Terms of business
Sales
Agency terms in accordance with The Estate Agents Act 1979
You are hereby instructing us: Home & Finance, to act as your agent for a
minimum period of 16 weeks from the date of you giving
instructions. This agreement may be terminated at the end of the
minimum period by us receiving from you a 14 days written
notice. If no notice is received by us from you the agreement
will continue after the minimum period of 16 weeks until a 14
days’ written notice is received by us from you to terminate the
agreement. You agree not to appoint any other agents or persons
during the period of our agency agreement for the provision of
estate agency services. We are a registered member of The
Property Ombudsman – more details of the scheme can be found at
www.tpos.co.uk
Liability
to Pay our Commission
In consideration of our efforts to market your property, you will be
liable to pay our commission and any other agreed charges or
costs if contracts for the sale of the property are exchanged in
the period of our agency agreement to a purchaser introduced by
us, or by another agent or by any other person, including
yourself; where contracts for the sale of the property are
exchanged after the period of our agency agreement but to a
purchaser introduced by us during the period of our agency
agreement.
For the avoidance of any doubt, the phrase introduced by us where used in
these Terms shall refer to:
i)any person or entity who has become aware of the relevant property as a
result of any action taken by us, whether directly or
indirectly. Such actions may include, without limitation:
- the erection of any sign board;
- the preparation or distribution and display of particulars;
- the publication of information about the property in any newspaper, on
the internet (whether on our website or through any other
website or portal and whether such site or portal is associated
with our site or company or not) or in or through any other
medium; and/or
- any communications or correspondence (oral, written or electronic
between any person representing us or instructed by us and any
other person or entity; or
ii) any person or entity with whom we have had negotiations or
discussions about the property; even if such awareness or
negotiations or discussions did not cause the exchange of
contracts or purchase.
Method of
Payment
Energy Performance Certificates (EPC) are a legal requirement and must be
available to us prior to marketing, if an EPC is not in place,
we can provide this at a cost of £90 including VAT, floorplans
are also available at a cost of £55 including VAT. This
must be requested prior to marketing.
Our commission is payable either on completion of the sale or, where a
purchaser exchanges contracts but fails to complete the
purchase, we shall be paid our commission and any other agreed
costs or charges (if possible, from the deposit monies) within 7
days of the contracted completion date. If we find it necessary
to use solicitors or other parties or institute legal
proceedings to recover or release monies due, you agree to pay
all costs so incurred.
Sale Boards
Unless you instruct us to the contrary, we will erect our "For Sale"
board at the property. The Town & Country Planning (Control of
Advertisements) (England) Regulations 2007 permit the display of
only one sale board.
Sales
Particulars
We must ensure that all publications representing the property are
accurate and do not mislead. You therefore agree to inform us
immediately if any of our sales particulars, etc. do not conform
in this respect, so that we may comply fully with the Consumer
Protection Regulations 2008.
Personal
Interest
The Estate Agents Act 1979 requires us to disclose to any prospective
buyer any business or family relationship which you may have
with the agent, its employee of the agent or any associated
company. You must indicate below whether you are aware of any
such relationship or association.
Yes/No
Name of employee -
Relationship or association -
Services to prospective purchasers
We may offer the following services to prospective purchasers and,
similarly, our services may be offered to them by another
organisation in circumstances where we may financially benefit;
a) Valuation/Survey & Estate Agency Services
b) Provision of Financial Services including mortgages and insurances.
Unoccupied
Premises
We accept no liability or responsibility for the maintenance or repair
of, or for any damage to, the property at any time. If the
property is vacant when adverse weather conditions are likely,
frost damage may occur to water and heating systems and sanitary
appliances. We recommend you take all necessary action to
protect your property from such risks and to ensure that the
property has adequate insurance cover.
a) these Terms contain all the agreements and understandings between us
relating to your property and replace any previous such
agreement between us;
b) in accepting these Terms, you are not relying on any undertaking,
promise, assurance, statement, representation, warranty or
understanding (whether in writing or not) of any person relating
to your property; and
c) these Terms can only be varied with your and our express agreement
which we will put in writing.
If a court decides or the law declares that any part of these Terms may
not apply or are invalid the Terms shall continue to apply but
as if the invalid or inapplicable part had been deleted from
this copy of them.
Money
Laundering Act
We are required under the Money Laundering Regulations 2017 to identify
you and to verify your identity on the basis of documents
evidencing your identity and proof of address. This requirement
is absolute. We will ask you for a copy of your passport or
similar photographic evidence and a copy of a utility bill or
bank statement indicating your current address and which is not
more than three months old.
Under the Proceeds of Crime Act 2002 and/or the Money Laundering
Regulations 2017 we may be required to make a disclosure for the
appropriate government department and may be unable to advise
you immediately of such disclosure subject to compliance with
such regulations at all times. By agreeing to these Terms, you
agree to us taking such steps as it is required to do in order
to comply with such regulations.
Limitation
of Liability and Indemnity
Nothing in these Terms and Conditions shall exclude or limit the
liability of the Agent for death or personal injury, fraud or
fraudulent misrepresentation, however the Agent shall not be
liable for any direct, indirect or consequential loss or damage
suffered by the Client or any third party howsoever caused, as a
result of any negligence, breach of contract or otherwise in
excess of the sum insured for each claim under the professional
indemnity insurance policy held by the Agent in the insurance
year in which the Client’s claim is first notified. Details of
such indemnity insurance policy can be made available to the
Client by the Agent upon written request.
The Client shall indemnify the Agent against all claims, costs and
expenses which the Agent may incur and which arise directly or
indirectly from the Client’s breach of any of its obligations
under these Terms and Conditions.
Cancellation of Contract
You may cancel our instructions at the end of the minimum period or after
the minimum period by serving on us 14 days’ written notice but
we shall remain entitled to our commission and to any other
agreed charges or costs as described in these Terms, or
If you entered into this agreement otherwise than
whilst attending our business premises, you have the right to
cancel this agreement within 14 calendar days (‘the cancellation
period’) from the day of this agreement the by giving us a
notice in writing. If you have requested us to commence
providing services, including advertising, set out in this
agreement within the cancellation period
Lettings
Fees
Tenants fees:
The tenant is responsible for ensuring that
they look after the key/s for the property throughout the
tenancy. If they fail to do so, they will be responsible for
covering the reasonable costs of replacement of the key/s;
The tenant is responsible for paying their rent on time. If they fail to do so,
interest will be charged in line with the Bank of England’s base rate if a rent
payment is more than 14 days overdue for each day the payment is
outstanding.
Payment of £50 inc vat if you want to change the tenancy agreement.
Landlord fees:
Initial set up fee - £120 inc VAT
Monthly fee of 15% inc VAT taken from rent received
Agreement
of Terms and Conditions of Business for Residential Letting
Agency
BETWEEN Home
& Finance (Hereinafter referred to as ‘the Agent’)
and their
successors in title (Hereinafter referred to as ‘the Landlord’)
IN RESPECT OF :
The property
referred to as –
(Hereinafter referred to as ‘the
Property’)
1.0 Authorisation of Instruction
1.1 I / We as sole / joint legal owners(s)
of the above stated property hereby appoint Home & Finance to
act as our Agents in connection with the letting of the Property
and in accordance with the terms and conditions herein.
1.2 The property shall be initially
advertised at a calendar month rental figure of £
1.3 I / We hereby confirm instructions for
the Agent to provide the following service level, full details
of which are set out in the Schedule attached:
Full Management
2.0 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 by the Tenant as security for the performance of
their obligations as defined in the tenancy agreement.
3.0 The Landlord’s Obligations
3.1 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.
3.2 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.
3.3 The Landlord hereby warrants to the
Agent that all electrical appliances have been Portable
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.
3.4 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
£90.00 including VAT for arranging the EPC in the event of
the Landlord failing to provide one
3.5 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:-
3.5.1 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.
3.5.2 Where no certificate has been
provided, the Agent is legally bound to deduct tax at the
appropriate rate from rent collected on the Landlord’s behalf
and hold the amount so deducted to the Landlord’s credit until
the taxation liability has been agreed. 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.
3.6 Premium Leases – Should the Landlord
enter into a premium lease whereby the Tenant pays the whole
rent in advance, the Agent’s full term fees are payable for the
service required at the start of the Tenancy.
3.7 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. Where
the Landlord sells the Property to a Third Party, he shall
remain liable for the Agent’s fees in accordance with 4.1 below
until the new Owner agrees to honour all fees and terms and
conditions of business agreed between the Agent and the original
Landlord.
3.8 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.
3.9 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: a) Any acts of
neglect or default of the Landlord, their employees or
licensees. b) 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.
3.91 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.
4.0 Payment of Fees
4.1 The Landlord/s shall be liable to pay
the Agent’s fees set out in the Schedule hereto.
4.2 Value Added Tax will be included in
fees and commissions.
4.3 The Landlord shall be liable to pay the
Agent’s fees 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 Fees are payable upon receipt of rental
monies from the Tenant out of such monies received. Any
outstanding balance on fees not covered by such monies shall be
invoiced by the Agent to the Landlord and payable within one
month 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 special appointments outside normal office
hours, 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 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 and deduct from the next rent payable to the landlord.
4.7 The Agent reserves the right to charge
an appropriate amount for extra services including the
re-direction of post, overseas telephone calls and the
supervision of any major building or decorative works,
processing insurance claims and management services agreed with
the Landlord when the Property is unoccupied
4.8 All monies received in respect of both
the Deposit and rent from the Tenant on behalf of the Landlord
will be held by the Agent in a client account at Royal Bank of
Scotland or such other bank as the Agent may designate and any
interest earned thereon shall belong to the Agent.
4.9 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 shall be liable for the
administration costs incurred by the prospective tenant and also
any additional administration fees charged by the Agent
5.0 Agent’s Obligations
At all times to provide the services
detailed in the Schedule hereto as selected by the Landlord at
1.3 above.
6.0 Management of the Deposit at end of
the Tenancy
The Landlord hereby agrees that at the end
of the Tenancy the Deposit will be dealt with as set out below
and that the Agent will charge for these services where
appropriate as set out in the Schedule:- If there is no dispute
the Agent will keep any amounts agreed as deductions where
expenditure has been incurred on behalf of the Landlord, or
repay the whole or the balance of the Deposit according to the
conditions of the Tenancy Agreement with the Landlord and the
Tenant.
The Tenancy Agreement shall provide that
when the there is a dispute that remains unresolved over the
allocation of the deposit and the amount in dispute is
over £5,000 the Landlord and the Tenant agree to submit the
dispute to formal arbitration through the engagement of an
arbitrator appointed by the Deposit Protection Scheme (DPS)
although, with the written consent of both parties, the DPS may
at its discretion accept the dispute for adjudication. The
appointment of an arbitrator will incur an administration fee,
to be fixed by the board of DPS from time to time, shared
equally between the Landlord and the Tenant. The liability for
any subsequent costs will be dependent upon the award made by
the arbitrator. The statutory rights of either the Landlord or
the Tenant(s) to take legal action against the other party
remain unaffected. It is not compulsory for the parties to refer
the dispute to DPS for adjudication. The parties may, if either
party chooses to do so, seek the decision of the Court. However,
this process may take longer and may incur further costs. Judges
may, because it is a condition of the Tenancy Agreement signed
by both parties, refer the dispute back to DPS for adjudication.
If the parties do agree that the dispute should be resolved by
the TDS they must accept its decision as final and binding.
If there is a dispute the Agent must remit
to DPS the full deposit, less any amounts already agreed by the
parties and paid over to them. This must be done within 10
working days of being told that a dispute has been registered
whether or not the Landlord or the Agent want to contest it.
Failure to do so will not delay the adjudication but DPS will
take appropriate action to recover the deposit and discipline
the Agent. The Agent must co-operate with the DPS in the
adjudication of the dispute and follow any recommendations
concerning the method of the resolution of the dispute.
7.0 Indemnity and Incorrect Information
7.1 Where instructed, the Agent shall take
reasonable steps to collect the rent due under the Tenancy but
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.
7.2 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.
8.0 Miscellaneous Terms and complaints
handling procedure
1. All invoices for the Agent’s fees are
due for payment within one month of invoice date
2. 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.
3. The Landlord hereby acknowledges that:-
4.1 the Agent is obliged to include the
Landlord’s full name and address on all rent demands and the
tenancy agreement in accordance with the requirements of the
Landlord and Tenant Act 1987
4.2 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.
4.3 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.
Full Management
Service
Services
provided by the Agent – Home & Finance
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 accompanied viewings with all suitable applicants
4. Obtain satisfactory references on all
Tenants and any Guarantors
5. Prepare and execute the Tenancy
Agreement
6. Compile an Inventory and Schedule of
Condition EXCEPTING THAT The agent will not be held responsible
for nor will they take an inventory of any contents locked
within a room or other storage area. Lofts, sheds and
outbuildings are not generally included in an inventory and
should items be left in these areas they are the responsibility
of the landlord/s.
7. Where possible take meter readings and
notify utility companies and local authority of change of
occupier (excluding telecommunications)
8. Receive monies/rents and remit to the
Landlord’s account by bank transfer after all deductions
referred to in Clause 4 of these terms and conditions
9. Receive and hold security deposits as
Stakeholder as per the Tenancy Deposit Scheme administered by:-
The Deposit Protection Scheme :- The
Pavillions – Bridgewater Road – Bristol – BS99 6AA
10. Carry out regular property inspections.
11. Attend to any maintenance matters and
arrange any necessary repairs up to the value of £250.00
12. Acting in the Landlord’s best interest,
attend to and oversee any emergency repairs
13. Where necessary, arrange for two
quotations to be submitted by qualified Contractors
14. Provide estimates for preventative
maintenance
15. Instruct a GAS SAFE registered
Contractor to carry out subsequent gas safety checks, provide a
gas safety record.
16. In the case of rent arrears, send all
appropriate letters, prepare and serve Legal Notices
17. Serve legal Notices of Possession (but
for the avoidance of doubt, any possession proceedings shall be
conducted by solicitors at the expense of the Landlord)
18. Notify the landlord where the tenancy
renewal is due and take instructions regarding the serving of
notices or renewal of the tenancy and insurances if appropriate
19. Negotiate an extension to the Tenancy,
prepare and execute Supplemental Tenancy Agreement
20. Arrange for the Check Out at the end of
the Tenancy, where possible take meter readings and notify
utility companies and local Authority of change of occupier
21. Instruct and oversee any necessary
works including repairs, cleaning and gardening
22. Reconcile the deposit and the return
the sum or balance thereof to the Tenant as per the Tenancy
Deposit Scheme.
23. Pay interim bills on behalf of the
Landlord up to agreed limit (providing sufficient funds are
retained and the account is in credit.)
24. Provide where applicable statements and
receipts for rent and other payments at the time due and as
agreed with the banks
25. Maintain up to date records of all
transactions in respect of the management of the property.
26. Keep financial records in respect of
the Property for not less than 7 years.
27. To act on behalf of the landlord/s as
their agent in all matters appertaining to the management and
tenanting of the property and obey the Landlord’s lawful
instructions and in the absence of such instructions to act in a
manner as the agent reasonably considers to be the most
beneficial to the Landlord.
28. Notify the landlord of any breach in
the tenancy agreement of which they become aware as soon as
reasonably possible.
Fees Payable to
The Agent:
A fee of 15% inclusive of VAT of the
monthly rent (the commission), payable monthly, upon receipt of
the rent.
In addition, there is a setup fee which
includes the compilation of the inventory, schedule of
condition, writing up the tenancy agreement and tenant credit
check, which is charged at £120 including VAT.
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.
3 As a member of ARLA (The Association of
Residential Lettings Agents) the Agent must comply with strict
rules on how they deal with the Landlord’s money and bank
accounts must be audited regularly.
4 The Agent will have adequate professional
indemnity insurance and be protected by the ARLA’s client money
protection bonding scheme which safeguards client’s monies from
any misappropriations of funds or claims of bankruptcy.
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 Home & Finance are regulated by The
Financial Conduct Authority and are members of the Residential
Landlords Association (www.rla.org.uk)
and The Property Ombudsman (www.tpo.co.uk)
– We do not have CMP – Client Money Protection