General Conditions - Terms of appointment
General Conditions
Terms of Appointment
Except in cases where you intend to re-occupy the accommodation and where special arrangements are made, our appointment is for an agreed initial period of 20 weeks and after the property is let subject to six month's notice to terminate on either side. We expect to be placed in sufficient funds at the commencement and, if necessary, during the term of the management, to enable us to meet all expenditure prior to the next rent collection. It may be necessary that we would hold a working balance, and we will inform you if this is the case, as we cannot undertake to meet any outgoings beyond the available cash, from time to time, in our hands on your account.
Rent Arrears
If rent arrears occur we will make every effort to collect these and of course should we not be successful then no commission (% of rent) would be payable.
Instruction to Solicitors
You will be informed of any rent arrears or breaches of covenant brought to our attention. However, if it is necessary for a Solicitor to take action you will be responsible for instructing your own lawyer and for all fees involved.
Housing Act 1988 & Housing Act 1996
Applications for market rent or appearances before the Rent Assessment Committee or any other Court or Tribunal will be by special arrangement only and may form the subject of an additional charge, which will be agreed beforehand.
Purchase by Party Introduced by us
In the event of a party introduced by us subsequently purchasing the premises, whetherbefore or after entering into a Tenancy Agreement, commission shall be payable to us on completion of the sale at a rate of 2.5 % of the sale price.
Indemnities
The Landlord agrees to indemnify us as Agents for any reasonable charges incurred or imposed on us on his behalf in pursuit of our normal duties.
Value Added Tax & Fees
Except where otherwise stated, our fees and any other charges, which we may make, will be subject to V.A.T. at the appropriate rate. Our fees are normally deducted from rents collected, but may from time to time be by invoice.
Deposits
We would normally hold a deposit of £200, but any amount could be held if required.
General Information
a. Mortgages - Where the property to be let is subject to a mortgage, permission is normally required from the mortgagees to sub-let the property. We strongly advise that you obtain your mortgagee’s permission to sub-let (if required) in principle, at the earliest date rather than applying for this when a tenant is found.
b. Insurance - You should make certain that your property and contents are adequately insured and that your policy covers lettings; many household policies do not do so. (We can be of assistance if you require a referral).
Safety Regulations
A property under part or full management must have a satisfactory Gas Safety Certificate before the start of the Tenancy.
Specific obligations are placed on the letting of property via legislation as follows:
The Furniture and Furnishing (Fire Safety) Regulations 1988 as amended.
The Gas Safety (Installation and Use) Regulations 1994 as amended.
The Electrical Equipment (Safety) Regulations 1994.
The provision of Smoke Detectors.
Various other regulations covering general safety, electricity & duty of care etc.