Landlords

ONE STOP ESTATES Letting & Management Agreement

 

* Letting Fee from 7%    *No Let No fee   *Tenants Waiting  

 

This agreement only comes into effect once the tenancy agreement has been finalised.

Definitions: We; us; our; ourselves is reference to the Agent. You; your; yourself is reference to the Landlord.

 

INTRODUCE  TENANT

Once we find a suitable tenant we carry out the following:-

References: We take up work and credit references and carry out a ‘Right to Rent` check.  At our best endeavour, we will verify the references and you may choose to do also.

Tenancy Agreement: We prepare our standard Assured Shorthold Tenancy Agreement (AST) for a period of 12 months.

Rent & Deposit: One calendar month’s rent is taken in advance, together with the equivalent of 5 week’s rent as deposit, against the cost of any damages and/or unpaid rent. (The deposit must be insured with a government approved protection scheme). Funds are paid directly into the Landlords bank account less any fees and property expenses.

Renewals: We will contact you at least two months before the tenancy agreement ends to discuss renewing the tenancy. We will negotiate any increase of rent with the tenant(s) and renew the tenancy agreement.

 

FULL MANAGEMENT

Includes the above plus the following:-

How to Rent Checklist:  We prepare and provide the tenants with the government approved guide to their tenancy rights.

Deposit Protection: We protect the deposit with the Deposit Protection Service (D.P.S).

Inventory:  We prepare an inventory, including photographs. The cost of inventory £160 for a 1 bedroom property; £10 for each additional bedroom. Costs include V.A.T. and are subject to change.

Utilities:  We use our best endeavours to arrange gas, electric, water and council tax accounts to be transferred into the tenant’s name.

Property Inspections: We carry out inspections throughout the tenancy and we will notify you should there be any irregularities or maintenance issues.

Maintenance & Repairs: On your behalf we will carry out repairs at our discretion and/or instruct at your expense a trades person to carry out any necessary works.  Permission is always sought if an expense is to exceed £200 - we will require a contingency sum for this amount.

Rent Collection: Rents are collected monthly, in advance and transferred to your bank account within 3 working days of funds being cleared by our bank, less any commissions, and property expenses.

Accounts: Monthly statements are emailed to you and ‘end of year` statements can be sent upon request.

Check-outs:  At the end of the tenancy we will carry out an inventory check out. Any costs for damages and/or unpaid rent will be deducted from the deposit and forwarded to you subject to the terms and conditions of the deposit scheme. We will deal with any disputes with the D.P.S.

Renewals:  We will continue to renew tenancies on a six month or yearly basis unless we receive written notice from you at least two months before the tenancy expires. Notice will be served to tenants at the owners request, at least two months before the end of tenancy agreement and thereafter.

 

COMMISSIONS

Commission fees are taken annually in advance and are payable as soon as the tenancy agreement is signed and the first rent has been paid.

Fees for Introduction Only are 7% (8.4% Inc. VAT) - Tenancy renewals are the same percentage for a minimum of two annual extensions.

Fees for Full Management are 10% (12% Inc. VAT) throughout the Management service.

Example: Annual rent being £12,000 x 7% = £840 + VAT @ 20% = £1080.

A two month written notice is required by either party to terminate the management services after which our fees for Introduction Only come into place (Fees for that annual period are non refundable). 

 

Note: Our fees are inclusive and there are NO additional fees for the following -

Drawing up the Tenancy Agreement; Deposit Insurance; Credit Checks & Referencing;

Supervising Maintenance; Check outs etc. 

 

 

  

 

 

 

 

 

           


        

 

 
 

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