Property Management Services
TERMS & CONDITIONS
The Landlord must ensure that the property is covered by fully comprehensive insurance policy for all insured risks at replacement value in respect of contents and building insurance. Sufficient level of liability insurance is also essential. Proof of such insurances should be provided to us.
The Landlord must provide an up-to-date inventory at the commencement of the agreement. If a dispute arises from The Landlord’s inventory, we will not accept any responsibility.
The landlord will provide two sets of labelled keys of the Property after inventory list prepared.
Proof of ownership is required. If there are joint owners, you must inform us who they are and we need their permission before we can act for you.
5. Consumer Protection
The property must be in a condition for someone to live in when it is let. If we feel any repairs are required, we cannot let the property until those repairs have been completed.
6. Electrical Equipment (Safety)
The Landlord must declare and confirm that all electrical installations, wiring and appliances within the property comply with the necessary regulations.
The Landlord agrees to indemnity us against costs, expenses or liabilities incurred or imposed on us provided they were incurred on the Landlord’s behalf in pursuit of our normal duties
The Landlord must undertake all tax liabilities which may be liable as a result of rental income.
9. Value Added Tax (VAT)
Our fees and other charges are subject to VAT (if applicable) at the standard rate.
10. Withdrawal form Agreed Offer
Where the Landlord withdraws instruction to the Property, the Landlord shall pay to us the costs and expenses incurred for drawing the agreement if a draft agreement has already been processed.
11. Legal Jurisdiction
If any terms and conditions or statutory obligation is breached by the Landlord or any act or omission which renders our duties for managing the property impractical or impossible, we may terminate the agreement with immediate effect.
Electricity Bills, Water Rates, Gas bills, Satellite TV will be paid by Landlord.
15. Other Taxes
Council Tax, Garbage Collection Tax, all other property related taxes and local taxes to be paid by Landlord.
16. Sale of Property
Landlord is responsible to inform the potential buyer existence of this agreement. Any new Landlord must agree to terms of this agreement.
Upon receipt of your instruction we will provide the following services:
A. Key Holding Only
§ Inspection of the property on a twice a month basis for damage and leakage.
§ Forwarding e-mail and take a photograph if there is any problem ( leakage, damp, electrical problem…etc)
§ Dealing with the developer on your behalf during guarantee period
§ Preparing the property for the arrival if the landlord let us know ( airing the apartment, cleaning, laundry, beds made up…etc)
§ Extra services such as cleaning, laundry, airport transfer…etc are not included key holding service price.
Our fees for key holdingservice is £150 per annum – subject to a minimum fee of £75.
B. Full Management
In addition to Key Holding Service (please see details above) you may instruct us to manage the property on your behalf in which case we will provide the following services:
§ letting services (short-mid or long term)
§ Marketing activities of your property through affiliate companies
§ Preparing the property for the arrival (cleaning, beds made up, clean towels, linen and laundry) (UPON REQUEST)
§ Meeting and handling the key to holiday makers.
§ Receiving a refundable deposit from holiday makers for breakage and damage to property and contents.
§ On check-out day, getting the key back from holiday makers and checking the inventory.
§ Advising the landlord of any necessary maintenance of repairs, which may occur in the property.
§ We do not offer any rental guarantee
§ The Landlord agrees to allow us to spend up to £100 (excluding VAT) without consultation. We will advise full details of any spending we make on the Landlord’s behalf. There will be 15 % service charge on cost of repairs.
§ We will supervise repair work carried out in the property.
§ Following up your utility bills on monthly basis if any we will inform you
§ Extra services such as cleaning, laundry, airport transfer…etc are not included full management service price.
Our Fees for Full Management service is £200 per annum – subject to a minimum fee of £100.
For two bedroom plus 20% of the rental value (if the 20 % of weekly fee is less than 50 there will be a minimum charge of 50GBPper week)
For three bedroom apartments plus 20% of the rental value ( if the 20% of weekly fee is less than 60GBP there will be a minimum charge of 60GBP per week.
For semi-detached villas plus 20% of the rental value( if the 20% of weekly fee is less than 70GBP there will be a minimum charge of 70GBP per week.
For detached villas plus 20% of the rental value ( if the 20% of weekly fee is less than 80GBP there will be a minimum charge of 80GBP per week).
Above fees includes handling,check-in and out,cleaning and laundry.
lCommission Mid-term letting 15% of the rental value up to 6 months.
lCommission for Long-term letting 6 months and more value of 1 month is rent.
§ We will make the payment directly into the Landlord’s bank account regarding renting the property.
§ The Landlord will inform us in writing for any changes of the bank details for the rental payments.
§ The Landlord will agree that we will make the payment after deducting the outstanding cost of fees, charges and repairs.
§ We will raise a detailed invoice for the services provided.