Terms and conditions for the letting and management residential letting and of residential property

Residential letting and management service

FFIELDS RANGE OF SERVICES

1    Tenant Introduction and Rent Demand Service

When instructed on this service, we will:

• view the property and advise on the appropriate asking rent, furnishings and related matters;

• use every reasonable endeavour to find a suitable tenant;

• negotiate terms of the tenancy which are reasonably acceptable to you;

• obtain written references on the Tenant as appropriate. If applicable we may use a credit referencing agency;

• draw up and execute the appropriate Tenancy Agreement if required;*

• arrange for an independent inventory clerk to create and check the inventory at the commencement and termination of the tenancy;*

• obtain and hold a deposit (or letter of guarantee) on the terms laid down by the Tenancy Agreement (you will not be entitled to any interest which accrues on this sum);

• at the end of the initial term seek confirmation from you and the Tenant whether or not the tenancy is to be extended and if so prepare the relevant documentation if required;*

• where no Gas Safety Record is received 48 hours prior to the commencement of the tenancy we will arrange for the checking and servicing of gas appliances and installations pursuant to the Gas Safety (Installation and Use) Regulations 1998;*

• demand the rent on the due date and in accordance with the terms of the Tenancy Agreement and use all reasonable endeavours to chase and control late rent payments; and

• submit statements of account to you less deductions of commission and any withholding tax which may be appropriate.

For the avoidance of doubt, the Tenant Introduction and Rent Demand Service does not include any aspect of the Property Management Service under 2, 3, or 4 below. In the event that you do not require us to collect the rent, alternative arrangements can be made on request.

Fees

• Our fee for this service is 10% plus VAT of the gross rental under the terms of the Tenancy Agreement for the full term of the tenancy, payable in advance in 6 monthly

instalments.

• Our fee for the first 6 months of the tenancy, or the full term of the tenancy if 6 months or less is deducted from the first rental payment received and any balance remitted to you. If the first rental payment is not equivalent to the commission due the balance will be deducted from the subsequent rental payment or payments until the fee has been discharged.

• In the event that the initial tenancy is extended a fee of 10% plus VAT of the gross rental for the full term of the extension, and any subsequent extension, is payable in

advance in 6 monthly instalments at the commencement of each extension, whether or not the extension is negotiated by us. The fee is payable throughout the

entire period that the Tenant or his licensee remains in occupation of the Property.

• NB * There is an Additional Charge for items marked with an asterix, see Schedule 2 Additional Services.

2    Comprehensive Tenant Introduction/Rent Demand and Property Management Service

When instructed on this service, we will:

• view the Property and advise on the appropriate asking rent, furnishings and related matters;

• use every reasonable endeavour to find a suitable tenant;

• negotiate terms of the tenancy which are reasonably acceptable to you;

• obtain written references on the tenant as appropriate. If applicable we may use a credit referencing agency;

• draw up and execute the appropriate Tenancy Agreement if required;*

• notify utility companies (gas, electric, water) and the local council tax office of the change of user/occupier at the commencement and termination of the tenancy

• arrange for an independent inventory clerk to create and check the inventory at the commencement and termination of the tenancy;*

• obtain and hold a deposit (or letter of guarantee) on the terms laid down by the Tenancy Agreement (you will not be entitled to any interest which accrues on this sum);

• at the end of the initial term seek confirmation from you and the Tenant whether or not the tenancy is to be extended and if so prepare the relevant documentation if required;

• demand the rent on the due date and in accordance with the terms of the tenancy agreement and use all reasonable endeavours to chase and control late rent payments;

• submit statements of account to you less deductions of commission and any withholding tax which may be appropriate;

• effect repairs to the Property as follows:

• deal with proper requests or reports from the Tenant and investigate any complaints or defects which are brought to our attention;

• arrange (at your expense) as necessary for a contract cleaner to clean the property professionally before each tenancy (any subsequent cleaning will be charged to the outgoing tenant’s deposit);

• arrange as necessary for routine repairs and maintenance for which you are responsible, up to £300 per item, without prior consultation with yourself and instructing a contractor of our choosing;

• obtain and submit two estimates for your approval for any redecoration, replacement or repairs costing over £300, save in the case of an emergency (for works over £300 an additional charge is made see Schedule 2);*

• meet the costs of these outgoings from a working balance held during and at the end of the tenancy from the rental monies;

• where funds are not available to meet the expected cost of any works, they will not be carried out until we are put in funds by yourself or on receipt of rent

• pay your outgoings and charges in respect of the Property if so instructed, provided we are placed in funds and subject to the demands being sent to us for payment;

• arrange for a Gas Safety Check to be conducted by a CORGI registered engineer and a Landlord Gas Safety Record issued in accordance with the Gas Safety (Installations & Use) Regulations 1998 at the commencement of the tenancy (if one does not already exist) and at annual intervals thereafter. For the avoidance of doubt, the invoice rendered by the CORGI engineer for undertaking this service will be payable by you;

• Effect one visit per annum to the property. Additional visits if required attract a charge see Schedule 2*

• on receipt of the inventory clerk’s report, we will calculate the cost of damages owed to you and organise repairs, replacement or compensation. Should we be holding a letter of guarantee instead of a deposit, we will have to deduct the costs of any replacements or repairs from your account in order to effect these prior to recovering the sums from the tenant; and

• manage the Property when vacant for up to 28 days or until a tenancy commences, whichever is the shorter period, for no additional charge.

Fees

• Our fee for this service is 15% plus VAT of the gross rental under the terms of the Tenancy Agreement for the full term of the tenancy. The fee is apportioned as

follows:

• 10% plus VAT for the Tenant Introduction and Rent Demand Service; and

• 5% plus VAT for the Property Management Service

• Our 10% letting fee is payable in advance in 6 monthly instalments for any period for which the Property is let.

• Our fee for the first 6 months of the tenancy, or the full term of the tenancy if 6 months or less is deducted from the first rental payment received and any balance remitted to you. If the first rental payment is not equivalent to the commission due, the balance will be deducted from the subsequent rental payment or payments until the fee has been discharged.

• Our 5% management fee is deducted on receipt of rent and is payable during any period for which the Property is let.

• In the event that the initial tenancy is extended, a fee of

15% plus VAT of the gross rental is payable for the full term of the extension, and any subsequent extension, whether or not the extension is negotiated by ourselves, by the methods detailed immediately above. This fee is payable throughout the entire period that the Tenant or his licensee remains in occupation of the Property.

• We will require you to provide us with a float of £500 at the commencement of the contract to pay management bills on your behalf.

• NB We can no longer notify re. telephone change of user as the companies will not accept the instruction of a third party.

• NB For the avoidance of doubt, snagging of newly built properties and commissioning of systems are not within the normal range of our responsibilities.*

• NB * There is an Additional charge for items marked

with an asterix, see Schedule 2.

3    Vacant Property Management Service

• Where we are instructed on the Comprehensive Tenant Introduction, Rent Demand, Property Management Service above, and the Property is vacant for re-letting, this service will automatically commence, subject to instruction from you to the contrary (see alongside) if the Property is vacant for more than 28 days prior to letting or reletting

Under this service we will;

• Hold keys

• Supervise central heating

• Provide 24hr emergency service

• Effect routine maintenance and minor repairs

• Undertake to visit the Property fortnightly;

• Continue to pay bills on your behalf subject to funds being available.

Automatically undertaken see detail under

• Our fee for this service is of £150 plus VAT per calendar month.

• We will require you to provide us with a float of £500 at the commencement of the contract to pay bills on your behalf and to reimburse us to maintain this level on account.

• If you do not wish us to undertake this service you must advise us in writing prior to 28 days from the end of the tenancy and ensure that you comply with all your insurance policy requirements for vacant properties.

4    Management Only Service Fees

• If you wish we can manage the Property or continue to manage it in situations where another agent might have introduced the Tenant.

• This service can include the demand and receipt of rent and settling the introducing agent’s invoice in relation to commission due from rental monies received.

Fees

• Our fee for this service is 5% plus VAT of the gross rental under the terms of the Tenancy Agreement for the full term of the tenancy. In the event that we are not receiving the rent, fees are payable quarterly in advance and are due and payable whether or not you receive the rent for the period in question.

• If we are receiving rent, fees are deducted on receipt of rent.

• On this service there is a minimum fee of £1200 plus VAT per annum or pro rata if the tenancy is less than one year.

• We will require you to provide us with a minimum float of £500 at the commencement of the contract and to reimburse us to maintain this level on account.

5    Refurbishment and Furnishing Service

• We can undertake to arrange and supervise the redecoration and/or refurbishing of the Property as required to bring it up to or maintain it in good letting condition.

• A specification is agreed with the client.

• Estimates are obtained in line with the specification.

• Contractor contracts + time frames are agreed once estimates are accepted.

• No refurbishment work will be instructed without our being in funds to the equivalent of a minimum of 50% of the accepted estimated costs.

Fees

• Our fee for this service is:

• 10% plus VAT of the total cost of any building works undertaken; and

• 5% plus VAT of the total cost of any furniture or furnishings purchased.

The fees referred to above relate to the supervision and administration of such works/purchases on your behalf by us irrespective of whether a major building contractor or interior designer is retained.

ADDITIONAL SERVICES/CHARGES

Additional Charges which will apply           

1 Short lets. Lettings for periods of under six months    

An additional 5% plus VAT fee to the lettings fees

2 Preparation of Tenancy Agreement            

£75 plus VAT

3 Negotiation and administration of your or the Tenant’s

own Tenancy Agreement                   

£100 plus VAT

4 Preparation of renewal documentation by Tenancy

Agreement or Memorandum                    

£50 plus VAT

5 Creation of inventory    

Minimum fee of £75 plus VAT [although this is subject to variation according to

the size of the Property and level of the furnishing]

This fee is payable by you to us for payment to the inventory clerk. The

appropriate sum will be withheld from the first instalment of rent. Where an

inventory is made but a proposed tenancy does not proceed this fee remains

payable by you since the inventory can be used for any future tenancy in your

property.

6 Checking of inventory at the beginning of the tenancy    

Minimum fee of £75 plus VAT [although this is subject to variation according to

the length of the inventory and the size of the Property]

This fee is payable by you to us for payment to the inventory clerk. The

appropriate sum will be withheld from the first instalment of rent.

7 Where you do not have an Exemption Approval

Number, time spent in relation to submitting

information required for the Finance Act 1995 save

for forwarding monthly/quarterly copy statements to

accountant    

£50 plus VAT per hour, subject to a minimum fee of £150 plus VAT

8 When instructed on Comprehensive

Management Service, supervising repairs costing

in excess of £300 or works not included in the routine

management service   

10% plus VAT of final costs of works undertaken

9 Courier delivery of documents relating to the tenancy    

This will be charged at cost

10 Notify utility companies (gas, electric, water) and

the local Council Tax office of the change of

user/occupier at the commencement and

termination of the tenancy; (This charge only applies

to Tenant Introduction and Rent Demand Service)        

£50+VAT

11 Booking inventory clerks to either create an

inventory or effect a check in. (This charge only applies

to Tenant Introduction and Rent Demand Service)    

£25 plus VAT each appointment

12 Reconciling or negotiating the damages and

deposit return on your behalf. On receipt of the

inventory clerk’s report, we will calculate the cost of

damages owed to you and organise repairs,

replacement or compensation. Should we be holding

a Letter of Guarantee instead of a deposit, we will

have to deduct the costs of any replacements or

repairs from your account in order to effect these

prior to recovering the sums from the tenant (This

charge only applies to Tenant Introduction and

Rent Demand service)    

£50 plus VAT per hour subject to a minimum fee of £150 plus VAT

13 Arranging for the checking of gas

appliances/installations on your behalf in the

event that you do not supply us with a Gas

Safety Record 48 hours prior to commencement

of the tenancy. (This charge only applies to Tenant

Introduction and Rent Demand Service )            

£50 plus VAT

For the avoidance of doubt, this fee is in addition to any invoice submitted to

you by the CORGI engineer.

14 Snagging of newly built properties & commissioning

of systems                            

£50 per hour plus VAT

15 Property checks/visits to the Property at such

intervals as you may require followed by a written

report                                

£50 per visit plus VAT

16 Seeking legal advice, undertaking legal action, court

appearances and/or arbitrating on your behalf   

£50 per hour plus VAT plus disbursements

You will also be responsible for all legal costs

17 Waiting for and attending the Property with unknown

contractors                            

£25 per hour plus VAT

18 Where we have to undertake management related

work at a NON managed property                

10% of bills paid plus VAT

19 Application to mortgage lender, head landlord or

insurance company for consent to sub-let at the

commencement or renewal of a tenancy    

£50 plus VAT per consent NB this is our fee and exclusive of fees charged by

solicitors or freeholders

20 Standard Hourly rate where charged            

£50 plus VAT

21 Shopping charge for making up of inventory or

minor items required for a tenancy    

£25 per hour plus VAT and parking costs

NB items 10-21 are optional

SERVICE LIMITATION AND YOUR OBLIGATIONS

1. Fees and Charges

1.1 You will be liable for the charges set out in Schedule 1 in respect of the Services.

1.2 You will be liable for the Additional Charges set out in Schedule 2 in respect of any Additional Services provided to you under the Agency Terms requested by you during the Term.

1.3 You may also be liable for the fees set out in Schedule 3.

1.4 We will be entitled to our fee if we let the Property, whether instructed verbally or in writing.

1.5 Payment of all other sums due to us under the Terms is due upon delivery

of an invoice or may be deducted by us from monies coming into our hands

and belonging to you (i.e. rent).

2. Calculation of Fees

2.1 We will be entitled to receive fees in accordance with the Terms in respect of any Tenant or Occupier introduced by us or any persons subsequently introduced by any Tenant or Occupier of the Property for however long that same tenancy lasts, provided either the Tenant or the Occupier remains the same. This entitlement includes any extension or renewal of the initial term and any subsequent extensions or renewals thereto, irrespective of whether or not such extension or renewal is negotiated by us or our representative or by you or by any other persons or their agents.

2.2 Fees are calculated on the total rent as shown in the Tenancy Agreement, including any extensions and increases. For the purpose of calculating the fee there shall, at our discretion in assessing the total rent, be added to the rent payable under the Tenancy Agreement or any renewals or extensions to the Tenancy Agreement any additional sums payable by the Tenant over the term of the tenancy in respect of service charges and any other charges or outgoings in relation to the Property for which you are usually deemed to be responsible.

2.3 If we secure a Premium Lease where rent is paid for a period of over one year in advance, we will be entitled to deduct our fees for the full term of the lease from the premium payment.

2.4 Should the Tenant exercise a release clause our fee will be payable up to and including the last lawfully due rental payment and will cease to be applicable thereafter. If the Tenant ceases to pay rent for whatever reason other than the legitimate exercise of a release clause the fee due to us will remain due and payable upon demand. If a Tenant vacates the Property before the end of the agreed term and we secure a new tenancy covering the remaining period the fee relating to the overlap will be refunded. If a Tenant vacates the property before the end of the agreed term with your permission and a new tenancy is secured by another party the fee due to the end of the agreed term shall remain due from you.

2.5 Should you instruct us to proceed with a proposed tenancy and you subsequently withdraw such instruction, we will require you to meet the cost of the expenses incurred by us in the intervening period in finalising tenancy details, collecting references and preparing the Tenancy Agreement which will be charged at an hourly rate (see Schedule 2). However you will not be responsible for such costs if the references on the proposed Tenant prove to be unsuitable or if the proposed Tenant withdraws from the transaction prior to completion.

3. Funds for Management

3.1 We will require you to provide us with such float funds as we request at the

commencement of the Term and to permit us to maintain the amount of the

float at such a level as we consider appropriate by retaining monies from

rents received. This figure shall be a minimum of £500 on monthly paid

tenancies and £750 per quarter on quarterly paid tenancies.

3.2 If we are not in possession of funds or are unable to put or maintain the

Property in the appropriate order for the tenancy to continue you may, as a

result of the Property not being in good repair, expose yourself to a claim by

the Tenant.

3.3 We cannot pay any bills on your behalf unless sufficient funds are available.

3.4 By instructing us to manage the Property you shall be deemed to request us to pay all bills. We cannot accept any responsibility or liability for the adequacy of any insurance cover or for the verification of service/ maintenance charge demands or whether the works or services to which they relate have been carried out.

4. Rent

4.1 If we are employed solely to carry out the Tenant Introduction and Rent Demand services (as detailed in paragraph 1 of Schedule 1) and problems of a management nature arise at the Property which cause the Tenant to withhold payments of rent as a result of any breach by you of a repairing

obligation, we reserve the right to undertake and supervise any necessary repairs in order to maintain the payments of rent, to deduct the costs of the repairs from the rents received, and to charge a fee for such service at an hourly rate or percentage of costs (see Schedule 2).

4.2 We will inform you of any rent arrears or other breaches of covenant of

which we are aware. We will on receipt of instructions from you instruct

solicitors to act on your behalf.

5. Contractors and Shoppers

5.1 Should a contractor who is personally unknown to us be required to attend the Property when the Tenant or Occupier cannot be present, for security reasons, we will arrange for someone to attend the Property on your behalf and will charge their time to you at a fee of £25 per hour.(See Schedule 2)

5.2 Where we have to go to department stores such as John Lewis  to

obtain minor items to make up an inventory or provide items for a tenancy

we will charge the time to you at a fee of £25 per hour plus parking expenses.

6. Works and Repairs

6.1 Where we are instructed on the Property Management Service and there is an emergency where work may exceed £300 and you are not reasonably contactable, we reserve the right to proceed with any remedial work as is as considered appropriate without your prior authority.

6.2 We shall organise the carrying out of all running repairs or replacements for

which you (as landlord) are responsible, up to a maximum cost of £300 per item. We shall seek estimates for any necessary repairs or replacements likely to cost more than £300 and (if you are available) will submit them to you for approval before undertaking the work or purchase. If you are not reasonably available to approve an estimate and we are satisfied that the price is reasonable and that the repair should be completed or item replaced without delay, we shall proceed with the work as soon as we have funds sufficient to meet the cost. If we have insufficient funds to organise the work we shall not carry it out until we are in receipt of funds for the purpose, or receive payment of rent, the net amount of which is sufficient to cover the cost. An additional fee will be charged for supervising repairs or replacements costing over £300 or major works in excess of £300 (see Schedule 2).

6.3 For all works not included in the routine Management Service, there will be an additional fee. This fee will be determined as appropriate by us, in advance as detailed under Schedule 2.

6.4 Snagging of newly built properties and commissioning of systems are not within the normal range of our Property Management or Vacant Property Management responsibilities and, if effected, would incur a charge at an hourly rate (see Schedule 2).

6.5 Historic problems evident or known to you prior to the letting or works and/or repairs required by the Tenant prior to the letting fall outside routine management responsibilities and will be charged for on the basis of nonroutine management fees (see Schedule 2).

6.6 Our Management Service includes the investigation of defects which come to our notice or are clearly and adequately brought to our attention by the Tenant. Such investigation will extend only to apparent and obvious defects and will not amount in any way to a structural survey of the Property nor will such inspection form part of an inventory check. We cannot accept any responsibility for hidden or latent defects or for failure to notice anything concealed from our representatives or agent.

6.7 We require you to confirm that as managing agent we have permission to maintain the Property as stated in the Tenancy Agreement subject to the provisions of Section 11 of the Landlord and Tenant Act 1985 as amended by Section 116 of the Housing Act 1988 in relation to your obligations to keep in repair and proper working order the structure and exterior of the property, drains, down-pipes and gutters, the installations for the supply of the water, gas, electricity and sanitation (including basins, sinks, baths and sanitary conveniences but not other fixtures and fittings and appliances for making use of the supply of water, gas and electricity) and to keep in repair and proper working order the installations for space heating and heating of water.

7. Deposit Returns and Damages

7.1 On our Tenant Introduction and Rent Demand Service we do not negotiate the damage and dilapidation settlements between the Tenant and you. We send copies of the check-out report to you both for your comments and to agree the dilapidation charges between you.

8. Legal Advice

8.1 Should you take legal action or submit to arbitration to preserve your rights and/or property we will, subject to your instructions, liaise with your solicitors or the arbitrators and provide any appropriate information and assistance. However our time spent in conference with solicitors and barristers and court appearances is charged at the hourly rate (see Schedule 2).

8.2 Should legal advice or action be necessary any fees or charges pertaining to such legal advice or action will be your responsibility.

9. Appointment

9.1 If we are appointed as sole, joint or multiple agents these Agency Terms shall continue to apply, together with any future amendments which may be agreed in writing with you.

9.2 You agree that we may erect such boards as we consider appropriate on the Property and you will make any necessary arrangements with either the Tenants or other occupiers of the Property to facilitate this.

10. Termination

10.1 Unless otherwise agreed in advance, our appointment to manage the Property under these Terms is subject to three months’ written notice to terminate from either side during the course of the Tenancy Agreement. If the management agreement terminates, the proportion of commission fee relating to the letting (and rent demands if applicable) of the Property shall remain due and payable to us as introductory agent.

11. Sale of the Property and Subsequent Tenancies

11.1 If the Tenant or Occupier or any Associated Party of the Tenant or Occupier introduced to the Property by us, subsequently purchases the Property during the term of the tenancy, or within one year of the termination of the tenancy, you will pay to us a fee of 2% plus VAT of the final purchase price (including all sums paid for any furniture, fixtures and fittings) in respect of the introduction (“the Introductory Fee”).

11.2 However having calculated the 2% fee the letting fees already collected for the introduction of the Tenant shall be deducted from the 2% fee total and only the balance between the total letting introductory fee and the sales introductory fee shall remain payable.

11.3 The Introductory Fee will become payable on completion or two months after exchange of contracts, whichever is the sooner.

11.4 If a party introduced by us or any Associated Party of that party subsequently purchases the Property before entering into a Tenancy Agreement, you shall pay to us 2.5% plus VAT of the final purchase price (including any sums paid for furniture, fixtures and fittings) (“the Pre-Tenancy Introductory Fee”).

11.5 The Pre-Tenancy Introductory Fee will be payable on completion or two months after exchange of contracts, whichever is sooner.

11.6 If the Property is sold subject to a tenancy arranged by us you will pay us, on completion, a sum equivalent to the letting commission we would have received had the Property remained in your ownership and for however long that same tenancy lasts whether or not subsequent extensions of the tenancy are negotiated by yourselves. Whilst this sum may be paid subsequent to completion by arrangement with the purchaser on receipt of rent for the duration of the tenancy, you will remain responsible for full payment upon demand, even though you may no longer receive the rent. In your own interests you should therefore obtain the purchaser’s written agreement to our Terms of Business at exchange of contracts.

11.7 If an Associated Party of the Tenant or Occupier enters into a subsequent

Tenancy Agreement, without there existing any intervening tenancy, a fee shall be payable to us at the commencement of the subsequent tenancy. This shall be at the rates described in schedule 1, at whichever rate is appropriate.

12. Rent

12.1 All rent received by us will be paid into a client account and any fees due to us will be deducted. [If any interest accrues in respect of the rent before it is remitted to you in accordance with instructions we may keep such interest (if any) for our own account notwithstanding that you would otherwise be entitled to such interest.]

12.2 Present banking arrangements require us to allow approximately five working days for rent cheques to be cleared before monies can be transferred to your account. It can take a further three days for the monies to clear into your account. We endeavour to pay rent received by standing order within two working days of the payment appearing on our bank statements. We undertake to pay rent received to you within 5 – 11 days of receipt provided payment is made to you by BACS.

12.3 We are not liable for any rent, or non-payment, or any other of the Tenants’ and/or Occupiers’ liabilities nor if there are insufficient funds available for any outgoings payable on your behalf.

13. Interest

13.1 Any sums due to us by you under the Terms which are not paid on or before the due date, shall incur interest at the rate of 4% above the base rate of Lloyds Bank Plc from time to time from the date such sums become due until payment. Interest shall accrue on a daily basis and shall be payable prior to and after judgement.

14. Your obligations

14.1 You will use your reasonable endeavours to help us carry out the Services. In particular, you will instruct and pay your agents and professional advisers to take the necessary steps to enable the legal and other formalities relating to the letting or management of the Property to be completed.

14.2 You will ensure that, where possible, we and all prospective tenants and any workmen who will require access to the Property in order for our or your obligations under the Terms to be carried out will be given access to the Property at all reasonable times. To enable us to do this, you will make keys to the Property available to us, on the understanding that we may deliver keys to prospective tenants and to persons authorised by prospective tenants for inspection of the Property and to Workmen.

14.3 Where keys are made available in connection with clause 14.2, we will obtain confirmation from every person to whom the keys are made available that they will be returned. However, we will not be liable to you for any damage caused to the Property by a prospective tenant or its agents or any Workmen.

15. Commissions to Third Parties

15.1 We reserve the right to give to other agents details of premises to let on a commission-sharing basis in the absence of instructions to the contrary. No additional commission is payable by you in such cases.

16. VAT

16.1 Save where otherwise stated, all sums due under the Terms shall be subject to VAT at the appropriate rate or any other tax, which may take its place.

17. The Property

17.1 You represent and warrant that:

17.1.1 all information relating to the Property supplied to us by you or on your behalf by your managing agents, joint agents, solicitors and other professional advisers is correct;

17.1.2 there are no unusual or unduly onerous easements, covenants, restrictions, outgoings or conditions attached to the Property which may affect its title and/or marketability;

17.1.3 the Property and its occupancy complies with all relevant statutory and regulatory requirements; and

17.1.4 the provision by you to us of information relating to the Property, its use, occupation and management does not infringe any laws or duties of confidentiality which you may be subject to.

17.2 You will indemnify us and keep us indemnified against all losses, damages, costs and expenses (including legal fees) arising from any breach of clause

17.1 other than any losses damages, costs and expenses (including legalfees) arising from our wilful default or fraud.

18. Estimates

18.1 We will rely entirely on information given to us by you or your agents and professional advisers in calculating the market rental of the Property.

18.2 Any estimates which we give relating to the current or future open market rental of the whole or part of the Property will not constitute a valuation of the Property for income purposes.

18.3 Any information or advice given by us will not have been prepared in accordance with formal valuation requirements of the Royal Institution of Chartered Surveyors and, as such, you accept that we will not have carried out a full valuation of the Property (unless you have separately instructed us to do so).

19. Limitations

19.1 Any advice given by us or any person on our behalf regarding the legal meaning or effect of any lease or contract will not be relied on by you; it will be the responsibility of your legal advisers to advise you on these matters.

19.2 In instructing an individual within ffields, whether he is a partner or director or employee, you acknowledge that any liability which that individual would otherwise owe to you is excluded on the basis that you are entirely relying on the duties owed to you by ffields.

19.3 You are advised to take out all appropriate insurance cover, as we cannot be held responsible for injury to persons or property arising out of the condition of the Property or any hazard in or about the Property.

19.4 We will not be liable directly or indirectly for any deficiency, loss or damage unintentionally caused to the Property, its fixtures and fittings and contents, whether or not such items are included in the inventory.

19.5 We do not employ inventory clerks and cannot under any circumstances be held responsible for any error or omission on the part of the independent inventory clerk.

19.6 We do not accept responsibility for any errors or delays by telephone, gas, electricity and water companies or for the condition of the Property, its contents or services at the outset of the tenancy.

19.7 We will carry out the Services and the Additional Services with reasonable care. However, we are unable to guarantee the suitability of a Tenant, timely rental payments or vacant possession at the end of a tenancy.

20. Statutory compliance

20.1 If we reasonably suspect any funds paid or payable under the Terms or otherwise represent the proceeds of activities involving criminal acts, we will immediately take such action as is required of us by law.

20.2 If you are a non-resident for tax purposes, income tax remains payable on rents arising in the United Kingdom.

21.3 If we receive those rents on your behalf we are liable to account to the Inland Revenue for income tax on the rent at basic rate. In the event that the Inland Revenue has not issued us with an Exemption Approval Number on your behalf, we have no alternative but to deduct tax from the Gross Rents received and as required by statute to prepare and submit quarterly statements to the Inland Revenue and account for tax so deducted. Gross rents means total monies received before any deductions, including agents fees.

20.4 All sums withheld will be paid into a non-individually designated clients tax holding account. If any interest accrues in respect of these monies before they are remitted to the Inland Revenue we keep such interest (if any) for our own account, notwithstanding you (as landlord) would otherwise be entitled to such interest.

21. Governing law and entire agreement

21.1 Acceptance of the Terms forms an agreement between you and us binding at law and that agreement is to be interpreted according to English law only and subject to the jurisdiction of the English Courts alone.

21.2 No variation to the Terms will be effective unless agreed in writing.

22. Definitions

22.1 In these Agency Terms the following meanings shall apply:

Additional Charges means the charges listed in Schedule 2 and any other charges payable under the Terms which are not in respect of either the Services or the Additional Services;

Additional Services means one or more of the additional services listed in Schedule 2;

Agency Terms means these Terms and Conditions,

Client, you or your means the person(s) referred to in the Instruction Form(and where there are more than one, they shall be jointly and severally liable);

Associated Party/Parties means family members or companies or trusts controlled directly or indirectly by that party (including partnerships, joint ventures or funds);

Instruction Form means the signed and completed form from you to us confirming the terms of our appointment, the services required and remuneration and any variations agreed by us in relation to these Agency Terms;

Property means the property referred to in the Instruction Form;

Services means the services listed in Schedule 1;

Tenant or Occupier means a person who occupies the Property under aTenancy Agreement, lease, licence or any other disposition;

Term means the term of the arrangement entered into between you and us, commencing on the date we start providing the Services to you; and

Terms means the Agency Terms and the Instruction Form.

Instruction form

Re: (the property)

I/We: (Full Names)

FULL NAMES MUST BE SUPPLIED, if the property is jointly owned both names must appear on the Tenancy Agreement. If the property is corporately owned the company’s full name and registered office must appear on this form and on the Tenancy Agreement and must be signed hereunder and on the Tenancy Agreement by an authorised signatory

Confirm that we have read and understood and accept the Terms and Conditions to which this Instruction Form is an attachment and instruct ffields to undertake the service detailed in Schedule 1 and duly ticked below (to incorporate services 1-9 in Schedule 2).

(Please tick as required)   

Tenant Introduction and Rent Demand

Comprehensive Tenant Introduction/Rent Demand & Property Management

Vacant Property Management Service

Management Only Service

Refurbishment and Furnishing Service

I/We also require the following Additional Services detailed in Schedule 2 for which the stated additional charge will apply.

a)

b)

c)

d)

*I/We declare that I am/we are the joint owners/sole owner of the above property.

* I/We confirm that I/we have obtained preliminary approval for the letting of the property from the Mortgagee, Head Landlord and Insurance Companies.

OR

*I/We require ffields to seek permissions from the above parties as applicable on our behalf as detailed in Additional Services Schedule 2 for which an additional charge will apply.

(*delete as applicable)

I/We instruct you to pay rental income direct to my/our account detailed below.

Bank/Building Society

Address

Account Name                        

Sort Code     –     –

Account Number                       

Additional Ref

Signed                             Signed

Please Print Full Name

Date                                 Date

Forwarding Address

Home Tel.                             Work Tel.

Fax                                 E-Mail

Mobile

ffields is a trading name of FFIELDS LIMITED, registered in England. Registered No.