LETTINGS GUIDE.

Transcription

1 LETTINGS GUIDE

2 Contents for this guide 3 Welcome 4 Buy to let 5 Where to start 7 Attracting tenants 9 Selecting the right tenant 10 Property management 23 Acceptance & variations 27 Landlord information questionnaire 29 Landlord insurance questionnaire 30 Utility suppliers 11 Safety regulations 13 Property management agency agreement

3 Welcome to our Residential Lettings GUIDE Letting a property is serious business, whether you are an experienced investor, landlord, or a private individual letting your home for the first time. History suggests that over a period of time residential property is one of the safest and best performing investments, not only providing an excellent income but also, for many, a significant capital gain in the process. Business growth along with changing lifestyles has resulted in a dramatic increase in demand for rental properties. We have kept pace with this growth by investing in technology and staff and by developing excellent relationships with companies and organisations located in the area, who have continual accommodation requirements for their employees. knowledge and expertise to ensure that our service meets your needs and gives you peace of mind. We are committed to providing a service that is second to none. Your property is a major investment and it is important that you are aware of your responsibilities as a landlord, as well as knowing the best way to optimise your investment. This guide is designed to give you help and advice in this area and explain the services we can offer you and their importance to you. May we take this opportunity of thanking you for your enquiry and we hope that this guide will give you an insight into the professional services offered by Mather Marshall. J. Godfrey Managing Director Letting your property demands careful planning and you need a professional agent who will look after your interests And, at the same time, make being a landlord as stress-free as possible. At Mather Marshall Lettings, we use our 3

4 buy to let One of the safest investments Historically, residential property has proved to be an excellent investment. The value of residential property has, on average, doubled every ten years over the last fifty years. Property should always be viewed as a medium or long-term investment. There are short-term rise and falls in property values but over the long term, property does well as an investment. To ensure your property investment is as good as it can be, it is important to buy the right kind of property. Finding the Right Property Mather Marshall Lettings are able to provide all the expertise you need to ensure that you choose the right type of property to suit your budget and personal circumstances. We will advise you on location, local demand and rental values to enable you to achieve the most from your investment, as well as explaining all the legal, financial and tax issues wherever possible. 4

5 where to start The first stage towards letting your property is to meet with us for a Lettings Appraisal. We provide this service free and with no obligation. Every property is different so in assessing rental value, we take account of accommodation, condition, location and current demand. Most importantly, we have the knowledge of other properties currently being offered for rent and historic information on rents achieved. During the valuation appointment we will advise you about any action you can take to maximise the rental income and its desirability to potential tenants. Furnished or Unfurnished? One of the first decisions to be made is whether to let your property furnished or unfurnished. The advantages of letting unfurnished are: Usually there is greater demand. Lower turnover of tenants. Generally more mature tenants. Less wear and tear on your furnishings. Lower maintenance and repair costs. 5

6 Unfurnished Lettings Unfurnished lettings generally include the following: Carpets or laminate flooring. Curtains/Blinds. Light fittings. Kitchen appliances (known as white goods) should be in good working order with instructions and preferably insured for breakdown. Smaller wall mounted items such as mirrors in the bathroom and cloakroom, toilet roll holders and towel rails. Presentation First impressions count! If your property is presented well, it will not only achieve a higher rent but will also attract a better tenant. It is important to ensure that the property is clean, that redecoration is carried out, carpets professionally cleaned when necessary, windows cleaned inside and out and the garden well tended. Mather Marshall Lettings can advise you on the level and type of furnishings, fittings, and appliances required and where redecoration or other improvements are required. Decoration When redecorating, choose neutral colours. Emulsion paint the walls rather than wallpaper as it is a lot cheaper, quicker and easier to redecorate when necessary. Carpets and curtains should ideally be neutral or muted colours and be able to withstand wear and tear. Furnished Lettings You may choose to let your property furnished. If so, you need to be aware of the following: All furnishings i.e. beds, upholstered chairs and sofas must comply with the furniture and furnishings (fire) (safety) Regulations Act Any furniture manufactured before 1988 will generally not comply. All bed linen, towels and ornaments should ideally be removed. If an electrical appliance such as a television, toaster, or washing machine breaks down, it is your responsibility to repair or replace it. Gardens Garden maintenance is normally made the tenants responsibility and most tenants are happy to maintain a small or medium sized garden. However, if your property has a large garden, we recommend that you employ a gardener to look after it during the tenancy with the cost of this being reflected in the rent. 6

7 attracting tenants Effective Marketing As soon as Mather Marshall Lettings receive your instructions to proceed, our team will commence the process of finding a suitable tenant. Prospective tenants that are registered on our extensive database will be contacted by phone, or text. A description, photographs and location map of the property will be distributed and added to our property list. It will also be added to our window displays. A selection of properties are displayed in the local press every week to ensure continued enquiries. Mather Marshall Lettings advertise proactively and will continue to do so until a suitable tenant has been secured. Mather Marshall Lettings invest heavily in press and internet advertising in order to generate constant enquiries from potential tenants. Our high profile, strong reputation and innovative marketing means we are hard for tenants to ignore! All this works towards getting your property let as quickly as possible. 7

8 selecting the right tenant There is always an element of risk with letting, but an experienced agent will know when to refuse an applicant. The most appropriate type of tenant will also depend on the type of property and your own specific circumstances. Mather Marshall Lettings will discuss your particular requirements in detail and will find the most suitable tenant for you. Different landlords make different stipulations regarding what they will and will not accept. Typical exclusions include pets and smokers, but remember the stricter you are, the more difficult it becomes to find a tenant. References and Financial Checks When a tenant has been found we carry out strict referencing procedures, using a specialist independent referencing company who demand the highest standards in the industry. This essential and detailed process gives us an understanding of their personal and financial circumstances in addition to previous agent/landlord/solicitor references. Specialist personnel are on hand to deal with applications from foreign nationals, overseas applications, limited companies and other firms ensuring nothing is left to chance. 8

9 setting up the tenancy Tenancy Agreement Once you are satisfied with the choice of tenant, on your instruction we will proceed with preparing the tenancy agreement. Mather Marshall Lettings use a comprehensive tenancy agreement which has been carefully designed to protect your rights to possession, to help control the tenant s activities, ensure that you have redress if your property is not looked after carefully. Tenancy agreements are normally for an initial term of six months or one year and usually thereafter continue on a month-to-month basis. However, shorter or longer term tenancies can be negotiated. The Housing Act 1988 (as amended by the Housing Act 1996) specifies the types of tenancy and whilst there are several types, it is almost certain that the tenancy of your property will be an Assured Shorthold Tenancy. Inventory/Schedule of Condition It is essential to have an independent inventory/schedule of condition prior to each tenancy and we will arrange this on your behalf for a development fee. At the end of a tenancy the property is inspected and any damage or deterioration to its condition is noted. The tenant is responsible for the cost of rectifying any damage, above what is considered to be fair wear and tear, caused by them at the property and this cost is deducted from the tenant s deposit along with the cost of the check out report. 9

10 property management Property Maintenance Our property managers deal with any maintenance issues on our Fully Managed properties, oversee any essential repairs and arrange payment to contractors. Our prime concern is to ensure that the property is maintained, on your behalf, to the same condition as that in which it was first let, allowing for fair wear and tear. When appropriate, we will advise you of any improvements that may be needed. Unless you have preferred contractors, Mather Marshall Lettings will use one of a group of contractors who have proved their reliability and good workmanship. Accounting Mather Marshall Lettings have a dedicated accounts department to ensure that rent is paid on the due date and passed on to you as quickly as possible. They prepare statements of rental income and expenditure every month to ensure that you have full information for yourself and for your Tax Return. The tenant pays rent into the Mather Marshall Lettings account and this is then transferred into your account each month. Interim Inspections We carry out a routine visit of the property during the term of the tenancy on all our Fully Managed properties. Extending or Terminating the Tenancy Many tenants extend their tenancy and in some cases for several years. If no notice is served on the tenant, the tenancy automatically continues on a statutory periodic basis. The landlord can terminate the tenancy at the end of the initial tenancy period or at any time thereafter by giving the tenant a minimum of two months notice on the rental due date. The tenant can either leave on the last day of the initial tenancy period, or can give one month s notice at any time thereafter. 10

11 safety regulations The following information is intended only as a guide for landlords and should in no way constitute a detailed interpretation of the complete Regulations. Whilst the Regulations might appear onerous, they are designed to ensure the safety of the property and tenants. Landlords should note that the maximum penalty for non-compliance with these Regulations is a fine of 5,000 or 6 months imprisonment. Breach of this regulation can result in heavy fines or even imprisonment so tenants are not allowed to occupy a property without a certificate. Landlords are also responsible for ensuring that either the operating instructions are shown on the appliance or that an instruction booklet is supplied. Gas Safety (Installation and Use) Regulations 1998 These cover all gas appliances, flues, meters and associated pipe work and require landlords to arrange an inspection carried out by a Gas Safe registered plumber to check all gas installations. Once the plumber is satisfied that the installations fulfill all requirements, a Gas Safety Certificate will be issued, a copy of which must be held by the agent and given to the tenant before they move in. This certificate must be renewed once a year. 11

12 Choose Mather Marshall as your Lettings Agent... and here s our promise to you: We will treat your property as if it was our own we care about it as much as you do. We believe in building long term, strong, personal relationships with our Clients, many of whom have been with us for 20 years. We will provide you with highly accurate valuations, combining our years of knowledge, experience and developing market trends. Our teams are supported by state-ofthe-art technology, enabling them to give you instant answers to any queries. We gain more new landlords and tenants through recommendation due to our longstanding reputation. We only accept quality tenants due to our thorough reference checks, to provide you with peace of mind. We will always be proactive on your behalf, to embrace, or interpret new legislation or initiatives, so you re kept one step ahead of the game. We only employ the best, with a core of long serving career oriented and professional staff, who are here to help you at all times. We are members of Property Ombudsman who are a governing body for agents. We provide a dedicated property management team, who ve built strong relationships with referenced local tradesmen, improving response times when you need them. You ll get the best value for money with our fee structure, covering Letting Only, through to Full Property Management to suit your lifestyle and needs. And we re here when you need us. Our reputation and experience speaks for itself. You can trust Mather Marshall Lettings for complete peace of mind. Tel:

13 PROPERTY MANAGEMENT AGENCY AGREEMENT This Agreement is made between the Landlord of the Property (as named at the end of this agreement) and Mather Marshall Lettings Agents acting as Agent for the Landlord and hereinafter referred to as The Agent. The purpose of this document is to set out clearly and concisely the extent of the letting and management service offered and the scale of the fees charged. STANDARD MANAGEMENT SERVICE Mather Marshall Lettings Agents provide a property management service to owners (and superior Landlords) wishing to let out their property. The standard fee for management is taken as a percentage of the gross rents due for the period of the tenancy. No set up fee will be payable. MATHER MARSHALL STANDARD MANAGEMENT SERVICE INCLUDES: Advising as to the likely achievable rent level. Advertising and marketing the property. Interviewing prospective tenants and taking up full references via an Independent reference agency. This would include a full credit search, and employment check and an affordability check. If necessary a previous Landlord reference would also be taken. Where it thought necessary, additional security will be requested by means of a guarantor. In the case of a company, full referencing will also be taken. Preparing the Tenancy Agreement and corresponding Notice s necessary for the Landlord to gain protection under the relevant Rent and Housing Acts, renewing the Agreement where necessary at the end of the term. The Agent will before the beginning of each tenancy undertake to carry out a detailed Inventory together with a schedule of condition. The Agent will advise the utility and service companies of meter readings where possible and for the transfer of each service to the tenant at the beginning of each tenancy. Collecting the rent monthly and paying over to the Landlord once funds are cleared, less any fees or expenses due or incurred for the current or prior rental period. Payments will be made by Internet 13

14 banking transfer or cheque as preferred. A detailed rent statement will be sent to the Landlords home/office address. Should duplicate statements be required there will be a charge for this service. Taking a dilapidations deposit from the tenant which will be forwarded to The Deposit Protection Service (DPS) in line with the current government guidelines and will be held until the end of the tenancy when the Agent will check the property condition and the Inventory to assess any unfair wear and tear. The Agent will carry out regular inspections of the Property and thereafter provide the Landlord with a report. Responsibility for and management of empty property is not normally included and will ONLY be carried out by special arrangement. Co-ordination of repair and maintenance including arranging for tradesmen to attend the property and obtaining prior estimates where necessary, supervising works and settling account from rents received. Carrying out a full property inspection and inventory and report check at the end of the tenancy. Dealing with matters relating to dilapidations before releasing the tenants deposit. Although the aim is to take every care in managing the property, Mather Marshall Lettings Agents cannot accept responsibility for non payment of rent or other defaults by tenants, or any associated legal costs incurred in their collection. An insurance policy is recommended to safeguard against this eventuality. A personal quotation is available upon request should you require this. SCALE OF LANDLORD FEES Standard Full Management Fee of each months rent received plus VAT to include a rent guarantee policy INTRODUCTORY ONLY SERVICE Where the Landlord does not wish the Agent to undertake full management, the Agent can provide an Introduction Only Service. This Letting Service includes only the first four items of the Standard Management Service (excluding renewal of the contract upon expiry. A new contract can be drawn up at an additional cost) as listed on page 1. This fee for the Introduction Only Service is 75% of the first months rent plus VAT. (Subject to a minimum 250 plus VAT). This would be deducted from the initial rent received. The remainder would be forward to the Landlord together with the Dilapidations deposit. The Landlord must make provision for the deposit to be protected in line with current government guidelines. If the tenant leaves prior to the end of term of the Tenancy, the Landlord shall not be entitled to reimbursement of any fees paid. CHARGES The Agent reserves the right to change fees and charges by written notification. 14

15 OVERSEAS RESIDENTS When letting property and collecting rents for Landlords overseas, the Agent is obliged by the Taxes Management Act (TMA) 1970 (or under similar powers of any future tax legislation ) to deduct monies (currently equivalent to 24% of the gross rents) to cover any tax liability. A form NRLI can be obtained from the Inland Revenue and subsequently approval can be made for the Agent not to withhold tax on the Landlords behalf. In this situation, the Agent requests that the Landlord appoints an accountant with the right to manage correspondence with the Inland Revenue. In many cases, a Landlords tax liability can be much reduced by the deduction of allowable costs. LETTING AGREEMENT The Standard Management Service includes the preparation of a letting agreement in the Agent s standard form (s) and provision of a copy of this agreement to a designated advisor or building society. Should the Landlord or his advisors or mortgages require amendment of the contract or require the Agent to enter into further work or correspondence, a further fee may be requested. It is agreed that the Agent may sign the tenancy agreement(s) on behalf of the Landlord. The standard agreement will be for six months including provision to continue after the six month by way of the tenant giving one months notice of vacating (earliest date being from the 5th month of the tenancy), and the Landlord giving two months notice from a rent due date for vacant possession (earliest being from the 4th month of the tenancy). Landlords must ensure that if they require vacant possession they must give the Agent written instructions to give 2 months written notice, the earliest date being prior to the end of the 4th month of the tenancy. GENERAL AUTHORITY The Landlord confirms that he/she is the sole or joint owner of the Property and that he has the right to rent out the property under the terms of the mortgage and/or the head lease. Where necessary the Landlord confirms that permission to re-let has been granted by the mortgagee. The Landlord authorises the Agent to carry out various duties of property management described in the section above entitled Mather Marshall Standard Management Service. The Landlord also agrees that the Agent may earn, from time to time, commission on insurance policies issued, and interest from deposit monies held. INDEMNITY The Landlord agrees to indemnify the Agent against any costs, expenses of liabilities incurred or imposed on the Agent provided that they were incurred on behalf of the Landlord in pursuit of the Agents normal duties. To assist the Agent in carrying out his duties effectively, the Landlord agrees to respond promptly with instructions where necessary to any correspondence or requests from the Agent. 15

16 NAEA BONDING SCHEME Staff regularly attend both ARLA and NAEA courses to keep updated with property law with particular reference to any changes in the Housing Act. Mather Marshall Lettings Agents is a participating member of the NAEA Client Money protection scheme in respect of Lettings and Management. This scheme provides Insurance to a total value of 10,000 per claimant in certain circumstances where loss occurs from the fraudulent or dishonest act of the participating members firms. SAFETY REGULATIONS The letting of property is now closely regulated with respect to consumer safety. The law makes particular demands regarding safety, servicing and inspection of the gas and electrical appliances and installations within a property, and with respect to the type of any furniture and soft furnishings that are provided. The following regulations apply: Furniture and Furnishings (Fire) (Safety) Regulations Gas Safety (Installations and Use) Regulations Electrical Equipment (Safety) Regulations 1994 The Landlord confirms that he/she is aware of these obligations and that the Agent has provided sufficient information (via explanatory leaflets available on request) to assist with compliance. It is agreed that the Landlord shall ensure that the property is made available for letting in a safe condition and in compliance with above regulations. The Landlord agrees to indemnify the Agent against any expenses or penalties that may be suffered as a result of non- compliance of the above regulations. The Agent requires to hold a current Gas Safety Certificate which is either provided by the Landlord, or alternatively the Agent will arrange for a Gas Safe registered engineer to undertake the necessary safety inspection and provide a new certificate. Unlike the Gas Safety Certificate at present there is no statutory obligation on landlords or agents to have professional checks carried out on the electrical system or appliances. However, under the Electrical Equipment (Safety) Regulations 1994 there is an obligation to ensure that all electrical equipment is safe. We would strongly recommend that visual inspections are carried out on an annual basis and periodic checks are carried out by a qualified electrician. Smoke alarms must be provided by the Landlord and fitted to all floors. Also we would advise that a carbon monoxide detector is also provided for tenant safety. ENERGY PERFORMANCE CERTIFICATES As of the 1st October 2008, any new tenancy requires an Energy Performance Certificate (EPC). This is a mandatory requirement and once obtained is valid for 10 years. The Agent is required to hold a copy of the Energy Performance Certificate. Mather Marshall would be pleased to arrange this for an additional charge. 16

17 MAINTENANCE The Landlord warrants that the Property is made available in good and lettable condition and that the property, beds, sofas and all other soft furnishings all conform to the current fire safety regulations. The Landlord agrees to make the Agent aware of any outgoing maintenance problems. Subject to a maximum expenditure limit of 100 on any single item or repair, and any other requirements or limits specified by the Landlord, the Agent will administer any minor maintenance work that needs to be carried out on the property. It is agreed that in an emergency or for reasons of contractual necessity where reasonable endeavours have been made to contact the Landlord, the Agent may exceed the specified limit. The Agent endeavours to select competent tradesmen at a reasonable price but is unable to personally guarantee the standard of workmanship or accept any liability arising there from, although the Landlord retains the right to pursue any claim against appointed tradesmen for substandard work. By law it is necessary to carry out an annual inspection for the central heating and any gas appliances. The Agent will carry these out on the Landlord behalf and administer the necessary inspection and maintenance records, unless otherwise instructed. REPAIRS USE OF TRADESPEOPLE If the Landlord does not have preferred contractors the Agent can introduce tradesmen that have proved reliable to date. The Agent will immediately put emergency repairs in hand. Otherwise, the normal procedure will be for the Agent to obtain an estimate for the Landlord s consideration. For some major works the Agent may charge a supervision fee. If the Landlord has preferred contractors the Agent will need to see their certificate of public liability, and if a gas fitter, or electrician proof of the required regulatory qualification. The Agent will normally arrange for the accounts to be paid from the rents received. REPAIRS AND MAINTENANCE Landlords are reminded that they have statutory obligations to maintain their properties in good and tenantable order. Small works Not withstanding that the Agent will normally first consult or advise the Landlord regarding small works, i.e. those expected not to exceed the Landlord s maximum expenditure or limit. The Agent will appoint a contractor (unless otherwise instructed by the Landlord) to carry out the works and meet costs from the rent. Larger works a) Where these are for routine maintenance the agent shall first agree the expenditure with the Landlord, obtaining an estimate where required. However, where estimates including provisional costing are accepted (usually where some investigation is required by the contractor to determine the extent or nature of the work to be undertaken) and the contractor needs instructions to continue with the work in progress then the agent is authorised to agree a cost with the contractor. b) Where the works are of a major kind and could not fairly described as routine maintenance, the Agent reserves the right to charge for organising and overseeing the works. 17

18 Emergency works Where the property is found to be insecure or at risk of imminent or future damage and the agent considers that the works should be immediately put in hand (e.g. burst pipes) then the agent is authorised to proceed with such repairs and to meet the costs from the rents. As soon as practical afterwards the agent shall advise the Landlord of the event and likely cost. Initial repairs Where repairs are required before the tenancy can start or which are found to be required during the first month of tenancy and which the Agent arranges, the agent reserves the right to charge for organising and overseeing the works. Payment The agent will pay for any of the above-mentioned works by deduction from rents when the invoice is received. Indemnities The Landlord indemnifies the Agent against all demands by contractors for payment in respect of work or goods ordered on behalf of the Landlord and undertakes to put the Agent in funds or pay the contractor direct if: a) The contractor will not wait until rent is received b) The invoice amount exceeds the balance of one months rent c) Rent from the tenant is late or unpaid ADMINISTRATION/HOLDING FEES AND DEPOSITS An admin fee is generally taken from a tenant applying to rent a property. The purpose of this fee is to verify the tenant s serious intent to proceed and to protect the Agent against any administrative expenses incurred (referencing, conducting viewings, re-advertising) that may be incurred should the tenant decide to withdraw his application. The admin fee does not protect the Landlord against loss of rent due to the tenant deciding to withdraw, or references proving to be unsuitable and early acceptance of rent from the applicant would not be advisable until satisfactory references have been received. Upon signing the tenancy agreement, the Agent will take a dilapidations deposit from the tenant(s) in additional to one months rent in advance. The purpose of the dilapidations deposit from the tenant is to protect the Landlord against loss of rent or damage to the Property during the tenancy period. These deposits are held by the Agent as Stakeholders and will be kept in a separate and secure client account ready for refunding (less any charges due) at the end of the tenancy. COUNCIL TAX Payment of Council Tax will normally be the responsibility of the tenants in the Property. However, Landlords should be aware that where a property is empty, let as holiday accommodation or let as a house of multiple occupation (HMO) responsibility for payment of Council Tax then rests with the owner of the property. 18

19 SERVICES The Agent will take meter readings whenever possible at each change in occupation of the Property and if the Agent is supplied with the Utility suppliers they will inform the service companies (electricity, gas and water rates) of these readings and the change of occupation. It is the responsibility of the Landlord to provide details of all correct utility suppliers. In many cases, other service companies (e.g. BT) require that the new occupiers formally request and authorize their service and it is not possible for the Agent to do this on the tenants or Agents behalf. With regards to mail Landlords should take care to inform all parties (e.g. banks, clubs, societies etc) of their new address. It is not always possible to rely on tenants to forward mail. INVENTORY The Agent will prepare an Inventory for the Property. The standard inventory will include all removable items in the Property (except those of negligible value) plus carpets, curtains, mirrors, sanitary ware and other articles that, in the opinion of the Agent, need regular checking. Landlords should not leave any articles of exceptional or special value within the Property without prior arrangement with the Agent. It is the responsibility of the Landlord to ensure all fire regulation labels on soft furnishings are visible for the preparation of the inventory. Any items where the label is not visible will not comply and will have to be removed. KEYS The Landlord agrees to provide the agent with three sets of keys to the property. Two sets of keys will be given to the tenants upon moving in and one set will remain in the possession of the agent. INSPECTIONS Under the Standard Management Service, the Agent will normally carry out inspections starting on month 2. It is not the intention to check every item of the Inventory, the inspection is concerned with verifying the good order of the tenancy (ie the house being used in a tenant like manner) and the general condition of the Property. This would normally include inspecting the main items (carpets, walls, cooker, main living areas, sanitary ware and gardens). Where these were felt to be unsatisfactory, a more detailed inspection would generally be made. Following the departure of the tenants, a final inspection of the property is carried out by the Agent. Testing of all electrical appliances, heating system and plumbing is not feasible during this inspection. A qualified contractor should be appointed for this purpose should it be required by the Landlord. Any deficiencies or dilapidations would normally be advised to the Landlord together with any recommended deductions or replacement values. It is agreed that the Agents judgement will be final in this matter. Should it be necessary the case will be referred to arbitration with the Royal Institute of Chartered Surveyors, any costs being shared by the Landlord and tenant or as directed by the Arbitrator. 19

20 GARDENS The tenant will be liable to maintain the garden to an acceptable standard (lawns tendered and borders kept free from weeds). If the property has a mature garden that requires a conscientious level of maintenance the Agent recommends that a gardener be provided within the rent agreed. The agent cannot guarantee that tenants will be conscientious or capable gardeners and can only ensure that the lawns are maintained and borders kept free from weeds. TERMINATION This agreement may be terminated by either party by way of a three months written notice. The minimum fee is payable by the Landlord of plus VAT for early withdrawal. If the Landlord decides to continue letting to the tenants introduced by the agent after the termination of the agreement a fee of one months rent will be payable. The Landlord shall advise the Agent in writing of any requirement for return and repossession of the Property at the earliest opportunity. Landlords should be aware that any tenancy agreement entered into on the Landlord behalf is a binding legal agreement for the term agreed. Details of any tenancy agreement being entered into will be communicated to the Landlord as soon possible. Landlords should be aware that the legal minimum notice period to tenants under assured tenancies is generally two months from a rent due date (unless the contract allows for early termination) and this notice needs to be given even in the case of a fixed term tenancy which is due to expire. If the Landlord cancels If the Landlord cancels this agreement after references are taken on potential tenants and prior to a proposed tenancy starting the Landlord will be liable to pay the agent the administration fee charged to the tenant as compensation to the proposed tenant, and also any cost entered into for the production of an inventory. LEGAL PROCEEDINGS Any delays of payment or other defaults will be acted on by the Agent in the first instance. Where the Agent has been unsuccessful in these initial actions, or there are significant rent arrears or breaches of the tenancy agreement, the Landlord will be advised accordingly. A Solicitor would then be appointed and instructed by the Landlord (except where the Agent is unable to contact the Landlord). The Landlord is responsible for payment of all legal fees and any related costs. INSTRUCTIONS It is agreed that any instructions to the Agent from the Landlord regarding termination, proceedings, major repairs, payment details or other significant details regarding the letting be confirmed in writing. 20

21 BUILDING AND CONTENTS INSURANCE The Landlord shall be responsible for the property being adequately insured and that the insurance policy covers the situation where the property is tenanted. SALE OF THE PROPERTY In the event of the tenant purchasing the property from the Landlord following introduction by Mather Marshall then a fee of 1.5 % plus V.A.T shall be payable to Mather Marshall Letting Agents. 21

22 ACCEPTANCE AND VARIATION 2009 LANDLORDS COPY The terms The terms and conditions and conditions of this of Agreement this Agreement may may be varied be varied by the by the Agent Agent at any at any time time or times, or times, but but only only by prior by written prior notification. written notification. I/We I/We confirm confirm that that we have we have read read the the attached agreement and and wish the the Agent to undertake Standard Management Management Service Service at an at agreed an agreed fee of fee of of each of months each months rent plus rent VAT. plus VAT. This will This include will include the Rent the Guarantee Rent Guarantee policy. policy. Or Or I/We I/We confirm confirm that we that have we read have the read attached the attached agreement agreement and wish the and Agent wish to the undertake Agent to and undertake Introductory and Only Introductory service at an Only agreed service fee of at 75% an agreed of the fee first of months 75% of rent the first plus months VAT. This rent will plus not VAT. include This the will Rent not Guarantee include policy. the Rent Guarantee policy. I/We I/We also confirm also confirm that we that are we sole/joint are sole/joint owners owners of the of Property the Property known known as: as: Property Property to be let to be let: Signed Signed: Date (If property is jointly owned all parties should sign) Landlord s Full Date: Name(s)... (If property is jointly owned all parties should sign) Signed on behalf of the Agent... Date... Landlord s Full Name(s): (For MATHER MARSHALL LETTING AGENTS) Signed on behalf of the Agent: MATHER MARSHALL LETTING AGENTS (For MATHER MARSHALL LETTING AGENTS) 129A HIGH STREET STEVENAGE MATHER MARSHALL LETTING AGENTS HERTS 129A HIGH STREET, STEVENAGE, HERTS, SG1 3HS SG1 Tel 3HS(01438) Tel (01438) Fax (01438) Fax (01438)

23 ACCEPTANCE AND VARIATION 2009 AGENTS COPY The terms The terms and conditions and conditions of this of Agreement this Agreement may may be varied be varied by the by Agent the Agent at any at any time time or times, or times, but but only only by prior by written prior notification. written notification. I/We I/We confirm confirm that that we have we have read read the the attached agreement and and wish the the Agent to undertake Standard Management Management Service Service at an at agreed an agreed fee of fee 12 of % of each of months each months rent plus rent VAT. plus VAT. This will This include will include the Rent the Guarantee Rent Guarantee policy. policy. Or Or I/We I/We confirm confirm that we that have we read have the read attached the attached agreement agreement and wish the and Agent wish to the undertake Agent to and undertake Introductory and Only Introductory service at an Only agreed service fee of at 75% an agreed of the fee first of months 75% of rent the plus first months VAT. This rent will plus not VAT. include This the will Rent not Guarantee include policy. the Rent Guarantee policy. I/We I/We also confirm also confirm that we that are we sole/joint are sole/joint owners owners of the of Property the Property known known as: as: Property Property to be let to be let: Signed Signed: Date (If property is jointly owned all parties should sign) Landlord s Full Date: Name(s)... (If property is jointly owned all parties should sign) Signed on behalf of the Agent... Date... Landlord s Full Name(s): (For MATHER MARSHALL LETTING AGENTS) Signed on behalf of the Agent: MATHER MARSHALL LETTING AGENTS (For MATHER MARSHALL LETTING AGENTS) 129A HIGH STREET STEVENAGE MATHER MARSHALL LETTING AGENTS HERTS 129A HIGH STREET, STEVENAGE, HERTS, SG1 3HS SG1 3HS Tel (01438) Tel (01438) Fax (01438) Fax (01438)

24 LANDLORD INFORMATION QUESTIONNAIRE Please complete and return to Mather Marshall Letting Agents at 129A High Street, Stevenage Old Town, Hertfordshire, SG1 3HS. LANDLORD DETAILS: NAME: ADDRESS: TELEPHONE NUMBERS: WORK: HOME: MOBILE: ADDRESS: If you are a Landlord based overseas, then please give the name and contact number of a contact in the UK: NAME CONTACT NUMBER: BANK ACCOUNT DETAILS: NAME OF BANK: ADDRESS: BANK ACCOUNT NUMBER: SORT CODE:

25 LANDLORD INSURANCE QUESTIONNAIRE As a responsible Managing Agent it is our duty to ensure that you are adequately protected and covered for the purpose of letting. It is therefore essential that you complete the details below prior to the renewal of your contract. 1. I confirm that I have buildings and/or contents insurance with the appropriate let property cost and cover as follows: Buildings Name of Insurer Policy Number Rebuild value Renewal date: Contents Name of Insurer Policy Number Rebuild value Renewal date: 2. I wish to take out IMMEDIATE COVER for buildings and/or contents as follows: Buildings (rebuild value) Contents (minimum 10,000 for comprehensive cover) OR Limited contents cover for 5,000 If you do not wish to receive a personalised insurance quote 45 days before renewal then please tick the box. Please note that if you have agreed to receive a quotation your information will be passed to HomeLet our preferred insurance provider who will contact you with the quotation information.

26 UTILITY SUPPLIERS: Please provide your supplier name, account number and telephone contact number. Without these we will not be able to contact the suppliers on your behalf GAS WATER: ELECTRIC IS THIS A CARD METER PROPERTY? COUNCIL TAX COUNCIL TAX BANDING ARE YOU LETTING YOUR PROPERTY THROUGH ANOTHER AGENT? Please give details: ADDITIONAL INFORMATION: We would strongly recommend that you attach copies of any other appropriate information, e.g. maintenance agreements, warranty s which are still valid, buildings and contents insurance etc., to this document or give the information below:.

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28 HATFIELD TOWN CENTRE HATFIELD GALLERIA 27 Market Place Hatfield Hertfordshire AL10 0LJ Sales: Tel: Fax: Lettings: Tel: Fax: Harpsfield Broadway, Comet Way Hatfield Hertfordshire AL10 9TF Sales: Tel: Fax: Lettings: Tel: Fax: VILLAGE HOMES STEVENAGE 132 London Road Knebworth Village Hertfordshire SG3 6EY Sales & Lettings: Tel: Fax: a High Street Stevenage Hertfordshire SG1 3HS Sales: Tel: Fax: Lettings: Tel: Fax: