Web Lettings Terms of Business - SPACE …...1 Lettings Terms of Business (6 pages) By completing...
7
Residential Lettings Terms of Business Thank you for your interest in our Residential Terms of Business for our Lettings service. We offer a range of services and our Terms of Business may differ slightly after we have discussed your requirements. This opportunity is greatly appreciated and we will endeavor to provide you with the excellent service you are to expect from us. On our visit to the property we will provide a complete Valuation Form for your approval. This will have the specific property details. Our fees start from 8%. This is a let only service, we also provide full management at an additional 5% and a range of services in between. NB: If we do not rent the property you will not pay any fee. We will carry out the references and Checkin/Inventory Report as well as protecting the Tenants Deposit in an approved scheme at no charge. There will be no hidden fees involved. Once you have approved the Terms of Business we will market the property and begin viewing appointments. We will always accompany the applicant, we will always wear shoe protectors and we will always secure the property. Once we have completed the Market Appraisal we will require an email from you, the Landlord with the following: • Authorisation letter from the Landlord instructing SPACE to market the specific property and please list the address/es • Proof of Ownership (Land registry document/s or Mortgage Letter/s or Letter/s for your Solicitor) • Copy of Passport • Copy of Driving Licence (or utility bill, 2 nd form of ID with home or business address req.) • Bank details – sort code and account number so that we can transfer the first months rent (or on-going rent, if rent collection is required) Our Terms of Business consist of 6 pages detailing what is expected and agreed by you, the Landlord and SPACE, our company. Should you require a copy of our Lettings Tenancy Contract (Assured Short Hold Tenancy Agreement) for review, please email your request and we will provide this at the cost. Please note, we protect our relationships and so specific clauses in all the agreements can be arranged and approved in line with Statutory Law.
Transcript of Web Lettings Terms of Business - SPACE …...1 Lettings Terms of Business (6 pages) By completing...
ResidentialLettingsTermsofBusiness
ThankyouforyourinterestinourResidentialTermsofBusinessforourLettingsservice.WeofferarangeofservicesandourTermsofBusinessmaydifferslightlyafterwehavediscussedyourrequirements.This opportunity is greatly appreciated and we will endeavor to provide you with the excellentserviceyouaretoexpectfromus.OnourvisittothepropertywewillprovideacompleteValuationFormforyourapproval.Thiswillhavethespecificpropertydetails.Ourfeesstartfrom8%.Thisisaletonlyservice,wealsoprovidefullmanagementatanadditional5%andarangeofservicesinbetween.NB:Ifwedonotrentthepropertyyouwillnotpayanyfee.Wewill carry out the references and Checkin/Inventory Report aswell as protecting the TenantsDepositinanapprovedschemeatnocharge.Therewillbenohiddenfeesinvolved.Once you have approved the Terms of Business we will market the property and begin viewingappointments. Wewillalwaysaccompanytheapplicant,wewillalwayswearshoeprotectorsandwewillalwayssecuretheproperty.OncewehavecompletedtheMarketAppraisalwewillrequireanemailfromyou,theLandlordwiththefollowing:
• AuthorisationletterfromtheLandlordinstructingSPACEtomarketthespecificpropertyandpleaselisttheaddress/es
• Proof of Ownership (Land registry document/s or Mortgage Letter/s or Letter/s for yourSolicitor)
• CopyofPassport• CopyofDrivingLicence(orutilitybill,2ndformofIDwithhomeorbusinessaddressreq.)• Bankdetails–sortcodeandaccountnumbersothatwecantransferthefirstmonthsrent
(oron-goingrent,ifrentcollectionisrequired)OurTermsofBusinessconsistof6pagesdetailingwhatisexpectedandagreedbyyou,theLandlordandSPACE,ourcompany.Should you require a copy of our Lettings Tenancy Contract (Assured Short Hold TenancyAgreement)forreview,pleaseemailyourrequestandwewillprovidethisatthecost.Please note, we protect our relationships and so specific clauses in all the agreements can bearrangedandapprovedinlinewithStatutoryLaw.
1
LettingsTermsofBusiness
(6pages)
BycompletingthisformyouareinstructingSPACEAcquisitionsLtdtradingasSPACEtomarketyourproperties.
WemustnotcommencethemarketingofapropertyuntilwearesatisfiedwehavetheLandlordsauthorityandtheTermsofBusinesshavebeenagreed.TheseTermsofBusinesspertaintoallpropertiesownedbyyouandinstructedbyyouforSPACEtomarket.WemustholdasatisfactoryletterofauthorityfromtheLandlordfor each property. In addition to the signed Terms, please provide an email for each property ‘I/We theLandlordauthorizeSPACEtomarketthepropertytheaddressis…’
LandlordInformation
CompanyName:
ContactName:
ContactNumber:
ContactEmail:
LandlordsName:
LandlordAddress:
LandlordsPhone:
LandlordsEmail:
BankName:
SortCode:
AccountNumber:
Conditions:PleasespecifyanyrequestsorconditionsorchangestoourTerms.Thankyou.
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
2
LettingsService:
SpaceAcquisitionsLtd, tradingasSPACEwill charge8%of the total rental income for thelengthof theagreement. SPACE isnot currentlyVAT registered, feesdonot includeVATand VAT will not be added to invoices and statements. SPACE commission fee will bedeductedfromthefirstmonth’srentalpaymentifsufficient,butifnot,thebalancewillbepayablebytheLandlordpriortothestartoftheTenancy.TransferredtotheSPACEclient’saccount:BarclaysBusiness.SortCode:20-76-90Account:13078353.Ref:PropertyAddress.LetOnlyServiceprovides:Formal Valuation and Market Appraisal, Photos, Marketing Copy, Online Advertising,AccompaniedViewingAppointments,NegotiatingTermsoftheTenancy,PreparationoftheApplicationofTenancyandTheAssuredShortholdTenancy/Contract,TenantandGuarantorReferencingChecktoincludeapasscertificatewithwww.vanmildert.net,CollectingtheFirstMonths Rent and 5WeeksDeposit from the Tenant prior to the start of theAgreement,Utilities and Council Tax Change-over, All legally compliant paperwork emailed to theLandlordensuringalegallethasbeenundertaken.AdditionalservicestoaddtotheLetOnlyServiceifrequired:(Pleasetick)‘Notick,noadd-on’
o ProtectingthedepositwithTheDepositProtectionCustodialScheme: £40.00www.depositprotection.com
o InventoryReportandCheckOut:Payablewhenthetenantgivesnotice: £195.00
o 4kVirtualTour/ScantoaddtotheonlineMarketingBrochure: from£200
o DroneVideo: from£200
o ProfessionalEndofTenancyCleaningtopriortothemovein: from£90
o RentCollection: 2%pcm
o Management: 5%pcm
o Staging: from£500
o RentGuarantee: from£100SPACEreservestherighttorequesttheco-operationoffellowagentstoassistinmarketingthepropertyatnoadditionalcosttotheLandlord.TheLandlordwouldalwaysbeinformed.
3
Inventory,Check-InandCheckoutReports:SPACEwillarrangeaCheck-InInventoryreportandaCheckoutInventoryreportonbehalfoftheLandlordatacosttotheLandlordthatwouldbedependentonthesizeoftheproperty.TheLandlordcanrequestfortheTenanttopayforoneofthereports, it istypical fortheTenanttopayfortheCheck-InandfortheLandlordtopayfortheCheckout.ItisimportantforallLandlordstohavethisreport, itspurposebeingtoprotecttheLandlordagainstanydilapidations,whichmayoccurandcanbeaccuratelyassessedattheendoftheTenancy.Thedetailed reportmustbeagreedwhen the tenantmoves in. This is vital to claimanydepositmoniesifrequired.AdministrationFees:Landlordswillberequiredtopay£120.00forthecostofservingSectionNotices.Landlordswillberequiredtopayforpostage.DepositdisputescanbearrangedbySPACEifthepropertyismanagedatnocharge,ifnotmanaged,achargeof£100.00willbeapplied.Renewals:IftheoriginalTenancyisrenewedorextendedforthesameTenantafurtherchargeof6%oftherentaltermbecomespayabletousattheoutsetofsuchextendedperiod. Thisfeeshouldbepaid inonesumforthetermoftheagreement. Shouldtherenewalbecomeaperiodicagreementthefeewillbecalculatedona12-monthterm.Shouldthetenancyendbeforetheendoftheterm,apro-ratedrefundwillbeapplied.Insurance:Under the terms of a Tenancy Agreement, the Landlord is responsible for insuring thebuildingcontentsincludedintheInventoryReport.TheLandlordmayalsowishtotakeoutLandlordsinsurancetobefullyprotected.SPACEhasselectedAlanBoswellInsuranceBrokers(www.alanboswell.com) to help deliver excellent service in every area. Theywere established in1982 and are a leading independent broker operating from 7 locations and employing over 350insuranceprofessionals.LandlordsInsurance,TenantsContents/LiabilityInsuranceandRentGuaranteeCoverisavailablethroughSPACE.Taxation:UnderSection350ICTA1988,youraccountantTaxofficeshouldbenotifiedofyourlettingsarrangementswhetheryouaredomiciledintheUnitedKingdomorOverseas.ItistheLandlord’sresponsibilitytoadvisetheInlandRevenueoftheRentalIncomereceivedonallproperties.IntheeventthattheLandlordisdomiciledoutsideoftheUnitedKingdomandSPACEmanagestheproperties,SPACEwillretainapercentageofthegrossrentalincometocoveranyoftheLandlordsfuturetaxliabilities.MortgageArrears:Whereaproperty isbeingmortgaged,orheldona long leasehold,consentforthe lettingmustbegrantedinwritingbytheLandlordasanassurancethattheBank,BuildingSocietyorotherMortgageeortheLandlord/Lessoragreestothepropertyofpartofthereforebeing
4
sub-let. This action is necessary to ensure that the tenant has a trouble freeoccupancy.ThiswrittenauthoritymustbeavailabletoSPACEatthecommencementoftheletting.CleaningandDecoration:Thepropertyshouldbeprofessionallycleanedpriortothenewtenantmovingin.ApaidinvoicefromtheCleaningCompanyshouldbeprovidedtoSPACE.OnCheck-outitisvitalthatthetenantsleavethepropertyinthesameconditionaswhentheymovedin.Depositcompaniesarebiasedtowardsthetenant,theLandlordisrequiredtoprovideproofofthemoveinconditionoftheproperty.Thepropertyshouldbeingooddecorativeorderbothinsideandout.Asof27thMarch2019theHomes(FitnessforHumanHabitation)Act2018HomesLegislationisinplace.InorderforSPACEtoensurethepropertyishandedbackinthesameconditionaCheck-Inreportisfiledalongwithallinvoicespaidtoprepareforthetenancy.Non-PaymentofRent:ShouldthetenantceasepaymentofRent,SPACEwillnotberesponsibleforanylossofrentforanyreason. RentGuaranteecanbearrangedwithSPACEatanadditionalcost forthetermoftheagreement.Pleaseaskfordetails,pricesarefromjust£100.00peryear.Maintenance:Allappliancesmustbeinworkingorder.AcurrentGasSafetyCertificatemustbeavailablepriortothecheckin.SeetheHowtorentGuideforfurtherinformation.HowtoRentGuideSafetyRegulations:Under section 12 (1) of the Consumer Protection Act 1988, and the Fire and SafetyRegulations1993,itisnowanoffencetosupplyfurniturethatdoesnotpassthe‘cigarettetest’.Thismeans thatall furnishings, loose fittings,permanentof loosecoversmustcarrytheBritishStandardKiteMarkstatingthatthefurnitureisfireresistant.Allpropertiesmustbefittedwithasmokedetectoroneachfloorandacarbonmonoxidealarmclosetothegasappliances. TheannualGas SafetyCertificatemustbegiven to the tenantsprior to theirmoveinandwithin28daysoftheannualtest.HowtoRentGuideGardens:The Landlord must ensure that the garden, paths and entrance etc., are clear and tidy.Tenants will be expected to maintain the garden andmow the lawn. Youmay wish toincludeanumberofGardenerVisitstoyourproperty;SPACEcanarrangethisforyou.Valuables:Wesuggestallvaluablefurniture,antiques,paintingsetc.beremoved,astheTenantmaynothavetheknowledgetotakeadequatecareofthem.Consents:InallsituationstheLandlordisrequiredtoobtainallnecessaryconsentsforviewings,visitsandInspectionsetc.
5
Deposits:TheTenantpriortomovingintothepropertywillprovideamaximumof5weeksdeposit.ItisalegalrequirementforLandlordstoprotectthedepositinaregistereddepositprotectionschemewithin 30daysof the tenantpaying thedeposit. SPACE can arrange this for theLandlord. If the Landlord has requested theDeposit, it is the Landlords responsibility toprotectthedeposit,SPACEcannotbeheldliableshouldtheLandlordchoosenottoprotectthedeposit.SPACEusethecustodialschemearrangedwithDPSBysigningthisagreementallLandlordsagreetocomplywiththeLawandwillprotecttheDeposit.TheLandlordwillreimburseSPACEinanyeventachargeorpenaltyisincurredduetotheLandlordfailingtocomplywiththeLaw.ManagementService:SPACEManagement fee is 5% of the rental amount for the term stated in the TenancyAgreementchargedmonthly.SPACEwillcollecttherentfromtheTenantmonthly,deducttheManagementfeeandtransferthebalancetotheLandlordwithin3daysofreceivingtherentpayment.SPACEManagementdepartmentwillcontacttheLandlordwithallTenantissues.SPACEwillarrangemaintenance,repairsandservicingofappliances.ShouldtheLandlordnotrespondto issues with in 48 hours SPACE is authorized by the Landlord to spend up to £300.00withoutwaitingforauthorizationfromtheLandlord. SPACEwillalwaysacttoprotecttheLandlordsinvestment.SPACEwillarrangeinspectionsatnocharge,howeverifareportisrequiredafeeof£100.00willbecharged.Werecommendonereportperyearhalfwaythroughthecontract.AthirdpartyInventoryCompanywillcarrythisout. Thispricemayvarydependingonthesizeoftheproperty.If forany reasona solicitormustbe instructed, it is theLandlords responsibility todo so.SPACEcanrecommendreputablecompaniesandcanassistwillalltherelevantpaperworkrequired.SPACEalsooffersbespokeManagementpackagesfortheoverseas(orunable)Landlord.Should thepropertybevacant foranyreasonSPACEcancarryour inspectionsata feeof£100.00pervisit.SPACEcannotbeheldresponsibleforanydamagetothepropertyduringanytimethepropertyisvacant. It is importanttonotifytheinsurancecompanywhenthepropertyisempty.RightofTermination:SPACE and the Landlord has the right to terminate the agreement giving either party 38dayswrittennotice.
6
Sales:ShouldtheSalesofthePropertybeagreedwiththeTenantthathasbeenplacedbySPACE,thelandlordagreestotheentitledcommissionfeeof0.75%ofthesaleprice.ThePropertyOmbudsman:SPACE is amember of TP0 (The Property Ombudsman) and TSI (Approved Code TradingStandardsUK)wearecommitted toprovidingaprofessional service toallourclientsandcustomers.If somethinggoeswrong,weneedyou to tellusabout it. Thiswillhelpus toimprove our standards. If you have a complaint, please put it in writing andemailinfo@space-acq.comincludingasmuchdetailaspossible.Wewillthenrespond.Wewanttoprotectourrelationshipwithourclients.PrivacyGDPR:Weprioritisekeepingyourpersonaldatasafe,ourprivacypolicycanbefoundwww.space-acq.comandinlinewiththedataprotectionregulationsintroducedon25thMay2018calledGDPR.Wewillnotprovideanofourclientsdetailstoanyoneorcompanywithoutthedirectconsentofourclients.Pleaseticktheapplicableparagraph:
o IamaUKLandlord;I/WeconfirmthatI/WearedomiciledintheUnitedKingdomforthepurposesofPaymentofUKIncomeTaxandthattheLandlordonthisagreementisresponsiblefortheUKIncomeTax.
o I am an Overseas Landlord; I/We confirm that I/We are domiciled in outside theUnited Kingdom for the purposes of Payment of UK Income Tax and that theLandlordonthisagreementisresponsiblefortheUKIncomeTax.
Landlord Witness Signature …………………………………………………………
Signature ……………………………………………………………
FullName: ………………………………………………………… FullName: ……………………………………………………………
Date: ………………………………………………………… Date: …………………………………………………………… SPACE Witness Signature: …………………………………………………………
Signature: ……………………………………………………………
FullName: ……………………………………………………………
FullName: ……………………………………………………………
Date: …………………………………………………………… Date: ……………………………………………………………
