Terms & Conditions

FULL MANAGEMENT TERMS & CONDITIONS as of 01/07/2018

This Agreement is made between the Landlord of the property as named at the end of this Agreement (‘the Landlord’) and OCS Letting Ltd as agent on behalf of the Landlord and hereinafter referred to as (‘the Agent’).

(1) AGENT’S RESPONSIBILITIES

  1. As soon as the Landlord has instructed the Agent, upon signing this agreement, the Agent will

1.1           Market and advertise the property in such a way as the Agent considers fit in order to find a suitable tenant.

1.2           The Agent shall interview and select prospective tenants. This will include

-  conducting a credit reference search by our insurance company and checking references,

-  when applicable - obtain references from previous landlords and their agents.

1.3           The Agent will collect rental payments on a monthly basis and submit a statement of income and expenditure to the Landlord by email.

1.4           The Agent will receive the first month’s rent together with security equivalent to one month’s rent and submit a statement of income and expenditure to the  Landlord. Where the Landlord has consented that the tenant may keep pets in the property then a larger security may be taken.

1.5           The Agent will endeavor to credit to the Landlord’s nominated bank / building society account within 7 working days the total rent received from the tenant. The Landlord’s payment will                     be sent by Bacs minus-

1.5.1        commission at the agreed rate referred to in Clause (4) of this agreement and

1.5.2        any management expenditure authorised by the Landlord or incurred by the Agent in accordance with Clause 1.14.

  • The Agent will pay all postage costs incurred when sending monthly statements.

1.7           The Agent will prepare a tenancy agreement and specified notices in accordance with all relevant Housing Acts.

1.8           The Agent will prepare a detailed and written / digitally recorded inventory of the property condition, prior to the commencement of the tenancy (detailed photographs).

  • The Agent will transfer all utility service accounts and notify the relevant authorities of any change in occupancy.

1.10         The Agent will check the tenant out of the property on termination of the tenancy and assess the overall condition of the  property with reference to the written / digital inventory.

1.11         On termination of the tenancy the Agent agrees to re-let the property at an appropriate market rental, unless otherwise  instructed by the Landlord.

1.12         When instructed by the Landlord the Agent agrees to serve the required Notice of Termination upon the tenant in accordance with the relevant Housing Acts.

1.13        The Agent will renew the tenancy to the existing tenant as per Housing Acts requirements provided this is agreed the landlord.

1.14         In the event the Landlord is unable to be contacted by telephone during an emergency then the Agent has the authority to carry out all emergency work (only) without prior                            authorization from the Landlord. E.g. There is a Water leak and an emergency plumber must be called out.

1.15         The Agent will, IF instructed by the Landlord obtain all relevant safety certificates as per required by Housings Acts. Namely: Gas safety Certificate, Pat Test, EICr, EPC, Legionella                             Awareness Certificate and smoke alarms. The Landlord will be responsible for any costs involved and prices agreed before obtaining the required certificates.

1.16         In the event that the Landlord is or intends to reside outside of the UK, the Agent agrees to liaise with the Inland Revenue and assist with the necessary application for an exemption                              certificate where applicable.

1.17         The Agent will visit the property on the third month from commencement of the tenancy and then quarterly up to the termination date to assess the property condition. When requested                   the Agent will provide emailed or verbal reports detailing the general condition of the property.

(2) LANDLORD’S RESPONSIBILITIES

  1.      The Landlord confirms by signing this agreement that they are the owner of the property.

2.1          The Landlord agrees to register with their local authority www.landlordregistrationscotland.gov.uk

2.2          The Landlord accepts all responsibility for the property and should ensure that adequate cover exists under both building and contents insurance and therefore may need to inform their                    insurers that the property is to be let. If contents insurance has been provided as part of a promotion by the Agent then the landlord must ensure that adequate buildings insurance is in                     place otherwise the contents insurance provided by the Agent may be revoked.

2.3          The Landlord agrees to ensure that the property has a working telephone line that can be re-connected by the tenant at the tenant’s own expense.

2.4          The Landlord agrees to take responsibility for the property with regards to security, utility bills and any insurance that may be required while the property is unoccupied or between                             tenancies.

2.5        The Landlord will ensure that the carpets and the property are thoroughly cleaned prior to commencement of the tenancy. Cleaning services are can be provided, as per requirements.

2.6           Where required the Landlord agrees to have all chimneys swept before the commencement of the tenancy.

2.7           The Landlord will ensure that the property has a working television aerial as required by law.

2.8          The Landlord will ensure compliance with the Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended 1989, 1993 & 1996) with regard to minimum fire resistant standards                  of specified items supplied in the course of letting their property. Ask your agent if unsure.

2.9          The Landlord will ensure compliance with the Electrical Equipment (Safety) Regulations 1994 and other relevant legislation with regard to the condition and safety of electrical                                     equipment and appliances in tenanted premises. Ask your agent if unsure.

2.10      The Landlord accepts they are responsible for maintaining all Smoke / Fire Alarm Systems and Carbon Monoxide Detectors installed within their let property even if installed by a third                      party. This includes regular tests and battery changes as per manufacturer’s guidelines and to the appropriate British standards and relevant manufacturer’s instructions Ask your agent if                  unsure.

2.11        Unless arranged by the Agent. The Landlord must ensure a valid EPC Energy Performance Certificate has been provided before the property is let or tenancy renewed.

2.12       Unless arranged by the Agent,  Before commencement of the tenancy the Landlord must arrange for a Gas Safe registered installer to carry out the annual Landlord’s Gas Safety Check and                 will provide the Agent with the appropriate safety certificate for all gas appliances in the property within 14 days of the check being carried out; and

2.12.1     Unless arranged by the Agent, The Landlord will ensure that all such gas appliances are thereafter checked annually by a Gas Safe registered installer and certificates supplied to the                             Agent within 14 days of the check being carried out.

2.13        The Landlord will provide the Agent with a full set of keys to the property before the start of the tenancy and a full set for each adult tenant. (3 full sets required).

2.14        The Landlord agrees to maintain the property and present it in a liveable condition with all maintenance work being carried out in a prompt manor without unnecessary inconvenience                       and delays to the tenant(s).

2.15         An emergency contact number will be provided for all Landlords to contact their Agent outside normal office hours. This contact number will be provided for EMERGENCIES ONLY. If                      the Landlord uses the emergency contact number for any purpose other than a genuine property / tenant related emergency then a (£25 plus V.A.T) charge will be applied to their next                        monthly statement.

2.16         The Landlord remains responsible for the supervision of the property whilst unoccupied although the Agent reserves the right to arrange visits by staff in the process of letting. The                               Landlord will remain responsible for ensuring suitable protection for water systems from frost or cold weather damage.

2.17         The Landlord agrees to inform the Agent in writing of any change to his/her contact details.

2.18         The Landlord agrees to inform the Agent of any periods of absence or holiday and to provide emergency contact details that can be used by the Agent if necessary.  The Landlord will                            notify the Agent of any change to the emergency contact details that are to be kept on the Landlords record.

(3) GENERAL TERMS

  1. The fees as set out in Clause (4) are accepted by all parties signing this agreement.

3.1           The Agent has the authority to sign the tenancy agreement and legal notices, on behalf of the Landlord.

3.2           The Landlord provides the Agent with full authorization to manage their property and property related issues, this also extends to their staff, contractors or third parties as specified and                     selected by the Agent.

3.3           Any expenditure incurred by the Agent in respect of maintenance and management of the property will be recovered from the current rental income or funded by the Landlord where                          expenditure is in excess of rental income.

3.4           Value Added Tax (VAT) at the prevailing rate will be chargeable on all commission and fees.

3.5           Unless otherwise instructed by the Landlord, the Agent is permitted to erect ‘To Let’ boards signifying that the property is available for let.

3.6           On termination of the tenancy responsibility for the property will revert to the Landlord.

3.7           Either party may terminate this agreement on the vacation of the tenant(s), or on the occasion of a material breach of any condition of this agreement during the tenancy by way of 60                        days written notice.  Where the Landlord intends to continue letting to tenant(s) introduced by the Agent then, a ‘let only’ fee of £350 (plus vat) will be charged.

 

(4) FEES AND COMMISSIONS

The Landlord agrees to pay to the Agent the following fees and commissions:

1   to 10 properties - Full Management service is 10% per month (plus VAT) of the total rental income and is deducted monthly.

11 to 20 properties - Full Management service is 9% per month (plus VAT) of the total rental income and is deducted monthly.

21+        properties - Full Management service is 8% per month (plus VAT) of the total rental income and is deducted monthly.

          For properties with a monthly rental value less than £500 then a minimum monthly fee of £50.00 (plus vat) will be charged.

INCLUDED WITHIN THE MONTHLY FEE:

4.1           Full and extensive marketing between tenancies.

4.2           The preparation and issuing of the tenancy agreements and notices.

4.3           All tenant credit checks and referencing as required

4.4           Ensure compliance to Pat Testing, EPC certification, Gas certification & Smoke alarms.

4.5           A digitally recorded inventory of the property condition (detailed photographs).

4.6           Update council tax and inform of change in occupancy.

4.7           Update utility companies and inform of change in occupancy with reference to meter readings.

4.8           Monthly collection of rental income and transferred to landlords nominated bank account by internet banking.

4.9           Quarterly property inspections.

4.10         All administration charges for work undertaken in the relation to Non-Resident landlord Scheme.

4.11         Checking the tenant out of the property on termination of the tenancy with reference to inventory

4.13         Liaise with My Deposit Scotland with the tenant’s deposit and request deductions as/if required at end of tenancy.

4.14         A once only fee of £99.99 (inc vat) for the preparation and inventory of the property will be taken from the first rental received.

By which means are you happy for OCS to contact you  (Please circle)        Post            Email           Telephone            Text Message

I/We have fully read and understood the above

Name:

SIGNED:________________________________________(LANDLORD)    DATE:_________

 

Name:

SIGNED:________________________________________(LANDLORD)    DATE:_________