Ashford Reeves offer a company guaranteed rent. The landlord shall receive an agreed net rental figure each month. This is NET of all agency fees. Ashford Reeves shall be responsible to find fully vetted long term tenants for the property. Proviso: The guaranteed rent is offered to the Landlord provided the Landlord pays for all the maintenance and repair works to the property so as to ensure the property is maintained to a habitable standard throughout the tenancy.
(a) The Owner hereby appoints the Manager to be and the Manager hereby agrees to act as manager of the Property. This appointment shall take effect from the Effective Date.
(b) The Owner owns the Property and has agreed to allow the Manager to manage the property in accordance with the terms of this Agreement.
2. Services (general)
We agree to perform the following Services in accordance with these Terms.
(a) With reasonable professional skill and care and with good faith with regards to your interest in the Property;
(b) In compliance with all applicable legislation rules and regulations including any relevant codes of practice;
(c) In accordance with all deadlines and timescales reasonably required by you.
3. Manager’s Duties & Obligations
During the continuance of its appointment the Manager shall –
(a) Observe the terms of the insurance policy so far as they relate to the Property. And if required, to notify the Owner via email the names of the Property’s occupants with move in/out dates, in order to comply with the Owner’s insurance policy.
(b) Following damage or destruction to the Property (unless the Manager shall terminate this agreement in accordance with the provisions of any clause mentioned below) and subject to receipt of the insurance proceeds use reasonable endeavors to procure the reinstatement repair or reconstruction of the Property and to use any insurance proceeds in respect of such works only (and the owner undertakes to instruct the Insurer to pay any insurance proceeds to the manager for this purpose or to indemnify the manager from and against all costs and expenses incurred in connection therewith)
(c) Attend to the management of the property.
(d) Keep the owner informed of relevant matters affecting the Property which a reasonable property owner would consider relevant
(e) Arrange for any rental deposit to be adequately protected under the rules of the Deposit Protection Scheme (DPS) (under the Housing Act 2004 and associated legislation) and to indemnify the owners against failure to comply
(f) No more than 4 tenants will occupy the property at any time.
(i) The guaranteed rent to the Owner for the duration of this agreement.
(ii) All council taxes which are imposed on the property (other than any taxes payable by the owners)
(iii) All charges for electricity gas water and other services consumed or used at the property (including metered charges)
(iv) All costs expenses and demands arising from a sub tenancy including (but not limited to) obtaining a court order for possession of the property.
4. Owner’s Duties & Obligations
During the continuance of this agreement the Owner shall –
(a) Pay the Mortgage Payments on the due dates
(b) The Owner will keep in place adequate insurance and observe the terms of insurance policies so far as they relate to the property and the sub-letting of rooms therein.
(c) Provide all information which the Manager shall reasonably require in relation to managing the property.
(d) The Owner(s) warrants that any required consent from mortgage lenders who have a charge on the Property in relation to subletting of the rooms has been obtained.
(e) Assist the Manager with any court order for possession of a room or the whole Property.
(f) Comply with all statutory laws regarding licensing of the property for multiple occupants and pay the licensing fee
(g) The Owner must ensure that the manager has full access to the premises at all times.
In consideration for carrying out his duties under this agreement and excluding the agreed fee (rent) payable to the owner(and any agreed taxes or utility charges),the manager shall be entitled to retain all rents payable by the tenants, in exchange for carrying out his duties and obligations pursuant to this agreement.
The Owner shall ensure that there is promptly provided to the manager all such information as shall be required to enable the Manager properly to perform his duties under this agreement and no liability shall attach to the Manager by reason of his having acted or omitting to act where such action or omission resulted directly or indirectly from any failure or delay in providing such information.
This agreement may be terminated by the Manager by giving two months’ notice in writing to the Owner to that effect, not to be served before initial # months of the term have expired (a minimum term of 4 months) or immediately by notice in writing to the Owners if at any time;
(a) The Owner shall in respect of an individual become bankrupt or unable to pay their debts or have no reasonable prospect of being able to pay their debts within the meaning of section 267 and 268 of the Insolvency Act 1986 in or in respect of a company goes into liquidation (except for a voluntary liquidation for the purpose of reconstruction or amalgamation upon terms previously approved in writing by the manager);
(b) The Owner shall commit a serious breach of the provisions of this agreement and/or have fail to remedied that breach within thirty days after the service of notice requiring it to be remedied.
This agreement may be terminated by the Owner after the initial fixed period by two months’ notice in writing to the Manager or immediately by notice in writing to the Manager if at any time;
(c) The Manager shall in respect of an individual becomes bankrupt or in respect of a company goes into administration or liquidation (except for a voluntary liquidation for the purpose of reconstruction or amalgamation upon terms previously approved in writing by the owner such approval not to be unreasonably withheld or delayed);
(a) The owner agrees that the manager has the right to terminate the tenancy after two months by giving the owner not less than two months notice in writing to end the agreement. The notice must expire at the end of a relevant period, being the 1st day of the month. When the notice period expires the agreement shall cease. This does not affect the right of either the owner or the manager to pursue their legal remedies against the other for an existing breach of any rights under the agreement. If the agreement is being terminated with a vacant possession, the manager reserves the right to adjust the last month’s rent figure subject to the subtenants rental income.
(b) In the event where the manager or the owner is not capable of performance of his duties and obligations the management agreement becomes void and cannot be enforced by law.
(c) The parties hereto are not in partnership with each other.
(d) This agreement is for the benefit of the parties to it and is not intended to benefit or be enforceable by anyone else.
Any notice given under this agreement must be in writing and signed by or on behalf of the party giving it and be served by delivering it personally or sending it by pre-paid first class post or recorded delivery or by email to the address and for the attention of the relevant party as follows:
(a) To the Owner at the Owner’s address mentioned above. :
(b) Or to the Owner’s agent or to such other address, or for the attention of such other person, as was last notified in writing by the Owner to the Manager.
(c) To the Manager at Ashford Reeves, 10 – 16 Tiller Road, E14 8PX
Or to such other address or for the attention of such other person, as was last notified in writing by the Manager to the Owner.
Any such notice shall be deemed to have been received:
(d) If delivered personally, at the time of delivery.
(e) In the case of pre-paid first class post or recorded delivery, on the second working day after posting; and
(f) In the case of a transmission if sent before 4.30pm or on the next working day if sent after that time.
In proving service it shall be sufficient to prove that delivery was made or that the envelope containing the notice was properly addressed and posted as a prepaid first class or recorded delivery letter or that the message was properly addressed and transmitted, as the case may be.
A notice given under this agreement will not be validly served if sent by e-mail.
9. Jurisdiction and Governing Law
This agreement shall be governed by and constructed in accordance with English law and the parties submit to the jurisdiction of the English courts.
10. Gas, Electrical Safety & Fire Safety
The Landlord is legally responsible to arrange and ensure the property meets all electrical, gas and fire safety regulations at all times throughout the tenancy. This is the case in both let only services as well as management services by Ashford Reeves. The agency will not be responsible for the fire safety of the property. It is the responsibility of the landlord to ensure all the relevant gas, electrical and fire safety regulations are complied with throughout the tenancy.
11. Additional Information ( Furniture, Furnishings, Gas & Electrical Safety )
Ashford Reeves is legally obliged to refuse to market any property where the furniture, gas installations or electrical equipment do not comply with the Furniture and Furnishings (fire) (safety) Regulations 1993, the Gas Safety (Installation and Use) Regulations 1994, and the Electrical Equipment (Safety) Regulations 1994, respectively.
At the Agent’s discretion, the agent’s may be entitled to erect a temporary partition wall in the living room which will be taken down at the end of the tenancy at the full cost of the agent.
By accepting these Terms and Conditions of Business you warrant that:
(a) All upholstered furniture, soft furnishings, beds, mattresses, pillows and cushions supplied to
The property and forming part of the proposed letting (including any later replacements)
comply with the Furniture and Furnishings (Fire) (Safety) regulations 1993 and the
Furniture and Furnishings (Fire) (Safety) (Amendment) Regulation 1998.
(b) All gas appliances within the property comply with the Gas Safety (Installation and Use)
(c) All electrical installations and appliances within the property comply with the Electrical
Equipment (Safety) Regulations 1994.