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Massey Property terms and Conditions

Terms and Conditions

It is agreed that the Landlord hereby instructs Massey Property Services (The Company) to manage the aforementioned property in accordance with the service indicated below.

 

The Company will carry out the following

 

INTRODUCTION ONLY SERVICE (2 WEEKS OF THE RENT ACHIEVED AND A £60.00 ADMIN FEE)

• Market the property in local property papers and magazines.

• Identify suitable Tenants for the property at the agreed rental figure.

• Obtain references in respect of any prospective Tenant and Guarantor where applicable.

• Prepare the appropriate Tenancy Agreement and legal notices.

• Collect one month’s rent and one month to be held as a security deposit.

• Have an Inventory and Schedule of condition prepared.

 

Please note that in the case of our Introductory Service we will forward the security deposit to the Landlord to be held. WE MUST BE PROVIDED WITH PROOF THAT YOU BELONG TO A TENANCY DEPOSIT SCHEME IN ORDER TO PROVIDE THIS SERVICE The Landlord will be responsible for checking the Tenants out at the end of the Tenancy and returning the deposit and dealing with any disputes. The Landlord will also be responsible for all dealings with the Tenants throughout the Tenancy including any maintenance issues. We will provide copies of all necessary documentation at the start of the Tenancy, in the event that these are misplaced and copies are required, this will be at a fee of £5.00 + VAT

 

In addition Massey Property Services will also provide the following services for our

RENT COLLECTION SERVICE (10% OF THE MONTHLY RENTAL INCOME + £150.00 ADMIN FEE)

• Collect the monthly rent and forward it to your account

• Deal with any rental issues

• Hold the security deposit as Stakeholder

• Carry out a check out at the end of the Tenancy and deal with the return of the Security Deposit.

 

In addition Massey Property Services will also provide the following services for our

FULLY MANAGED SERVICE (12% OF THE MONTHLY RENTAL INCOME + £150.00 ADMIN FEE)

• Whilst the property is occupied, we will carry out a management inspection of the property, initially at 3 months and then every six months for the duration of that Tenancy.

• Notify the Landlord of any disrepair evident and upon the owners instruction issue works orders to contractors to repair the problem.

• We will co-ordinate any maintenance issues and deal with all communication between the tenant, you and the contractors.

• Monies for maintenance will be deducted from the following months rent.

• We will endeavour to advise the Landlord of all maintenance issues and reserve the right to carry out repairs to the value of £100.00 without consultation. In cases of emergency if we are unable to contact you we will act in your best interest to deal with the problem and prevent further damage to the property.

 

In relation to our rent collection and fully managed service we will deduct our fees on a monthly basis. All fees are subject to VAT at the current rate. In the event that a Tenant pays the rent six months in advance, we will forward it to you on a monthly basis on the date that it is due.

 

• The Landlord has title and power to enter into a Tenancy Agreement and relevant parties have been informed, Mortgage Company, Buildings Insurance, Managing Agents and Freeholders.

• The Landlord authorises Massey Property Services to attend to any maintenance problems that may arise and to collect all rent due, if applicable. The company is not responsible for any non-payment or non-performance of the Tenants obligations or neglect during the course of any Tenancy.

• The contractors used by Massey Property Services are professionals that will charge call out fees for their time. Where possible we will enlist the help of a handyman for smaller maintenance issues where deemed appropriate.

• The landlord agrees that Massey Property Services may authorise repairs up to £100.00 in the event that this is a cost effective option that will avoid further call out fees.

• The company is not responsible for the management of the property whilst it is vacant.

• The Landlord authorises Massey Property Services to sign any Tenancy Agreement and legal notices. Massey Property Services will not sign any agreement unless this in the company’s standard form.

• Massey Property Services will contact the Landlord two months prior to the end of the Tenancy to establish that you will be happy to continue the Tenancy. In the event that we do not hear from you we shall presume you will continue letting the flat, in the event that the tenant wishes to continue at the property, this will be on a Statutory Periodic Tenancy or we will re-market the property at the appropriate market rent. A Statutory Periodic Tenancy can continue until you give the tenant two months notice in writing from a rental date or the tenant gives one months notice in writing from a rental date.

• Prior to the Tenancy commencing the Landlord will ensure that all furniture, furnishings, appliances and apparatus left at the property complies with all statutory regulations. The Landlord will provide copies of certificates and documentation to the company. The Landlord’s responsibility regarding these regulations applies even if the company signs any tenancy agreement as agent.

• If the Landlord resides overseas during any tenancy that he must obtain an Approval Number from the Inland Revenue to have tax deducted at source. NRL1 Form obtainable from Massey Property Services or Inland Revenue. This will allow us to pay the gross rent to you without deducting tax a t base rate – 20% at time of writing. We would strongly advise that you seek independent financial assistance on this matter. These notes should not be relied upon to provide definitive information and Massey Property Services can accept no responsibility for any losses arising from so doing. Rent received from rented accommodation is taxable, whether you are a taxpayer in the UK or not. The taxable income is arrived at by calculating the rent received during the year and deducting allowable expenses. Expenses which are allowable include the following; On-going maintenance, repair and re-decoration to the property and garden. All property insurance premiums. Agent management fees. Certain legal fees and accountancy fees. Any additional rents payable by the Landlord (e.g. ground rent) Renewal of furniture and equipment or alternatively you could elect to choose a ’wear and tear’ allowance calculated currently at 10% of the annual rent received (less water rates). In certain instances, interest payable on mortgages or loans used in the purchase of the property.

• The Landlord will provide the company with one set of keys per tenant and provide Massey Property Services with an access set of keys for the duration of the tenancy.

• Should it become necessary to commence any legal action against the Tenant, the Landlord is responsible for any solicitor costs or court or bailiff fees incurred.

• Whilst the property is let Massey Property Services may terminate this agreement by giving not less than one months notice in writing to the Landlord. A Landlord may give one months written notice once the Tenancy has been in force for a minimum of six months.

• In the event that a Tenancy Agreement will have to be used in court there will be an additional fee of £15.00 to have the Agreement stamped by the Inland Revenue.

• The Landlord’s Agents as stakeholders shall not be liable to pay interest from the Deposit held to the Landlord or the Tenant.

• In the event that the Tenant shall purchase the property during a tenancy created by Massey Property Services then a fee of 1.5% of the sale price shall be due to Massey Property Services.

 

LANDLORD OBLIGATIONS - Legislation states that a valid Gas Safety Certificate must be held for a property. This is the obligation of the Landlord. An Energy Performance Certificate must be provided for a rental property prior to marketing. This remains the responsibility of the Landlord and Massey Property Service can accept no responsibility in the event that the Landlord does not provide an Energy Performance Certificate.

 

Security Deposits - Download Our Security Deposits sheet >>

 

Property Profile - Download Our Property Profile >>

 

Houses in Multiple Occupation

We will advise you if your property is in the category of an HMO. The main ruling is that if it is three storeys and 5 people living there who are not living as a family. Then the property will need to be licensed through the council. You will need to apply to the council to do this and provide Massey Property Services with a copy of the license.