registration, as well as the preparation and signing of new legal documents.

  • If the tenant decides to terminate their contract before its completion, they will be responsible for covering the landlord's expenses associated with finding a new tenant, along with any outstanding rent owed until the commencement of the replacement tenancy.

    These expenses will not exceed the total outstanding rent on the existing tenancy.

Your Money

Your Deposit and Rent payments are handled with the utmost care and are safe at all times.

DEPOSIT

We use the TDS Custodial services who are a non profit, independant deposit resolution service. This ensures that your deposit is kept safe throughout your tenancy and disputes are handled fairly.

RENT

Your rent payments are sent to a ringfenced client money and handled by a team of independant accountants, who will then pay the landlord accordingly. Your rent is always safe and being paid to who it should.

Referencing

If you wish to rent a property through Vertical you will need to meet the below requirements. This helps to ensure that you can budget accurately for your next home.

You will need:

  • A minimum combined yearly salary of 33 X the monthly rent.

  • Be able to provide three years employment history.

  • Be able to provide three years address history.

  • Be able to provide three months bank statements.

  • Be able to provide proof of Address (bank statement or utility bill).

  • Pass Right To Rent Checks

  • Must be a resident in the UK for longer than 6 months, we cannot run credit checks on less than 6 months.

Online Portal

Our online portal has all the documents you need and is regularly updated after property inspections, renewal and anything else that is relevant to you tenancy.

We want to make it easy for you to access anything you need at anytime, so you are as informed as us and your landlord.

It has a messaging tool allowing you to record every correspondance with us in one place, so everyone is clear and you can reach us quickly and reply to us easily.

Reporting and Fixing Issues

We make it easy for you to report repairs. We have an easy to use form that will guide you through reporting your issue quickly on our website.

Our in house maintenance team will in most instances request a video call with you to have a quick assessment prior, so we can arrive prepared to fix your issue as quickly as we can, avoiding disruption.

Our team are professional, friendly and here to help keep your home in a good condition and compliant

Emergency Helpline

Our emergency helpline is on hand outside of normal office hours to handle critical issues and progress to getting the right engineer to visit and make the situation safe.