CURRENT TERMS and DUTIES of LETTING and MANAGEMENT
1. To arrange a letting of the above Property, subject to reference approval, applied for by NMC Property. Where necessary, to sign upon your behalf, a lease on the agreed terms, in order to effect said letting without delay.
2. To collect all rental payments due from the Tenant. To credit to your Bank Account the net proceeds, without delay, once the Tenants payment has been cleared.
3. To obtain and forward to the Deposit Protection Service, a rental deposit of at least one month’s rent, held by them for the term of the letting, against final clearance of all the Tenants obligations.
4. To ensure as far as can be ascertained that the Tenant fulfils all lease obligations.
5. In order to further the foregoing to make at least one official risk assessment and maintenance inspection during each four month period. A charge of £40.00 is effected upon each inpsection. Also to carry out inspections on either written notice by the Landlord and /or upon determination or extension of the lease period.
6. To arrange and supervise any repairs which may become necessary, whether at Landlords or Tenants expense, after first informing and agreeing works with Landlord.( where possible)
7. To receive and discharge any liabilities sustained at the property, as appropriate.
8. To prepare and submit a periodic report, to you, the Landlord.
In order to fulfil the above obligations, we are prepared to undertake the A: LETTING and MANAGEMENT of this property for a fee of TBA % of the passing monthly rent, plus VAT.
A charge of £150.00 inclusive of VAT is made for the approval of all the legal arrangements to protect all parties, before occupation is granted to the proposed Tenant. The appropriate documentation including relevant notices can then be issued promptly. Payment of this sum is deducted from the first month’s rent. Subsequent extensions to an existing lease incur a charge of £42.00 inclusive of VAT for 6 months, £66.00 inclusive of VAT for 12 months, but inclusive of Stamp Duty, if applicable. Should you withdraw the property once a prospective tenant has been referenced, a minimum charge of £60.00 inclusive of Vat will be made.
In addition, charges of £102.00- £162.00 (depending on number of rooms) inclusive of VAT are made on the occasion of preparing and checking the Inventory and Schedule of Condition. No other letting charges will be made.
Where detailed repairs or improvements, involving multiple quotations and visits, are instigated on your behalf, and the value of works is likely to be over £500.00, we reserve the right to make a charge of 5% of the potential spend, plus VAT or a minimum fee of £50.00 plus VAT, whichever is the higher.
It should be specifically noted that the fee quoted above does not
include services involved for enforcement action against Tenants nor for undertaking, if relevant, other negotiations on your behalf, where again a fee will be charged on a quantum meruit
basis. No action would be taken without your prior written approval.
Should you, the Landlord, agree to sell the subject Property to the Tenant in occupation a fee of 1.5% plus VAT of the Sale Price will become due upon exchange of contracts. Should a subsequent sale of the property be effected, upon vacant possession being granted, to a
purchaser introduced by NMC Property, which includes NMC Property Residential Lettings, where appropriate, a fee of 1.5% of the Sale Price plus VAT shall become due.
This agreement will last the duration of the Tenancy, and any extension thereof
Signed for NMC Property........................................"