Lettings Terms Of Business

COAST TO CASTLE PROPERTY SERVICES TERMS OF BUSINESS - LANDLORD

 


Authorisation of Instruction

  1. 1.1  I / We as sole / joint legal owners(s) of the above stated property hereby appoint Coast To Castle Property Services to act as our Agents in connection with the letting of the Property and in accordance with the terms and conditions herein.

  2. 1.2  The property shall be initially advertised at a calendar month rental figure of

    £___________________.

  3. 1.3  I / We hereby confirm instructions for the Agent to provide the TENANT INTRODUCTION ONLY service level.

  4. 1.4  I / We agree to the Agent’s charges, as specified in the schedule attached, and accept that in the event of our withdrawing instructions after the date of signature below, I / We may be liable to pay the Agent a fixed fee of £150 for expenses incurred (plus VAT where applicable) if terms have been agreed for a tenancy of the property but the tenancy has not yet been executed. We agree that the Agent may review and amend the quoted fees during the course of the tenancy by giving not less than 3 months’ notice in writing of the intention to do so to be concurrent with the end of the tenancy dates.

  5. 1.5  I / We authorise the Agent to photograph, advertise and erect a To Let Board at the Property and hereby grant consent for the Agent to use this material for subsequent marketing purposes.

  6. 1.6  I / We agree that I /We will be responsible for obtaining permission to let the Property from my / our mortgage lender; I / We will also advise our insurers of our intention to let and, where applicable, the managing agents of the freehold if the Property is held leasehold I/We agree to provide a copy of the head lease to the Agent prior to the letting of the Property

  7. 1.7  I / We agree to arrange for all utility meters to be read and to settle all utility and council tax accounts. I / We shall arrange for all post to be forwarded to an alternative address and agree that if the Agent incurs additional costs as a
    result of our failure to comply with this undertaking we shall be liable for these costs which shall be invoiced to us on a time basis.

  1. 1.8  I / We authorise the Agent to sign any tenancy agreement relevant to the Property on the landlords behalf when necessary.

  2. 1.9  I / We confirm that we areRESIDENT / NON-RESIDENT

    in the United Kingdom for tax purposes. [delete as applicable] In the case of the latter I/We undertake to obtain a non-resident landlord form (NRL1) from HM Revenue and Customs and return it to them fully completed.

 

Definitions

In these Terms and Conditions of Business the following expressions have the corresponding meanings:-

The “Tenant” is the named Tenant, or Tenants, on the Tenancy Agreement of the Property who remain in occupation of the property.

The “Tenancy” shall be read and construed accordingly and includes renewals or tenancy extensions.

The “Rent” is the rental amount specified in the Tenancy Agreement.

The “Deposit” is the sum paid to the landlord by the Tenant as security for the performance of their obligations as defined in the tenancy agreement. The deposit shall be no more than 5 weeks.

 

The Landlord’s Obligations

3.1  The Landlord shall protect the deposit in accordance with the requirements of the Housing Act 2004 by use of an authorised deposit scheme (DPS, TDS or My | Deposits) within 30 days of receipt, and deductions from, and repayments of the deposit will be dealt with in accordance with the rules of the scheme. As required by the Housing Act 2004, the Landlord will provide the Tenant with information about the scheme used within 14 days of receipt of the deposit.

3.2  The landlord shall provide details of nominated bank account to the Tenant for payment of Rent payments.

3.3  The Landlord hereby warrants to the Agent that all furniture and furnishings in the Property fully comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1988, as amended. The Landlord agrees that any non-compliant furniture or furnishing items will be removed from the Property prior to the commencement of the Tenancy. The Landlord accepts that should such items not be removed, the Agent reserves the right to arrange their disposal and recover the cost thereof from the Landlord.

3.4  Where there is a gas supply to the property, the Landlord hereby agrees to provide the Agent with a Gas Safety Record in accordance with the Gas Safety (Installation and Use) Regulations 1998. Such Record must confirm that all gas appliances, flue and pipe work have been checked by a qualified GAS SAFE registered engineer. The Landlord agrees to provide the Agent with a Gas Safety Record a minimum of 5 days prior to the commencement of the Tenancy and accepts that should such Gas Safety Record not be delivered to the Agent, the Agent reserves the right to instruct a qualified GAS SAFE registered engineer to carry out the Gas Safety Check at the Landlord’s expense. The Agent will present such Records to the Tenants at the commencement of the tenancy.

3.5  The Landlord hereby warrants to the Agent that all electrical appliances have beenPortable Appliance Tested (PAT) and all electrical wiring, plugs, sockets and fuse boxes/consumer units in or on the Property are in safe, working order and have been checked by a qualified electrical engineer and comply with the Electrical Equipment (Safety) Regulations 1994.

3.6  The Landlord hereby agrees to provide the Agent with a valid Energy Performance Certificate (EPC). The EPC needs to be in place prior to the commencement of marketing the property. The Landlord accepts that should the EPC not be provided to the Agent, the property cannot be marketed, and this is in accordance with government legislation. The Agent will include the EPC on property details which are available to persons viewing the property, and reserves the right to charge an administration fee for arranging the EPC in the event of the Landlord failing to provide one

3.7  In order to comply with the Taxes Management Act 1970 and Finance Acts 1994-95 the Landlord undertakes to notify HMRC of the Tenancy. The Landlord accepts that:-

3.7.i The Agent is legally obliged to supply HMRC, on request, with the details of rent and other payments arising from the Property and that where the Landlord resides abroad, HMRC will hold the Agent responsible for the payment of any tax liability which arises on rents collected by the Agent on the Landlord’s behalf, unless an exemption certificate is provided by the HMRC in accordance with the Finance Act 1995.

The Landlord indemnifies the Agent against all payment of tax, interest thereon or penalties levied on or made by the Agent and the costs of dealing with any case issued by HMRC. The Landlord agrees to pay the Agent any shortfall of such monies together with interest at 3% above Bank Of England base rate in force on a daily basis from the due date of payment by the Agent until reimbursement is fully made.

3.8  Sale of the Property to a Tenant or third party - Where a Tenant or any Third Party introduced to the Landlord by the Tenant or the Agent purchases the Property, whether currently occupied (or previously occupied) by the Tenant, or within 6 months of the expiry of the Tenancy, the Landlord undertakes to inform the Agent immediately and pay a fee to the Agent of £500 (plus of VAT when applicable) to be invoiced by the Agent to the Landlord’s solicitor/conveyancer and payable out of the sale proceeds in full within one month of invoice date.

3.9  The Landlord agrees to respond promptly to requests for instructions and correspondence from the Agent with regards to the rental property and will supply an alternative contact and details if necessary due to them being unavailable for a prolonged period.

3.10  The Landlord indemnifies the Agent from and against any and all loss, damage or liability (Whether Criminal or Civil suffered) and legal fees and costs incurred by the Agent in the course of conducting the services detailed in these Terms and Conditions and resulting from:

i) Any acts of neglect or default of the Landlord, their employees or licensees.

ii) Any successful third party claim in respect of any matter arising from the Agent conducting the services detailed in these Terms and Condition provided that such liability has not been incurred through any material default by the Agent in carrying out the said services.

3.11  The Landlord confirms that the property is safe with regards to precautions taken to control Legionnaires Bacteria in water systems. The Landlord confirms that all water

outlets have been tested and meet the legal requirements as stated by the Health and Safety Executive.

 

Payment of Fees

4.1  The Landlord/s shall be liable to pay the Agent’s fee set out in the Schedule hereto.

4.2  Value Added Tax will be charged in addition to all fees and commissions when applicable.

4.3  The Landlord shall be liable to pay the Agent’s fee before or on “Tenant Check In date” and is in respect of the entire tenancy period during which the Tenant introduced by the Agent is in occupation of the Property or any other premises owned by the Landlord.

4.4  Any outstanding balance on fees not covered by initial fee shall be invoiced by the Agent to the Landlord and payable within 30 days of invoice date.

4.5  The Agent reserves the right to charge for additional or special services which are required by a Landlord which fall outside of the normal service levels agreed. These may include unoccupied supervisory visits, sourcing specialist consultancy services or quotes/reports and are subject to individual negotiations between the Agent and the Landlord/s.

4.6  Upon any extension of a tenancy, an administration renewal fee of £75 (inclusive of VAT) will be payable by the Landlord to the Agent.

4.7  Where the Agent is required to instruct a qualified GAS SAFE registered Contractor to provide a Gas Safety Record, the Landlord will pay the costs of the works in advance to the Agent.

4.8  The Agent reserves the right to charge an appropriate additional amount for the inventory of excessively furnished and equipped properties.

4.9  The Agent reserves the right to charge an appropriate amount for other services including the re-direction of post, overseas telephone calls, the supervision of any major building or decorative works, processing insurance claims and management agreed with the Landlord when the Property is unoccupied

4.10  No monies will be received by the Agent in respect of both the Deposit and Rent from the Tenant.

4.11  The Landlord agrees to undertake proper course of action to ensure that deposit is protected by authorised scheme and agrees that the Agent is not responsible for deposit registration.

4.12  Where terms have been agreed by the Agent between the Landlord and a prospective tenant for the letting of the property and the Landlord does not proceed with completing the tenancy, he may be liable for administration costs incurred by the prospective tenant and also any additional administration fees charged by the Agent.

 

Agent’s Obligations

5.1 At all times to provide the services detailed in the Schedule hereto.

 

Indemnity and Incorrect Information

6.1  Under the terms of the Introduction Only Service with the definitions in the Schedule, the Agent shall take no steps to collect the rent due under the Tenancy and shall not be liable for any rent which the Tenant fails to pay. The Agent shall not be liable for any other payments in respect of the Property or contents and nothing shall render the Agent or its employees responsible for any loss or damage to the Property and contents howsoever caused. The Landlord fully indemnifies the Agent against any failure of the Landlord to comply with the Terms and Conditions of the Tenancy Agreement, statutory obligations or regulations.

6.2  The Landlord warrants that all the information he/she has provided to the Agent is correct to the best of his/her knowledge and belief. In the event that the Landlord provides incorrect information to the Agent which causes the Agent to suffer loss or causes legal proceedings to be taken the Landlord agrees to reimburse and compensate the Agent for all losses suffered.

 

Miscellaneous Terms and complaints handling procedure

7.1  All fees for the Agent are due prior to marketing, or within one month of invoice date as per individual agreement.

7.2  The Agent reserves the right to charge the Landlord interest at the rate of 3% above the Bank Of England Base Rate in respect of accounts not paid within one month.

7.3  If the Landlord has a complaint about an invoice or any other aspect of the Agent’s service, the Landlord must follow the Agent’s standard complaints handling procedure, a copy of which can be forwarded to the Landlord on request. Any complaint or query about an invoice must be submitted to the Agent within one month of invoice date or the right to complain is forfeited.

7.4  The Landlord hereby acknowledges that:-

i) The Agent is obliged to include the Landlord’s full name and address on the tenancy agreement in accordance with the requirements of the Landlord and Tenant Act 1987

ii) The tenant must be provided with the address in England or Wales to which notices may be served to the Landlord. Unless otherwise instructed the Agent will provide their own address for this purpose.

iii) Although the Agent will use their best endeavour to forward any notices to the Landlord promptly, the Landlord will not hold the Agent liable for any loss or damage incurred either directly or indirectly from their action in this respect other than arising from fraud or negligence.

 

Cooling Off Period

 

8.1  You have the right to cancel this contract within 14 days without giving any reason.

8.2  The cancellation period will expire after 14 days from the day this contract was agreed. To exercise the right to cancel, you must inform The Agent of your decision to cancel this contract by sending us a clear statement in writing to Coast To Castle Property Services, 9 York Avenue, East Cowes, Isle of Wight. PO32 6QY or emailing us at sales@coasttocastle.com. To meet the cancellation deadline, it is sufficient for The Seller to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.

 

Final Agreement

9.1  I / We confirm that we unconditionally accept the Terms and Conditions of Business herein in their entirety and instruct the Agent to provide the Introduction Only service.

9.2  I / We expressly confirm that we have read, understood and signed the Schedule of Service herein and agree to pay the required fees.

SCHEDULE OF SERVICE - Tenant Introduction Only

Services provided by the Agent

1. Carry out initial market appraisal, provide a realistic market rental value of the Property, suggest where appropriate improvements to the Property to optimise this and advise on relevant safety regulations
2. Advertise and promote the property, erect a To Let board
3. Interview prospective tenants and arrange viewings with all suitable applicants
4. Obtain satisfactory references on Tenants and any Guarantors
5. Prepare and execute the Tenancy Agreement.
6. Tenant Check In
7. Smoke Alarm and CO2 compliance checks.

 

Fees payable to the Agent for our ‘Tenant Introduction Service’

 

A fee of £350 plus VAT when applicable.

*In addition to the above there may be a ‘Set Up’ charge, which may include but is not exclusive to; compilation of the inventory, EPC, Legionella Assessment, Gas Safety Check, fixed wiring tests, PAT tests and tenant check out, where requested. These charges are subject to VAT where applicable.

 

GENERAL INFORMATION FOR LANDLORDS (NOT FORMING PART OF THIS AGREEMENT)

1 Although the Agent’s documents are reviewed and updated regularly by their appointed advisors, the Agent is not a firm of solicitors and cannot advise on legal technicalities. The Landlord should consult their own solicitor if they require further information about their rights and obligations as a Landlord.

2 The Agent is legally obliged to inform the Landlord that the Agent may offer the following services to potential tenants and purchasers of the property:- Estate Agency Services: Credit Brokerage (Within the meaning of the consumer credit act 1974) in particular the arrangement of mortgages, advice on and sale of investment (as defined in financial services act 1986), arrangements for property contents general insurance, surveys, valuation services and alternative providers of utility services.

4 The Agent will have adequate professional indemnity insurance.

5 The Agent may provide the landlord with specialist contact details for ‘Legal Cover and Rent Protection’, ‘Buildings and Contents Insurance’ policies and any other services which may be of interest to the landlord/s.

6 Coast To Castle Property Services whose registered address is 9 York Avenue, East Cowes, Isle of Wight, PO32 6QY, is an Introducer Only agent for ZeroDeposit.com who are authorised and regulated by the Financial Conduct Authority.

Zero Deposit Guarantee

Coast To Castle Property Services use Global Property Ventures Limited t/a Zero Deposit to provide a Deposit replacement product (Zero Deposit Guarantee). Global Property Ventures is authorised and regulated by the Financial Conduct Authority (reference number 797026). Zero Deposit’s privacy policy can be found at www.zerodeposit.com. In the event you do not wish to accept potential tenants using the Zero Deposit Guarantee please advise of this decision prior to marketing your property for let.

Where, following an introduction by Coast To Castle Property Services, the tenant purchases a Zero Deposit Guarantee from Zero Deposit and the Tenant maintains the ZDG throughout the rental period in substitution of the Cash Deposit referred to in clause 3.1.

Please indicate if you are happy to offer Tenants a Zero Deposit Option [ ]

Coast To Castle Property Services shall be entitled to receive a commission payable by ZD. The Landlord accepts that the ZDG will be subject to the ZDG documentation, which will be provided to the Landlord by ZD and is also available by contacting help@zerodeposit.com; and Coast To Castle Property Services shall as soon as reasonably practicable inform the Landlord in the event the ZDG is cancelled, in which case Landlord shall, collect the Cash Deposit from the Tenant.

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01983 200 007

9 York Avenue

East Cowes

Isle of Wight

PO32 6QY

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