TERMS & CONDITIONS FOR YOUR PROPERTY MANAGEMENT

On receipt of this signed contract, we will with your authority and confirmation draw up a Landlord statement of intention and requirement which will be attached to your contract, creating a record which pays due regard to your tenancy and rental expectations.  Once we have documented your requirements, we will adopt the following procedures;
           
1.Devise and produce a Property Portfolio containing;
a) A detailed inventory of contents, fixtures and fittings.
b) A ‘condition assessment’ of the property.
c) A disclosure of all current utility suppliers, notating the location and method of metering.
d) A disclosure of precise location and number of parking space.
 
2.Market your Property using the following strategies;
            a) Contact re-location agents and corporate bodies.
            b) Advertise in the local press (at our discretion).
            c) Use our website.
            d) In-house interviews and follow-up viewings.
            e) Window advertising.

3. Set up your tenancy and;
            a) Establish your rental requirements with prospective tenant via printed rental projection
            b) Acquire the relevant status enquiries via Bank/Building Society and production of personal references.
c) Prepare the tenancy agreement to comply with current legislation.   
d) Accept and hold in a Client Bond Account, the Bond/Dilapidations Deposit, which is currently 1 x 1 month rental for unfurnished and 1.5 x 1 month rental for furnished.
e) Transfer all utilities and Council Tax into tenant’s name from day 1 of the tenancy.   
f) Ensure that there is a current valid Gas Safety Certificate. Landlords are responsible for providing the initial certificate which must be in place before the tenancy commences to be in compliance with current legislation.
g) Collect rent and, subject to cleared receipt, account to you via Rental Remittance Advice on a monthly basis. Payment to you being usually 10-12 days after rent due/received date.
h) Ensure that checked and signed copies of the Inventory and Condition Assessment is secured at the outset from both tenant and agent and made available for inspection.
i) Establish method of rental payment by tenant, normally by direct debit, unless special circumstances prevail.
j) Establish and acquire Landlord’s banking details for online rental payments.  To be submitted in writing by the Landlord.
k) Establish with the Landlord that we do not offer or accept responsibility for re-direction of mail.  This must be arranged by the Landlord before the tenancy begins.

4. Ongoing maintenance procedure;
a) Receive reports from tenants of any contingency/repair which might arise, for which you the Landlord are responsible and establish nature of problem.
b) Check on file, ‘Landlord’s Intention’ form for specific instructions of procedure.
c) Report to you, the Landlord, the nature of the problem.
d) Liaise with tenant to allow access for trades people
e) Where a bill is paid by M.Q.P. on your behalf, we will provide a copy of the bill for you and retain the original bill on file, only paying bills when we are satisfied that work has been checked and carried out satisfactorily.
f) The landlord or his representative, has the right, by arrangement with the tenant through MQP to visit the property to carry out periodic inspection of your property reporting to you any maintenance concerns and that the tenant is observing conditions of his agreement.   Where there is any breach, inform you of the strategies to be employed to rectify the situation. 

5. Termination of Tenancy;
a) 2 months prior to the initial contracted termination date of tenancy, check with Landlord and tenant of future requirements in order to observe the legal 2 monthly, written requirement for the Landlord if he wishes to terminate a tenancy.  Check that any extension of contract required by the tenant is agreeable to the Landlord.
b) Where a termination is required, alert the tenant during the last month of the tenancy that his contract allows fair and reasonable access for agent and prospective tenant viewing.
c) On final day of tenancy carry out an initial dilapidations assessment (with tenant & landlord present where possible) to be followed within 1 week with a thorough Inventory check.  Make an estimate of dilapidations, (other than fair wear and tear) and account for any breakages or missing items in order to compensate you for such dilapidations.  Withhold Bond repayment until all such dilapidations are effectively accounted for.
d) On final day of tenancy, transfer utilities from departing tenant to new tenant or Landlord as necessary.  Notify appropriate utility authorities of all pertinent dates and meter readings, supplying copies of notification to yourself.
e) Ensuring that the outgoing tenant provides a forwarding address. 

6. Non-Resident Landlord Management.  
i.e. If you reside outside the U.K. during the letting period, you are deemed a Non-Resident Landlord, thus we, M.Q.P. as your letting agents are obliged by the Inland Revenue (Taxes Management Act 1970) to deduct tax at a basic rate (22% as at 6 June 2002), and hold monies in a Client Account until the Inland Revenue agree on your liability.  If the tax demand is made by the Inland Revenue and we meet the liability on your behalf, we will then be responsible for depositing into your account any excess unused funds.
Overseas Landlord Tax Exemption may apply, but application to the Inland Revenue by the Landlord is essential to ensure validity.

7. Disclosure to HM Revenue & Customs;
We are required under the Data Protection Act to advise you that we are obliged to make regular disclosures to HM Revenue & Customs regarding your personal information and income received as a landlord.
We will be passing on your name, home address, rental property address and the gross income received for each property periodically as requested by HMRC under section 19(1) (c) Taxes Management Act 1970.

8. Periodic Vacancies.
Management will include occasional supervision only, i.e. when viewing with prospective tenants, we will check all is in good order and report to you any possible causes for concern.

9. Selling your property.
            In the event that your circumstances dictate that you wish to sell your property whilst tenanted, we would advise you on the best course of action to adopt.  We will obviously be very happy to market your property at          a negotiable rate relevant to current market trend, whilst allowing for your valued status as a landlord.

10. Management Fees;
            On finding a tenant who is acceptable to you and who enters into a contract to rent, our fees are;
            a) Initial Contract Fee - £150.00 plus VAT
            b) 12.5% + VAT of the monthly rental for the duration of the tenancy. Rate reduces for multiple properties let.
            c) 12.5% + VAT of the pre-vat figure on all service or maintenance disbursement bills.

11. Re-direction of Mail:
We advise that it is the responsibility of the outgoing tenant to arrange for re-direction of mail prior to date of vacating.  Sheer volume dictates that we cannot provide this service and MQP staff are instructed not to receive, hold or forward ANY mail for tenants or landlords. We would therefore appreciate your co-operation in not requesting this.

I/we confirm that I/we have read and understood M.Q.P.’s terms and conditions and therefore authorise M.Q.P. to act on my/our behalf in respect of;

Property Address…………………………………………….................................Post Code…………………

for which I am/we are sole/joint owner/s. I/We agree to indemnify M.Q.P. as set out in the terms and agreement conditions for all costs as agreed on my/our behalf.

Full Name/s………………………………                      ………………………………………………………...

Signed………………………………..…..                       ……………………………………………………......

Landlord Home Address…………………………………………………………………….…………………………………

Home Tel:…………………………………….

Mobile contact number………………………………………………..

I am resident in the UK for tax purposes / I am a non-resident landlord – Please delete as appropriate
(Form NRLT1 to be completed by non-resident landlords)

Bank Details: Bank Sort Code   …....-…....-…...                    Bank: …………………………………………..
Account number:……………….……
Account name……………………….……
 
NUMBER OF SETS KEYS SUPPLIED BY LANDLORD TO MQP……..……………………………………

Please complete two copies of this contract, retaining one copy for your records and returning one copy to M.Q.P.

Two forms of ID are required for each person signing this agreement:

1) Photo ID (Drivers licence/passport)                   Copy taken  Yes/No             
2) Proof of address, i.e. recent utility bill               Copy taken  Yes/No