Management Terms and Conditions

Services – Pre-Let

 PIAM will provide:

• A free appraisal, valuation & advice on letting.

• Appropriate marketing.

• A Tenant Credit Check and full reference report in line with clients pre-agreed wishes.

• An Assured Short-hold Tenancy Agreement.

• The collection and holding of the deposit (if required) payable by the tenant against non-payment of rent, damage etc to the premises.

• Pre-agreed procedure for the collection of rents.

Our Fees

12.5% (plus VAT) of the gross rent is generally charged. In exceptional circumstances we charge 15%.

£50 (plus VAT) administration fee to cover the marketing and administration associated with a new tenancy. There is no charge for new agreements for the same tenant.

£150 (plus VAT) administration fee to cover the taking over of a property not sourced by PIAM. This will include initial visits and reports.

On finding a tenant who is accepted by you or whom you have given us the authority to accept on your behalf (subject to tenant signing the Tenancy Agreement), our service covers:

• Collection of rent.

• Crediting rent direct into your chosen bank or building Society account.

• Preparation and submission of rental statements.

• Preparation and submission of management reports.

• Notification to service companies (telephone, gas, electricity, water) & local authority of liability for the Council Tax.

• Keeping clients informed of any repair, maintenance etc. required at the property.

• Should the tenant give notice, to offer the property for rent in the last month of the tenancy hopefully avoiding a void period.

• Checking the inventory against the premises upon the termination of the tenancy.

• In the event of a tenant terminating the tenancy within the first three months we will not charge a fee for finding a replacement tenant. However if a tenant terminates the tenancy after the first three months of the tenancy then normal charges will apply.

• Our management includes the supervision of the property when it is not let, although, visits may well be only periodic.

Inventories

The Landlord may prepare the inventory him/herself. However, we must have this in our possession prior to the tenancy agreement being signed by the tenant. A typed inventory would be preferred in an effort to avoid any misinterpretations. Alternatively, we can arrange to carry out the inventory on your behalf at a charge of £50 for the first hour and £20 per hour thereafter. (Min. £50).

Tenancy Agreements

In the event of an existing tenant wishing to renew the tenancy at the expiry of their present Agreement (with the landlord's consent), there will be no charge for preparation of the new agreement.

Safety Checks

Ensure Gas Safety checks, which must be carried out as required by law, are up to date. Electricity Safety Check to be made on a regular basis.

Garden & Cleaning

We can arrange garden maintenance & cleaning services with local firms if required.

Other services

• Preparation of an Assured Short-hold Tenancy Agreement.

• Collection and holding (if required) of the deposit payable by the tenant against non-payment of rent or damage to the premises.

• Pay out-goings such as water rates, insurance premiums and any service charge and/or maintenance charge or similar contributions to shared expenses and account to you regularly. Although we shall do our best to query any obvious discrepancies, it must be understood that we are entitled to accept and pay without question, demands and accounts which appear to be in order. In particular, we cannot accept responsibility for the adequacy of any insurance cover or for the verification of service or main tenancy charge demands or estimates where applicable.

• Deal, without an additional fee, with day-to-day management matters including minor repairs up to the maximum of £50 for any one item. Except in an emergency, wherever practical estimates are obtained and submitted to you for your approval in respect of works of redecoration, renewal or repair likely to cost more than £50. an additional supervisory fee of 10% plus V.A.T of the total cost is charged for this work.

• Dealing with any insurance claims.

• Our management will include investigation of any defects, which come to our notice or are clearly and adequately brought to our attention by the tenant.

• We shall inspect the property on a periodic basis.  It should be appreciated that any such inspection can only extend to apparent and obvious defects and would not amount to a structural survey of the property. We cannot accept responsibility for hidden or latent defects.

• In the event of there being a change of tenancy during our management, PIAM will deal with the preparation of the property for the new tenant.

• We can under certain circumstances manage either partial or total refurbishment of properties. If we undertake to supervise this work, a fee of 10% plus VAT of the total costs of the work will be charged by us.