Letting Sole Agency Agreement

LETTING SOLE AGENCY AGREEMENT

I/We hereby appoint EXPRESS LET LIMITED to undertake the duties of letting agent for the purpose of arranging a tenancy in respect of my property

Express Let Limited are hereby granted Sole Letting Rights until cancelling in writing, the Landlord having given fourteen days notice

I/We appoint Express Let Limited on the understanding that Express Let Limited cannot be held responsible in the event that:

  1. The Tenant does not pay the rent
  2. The Tenant does not hand back the property in a condition that is satisfactory at the end of the tenancy
  3. The Tenant does not leave/vacate the property on the due date
  4. There are antisocial behaviour issues arising with the Tenant/s
  5. There are rent arrears
  6. There are damages to the property
  7. Tenant behaviour
  8. There is outstanding or overdue debt
  9. There are changes in the personal circumstances of the Tenant/s
  10. The property is damaged or broken into when the property is empty
  11. For any Safety and compliance issues relating to the rented property if not instructed to do so by the Landlord

Tenancy Term

The Tenancy will be for a minimum period of six months, at a calender monthly target rent of an agreed monthly rent exclusive, in accordance with the Housing Act 1988.  The Tenant shall be responsible for all other services

Fees and Commissions

I/We agree to pay Express Let Limited an arrangement fee of £450 inclusive of VAT for arranging the tenancy on a Let Only unmanaged basis (this includes finding the tenant, serving of notices, preparation of the Lease, the taking of references etc) for the initial period

For fully managing the property I/We agree to pay an arrangement fee of  £360 inclusive of VAT

In respect of subsequent periods, an arrangement fee of £84 inclusive of VAT shall be payable in the event that the resident tenant undertakes to renew the tenancy for a further period

I/We agree to pay Express Let Limited a fee of 9% of the passing rent inclusive of VAT of the calendar monthly rent for full management and for collecting the said rent for the initial and subsequent periods.  For example, if the monthly rent was £400 PCM, you will pay a fee of £36 inclusive of VAT

Payments:

I/We authorise payments to be made directly into the bank account

Bank/Building Society Name:  …………………………………………………………………………………………………………..

Address:       ……………………………………………………………………………………………………………………………………..            …………………………………………………………………………………………………….Postcode  …………………………………..

Account Name:    …………………………………………………………………………..

Account Number:   ………………………………………………………………………..

Sort Code:   …………………………………………………………………………………..

 

Cancellation Charge

In the event that this agreement is cancelled by the Landlord, once marketing has commenced and prior to the arranging of a tenancy, an administration charge of £50 inclusive of VAT is payable.  mIf this agreement is cancelled during the period of the tenancy then the charge will be equal to the greater of either:

  1. the management fees due to the end of the tenancy agreement
  2. the management fees due to the end of the tenant’s occupation of the property

In the event that the agreement is cancelled by Express Let Limited during the term of the tenancy, Express Let Limited will provide 30 days notice to the Landlord/Tenant to cancel the service/agreement.  All parties will be informed of the management changes and Tenant/s deposits returned/transferred as per the Landlord or new letting agents instruction

Property Maintenance

I/We authorise Express Let Limited to arrange for any works/repairs that Express Let Limited consider to be of an urgent nature (to an amount equivalent to ONE MONTHS RENT) I/We also agree to the invoices in relation to such work being deducted from the rent monies collected.  Where no such funds are held by Express Let Limited, I/We hereby agree to pay any invoices within seven days.  Express Let Limited hereby agree to seek prior authorisation, wherever practical.  The Landlord hereby acknowledges that Express Let Limited is unable to accept responsibility to arrange for any works/repairs or regular inspections to be carried out in respect of unoccupied properties available for letting, without prior arrangement with the Landlord.  Any works/repairs or inspections carried out to said unoccupied properties maybe subject to further charges

Arbitration

Should a dispute arise between myself (the Landlord) and the tenant, I/We hereby agree to let The Property Ombudsman act as arbitrators and agree to abide by their decision

Terms and Conditions

Fees and Commissions

Fees are due and payable immediately on a Tenant entering into a tenancy agreement with then Landlord.  It is agreed that Express Let Limited will deduct such fees due from rent monies collected.  In the event of a local authority demanding repayment whether in part or in full of housing benefit from Express Let Limited and where the funds being demanded have been passed to the Landlord, then I/We hereby acknowledge that I/We (the Landlord) shall be responsible for refunding all monies to the agent without any deductions whatsoever and immediately.  Should the property at any time be sold to the Tenant introduced by Express Let Limited the Landlord will be liable to a charge of six months loss of commission as compensation

Sole Agency/Sole Letting Rights

Express Let Limited will be the sole letting agents from the date of this Agreement for a period of 52 weeks and thereafter until terminated in writing, by either party, giving 14 days notice.  Should the property be let during our agency period, all fees will be payable to Express Let Limited irrespective of the introducer.  During the period of Sole Agency the Landlord will not instruct any other agent to let the property

I/We confirm that no introduction of a prospective Tenant has already been made.  The right is specifically reserved to terminate this Agreement at any time if the terms and conditions are unacceptably changed by the Landlord or become unacceptable to Express Let Limited.  In these circumstances, the cancellation fee, as outlined above would become payable

Insurance

The Landlord is hereby advised to ensure that there is insurance cover in force in respect of buildings and contents (if applicable) and that the insurer is aware that the property is available for letting.  The