Letting only

Valerie Rose Residential Management

PROPERTY MANAGEMENT
LETTING ONLY

Terms of Business

This agreement is made on the ……………….. date of …………………. 20….

Between ………………………………………………………………………………..
Hereinafter called the Landlord of the one part
and Valerie Rose Residential Management, Melford House, 65 Millgate, Newark, Nottinghamshire, NG24 4TU, hereinafter called the Letting Agents of the other part.

IT IS HEREBY AGREED AS FOLLOWS:

1. The Landlord/Landlords hereby appoints the Letting Agents to be his/her/their Letting Agents of and for all the property known as:

…………………………………………………………………………………..
…………………………………………………………………………………..

Situated in the County of …………………………Post Code …………….

Landlord(s) full name(s)

(Title) ……… (Christian name) ……………………. (Surname) …………………………

(Title) ………. (Christian name) …………………….. (Surname) …………………………

Landlord(s) present address: ……………………………………………….

……………………………………………………. Post Code ………………

2. The Agent will inquire into the suitability of any proposed tenant as may be deemed necessary by them, and will take up such references as the Agents in their absolute discretion see fit. The Agent will not be liable to the Landlord should it transpire that any of the references so requested have in fact been wrongly given.

Landlord(s) forwarding address:………………………………………………………….

………………………………………………………………….Post code………………………

Telephone No:………………………………..Mobile No:………………………………….

Email ………………………………………………………………………………………………

3. The Agent will prepare and arrange for the execution of a Tenancy Agreement between the Landlord and the Tenant.

4. The Agent will, at the commencement of tenancy prepare an inventory and schedule of the property; this will be rechecked at termination of tenancy. Any relevant costs relating to disrepair or other accountable issues will be charged to the tenant. The agent will use its best endeavours to obtain settlement of any sums necessary provided of course that this imposes no liability upon the agent to make good any deficiencies in the sums in the event of there being insufficient deposit or no means of contact with a tenant who has disappeared.

5. The Agent confirms that they will make every reasonable effort to ensure that the property is used in a good and tenant like fashion.

6. The Landlord confirms that the property will be adequately insured at all times including any period when it is unoccupied. In the event of the property let furnished the insurance to include the contents.

7. The Letting Agent will give to the tenant all relevant details for rents to be paid by Standing Order Mandate or online payments direct to the Landlords Bank Account.

7a. Landlords contact details relevant telephone numbers will be supplied together with any other details the Landlord wishes the tenant to hold.

8. The Letting Agent will hold the Tenant Deposit for the period of Tenancy. The Deposit held in a Client Deposit Account.

9. The Landlord confirms that where the property is subject to a mortgage or loan that the mortgage has been advised the property is to be let and that a copy of the approval will be sent to Valerie Rose Residential Management.

10. The landlord confirms that the Agent Letting fees and any other charges incurred and agreed by the agent to be deducted from the initial rental monies collected at the commencement of tenancy.

10a. Bank details for standing order or online monthly rental payments.

Please complete the following:

Bank:
Account name:
Account number:
Sort code:

11. Valerie Rose Residential Management will accept instructions for letting and or management on properties as Sole Agent only. Joint agency will not be considered for residential or managed properties.

12. We will require verification of identity, either photograph driving licence or passport together with confirmation of address.

THE TENANCY DEPOSIT

The Agent is a member of the Tenancy Deposit Scheme, which is administered by:

The Dispute Service Ltd
P O Box 1255
Hemel Hempstead
Herts
HP1 9GN

Telephone no. 0845 226 7827
Web. www.thedisputeservice.co.uk
Email. deposits@tds.gb.com
Fax. 01442 253193

A. If we the Agent are instructed by the Landlord to hold the Deposit, the Agent shall do so under the terms of the Tenancy Deposit Scheme.

B. The Agent holds tenancy deposits as Stakeholders.

At the end of the tenancy covered by the Tenancy Deposit Scheme

A. If there is no dispute we the Agent will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the Landlord, or repay the whole of the balance of the Deposit according to the conditions of the Tenancy Agreement with the Landlord and the Tenant. Payment of the Deposit will be made within 10 working days of written consent from both parties.

B. If, after 10 working days following notification of a dispute to the Agent/Member and reasonable attempts having been made in that time to resolve any differences of opinion, there remains an unresolved dispute between the Landlord and the Tenant over the allocation of the Deposit it will be submitted to the ICE for adjudication (subject to .3 below). All parties agree to co-operate with any adjudication.

C. When the amount in dispute is over £5,000 the Landlord and the Tenant will agree by signing the Tenancy Agreement to submit the dispute to formal Arbitration through the engagement of an arbitrator appointment by the ICE although, with the written consent of both parties, the ICE may at his discretion accept the dispute for adjudication.

The appointment of an arbitrator will incur an administration fee, to be fixed by the Board of The Dispute Service Ltd from time to time, shared equally between the Landlord and the Tenant. The liability for any subsequent costs will be dependent upon the award made by the arbitrator.

D. The statutory rights of either you/the Landlord or the Tenant(s) to take legal action against the other party remain unaffected.

E. It is not compulsory for the parties to refer the dispute to the ICE for adjudication. The parties may, if either party chooses to do so, seek the decision of the Court. However, this process may take longer and may incur further costs. Because it is a condition of the Tenancy Agreement signed by both parties, judges may refer the dispute back to the ICE for adjudication. If the parties do agree that the dispute should be resolved by the ICE, they must accept the decision of the ICE as final and binding.

F. If there is a dispute we must remit to The Dispute Service Ltd the full deposit, less any amounts already agreed by the parties and paid over to them. This must be done within 10 working days of being told that a dispute has been registered whether or not you or we want to contest it. Failure to do so will not delay the adjudication but The Dispute Service Ltd will take appropriate action to recover the deposit and discipline us.

G. The Agent must co-operate with ICE in the adjudication of the dispute and follow any recommendations concerning the method of the resolution of the dispute.

AS WITNESS the hands of the said parties the day and year first before written

SIGNED by the above named:- ……………………………………………………………….

In the presence of: … …………………………………………………………………………..

Address: …………………………………………………………………………………………

…………………………………………………………… Post code ………………………….

Occupation: ……………………………………………………………………………………..