General Information
for Landlords
Unless specifically instructed to the contrary (in writing). The rental charge
is normally exclusive of gas, electricity, telephone, water and council tax,
but inclusive of the property insurance. Under an ASSURED
SHORTHOLD TENANCY AGREEMENT,
the rent will remain the same for the fixed period of the term. At the expiry
of the Agreement a rent review will take place.
Deposit
The Company (excluding let only service) takes a dilapidation deposit in respect
of any breakage’s, damages or losses incurred during the tenancy period
as a result of negligence on the part of the tenant. In most instances this is
equivalent to at least one months rent (any less would require your written consent)
and will be held by this Company as agents for the landlord and as such Accrues
no interest. Subject to final inspection being carried out, this deposit is refunded
directly to the tenant (less any deductions) to a forwarding address taken at
the time of vacating.
Agreements
In all instances the appropriate Tenancy Agreement is issued. Unless specially
instructed to the contrary, in writing we prepare and issue an assured shorthold
Tenancy Agreement, together with the relevant notices (section 20, section 21,
section 48 and schedual 2 ground 2 if applicable). In the case of a company let,
the relevant Company Agreement is issued at no extra cost. You can of course
instruct an independent solicitor to prepare an Agreement on your behalf, in
this instance , whilst accepting your instruction, the company cannot be held
responsible or liable for any error or dispute, by omission or otherwise, that
may arise out of this Agreement and/or notices.
Inventory of Furniture & Furnishings
It is essential that an inventory be prepared to ensure that an accurate record
of all items of furniture and fittings that you are leaving in the property for
use by the tenants is available. We can arrange for a representative to prepare
an inventory on your behalf, prior to the commencement of the tenancy. If you
wish you can provide your own inventory, which would be as detailed as possible,
making notes of all makes, models and condition of all fixtures & fittings
to be left on the premises. This Company cannot accept liability or responsibility
for any mistakes and / or inaccurate description, which may result in a dispute.
Special note: -
Fire & Safety Regulations 1988 (amended 1993)
If you are
contemplating buying furniture and furnishings for any rented accommodation,
the law has changed recently under the Furniture & Furnishings Act (Fire & Safety
Regulations 1988). All furniture and furnishings whether new or used must comply
with the appropriate regulation, with the exception of antique or period furniture/furnishings.
A detailed guide to the regulations can be obtained from The Department of Trade
and Industry. We therefore strongly advise you to ensure that all furniture and
furnishings comply with the regulation. Please do not hesitate to discuss this
matter with a member of staff, who will be happy to assist you in any way possible.
Our Company and any individual cannot be held responsible in any way for your
non-compliance/alleged non-compliance of these regulations. Which may result
in any claims for loss, damage or injury whatsoever made against our Company
and/or its staff, by any third party in connection with these regulations or
by reason of any claim which is made against you as the Landlord.
Gas Safety (installations & use) Regulations 1994
It became
a law in October 1994 to ensure that all gas appliances (boilers, cookers, fires
and water heaters etc) must be checked annually by British Gas or a Corgi registered
(domestic) engineer. It is the landlord’s ultimate
responsibility to adhere to this new regulation and we recommend you contact
your local gas board to arrange a maintenance contract prior to letting your
property. We will be happy to organise this on your behalf, upon receipt of written
instruction.
Exterior
If there is a garden with the property you must ensure that suitable
garden equipment and tools are left to enable the tenants to keep the grounds
in good order, for example: - Lawn mower, rake, spade, hoe, hedge cutters etc.
You may wish a contractor to attend to your garden during the Tenancy period,
rather than rely on the tenants. We can arrange this for you, upon receipt of
your written instruction and subject to an additional charge.
Repairs
During the course of the tenancy, you will be responsible under existing
legislation, for all repairs to the property and contents, except where caused
by tenants negligence or misuse. Should any repairs be necessary, as your Managing
Agents we will arrange competitive estimates for your approval unless the matter
is deemed to be urgent. All out-going’s will be charged and recorded to
your rental statement.
Please note: - Under the Rules of the Royal Institute of Chartered Surveyors
we are not committed to meet expenditure out of our clients Accounts unless the
individual account is in credit.
Keys
You should arrange for keys to be available to your tenant
on the day of occupation, usually one set per adult. Any special keys i.e. window
locks etc should be left on the premises for the tenant’s use during the period of let. If we are
- To manage the property on your behalf then we should hold a set of keys
to allow easy access for maintenance contractors and emergencies.
Mail
You must advise the post office of your forwarding address so that your
mail can be redirected. WE CANNOT ACCEPT RESPONSIBILITY FOR REDIRECTING MAIL
NOR LIABILITY FOR LOST OR RETURNED POST.
Insurance
(Building & Contents) We suggest you advise your insurance company
of your proposed letting at an early stage to ensure that the cover for the property
is not prejudiced in any way. Failure to inform your insurance company may result
in the company refusing to meet any claims.
(Legal & Rent Protection) Whilst not mandatory, we would recommend that
you give a serious consideration to some form of legal protection insurance and
we would draw your attention to the enclosed documentation. (If you do not have
this information, please do not hesitate to contact our offices).
Building Society (or mortgage)
If your property is mortgaged, you will require approval from your lender
before you enter into a letting agreement. In most cases, consent is given readily.
A small administration fee/and or a percentage change to your mortgage rate is
usually made by the mortgagee.
Leasehold Properties
It is wise to check your lease does not have a covenant, which forbids letting.
You can check this information with your solicitor and/or freeholder if necessary.
Type of Tenant
Our Company will take all reasonable steps to find a suitable tenant from
your property. Each prospective tenant will be fully referenced. However, we
cannot be held responsible for any disputes/damages/disagreements and non-performance
of duties on behalf of all the tenants during the period of the let.
Taxation (Overseas Owners)
Your rental income is liable to tax. Whether you are a taxpayer in the UK
or not. The Company to meet tax liabilities, under the provision of the Taxes
and Management Act 1970. Since the monies are held as stakeholders between HM
Inspector of Taxes and our client (the Landlord) will retain acting as your Managing
Agent sufficient funds.
The basis of your assessment will be the gross rent received less a deduction
for allowable expenses relating to your property during the tenancy i.e. Insurance,
water rates, repairs, managing agents fees etc. We are unable to calculate your
assessments with the Inland Revenue and therefore, recommend that you consult
your own accountant or professional advisor. With the introduction of self-assessment
form 6 April 1996, it may be possible for you to receive the rental income without
deduction of basic rate tax. Please consult your accountant or professional advisor.
Excess held after the resolution of your tax liability will be retained. No
interest will be paid on this money.
Legal Costs
The Landlord will be responsible for taking any legal action necessary for
the rent recovery or any other matters relating to the tenancy and will be responsible
for payment of all fees and costs.
Sale of the Property
If at any time after the commencement of the tenancy, unconditional contracts
for the sale of the property are exchanged with the tenant or any associate party,
the agent will be entitled to a commission of 2% of the sale price including
fixtures & fittings, plus VAT payable on completion.
Tenancy Renewals and/or Extensions – Subject to additional fees and
normal Terms & Conditions.
Inventory Fees – Individual quotations available on request.
Additional Property Inspections – Individual quotations available on
request.
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