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THE TENANCY
We would recommend an assured shorthold tenancy under the 1988 housing act with a minimum period of six or twelve months. The landlord and tenant could not terminate the agreement until period expires, after this period possession is guaranteed upon the landlord giving two months notice in writing. Longer periods of up to three years on an assured shorthold tenancy can be allowed using the same agreement subject to two months notice by either party in writing.
THE TENANCY AGREEMENT
We will prepare a tenancy agreement under the guidance of our solicitor who will keep us informed of any changes in the law. There will be no charge to the landlord as this service is included in our management fee.
THE MORTGAGE
If you have a mortgage secured on your property you must inform your lender of your intention to let the property. The terms of your mortgage deed will undoubtedly preclude any letting without their consent.
THE TENANT
In January 1989, the housing act 1988 introduced two new forms of tenancy - an assured tenancy and an assured shorthold tenancy. We would in the majority of cases, recommend an assured shorthold tenancy, which has two main advantages:-
(a) The landlord has an absolute right to recover possession against the tenant provided that the appropriate notices have been properly given and the contractual term i.e. the original agreed term has lapsed.
(b) The tenant cannot refer to the rent officer for the registration of a fair rent against the property. The tenant will have to pay the contractual agreed rental although he/she does have the right to refer to a rent assessment committee if he/she feels that the rent paid is higher than the general rents paid for similar properties in the locality. If the assessment committee agree that a lower rent should be paid, this will apply only during the period of that particular tenancy and will not be registered against the property.
We will endeavour to ensure that tenants or individual tenants are of good standing, responsible and are able to satisfy reference requirements or agents satisfaction.
TAXATION
New legislation in April 1996 was introduced to tax property income for non-residents at source. To comply, we will be obliged to withhold any pay to the Inland Revenue, an amount of income tax at the current percentage. However should the landlord request from the Inland Revenue to collect direct then we would require confirmation in writing from the revenue. We are not required to collect tax from U.K. residents.
RENTAL
We will agree with you a rent to be quoted to potential tenants. Unless specifically agreed otherwise, this will include all payments for which you are responsible; such as ground rents etc. Please note that services charges will be the responsibility of the tenants.
ADVERTISING
Our fees shall include any expenses that we may decide to incur in photographing and/or advertising the property
RENT REMITTANCES
Once rent is received by us five working days will be needed to allow the cheque to clear, after which the balance (less any deductions) will be forwarded to your bank account.
RENT ARREARS
The agent cannot be held responsible or liable for any rent arrears, but will use all reasonable means to recover the arrears or to advise the use of a solicitor. In agreed cases the agents will guarantee the rent for six months subject to tenant referencing. (A landlords legal costs insurance is available. (Ask for details).
INSURANCE
Your property and contents should be comprehensively insured. You should inform your insurers of your intention to let the property as failure to do so may mean the rejection of any future claim. If your insurers reject cover we have an insurance for landlords available. (Ask for details).
PRIOR TO LETTING
It is very important that prior to letting you ensure that the property is in a good condition for letting. In particular it must be thoroughly cleaned and in good repair with all domestic appliances in full working order. The agent will not be responsible for start inspection.
REPAIR/REPLACEMENTS
Our management service includes the investigation of defects which may come to our notice or any defect which is properly brought to our attention by the tenant.
KEYS
Three sets of keys must be supplied by the landlord on instruction.
COUNCIL TAX
The liability for payments of council tax will be responsibility of the tenant.
OTHER SERVICES
The property rental will be offered exclusive of other charges. The tenant will be liable to pay these charges. We will write to the appropriate authorities informing them of a change in occupier when the tenancy starts.
REGULAR INSPECTIONS
An important part of our service will be to inspect the premises at regular intervals to maintain that the property maintains in good condition. (the meaning regular will be at the agents discretion).
SECURITY DEPOSIT
The agent will hold on deposit the sum equal to one month's rent from the tenant should damages or arrears occur. The deposit will be returned to the tenant following a satisfactory final inspection. Rent arrears from the deposit can only be used at the end of the tenancy (within 28 days subject to the agents discretion).
LEGAL CHARGES
Should it be necessary to use Legal Action then the Landlord will be responsible for instructing the use of a Solicitor. The agent cannot be held responsible or liable for any legal costs, damages or arrears.
VOID PERIODS
The agents will use all means to maintain regular tenants/payments but cannot be held responsible or liable should void period occur. It is not normal for a property to be without tenants for more than a few weeks.
INVENTORIES
Should an inventory be needed then the landlord will provide a checklist for the agent to prepare for signature at the commencement of the tenancy.
FINAL INSPECTION
At the expiry or termination of the tenancy the agent will check the inventory, inspect the property for any dilapidation's damages, rent arrears, (if any) prior to the refund of the deposit to the tenant within 28 days. (The agent will have full discretion to return or withhold the deposit to the tenant or landlord).
TERMS OF MANAGEMENT
As sole agents our appointment will continue during an introduced tenancy term, thereafter subject to one month's notice in writing by the Landlord or Agent. The agents appointment cannot be terminated during the occupation of an introduced tenancy. During the full term of management, funds must be available to meet any expenditure prior to the next rent collection, ( this will mean payments to the landlord at the end of each month). The agent may terminate the appointment at anytime should the landlord use unreasonable behaviour against the agent or tenant.
FIRE SAFETY REGULATIONS
The consumer protection act 1987 section 12i and the 1988 regulations make it an offence to "supply" in the course of business, any furniture to which the regulations apply unless that furniture meets with what is known as the "ignition test". The regulations will basically apply to all the upholstery and upholstered furnishings, loose fittings, permanent or loose covers. Currently the offence carries a punishment of 6 months imprisonment or a fine up to £5,000.
GAS SAFETY REGULATIONS
It has become law that all gas equipment in connection with rented properties must have an inspection by a registered installer who will issue a safety certificate annually.
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