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These notes
are for the guidance of our clients and form the basis of our
contract to use our professional services in the letting of
residential property subject to the confirmation of our client’s
instructions.
No-obligation rental valuation
We will be happy to
visit your property and provide a no-obligation rental
valuation in addition to assisting with any buy-to-let investment
advice.
We will
provide, if required, advice on the legal aspects of letting, tax
implications, the most appropriate form of tenancy, rent expectation
and the preparation required of the property to be let.
Initial
visit
Once instructed to let your property we will take full details of the
dwelling, including digital
photographs, in order to promote the property to best advantage.
We will
seek your instructions regarding the type of tenants you would wish
to obtain, whether or not pets or smokers are to be allowed, etc.
This will enable us to cross-match your requirements with those of
prospective tenants making enquiries to ourselves.
Advertising
We will
circulate and promote details of your property to selected
enquirers, which may include newspaper advertising at our
discretion. We shall seek a comprehensive application form from
potential tenants and conduct an in-depth interview to establish the
suitability of applicants.
Viewing
We will
arrange all viewing and normally accompany applicants on such
viewings. If the property is unoccupied then we shall require a set
of keys which will be securely kept in our offices. Under such
circumstances all viewings will be accompanied.
Negotiation
We will
undertake to negotiate with applicants on your behalf and forward to
you all sensible offers for your approval.
Holding
deposit
Should an
applicant wish to take up the tenancy subject to status enquiries,
credit search and your approval; we shall seek a nominal holding
deposit as a token of good faith from the applicants.
Status
enquiries
We shall
seek references from employers, previous landlords and personal
referees in addition to a credit search in order to establish the
applicant’s financial standing. Where necessary we shall seek and
secure a guarantor. At this point, we will report to you with our
findings and ensure your satisfaction before proceeding further.
Preparation
of Documentation
We will
prepare the appropriate Tenancy Agreement and other legal notices
and documents in order to comply with current legislation, taking
into account your specific requirements and instructions. Inventory.
We will also prepare a detailed inventory and Statement of Condition
as required and agree this with the tenant prior to occupation.
Services
and Utilities
We will
write to Gas, Electricity and water services as appropriate to
inform them of the forthcoming change of occupancy. In addition, we
will inform the local authority of the liability for Council Tax or
subsequent replacement tax passing to the new occupants.
Accounts
We will
ensure that the deposit and first months rent are received in
cleared funds by the date of commencement of the tenancy term and
forward these to you after deduction of our charges. We will set in
place arrangements for future rent payments in accordance with your
instructions.
Handover to
tenants
On the day
of handover we will check the inventory with the incoming tenants,
ensure that all documentation is in order and hand over the keys to
the property. We shall then account to you with copies of all
documentation for your files.
Management Service
A comprehensive
Property Management Service is available as an alternative should
you require it and you may opt for this service at any time. In
addition to the services described above, the following duties are
undertaken on your behalf if you wish to employ our full management
service:
Maintenance
During the term of the
tenancy we will investigate and, where necessary, arrange for minor
repairs or replacements to be undertaken within your property,
verify tradesmen's invoices and make payment on your behalf from
income rental received up to the limit of your authorization to us.
Should a maintenance or repair task exceed your authorized limit we
will seek your instructions.
NOTE: In the event of
an emergency, however, we undertake to have carried out all
precautions necessary to safeguard your property with the resultant
expenses incurred deemed to be with your authority and on your
behalf.
Inspection visits
We will make quarterly
inspection visits to the property and advise you of the results
including, where necessary, any maintenance or repair consideration
that we consider should be brought to your attention. Such
inspections, however, should not be regarded as anything more than a
check to ensure that the tenants are observing the conditions of the
agreement and that in all respects the property appears to be well
cared for by the tenant.
Check out
At the end of the
tenancy, we will carry out a dilapidation assessment with the tenant
in attendance, where possible, and make such deductions as, in our
opinion, are necessary from the tenants deposit in order to
compensate you for such dilapidations. (Fair wear and tear obviously
being taken into account.) We will arrange for the transfer of
utilities and seek new tenants, where applicable, in order to ensure
continuity of occupancy prior to your return to take up residency.
Note: Where the
property remains unoccupied between letting periods it must be
distinctly understood that our management does not include
supervision of the property, although, in normal circumstances,
where we are conducting viewing appointments, periodic visits may be
made.
Breaches of Agreement
Where there is a
breach of the tenancy agreement by a tenant, we will take all
necessary steps to resolve the breach and report to you on such an
event and on the progress being made to resolve the problem.
Tax Liability
We will advise on tax
liability to those landlords who are non-resident and liaise with a
nominated accountant or other professional on your behalf should you
instruct us to do so. If it is your intention to reside abroad
during the period in which your property is let i.e. you become
non-resident in the U.K. for Tax purposes, we, as your agent, will
be held responsible by the Inland Revenue for the payment of any liability which
may arise from the rents collected on your behalf. We are obliged,
therefore, and indeed authorized under the Taxes Management Act
1970, to deduct tax at the basic rate from the rental income
received. Such deductions will be held on deposit in an interest
bearing Building Society account to your credit until the tax
liability is agreed with the Inland Revenue. Any surplus of funds,
after settlement, will be forwarded to you for your disposal. In
order to avoid such taxation at source an application to have rents
paid without deduction of tax may be made to the Inland Revenue. We
hold these applications and would be happy to assist you in
applying.
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