Terms and Conditions of Business
Lettings & Property Management
1. Introduction – Important Information. Please Note. 12. The meaning of words 13. Letting Services 34. Management Services 45. Your responsibilities 76. Our Fees 87. Limitations – YOUR ATTENTION IS PARTICULARLY DRAWN TO THIS CLAUSE 108. Anti-Money Laundering 119. Email and electronic data and documents 1110. Termination 1211. Your right to cancel 1212. Communication and Complaints 1213. Transfer of Business 1314. Variation 1315. Assignment and Delegation 1316. Severance 1317. Governing Law and Jurisdiction 13
1. Introduction – Important Information. Please Note.1.1 This document records the terms of a legally binding agreement which will govern the relationship between you and us. Unless we otherwise agree in writing with you, the terms set out in this agreement will apply to your current instructions as recorded in this agreement and will govern the relationship between you and us in respect of all and any future instructions that you give us to let and/or manage your Property.1.2 Please sign and date the enclosed copy of this agreement and return it to us immediately. Before you sign and return the copy, please read the agreement carefully. If you wish to have any part of it explained to you, please contact us.1.3 Should you instruct us and should we agree to commence providing services to you at a time when you have not signed and returned the enclosed copy, your instructions to us to commence providing services will constitute acceptance of all of our terms. We will nevertheless require that you sign and return the enclosed copy materials for our records at the earliest opportunity.1.4 The money that you will have to pay to us for the services that we provide is set out in clause 6 below. You will note and understand that you will have to pay us a renewal fee if your tenant introduced by us stays in your property longer than the date they are supposed to leave under their initial tenancy agreement whether or not we negotiate any new tenancy agreement and regardless of the basis on which the tenant stays on in your property. So for example, if your tenant signs a tenancy for two years but stays for a third year, you will be obliged to pay us a fee for the initial two year letting and an additional fee for the third year because the tenant has stayed for the third year too. Please read clause 6.5 below for full details.2. The meaning of words“we”, “our”, “us” means Compton Reeback Limited trading as Compton Reeback of 75 Castellain Road, Maida Vale, London, W9 1EU;“you”, “your” means the owner of the Property or their nominated agent with whom we have entered into this agreement;“Abortive Fee” means the fee payable by you to us in accordance with clause 6.10;
“Assured Shorthold Tenancy” has the meaning given to that term by the Housing Act 1988 (as amended);“Connected” has the meaning given to that term by section 839 of the Income and Corporation Taxes Act 1988;“Deposit” means any deposit paid by the Tenant prior to the start of the Tenancy Agreement and in accordance with its terms;“Fees” means any and all of the fees payable by you in accordance with clause 6;
“Float” means the float referred to at clause 4.15;
“Letting Service Fee” means the fee payable by you to us in accordance with clause 6.2;
“Letting Services” means the services to be provided by us in accordance with clause 3;
“Management Services” means the services to be provided by us in accordance with clause 4;
“Particulars” means the marketing literature relating to the Property and details of the Rent which you seek;“Premium” means the sum of money payable to you under the terms of a Premium Lease;“Premium Lease” means a lease under which the rent for the duration of the lease is paid in advance;“Property” means the freehold or leasehold property or properties detailed on the appended Confirmation of Instruction form under the heading “Address of the Premises to be let” together with any other present or future freehold or leasehold property in respect of which you instruct us to act;“Prospective Tenant” means any person to whom we introduce the Property with a view to them becoming a Tenant;“Regulations” means The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013;“Renewal Fee” means the fee payable by you to us in accordance with clause 6.5;
“Renewed Tenancy” means any continuation, extension, holding over or renewal of a Tenancy Agreement whether in writing or verbal or created by operation of law;“Rent” means the rent payable to you by a Tenant in accordance with the terms of a Tenancy Agreement and/or a Renewed Tenancy;“Sale Fee” means the fee payable by you to us in accordance with clause 6.11
“Services” means the services to be provided by us in accordance with clauses 3 and 4;
“Short Let” means a Tenancy Agreement or a Renewed Tenancy, the terms of which is for 26 weeks or less;“Tenancy Agreement” means a tenancy agreement or Premium Lease, whether in writing or verbal or created by operation of law, entered into between you and a Tenant in respect of the Property;“Tenancy Deposit Scheme” means a statutory tenancy deposit holding and protection scheme in accordance with the Housing Act 2004 relating to Assured Shorthold Tenancies; and“Tenant” means any person (or any person Connected with such a person) introduced to you or the Property by us who enters into a Tenancy Agreement with you.
3. Letting ServicesIntroducing Tenants
3.1 We will endeavour to find you a suitable Tenant. In order to achieve this, we will:(a) view the Property and agree with the Rent;(b) advertise the Property to Prospective Tenants using our established marketing methods (possibly including the erection of a “To Let” board outside the Property);(c) if appropriate, arrange for and accompany Prospective Tenants to view the Property;(d) inform you of any offers received from Prospective Tenants and negotiate terms between them and you; and(e) if appropriate, once agreement in principle is reached with a Prospective Tenant, obtain personal data in respect of the Prospective Tenant for you to review and satisfy yourself as to the suitability of the Prospective Tenant to become a Tenant. The data we obtain might include: (i) for people and business partnerships – two references or a report from a credit reference agency in respect of each person;(ii) for public limited companies listed as a “FTSE 500” company – a letter from that company confirming that the person who will (or whose family will) occupy the Property under the Tenancy Agreement is their employee and that they consider him to be of good character and a suitable occupant; and(iii) for any other company or limited liability partnership – a search undertaken at Companies House.3.2 We will endeavour to conclude the terms of the Tenancy Agreement and ancillary matters with the Prospective Tenant, which will include:(a) following your approval of any personal data referred to in clause 3.1(e), facilitate the signing up by the Prospective Tenant to the Tenancy Agreement;(b) following receipt in cleared funds of the Rent in respect of the first rental period and any Deposit, permitting the Tenant to enter into occupation of the Property; and(c) paying over to you any Deposit and Rent received after deduction of our Fees in accordance with clause 6.Deposits
3.3 We will endeavour to obtain a Deposit from a Prospective Tenant.3.4 If we obtain a Deposit and we hold the Deposit, we will do so as stakeholder on behalf of both you and the Tenant (not just for you). As stakeholder, we will be unable to release the Deposit or any part of it either to you or the Tenant without the other party’s consent. We will retain any interest that is earned on the Deposit to cover our bank and administration costs.3.5 If the tenancy that you grant under the Tenancy Agreement is an Assured Shorthold Tenancy, we will hold any Deposit that we obtain under the terms of a Tenancy Deposit Scheme and we will serve on the Tenant the statutorily prescribed information.3.6 We may choose to use any Tenancy Deposit Scheme from time to time, however the Tenancy Deposit Scheme in use by us as at the date of this agreement is administered by:
The Dispute Service Ltd
PO Box 1255
Tel: +44 (0) 845 226 7837Fax: +44 (0) 1442 253 193Email: email@example.comWeb: www.thedisputeservice.co.uk
3.7 If we obtain a Deposit and you wish to hold the Deposit yourself, you will be legally obliged to hold the Deposit in accordance with the terms of your chosen Tenancy Deposit Scheme and to comply with its initial requirements, including but limited to registering the Deposit and serving statutorily prescribed information on your Tenant.3.8 You agree to indemnify us against any loss, claim, demand, liability, cost or expense incurred or suffered by us arising out of your failure to comply either with clause 3.7 above or with any of your statutory obligations in relation to the Deposit.Renewal
3.9 We will undertake a review of the terms under which you have let the Property and the prevailing market conditions (the “Market Review”) approximately three months before the contractual term of the Tenancy Agreement is scheduled to expire. We will at this stage contact you to remind you that the Tenancy Agreement is due to expire. We will advise you as to the market conditions and seek your instructions as to whether you would like to extend the contractual term of the Tenancy Agreement.3.10 Provided that you expressly instruct us to do so following the Market Review, we will write to the Tenant seeking to negotiate terms of a Renewal Tenancy with the Tenant. 3.11 Once we have made contact with the Tenant, we will enter into negotiations on your behalf with the Tenant as appropriate regarding any amendments to the terms of the Tenancy Agreement, including in particular any new Rent payable, the new term of the tenancy and any early termination provisions.3.12 We will then facilitate the signing up by the parties of a revised Tenancy Agreement or appropriate memorandum for renewal/extension, i.e. a Renewal Tenancy.3.13 The Renewal Fee set out in clause 6.5 below will be payable in the event that the Tenant remains in occupation of the Property beyond the date on which they are supposed to leave under the Tenancy Agreement regardless of whether they do so pursuant to a revised Tenancy Agreement or otherwise. So if the Tenant remains in occupation of the Property or renews, extends, holds-over and/or enters into a new agreement or arrangement with you as a consequence of which you receive Rent or a Premium beyond the term of the Tenancy Agreement, you will be liable to pay to us the Renewal Fee.4. Management ServicesRent
4.1 We will receive Rent from the Tenant. Following receipt of Rent by us in cleared funds, we will pay it directly into your bank account after we have deducted any sums that you are obliged to pay to us under this agreement. Liaison & Correspondence
4.2 We will liaise with the Tenant and anyone else in respect of matters or complaints relating to the day-to-day running and management of the Property. If after a reasonable attempt, we are unable to satisfy the Tenant or the person contacting us and they continue with their complaints, we will inform you that we have tried to resolve the complaint but have reached a stalemate. We will then inform the Tenant or the person complaining that they should refer their complaint to the relevant dispute resolution forum.
4.3 If, at the end of the Tenancy Agreement, we are holding a Deposit, we will provide a fair and equitable service to both you and the Tenant in respect of the party to whom the Deposit should be paid or as to the amount due to both you and the Tenant. We will comply with the rules of the Tenancy Deposit Scheme and try to agree the deductions to be made from the Deposit with the Tenant and you. However, if such an agreement is not reached within the time specified in the Tenancy Deposit Scheme, the matter will be submitted to the Tenancy Deposit Scheme’s alternative dispute resolution procedure and you (not us) will be responsible for conducting matters relating to the Deposit from that point forward. 4.4 If, at the end of the Tenancy Agreement, you are holding a Deposit, we will notify the Tenant that you (and not us) are responsible for administering the Deposit. Statements
4.5 We will send you regular statements of account relating to all transactions undertaken on your behalf. Duplicate statements are available at a cost of £12 inclusive VAT.Accounting
4.6 When specifically requested by you, we will liaise with your nominated accountants and HMRC in respect of your liabilities under the Finance Act 1995 as a consequence of us receiving Rent as your agent.4.7 If you are not resident in the UK for tax purposes, we are liable to account to HMRC for income tax upon Rent at basic rate unless HMRC has issued us with an approval number on your behalf. In a case where HMRC has not issued us with an approval number on your behalf, we will deduct a sum equivalent to the prevailing rate of basic rate income tax from time to time from the Rent received, and as required by law will prepare and submit quarterly statements to HMRC and account for tax so deducted for which we will charge a quarterly administration fee of £30 plus VAT to all non-resident landlords. All sums withheld will be paid into a non-individually designated client’s tax holding account. If any interest accrues in respect of these monies before they are remitted to HMRC we will retain such interest towards our bank and administration costs.4.8 For the avoidance of doubt, if we pay to HMRC any sums of money or an amount of income tax on your behalf from our own resources because we are not holding your funds, you hereby agree to indemnify us in respect of, and to repay to us on demand, any such sums paid to HMRC.Cleaning
4.9 If we consider it necessary, we will arrange for a cleaner to clean the Property before the Tenancy Agreement commences. If the Property needs cleaning subsequently we will arrange cleaning as required from time to time. We do not employ cleaners and you will be liable for the cleaner’s fees. If, however, these costs are recoverable from the Deposit, we will advise you accordingly.Repairs & Maintenance
4.10 During the Tenancy Agreement, we will arrange any routine repairs or maintenance that are necessary either to the Property or to its fixtures, fittings and contents to be carried out by appropriate building contractors. Our agreement in this regard is limited as follows: (a) We will not arrange repairs or maintenance which cost more than £500. However, in such a case, we will notify you of the need for the repairs. If you then require our assistance to arrange works, we can do so but if the cost of any work exceeds £1,000, an administrative charge of 12% inclusive of VAT (10% + VAT) of the cost of the works will be payable by you to us;(b) You (not us) will be liable for the cost of the repairs and maintenance; (c) We shall only arrange to carry out repairs or maintenance we consider necessary for the proper performance of your obligations under the Tenancy Agreement. We will not be obliged to arrange to carry out repairs or maintenance where we are holding insufficient sums in the Float to carry out such works. If we hold insufficient funds in the Float, we will give you written notice of the circumstances and ask you immediately to replenish the Float;(d) We have your absolute discretion to spend up to £500 from the Float in respect of each maintenance or repair matter. In the event that there are insufficient funds in the Float, we have your authority at our election and discretion to carry out works in any event. In that case, we have your authority to recover any disbursements incurred or to be incurred by us from Rent later received by us on your behalf from time to time. Alternatively, we will ask you to pay the costs of repairs or maintenance as necessary which you agree to pay immediately upon receipt of our written request;(e) In the event of an emergency at the Property (for example, but not limited to, burst pipes, broken heating systems or the effects of a fire) we have absolute discretion, subject to our having tried and been unable to contact either you, or your designated agent at the telephone number(s) you have given us, to spend such funds as we consider appropriate from the Float. In the event that there are insufficient funds in the Float, we have your authority to recover any disbursements incurred by us or to be incurred from Rent received by us in the future on your behalf from time to time. Alternatively, we will submit any relevant invoices to you for immediate payment; and(f) Repairs and maintenance will be carried out subject to the availability of suitable contractors.Gas Safety
4.11 If your Property has gas appliances, you (and your appointed representatives) are legally obliged to have all gas equipment checked and approved annually by a Gas Safe registered installer and to keep accurate dated records noting any defects and works carried out for two years and confirming the equipment is in order. You are also obliged to provide the Tenant with copies of said reports and records. We will obtain the necessary report and keep records on your behalf and supply copies to the Tenant. You will be obliged to pay the invoice rendered by the Gas Safety engineer. If you instruct us not to obtain the necessary report and keep records on your behalf, we will write to the Tenant and inform him that you will be responsible for doing so.Electrical Safety
4.12 You have a legal responsibility to ensure the Property is safe. We recommend that you comply with the IEE Wiring Regulations (BS 7671) and that you carry out a full Periodic Electrical Inspection Report regularly. The report consists of a detailed inspection and testing of the fixed wiring within the Property which highlights the condition of the installation and makes recommendations for remedial works that may be required. Unless you expressly instruct us to do so we will not instruct a contractor to carry out such reports on your behalf. If you do instruct us to assist in this regard, you will be obliged to pay the invoice rendered by the contractor. For further information regarding BS 7671 please refer to www.odpm.org.uk (and select Building Regulations).Energy Performance
4.13 You are required to provide an Energy Performance Certificate (EPC) which must be made available free of charge to a Prospective Tenant at the time that we commence marketing the Property. Unless you instruct us to the contrary, we will not arrange for an EPC to be carried out on your behalf. If you do ask us to assist in this regard, the cost of the EPC will be borne by you.Legionella and Legionnaires’ Disease Risk Assessment
4.14 You are responsible for the water system(s) in the Property and you are responsible for ensuring that the risk of exposure to legionella in the Property is properly controlled. This means that you have a duty to assess the risk from exposure to legionella to the Tenant and guests. Unless you instruct us to the contrary, we will not arrange for a Legionella Risk Assessment to be carried out on your behalf. Again, if you do ask us to assist in this regard, the cost of the risk assessment will be borne by you.Float
4.15 You agree that we will maintain a float for repairs, maintenance, service charge and ground rent from Rent that we receive on your behalf from time to time. If Rent is paid monthly, a float of £500 will be retained. If Rent is paid quarterly, a float of £1000 will be retained. If Rent is paid annually or bi-annually or in advance for the duration of the term, we will require a larger float and will agree the appropriate figure with you.
Service Charge and Ground Rent
4.16 We will, unless you instruct us in writing to the contrary, pay service charges and ground rent provided that service charge and ground rent invoices are sent to us and that we hold sufficient money in the Float. Where we do not, and service charge and ground rent invoices are sent to us, those invoices will be sent directly to you for your attention.Inventory
4.17 We will organise an inventory of furniture, fittings and condition to be prepared by an inventory clerk in respect of the Property when the Tenant moves in and out. It will usually be the case that the Tenant will be responsible for the cost of the check-out report and that you will be responsible for the cost of the check-in report.Identity of contractors
4.18 We will endeavour to use third party contractors recommended by you but you agree that we will decide which third party contractors to use and that we are not obliged to use any contractors proposed by you. This is because we are bound by the Code of Practice of The Property Ombudsman, which states that we must be prudent in our selection, appointment and use of contractors and that we should take reasonable steps to ensure they hold adequate and appropriate professional indemnity insurance and professional qualifications.Preparing Property before the commencement of the Tenancy Agreement
4.19 We can, if you wish, assist in preparing the Property before the Tenant moves in by, for example, arranging for rubbish to be cleared out, furniture to be moved/purchased, or for the Property to be cleaned. In each such case we will charge a separate fee which we will agree with you. You will also be liable to pay the appropriate contractor employed.General
4.20 We will not be responsible for providing services to any other party.4.21 In the event that you wish us to undertake other work beyond this clause 4, we shall agree to a description of that work in writing and these terms (or any amended terms agreed with you at the time in writing) will govern our relationship with you in respect of that other work.5. Your responsibilities5.1 It will be your responsibility to:(a) pay our fees, disbursements and any other sums due to us from time to time in accordance with this agreement;(b) provide prompt and accurate instructions and advise immediately of any changes in those instructions. In the event that you provide incorrect information to us which causes us to suffer loss or causes legal proceedings to be taken, you agree to reimburse and compensate us for all losses suffered;(c) provide such materials and information as we may require from time to time in order to perform the Services and to satisfy any statutory obligations;(d) cooperate with us reasonably;(e) make certain that the Property and its fixtures, fittings and contents are, at all times, properly and adequately insured whether the Property is occupied or not; (f) obtain all necessary consents that you may need from your mortgagee and/or your superior landlord and/or your insurers to enter into the Tenancy Agreement;(g) provide to us details of any obligations or restrictive covenants under any leases or contracts relating to the Property which the Tenant will be duty bound to observe. We will not ask you for such details separately but we do include an appropriate provision to comply with such provisions in our standard tenancy agreements and we will forward any details that you provide to the Tenant; and(h) comply with all relevant laws and regulations, including but limited to:(i) The Furniture and Furnishings (Fire) (Safety) Regulations 1988 and the Furniture and Furnishings (Fire) (Safety) (Amendment) Regulations 1993 which require all upholstered furniture, soft furnishings, beds, mattresses, pillows and cushions supplied in the Property to comply with certain safety standards;(ii) The Gas Safety (Installation and Use) Regulations 1998 as amended; (iii) The Electrical Equipment (Safety) Regulations 1994 and IEE Wiring Regulations (BS7671);(iv) The various Houses in Multiple Occupation Regulations implementing the terms of the Housing Act 2004; and(v) The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007;(vi) Duties under the Health and Safety at Work etc. Act 1974 Please note that this is not an exhaustive list of your statutory obligations as a landlord and you should seek independent legal advice should you require further guidance.
5.2 You will indemnify us in respect of any loss, claim, demand, liability, cost or expense incurred or suffered by us in the course of carrying out any of our duties as your agent pursuant to this agreement.5.3 We shall be entitled to terminate this agreement if you do not comply with any of your responsibilities under this agreement.6. Our Fees6.1 Our fees for providing the Services are as set out below.Letting Service Fee
6.2 The Letting Service Fee payable by you: (a) in respect of a Tenancy Agreement the initial fixed term of which is 6 months or longer will be:(i) where we are acting as your sole agents, 9.6% Inclusive of VAT (8% plus VAT); or(ii) where we are acting as one of multiple agents, 12% Inclusive of VAT (10% plus VAT); and(b) in respect of a Tenancy Agreement the initial fixed term of which is less than 6 months will be 24% Inclusive of VAT (20% plus VAT),in each case of the gross Rent, Premium or other money payable by the Tenant throughout the initial term of the Tenancy Agreement and any extension or renewal thereof, whether fixed term or periodic and whether or not we are instructed to act on your behalf in respect of any such extension or renewal and in each case subject to a minimum Letting Service Fee of £900.00 Inclusive of VAT (£750 plus VAT).
6.3 The Letting Service Fee will become payable in full when you enter into a Tenancy Agreement with a Tenant introduced by us.6.4 In the event that your Tenant lawfully terminates the Tenancy Agreement early under a break clause contained in the Tenancy Agreement, you agree that we will have a 30-day exclusive period from the date that the Tenancy Agreement ends to re-let the Property (not inclusive of bank/national holidays). If we do not find a new Tenant within that period, we will refund any Letting Service Fees or Renewal Fee overpaid to you on a pro-rata basis based on the fees you paid by reference to the term of the Tenancy Agreement. In all other circumstances where the Tenant vacates the Property before the end to the Tenancy Agreement term, no refund will be payable.
6.5 If the Tenant remains in occupation of the Property beyond the expiry of the initial fixed term under a Renewed Tenancy howsoever arising, then you will pay to us a Renewal Fee:(a) in respect of the first year of any such Renewed Tenancy, of(i) 7.2% Inclusive of VAT (6% plus VAT), where we are acting as your sole agents; or(ii) 10.8% Inclusive of VAT (9% plus VAT), where we are acting as one of multiple agents; and(b) in respect of each subsequent year of any such Renewed Tenancy, of:(i) 7.2% Inclusive of VAT (6% plus VAT), where we are acting as your sole agents; or(ii) 9.6% Inclusive of VAT (8% plus VAT), where we are acting as one of multiple agents.6.6 The Renewal Fee will become payable in full upon the earlier of:(a) receipt either by you or us of the first payment of Rent after the expiry of the initial fixed term of the Tenancy Agreement; or(b) the date on which the first payment of Rent falls due under the terms of the Renewed Tenancy howsoever arising.Management Service Fee
6.7 If you instruct us to provide Management Services, you will pay to us a Management Service Fee. 6.8 The Management Services Fee payable by you will be: (a) for as long as we provide both Lettings Services and Management Services to you, an amount equal to 7.2% Inclusive of VAT (6% plus VAT); and(b) where we are providing Management Services only, an amount equal to 8.4% Inclusive of VAT (7% plus VAT),in each case of the gross Rent, Premium or other money payable by the Tenant under the Tenancy Agreement during the period in which the Management Services are provided and in each case subject to a minimum monthly Management Services Fee of £78.00 Inclusive of VAT (£65 plus VAT).
6.9 The Management Service Fee will be payable by you in advance at the same frequency and on the same dates on which Rent falls due from the Tenant under the Tenancy Agreement.Abortive Fee
6.10 If, for any reason, you withdraw or decide not to enter into a Tenancy Agreement with a Prospective Tenant following your agreement in principle in accordance with clause 3.1(e) above, you will pay to us an abortive fee of £600 inclusive of VAT (£500 plus VAT).Sale Fee
6.11 In the event that a Tenant or any other third party introduced by us subsequently purchases a freehold or leasehold interest in the Property, you will pay to us a sale fee equivalent to 2.4% Inclusive of VAT (2% plus VAT) of the purchase price of the Property, which will be due and payable upon completion of any such sale.
6.12 In addition to the fees set out elsewhere in this clause 6, we will charge you for disbursements and other expenses incurred by us in accordance with this agreement.6.13 You agree that we may, at our sole discretion, deduct our Fees from the Rent, the Deposit, the Premium or the Float. Alternatively, we may choose to invoice you for our Fees which will, in such a case, be payable within 7 days of the invoice date.6.14 We will charge you interest at 4% above the base rate of Barclays Bank Plc from the date on which any money falls due to us under this agreement until the date of payment. Interest will accumulate on a daily basis and will be compounded monthly.6.15 Where we are instructed jointly by more than one person (this agreement having been sent to all such persons or each such person having received an agreement in substantially the same form as this one), each person will be jointly and severally liable to us for the full amount of all Fees (including costs and disbursements) incurred on their collective behalf, regardless of the extent to which any one client benefits from our work and regardless of any agreement between those clients as to their respective contributions to our total Fees.6.16 We will often incur direct expenses to third parties in the course of providing our services to you, including (but not limited to) referencing companies, plumbers, electricians, builders, cleaners, inventory clerks, couriers, insurers, company search fees, land registry fees, key cutting fees, travel expenses, telephone charges (including conference calls) and bank charges. We will charge those expenses to you.6.17 We are required by law only to send a bill to our client (i.e. you). We are not permitted to address our bill to any third party (even if it is a related group company). If you ask us to undertake work for another related company and we agree to do so, that other company will become our client and we will submit our bill to that company. However, you will remain jointly responsible with that other company for payment of our bills.6.18 If you have any queries about any invoice, you should contact us straight away.6.19 You may not remit to or deposit any funds in our client account without our express consent in writing. If our policy on this issue is contravened, we reserve the right to charge for any additional checks we deem necessary regarding the source of the funds. If we are unable to satisfy ourselves as to the source of such cash funds, we may cease acting for you.6.20 Where we receive any money from you or from a third party on your behalf, we shall be entitled to apply that money in payment of any amounts due to us from you.6.21 All Rent received by us will be paid into a client account on your behalf. All monies payable to us pursuant to this agreement will, in the first instance, be deducted from the Rent received. 6.22 You agree that we will keep all interest (if any) earned on any money we hold on your behalf from time to time notwithstanding that you would otherwise be entitled to such interest.6.23 It is possible that in the normal course of business we will be offered commissions by third parties to whom we might introduce you. We wish to make it clear that we do not solicit such commissions and that we select such third parties on the positive basis of what we know of their competence and/or availability and not because of their willingness to offer us inducements. If, however, they do offer us a commission or other form of remuneration and we are satisfied that the service they provide is as good as and/or no more expensive than others with whom they compete, and that our clients’ interests are therefore not adversely affected, then we may accept such commissions for our own benefit and not account for them to our clients. 6.24 We will charge administration fees to the Tenant from time to time. You agree that we may administer and charge such fees for our own benefit and not account for them to you.7. Limitations – YOUR ATTENTION IS PARTICULARLY DRAW TO THIS CLAUSE7.1 Our duty to you does not extend beyond the scope of your instructions as set out in this agreement. In particular we will not be obliged to provide any services other than the Services.7.2 Regardless of any instructions given to us, we do not provide financial or legal advice or accept responsibility for the financial or legal consequences of any matter on which we are instructed or in which we become involved on your behalf. Should you require any such advice, you should seek it from an appropriately qualified professional adviser. Alternatively, should you ask us to do so, we will provide the names of independent financial and/or legal advisers but we will do so without responsibility on our part. 7.3 While we will take all reasonable steps to procure the services of competent contractors, we do not accept responsibility for the suitability of those contractors nor for any loss or damage caused to you by those contractors. You are invited to meet with any of the contractors we use to satisfy yourself as to their suitability.7.4 We cannot be held responsible for any failure by the Tenant to comply with their obligations either under the Tenancy Agreement or by law. We accept no liability for any loss or damage that you may suffer unless such loss or damage is caused as a direct result of our failure to comply with our obligations under this agreement.7.5 If you request our assistance in serving statutory notice to terminate the Tenancy Agreement under the Housing Act 1988, we will have no liability whatsoever for any errors or omissions in the statutory notice.7.6 In the course of providing the Services, we will neither actively inspect the Property nor supervise the activities of the Tenant.7.7 Our responsibility for providing the Services to you will cease when this agreement comes to an end unless otherwise expressly agreed in writing. After our responsibility to you has ended, other steps may need to be taken in the future to further or protect your interests. For example, the Property will need cleaning, painting, repairing or, if vacant, it will need to be carefully secured and regularly inspected. We shall not be responsible for any such matters unless otherwise expressly agreed in writing whereupon further fees may be charged.7.8 Our liability to you in respect of breach of contract or breach of duty or negligence or otherwise arising out of or in connection with our engagement or the Services shall be limited to that proportion of the loss or damage (including interest and costs) suffered by you that is directly caused by us having regard to the contribution to the loss and damage in question caused by any other person responsible and/or liable to you for such loss and damage (loss and damage having the same meaning as in the Civil Liability (Contribution) Act 1978) and our total liability under this agreement shall not, in any event, not exceed £25,000. We shall not be liable to you for any consequential losses suffered by you as a result of any act or omission on our part. Nothing in this clause 7.8 shall operate to exclude our liability for death or personal injury.8. Anti-Money LaunderingWe are required by the Money Laundering Regulations 2007 to undertake enquiries at the outset of this agreement (and possibly at later stages also) to ensure that we have ascertained and verified the identity of our client, and have understood the source of all funding to be used by you in any transaction. We will discuss with you the materials we need you to provide to us. We may pass the data you provide to us to an ID verification provider in order to verify your identity for anti-money laundering purposes and this verification process may include a credit reference search. Please note that we are not permitted to commence or continue providing any services to you until all requested materials have been provided. Please therefore provide the requested materials as soon as possible.
9. Email and electronic data and documents9.1 All our staff have access to email and other electronic document management and communication systems. You agree that we may, unless you instruct us to the contrary in writing, send and store information, advice and documents (whether confidential or otherwise) by email or by other electronic methods. 9.2 Use of internet, email and electronic data and documents carries certain risks. Confidentiality may be breached, messages may be lost or delayed, or may not be read, and viruses may be transferred through the use of email. We cannot accept responsibility for loss which you suffer as a result of the use of internet email for communication between us or between this firm and third parties. 9.3 If you wish us to use a method of communication or storage other than emails and other electronic document management and communication systems, please contact us to make appropriate arrangements.10. TerminationLetting Services
10.1 You may instruct us to cease to provide you with Letting Services at any time prior to us introducing a Tenant either to you or the Property unless we are acting as your sole agents in which case you may not instruct us to cease provision of Letting Services during the term of the agreed sole agency.10.2 If you terminate this agreement for any reason but you later enter into a Tenancy Agreement or a Renewal Tenancy with a Tenant introduced by us, you will be liable to pay the Letting Service Fee or Renewal Fee (as applicable) in full.Management Services
10.3 You may instruct us to cease providing you with Management Services at any time after a period of six months has elapsed since the date on which we commenced provision of Management Services by giving us one month’s prior written notice.General
10.4 We may cease acting for you (without notice, if we deem appropriate) in any of the following circumstances:(a) you fail to give us proper, clear and timely instructions; (b) we believe that you have lost confidence in our services;(c) you fail to give us the cooperation which we are reasonably entitled to expect; (d) our continuing to act would be impractical, unethical or unlawful; (e) we have a conflict of interest; (f) you fail to pay any amount to us when due; or(g) in any of the other circumstances expressly stated in this agreement.10.5 On termination of this agreement by either of us or upon the cessation of the provision of either Letting Services or Management Services for any reason:(a) any amounts owed by you to us under this agreement in respect of the period up to the date of termination will become immediately due and payable; and(b) you agree that we may retain all papers which we are holding in relation to the Property or the tenancy until all such amounts have been paid.11. Your right to cancelIf you are a consumer and you enter into this agreement otherwise than at our offices, the Regulations apply to this agreement, and you have the right to cancel this agreement for any reason within 14 days from the day of the conclusion of the agreement (the "Cancellation Period"). You will lose the right to cancel if within the Cancellation Period we introduce you to a Tenant with whom you subsequently enter into a Tenancy Agreement and the Letting Service Fee will be payable in full. If you exercise your right to cancel within the Cancellation Period, you will be liable to pay to us an amount proportionate to the Services that have been provided prior to your cancellation. If you wish to exercise your right to cancel this agreement within the Cancellation Period, you must inform us of your decision to cancel by a clear statement (e.g. by letter or email) and you may, if you wish, use the form provided for this purpose in the Appendix to this agreement.
12. Communication and ComplaintsWe are confident of providing a high quality of service in all respects. If, however, you have any queries or concerns about our work for you, please refer to our complaints procedure which is available both on our website (www.comptonreeback.co.uk) or in hard copy upon request and which contains details of how you can refer your complaint to The Property Ombudsman if you are not satisfied with our response.
13. Transfer of BusinessIf at any time our business is transferred to a successor organisation (including a company or another limited liability partnership) all work on which we have been instructed by you may be carried out by the successor organisation and references to us in this agreement shall from the date of the transfer be interpreted as references to the successor organisation.
14. VariationNo variation of this agreement shall be effective unless it is in writing and signed by us.
15. Assignment and DelegationWe may at any time assign any of our rights or subcontract or delegate in any manner any or all of our obligations under this agreement to any third party.
16. SeveranceIf any provision or part-provision of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this agreement.
17. Governing Law and Jurisdiction17.1 The agreement between us shall be governed and construed in all respects by English law. 17.2 The courts of England and Wales shall have jurisdiction in respect of any dispute between us (including any dispute in respect of the Services or amounts owed by you to us). You may only bring proceedings against us in the courts of England and Wales. We may bring proceedings against you in any other jurisdiction, including (without limitation) any jurisdiction in which you are resident, domiciled, have assets or are incorporated and you unconditionally submit to all such jurisdictions.[INSERT CONFIRMATION OF INSTRUCTIONS FORM]
To: Compton Reeback, [ ] :
I/We[*] hereby give notice that I/We[*] cancel my/our contract for the supply of [Letting Services] [and] [Management Services] [*], in respect of [insert details of property].
Signed (only if form notified on paper):
[*] Delete as appropriate
Confirmation of Instruction
Compton Reeback is unable to act on your behalf without written instruction to do so. If you wish to instruct Compton Reeback to act on your behalf please sign this form where indicates to do and return this to us. This will then form a binding contract between us.
I/We accept the above Terms and Conditions and I/we instruct Compton Reeback to act on my/our behalf for the purpose of:
Lettings Services Sole Agency (minimum 6 weeks)
Multiple Agency (6 weeks)
Address of the Premises to be let:
I/we enclose the following documents to comply with the Money Laundering Regulations 2007.
List A: Proof of Identity - Full Passport - National Identity Card - Full Driving Licence
List B: Proof of Residence - Council Tax bill - Utility bill - Mortgage statement - Bank Statement - Credit Card Statement.
Bank Name__________________________________________ Sort Code_______________________________
Account Name _______________________________________ Account Number_________________________
Water Supplier________________________________________ Account Number_________________________
Electricity Supplier_____________________________________ Account Number_________________________
Gas Supplier__________________________________________ Account Number_________________________
Telephone/Internet_____________________________________ Account Number_________________________If we are not managing the Premises please complete the following:
I/we confirm that I/we will take full responsibility of the management of the Premises. I/we are aware that I/we must give the Tenant copies of all guarantees and maintenance contracts for any equipment in the Premises otherwise I/we may incur additional costs if the Tenant instructs another contractor and will have to compensate the Tenant. Contact details which, will be passed to the Tenant are as follows:
Daytime Landline telephone number: _______ Daytime Mobile No: __________________________
24 hour/emergency Landline telephone number: __________ __________
24 hours Mobile No: _________________________
Address (UK): Address (Overseas):
E mail address:
When I am/we are unavailable (e.g. on holiday/abroad) the following person(s) should be contacted in my/our absence. This person has Power of Attorney or a Lasting Power of Attorney, which gives them legal authority to act on my/our behalf:
Name: Daytime telephone number:
24 hour/emergency telephone number: ______________
Contact address (UK): The Deposit
I/we chose to register the deposit with the following approved deposit scheme (please circle): DPS / TDS / TDSL
The Landlord is warned that by signing this document he is liable for all our Fees and charges for the chosen Service including any renewal whether fixed Term or periodic.
Declaration by client I confirm that I/we own the Property. I/we confirm that I/we have read and agree to the above terms. These will govern my/our relationship with Compton Reeback. I confirm that I wish Compton Reeback to commence provision of Services immediately and I understand that this may result in the waiving of any right to cancel this agreement that I may have pursuant to the Regulations.
Signed: …………………………………… Date: …………………………..
Print name: ………………………………..
Correspondence address (UK) ……………………………..…………………………………………………………………………………………..
Correspondence address (Overseas)…………………………..…………………………………………………………..
Landline Telephone number …………………………………………………
Mobile number ………………………………………… Fax number …………………………………….
E mail address ………………………………………………………………………………………………………………
Other Useful Contact Information: ……………………………………………………………………………………………………………………………………….
By signing on behalf of a joint owner, company, limited liability partnership or trust, you confirm you are authorised by the said entity to sign on his/her or its behalf. In this case, please state the capacity in which you sign.
Signed on behalf of Compton Reeback …………………………………………………………………Director
Name………………………………………………………………………………… Date …………………………..……………………………….