Terms & Conditions for Landlords
I/We hereby instruct RentLocally.co.uk Ltd to act solely as my Agent in letting of my/our above property on the following terms.
All terms are quoted on a sole agency basis unless noted otherwise. Figures are quoted per Property and are exclusive of VAT.
Fees and Commissions
Fully Managed - An initial Letting Fee is applicable for every new tenancy. This will vary from region to region, and will be specified in your landlord agreement. Thereafter, an ongoing Management Fee of up to 15% (or as stated in your Landlord Agreement), will be deducted from your rental income on a monthly basis. The agreed Management Fee, is stated in your Contract. The Management Fee, will be calculated on the gross rental amount only. Where an existing tenant renews their lease for a further six months, the Lease Renewal Fee is £60. If the Landlord prefers that an existing tenant continues on a month to month (periodic) basis, after their initial 6 months tenancy, an Administration Fee of £25 is applicable.
Let Only - A let only package fee is chargeable and will vary from region to region. Please check your landlord agreement for your tailored pricing agreement. In the event that the Landlord withdraws the property prior to a tenant being found, a Marketing Termination Fee of £100 is applicable.Tenant Finder - A nonrefundable Tenant Finder Fee of £175 will be collected in advance from the Landlord, prior to marketing commencing. Other Fees - There are other fees which may be applicable from time to time. For a full summary of all of our fees, please refer to: http://rentlocally.co.uk/letting-and-property-service-prices/
Payment of Bills
We will pay, on the Landlord's behalf, any property specific bills that the Landlord is responsible for, such as for Council Tax and Utilities during void periods, communal stair lighting or block factoring, and deduct these from your rental income. If we are not in receipt of rental income, we will not pay such bills without first receiving funds from the Landlord.
Payment for Repairs
Unless by prior explicit instruction from the Landlord not to do so, we will automatically complete non-emergency repairs and maintenance, up to a maximum cost of £200.
If the cost of the repairs or maintenance is estimated by the contractor at more than £200, we will contact the Landlord for approval to proceed with the works. The Landlord may also choose to nominate a higher upper limit than £200 for this.
In the case of emergency repairs requiring immediate attention, we will automatically complete the work necessary to halt the emergency, then seek Landlord approval (often on the following working day) to complete any additional work identified as a consequence, subject to the total cost being in excess of the repairs limit at that time agreed with the Landlord. The cost of all repairs and maintenance will then be deducted from the Landlord's next rental income and itemised on their statement, except where an alternative arrangement has been agreed in advance with the Landlord. In the case of costly repairs (typically costing in excess of 75% of one months rent), we will collect payment in full, from the Landlord prior to instructing the works.
Repair costs offset against future rental income (Financial Assistance). Where a very costly repair, (typically costing more than one months rent) is to be offset against future rental income, we can offer a service to advance the landlord the funds for such repairs, provided that there is a current tenant in the property, that they are not in default of their rent and that an arrangement fee of 10% +VAT of the cost of the repair is paid to RentLocally. This is entirely at the discretion of RentLocally and may not always be available. We do not underwrite the costs of repairs without such a fee being agreed.
DSS Assisted Tenants
In the event that we may let your property to a DSS assisted tenant we will seek your prior approval before doing so. Please be aware that in most cases LHA (Local Housing Allowance) is paid in arrears and that the payment patterns do not match a monthly rental cycle and can be erratic. Additional risks may be damage to the property, longer periods with non payment of rent, antisocial behaviour and 'stop start' rent cycles. This is by no means the case with every DSS tenancy, however there is a higher incidence of these issues with this type of tenancy. Where benefits have been wrongfully claimed by tenants, paid by the local authority and remitted to the landlord, the local authority may seek to reclaim the benefit paid and it is the landlords responsibility to repay the benefit either to the council or to RentLocally.
You may only gain access to Your Property during an active Tenancy by prior agreement with the Tenant, unless in circumstances of a genuine emergency threatening life or the safety of the Property. RentLocally.co.uk will not be responsible for arranging access for other agents acting on Your behalf. Your tenants have a right to privacy in very much the same way as if they owned the property. Unannounced and unplanned visits are not permitted.
Personal Items in Property
Owner's personal items and items of sentimental value should be removed from the premises. We advise that you do not leave audio visual equipment in the property. Garages, Lofts and Outbuildings should be cleared of personal items with the exception of gardening equipment. RentLocally will not be deemed liable for the damage or loss of any personal items left in a property.
Scope of Periodic Inspection
The purpose of our regular inspections is to ensure that the tenant is looking after the property. The scope of this inspection does not cover defects to the building structure, external building problems, roofing problems and the like. The agent cannot be held liable for any hidden or latent defects.
Right to Terminate Our Agency
In respect of an active Tenancy arranged through Our Agency: You may terminate Our Agency by giving us 2 month's written notice, providing that such notice shall not expire earlier than the existing tenant vacating the property. Where the Landlord terminates Our Agency, the Landlord shall not enter into any tenancy agreement or contractual commitment of any nature, with any tenant introduced by RentLocally.co.uk either during or up to six months after the tenant has vacated the property. In the event that the Landlord does enter into a tenancy agreement or contractual commitment in contravention of the terms of this clause, then the Agent shall be entitled to claim compensation from the Landlord by way of equivalent to one months rent (+VAT).
Transfer of Obligations
We may transfer all of Our rights and obligations as Your agent to a third party who has been approved by Rentlocally.co.uk.
Where we manage your property, all tenants deposits will be retained under current legislation with an approved 3rd party custodial scheme, no interest is payable on these deposits. In the case of Let Only, deposits will be transferred to the landlord within 14 days of the lease start date. We charge an administration fee for the submission of the tenant deposit to an approved scheme of £25 + VAT. This covers the administration to submit it, serve the correct papers to the tenant, including posting the prescribed information, seeking the return of the deposit and then dealing with any disputed items at the end of tenancy.
Wear and Tear
The landlord will accept RentLocally's professional opinion on what constitutes reasonable wear and tear.
We will act as a Data Controller in respect of all data We hold on You, the Properties and the Tenant and We may share this data with Our suppliers.
Landlords Obligations and Legal Requirements
- The landlord will always make themselves available to discuss maintenance issues and repairs. In the event of the landlord not responding to a request for a repair, we will proceed with any such repair after having made all reasonable attempts to open a dialogue of communication. This being after a period of 3 days, attempting to discuss by email, telephone and SMS.
- It is recommended that the landlord retain at least one month in funds in order to leave a buffer for any voids or repairs. We do not advise renting a property where there is no excess on the rent to cover such normal occurrences such as repairs, management fees and voids. Typically we would recommend that the rent is 125% of your costs.
- The landlord should obtain consent from their mortgage lender where appropriate.
- The landlord should insure the property for buildings insurance and contents where appropriate. The landlord should seek specialist landlord insurance. Normal buildings insurance will not provide the necessary cover. We can assist with this.
- The landlord is required to provide a current and valid Energy Performance Certificate before marketing the property to let.
- The landlord is required to provide a current and valid Landlords Gas Safety Inspection certificate, before the property is tenanted and renew this annually.
- It is recommended that the landlord provide a current and valid Electrical Installation Certificate to prove that the electrical system is safe to use (Best Practices).
- The landlord has a legal obligation to provide safe smoke detection systems Revised October 2013. As a minimum the system should be:
- Interlinked and Mains Wired
- One heat alarm in every kitchen
- One functioning smoke alarm in every room which is frequently used by the occupants for general day time living i.e. a living room.
- One functioning smoke alarm in every circulation space, such as hallways and landings.
- The landlord should provide clear instructions on how to operate the central heating systems, hot water systems and for any appliances provided.
- Ensure that the property has secure and functional window and door locks.
- Provide 1 Set of Keys per tenant and 1 extra set.
- The landlord should pay any factoring charges directly.
- The landlord should Inform HMRC that you are conducting a property rental business and make the appropriate tax returns.
- Ensure that the property is in good repair both internally and externally and meets the legal requirements in the Housing (Scotland) Act 2006: The Repairing Standard.
- Acknowledge that RentLocally are not responsible for routine supervision of the property whilst it is unoccupied, other than while conducting viewing appointments.
- The landlord must comply with all relevant legislation, must not illegally evict or harass a tenant.
- If furniture is provided it must comply with the furnishings (fire safety) regulations 1998.
- You must register as a landlord with the appropriate local authority.
If You have a complaint about the service You have received from Us, You should put Your concerns in writing to RentLocally.co.uk Head Office at the following address:
Unit 1/109 Swanston Road
Your correspondence will be acknowledged by email within 3 working days. The matter will then be investigated and a full response emailed to You within 15 working days.