Tenancy Agreement
Unless we are instructed otherwise, we use our standard form of Assured Shorthold Tenancy Agreement in respect of all lettings. Landlords instructing their own Solicitors to prepare an Agreement must be responsible for the payment of their charges. City Lettings do not charge Landlords for the Tenancy Agreement.
Services
The services included in our commission are :-
1. Collection of the deposit payable by the tenant against damages.
2. The collection of rent, one month in advance.
3. The forwarding of rent to yourself or to your bank/building society account.
Rent Remittances
Present banking arrangements are such that it is necessary for us to allow approximately 10 working days for rent payments to be cleared before transferring money into client’s accounts.
Property Management
City Lettings will arrange reading on your behalf in respect of the electricity, gas, telephone and water rates. The Council Tax authority will be informed of any changes. We will advise the relevant authorities of the new occupants. All the above bills are paid by the tenant.
Landlord’s and Tenant’s Obligations
It is the Landlord’s obligation to pay the building’s insurance and management/service charges where relevant. Also you must ensure that the building insurance cover is adequate and paid up to date. All furnishing must comply with the current fire regulations. Any gas appliances must be serviced and a certificate issued once a year. We advise that smoke alarms are fitted.
Inventories
We recommend that you complete an inventory of the items that will remain in your property during the tenancy. We can, if required, instruct an independent firm to act on your behalf. However, we cannot accept any liability for any error or omission on their or your part
Replacement Tenants
In the event that a tenant introduced by the company defaults under the terms of the tenancy agreement, City Lettings does however agree to use its best endeavours to locate suitable replacement tenants as soon as possible at no extra cost to the Landlord.
Termination of Tenancy
Tenants/Landlords must give two month’s notice to end their Tenancy Agreement. All our tenancy agreements are for one year with a six months break clause, after which two month’s notice must be given before vacating the property. A minimum term of eight months must be served.
Repairs and Replacements
We shall deal with the day-to-day management matters including minor repairs up to a maximum of £100.00 for any one item. Except in an emergency, wherever practical, estimates are obtained and will be submitted to you for your approval.
City Lettings, under current legislation, must ensure that boilers in all properties are issued with a current certificate. The cost of this service must be borne by the Landlord and a copy of the certificate must be provided for the tenant and for City Lettings records. If this has not already been done, City Lettings can arrange this for you at a cost of £70.00 and a copy will be provided for the tenant and yourself for records.
It is essential that any outstanding repairs, redecoration or alterations to the property be completed prior to the commencement of the tenancy. Properties must be left ready for occupation in a clean and tidy state.
1.) You will be informed of any rent arrears, or breach of covenant brought to our attention.
2.) Where we collect rent on behalf of an overseas client, we are obliged under UK tax regulations to deduct income tax at the basic rate from the rent. Overseas clients may be entitled to reclaim from the Inland Revenue, whole or the tax we deduct, dependent upon their individual circumstances. We therefore advise overseas clients to instruct accountants or other tax advisers to handle their tax affairs in the UK and let us know their names and addresses as soon as possible
3.) We may sub instruct your property to other agents when we consider it may help our marketing efforts unless you specifically instruct us not to do so. In this case, there will be no extra cost to you and viewing will be co-ordinated through us.
4.) Our fee is payable at the beginning of the Tenancy Agreement and is renewable each year. This letting fee will become payable in full as soon as the tenancy agreement has been signed or if the tenants are still in the property after the first year. If you dispose of your interest in the property subject to the rights of indemnity between you and purchaser, you undertake to bring to the notice of any purchaser our entitlement under this contract.
If rent is being paid direct to the landlord, and the landlord/tenant decides to give notice to quit, the last months rent will be made payable to City Lettings if applicable. City Lettings will then use this last months rent as the tenants returnable deposit once the check out process has been undertaken.
5.) City Lettings carries out comprehensive advertising in publications including Yellow Pages, Thompson Directory, Mercury 192, Loot, The Evening Standard, The Hackney Gazette, The Islington Gazette, Hot Property and we are also on the Internet as well as letting boards and leaflets. We are therefore constantly in touch with a large number of prospective tenants wanting to live in the East End of London.
5.1) All properties are advertised on numerous different websites including Letonthenet.com and Propertyfinder.com as well as Globalresident.com, Ascerter Home, Property Finder, F T.com, Telegraph.com, Doctors.net.uk and Handbag.com. City Lettings are developing a website where all properties can be videoed and then the information can be downloaded. This will be an exciting new aspect that City Lettings will be offering where your prospective tenants will be able to view digital pictures instantly via our website.
6.) We have an experienced back-up team of builders, plumbers and an electrician on call to do any necessary work to the properties. We have an experienced legal team who deals with all our Assured short-hold Tenancy Agreements.
If, as described above, you dispose of the property to the tenant or any associated party, a charge of 2% of the purchase price will be payable upon completion.
If you have access to a computer that’s connected to the web, why not browse our website. www.citylettings.com |
