Property Management Agreement & Terms of Business
Railton-Meeks Property Management Ltd of 5a Parkfield Road South, Didsbury, Manchester, M20 6DA
here after, referred to as the Agent [ ]
and [ ] here after, referred to as the Landlord
The Landlord(s) agree to appoint the Agent, to act for him/her in renting out the property know as:
Letting and Full management: I [ ] give permission for the Agent to let, collect and remit all rent fully manage the above property as stated in their terms and conditions. I/we authorise the agent to carry out all repairs that may be required affect to the property including safety, security and compliance with the statutory notice and regulations up to an amount of £250.00 without prior reference to me/us. I/we indemnify the Agent for all costs relating to such emergency repairs as may be essential in their absolute discretion.
Consent to let.
I/we acknowledge that I/we will be responsible for obtaining permission which may be required to let from my/our mortgage provider and/or lessor. I/we will notify my/our insurance company of my/our intention to let and will obtain and maintain cover and any such additional cover as may be necessary.
Safety and Statutory Obligations.
We instruct Railton-Meeks to carry out all necessary safety checks to adhere to the current legislation during the full management duration. We will provide current copies of the Gas safety, PAT electrical test, EPC & NICEIC 5-year safety test.
Terms and Conditions.
This agreement is made between the Landlord(s) being the owner of the property, named in this agreement, hereinafter referred to as the ‘Landlord’ and Railton-Meeks Property Management Ltd who agrees to act as agent for the Landlord and are herein after referred to as the ‘Agent’. The purpose of this document is to set out clearly and concisely the extent of the letting and management service offered, and the scale of fees charged.
1. Letting and Full Management Service
- Visit the property and advise on rents, furnishings and the latest regulations
- Promote, advertise and market the property (including provision of a to Let board) to find a suitable tenant and arrange appointments to view.
- To advise on current fire legislation and put forward a proposal for works.
- Accompanied viewings including evenings as required.
- Conduct relevant credit checks and references on prospective tenants.
- Prepare and sign on the Landlords behalf tenancy agreements.
- Draw up an inventory of the general condition of the property.
- Collect the security deposit and first month’s rental from the tenant
- Take meter readings where possible and advise the local authority responsible for the council tax of the new tenant(s) name(s) at the commencement of the tenancy.
- Send the standing order to the bank
- Collection of monthly rents and remitting them accordingly either by BACS/Bill payment by the 10th of each month.
- To provide a monthly statement by email, along with copies of the invoices if requested.
- To renew or extend an existing tenancy agreement where at the Agents discretion in the interest of the Landlord.
- Arrange for the tenant to move into the property.
- Liaise with the tenant and Landlord regarding any issues which may occur during the tenancy.
- Inspect the property at regular intervals.
- To carry out the general repairs and statutory obligations of the managing agent on the Landlords behalf.
- On termination or the agreement carry out a full move out inspection, collect keys, and arrange for the return of the tenant’s deposit subject to any damage, cleaning or missing items.
- Where the property remains unoccupied between letting periods, it must be distinctly understood that our management service does not include supervision of the property.
- The management service does not include collection of mail; a redirection service must be set up.
- A balance of one month’s rent will be held back from the Landlord’s funds at the start of the tenancy in the event of the tenant paying six months or more in advance. This sum will be held back to cover any costs incurred during the tenancy and the balance repaid to the Landlord at the end of the tenancy.
2.1 Tenant sign up and Full Management – 10% of the rents received.
2.2 Re sign fee on Full management £ nil for the life time of our relationship.
2.3 Finding new tenants, should the current ones give notice £150.00
2.4 To issue the current tenants with a Section 21 notice, and a rent increase letter £150.00
2.4 Full photographic inventory £105.00
2.5 Collection of landlord’s mail £25.00
3. Withdrawal of Instructions.
Where a Landlord withdraws the instruction to let the property after a tenant has been found and satisfactory references have been received, prior to a tenancy commencing a withdrawal fee of one month’s rent, subject to a £350.00 minimum fee will be charged to cover administration, marketing and any consequential cost.
4. Safety Regulations and Government Legislation.
The Landlord hereby warrants to the Agent that the Safety Regulations have been fully complied with in the property to be let. The landlord agrees to indemnify the Agent against any expenses or penalties that may be suffered as a result of a non-compliance of the property to the followings safety and government standards.
Furniture and Furnishings (Fire) (Safety) Regulations 1988-1998
Gas safety (Installations of Use) Regulation 1994 -1998
The General Product (Safety) Regulations 1994
The Plugs and Sockets (Safety) Regulations 1989
HMO regulations Housing Act 2004
HMO Licensing 6th April 2006
Selective Licensing 6th April 2006
EPC 1st October 2008
5. Landlord and Agent.
The Landlord agrees to provide all necessary information required by the Agent to undertake the service and that all instructions must be confirmed in writing. Any instruction made orally must also be given in writing. Any notice or written communications shall be sent in writing by post or email to the Landlords at the last known address or any later address as advised by the Landlord in writing.
6. Agent remuneration.
All fees and charges will be retained by the Agent out of all rents and monies received by them in accordance with this Agreement.
7. Permission to Let the Property.
The Landlord warrants that he is legally entitled to grant the tenancy created and has obtained any appropriate consent from any mortgagee or superior landlord or other interested party and the property agreed to be let is not subject to any restrictive or other covenants or stipulations which have not been disclosed to the tenant(s) and the observant(s) and performance of which would restrict or lessen the tenant’s enjoyment of the said property.
8. Termination of this Agreement.
Under the Full Management service, once a Tenancy has been created the Agreement between the Landlord and the Agent cannot be terminated until the end of the fixed term Tenancy. Where the Tenancy is Periodic, the Landlord is required to give two months in writing to the Agent.
9. Liabilities – Full Management Service.
The Agent has authority to carry out repairs including the replacement, maintenance or repair of any furnishings, fixtures or fittings within the property up to the amount stated in this Agreement, and the Landlord fully indemnifies the Agent against all costs relating to this. No liability shall be attached to any such claims caused by the Landlords negligence of such statutory obligations or regulations deemed necessary at the property as stated in this Agreement under ‘Safety regulations.
10. Liability of the Agent.
Any inventory or schedule of fixtures and fittings provided by the agent to the Landlord shall be a factual record of what is present at the Landlords property on the date recorded on such schedule and is not a record of the condition of any fixtures and fittings unless specifically referred to in such schedule.
No liability shall be attached to the Agent either in contract or in tort or otherwise for and loss, injury damage, or legal or other expenses arising out of:
- The Agent having reasonably relied upon information supplied by the Landlord.
- Any forecast or predication given by the Agent
- Any defect or failure to identify and defect in the property fixtures, fittings, furnishings or appliances whether or not such defect be apparent upon examination.
- Any failure of the tenant to pay any monies due to the Landlord or the Agent or comply with the Terms of the Tenancy Agreement.
The Landlord shall indemnify the Agent in respect of any claims made by any Third Party for any loss, injury, damage, costs and legal or other expenses.
The Agent shall not be liable to indemnify the Landlord in respect of any claims made by a Third Party for any loss, injury, damage, costs and legal or other expenses.
The Landlord authorises the Agent to refund to any tenant all or part of a deposit in the discretion of the Agent.
12. During void periods, Railton-Meeks will continue to manage The Property, however, cannot be held liable for any loss and/or damage arising from fire, flood or theft. If the Client requires supplies to be turned off or disconnected during this period, Railton-Meeks must receive instructions in writing and will arrange for the required contractor to attend at The Client’s expense. The Client is also advised to contact his/her insurance company should The Property be empty for longer than 30 days.
Railton-Meeks is not responsible for collecting the landlords mail. But will collect the mail if requested, and the landlord will incur a fee of £25.00 for the collection.
13. Dealing with Third Parties Railton-Meeks will liaise where necessary with The Client’s accountants, solicitors, superior landlords, managing agents and mortgagees.
14. Clients Money.
Client’s monies are held in the Railton-Meeks Property Management Ltd designated bank account with HSBC, Didsbury Branch.
15. Data Protection Act: All information concerning tenant or occupiers of property is confidential. All Landlords details are confidential, and the information will be held by Railton-Meeks strictly in accordance with the Data Protection Act.
16. Tenancy Deposit Scheme.
The ‘Deposit’ means the sum paid by the Tenant to the Landlord in respect of any damage or disrepair occasioned to the Property.
‘The Tenancy Deposit’ – The Agent Railton-Meeks Property Management Ltd a member of ‘The DPS’ (The Deposit Protection Service). The details are as follows:
The Deposit Protection Service
The Client confirms that the above information is accurate and that The Client has read and understood the terms and conditions contained within this document. The Client understands that he/she may have the right to cancel this agreement under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 within 14 calendar days from the date upon which it was signed and confirm that The Client wishes Railton-Meeks to commence the Property Management Service. The Client accepts that in signing this document The Client is bound by its entire contents.
Landlord: ______________________________ Date: __________________
Railton-Meeks Property Management Ltd
5a Parkfield Road South,
Last updated: 6 October 2018