Boateng

Homes LTD | Property Management & Services.

Terms & Conditions

This agreement is made between The Owner/s of the property as names at the end of this agreement, hereinafter called The Owner, and The Agency named above acting as Agent for the owner, and hereinafter called The Agent. The Service 1. Providing a rental Valuation of the property, and offering advice as required. 2. An administration fee is payable of 99.00 + VAT initially for advertising as necessary, selecting tenants, arranging/carrying out viewings, obtaining references and dealing with negotiations. Please note if your own tenant is sourced either by yourself or another letting agent an admin fee of 99.00+ VAT is still payable. 3. Preparing and signing of a STA for the owner a suitable tenancy agreement in accordance with current law. 4. Preparing an inventory and schedule of condition at the charge shown overleaf. 5. Advising on and assisting in the transfer of utility service accounts. 6. Receiving ongoing rental payments, preparing and forwarding to The Owner and/or their accountant financial statements on a monthly basis, and remitting the balance of rental payments within one month of the due date, provided the same shall have actually been received. Making payment of certain regular outgoings provided the agent has agreed to do so separately in writing and that sufficient funds are held in credit by virtue paragraph 7 above. 7. Advising on and ensuring compliance with the Gas Safety (installation and Use) Regulations 1998 with regard to the inspection, maintenance, and keeping of records in respect of gas appliances in tenanted premises, the owner being responsible for all costs involved. 8. Advising on and ensuring 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 property, the owner being responsible for all costs involved. 9. Advising on and ensuring 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, the owner being responsible for all costs involved. 10. We reserve the right to comply with any legislation or where we consider it to be an issue of health and safety without reference to you first.

11. Inspecting the property when the tenant vacates or at the renewal of the 6 month STA and producing a report ensure compliance with the terms of the tenancy agreement (60 + VAT fee applies). It should be appreciated that any such inspection can extend only to apparent and obvious defects and would not amount in any way to a structural survey of the property. We cannot accept responsibility for hidden or latent defects. 12. Arranging any repairs, maintenance or replacements to the property or contents which are brought to the Agents notice and with which The Agent considers necessary, up to an estimated cost exceeds 120, notifying the Owner or the nominated representative who will be responsible for arranging and paying for such work or replacement. 13. We must be placed in sufficient funds at the commencement and, if necessary, during the term of the management, to enable us to meet all expenditure prior to any next rent collection. It is essential that we hold a working balance, as we cannot undertake to meet any outgoings beyond the available cash from time to time in our hand on your account. 14. We shall deal with day-to-day management matters including minor repairs up to a maximum of 120 for any one item. Except in an emergency wherever practical, estimates are obtained and submitted to you for approval in respect of works of redecoration, renewal or repairs likely to cost more than 120. An additional supervisory fee of 10% plus VAT of the total cost is charged for this work. 15. Dealing with any necessary insurance claim on the Owners behalf at a charge equivalent to 10% of the value clamed. 16. In cases where we are not employed to collect rent throughout the tenancy, it is our policy to receive the initial rent payment, or payments, from the tenant in order to meet our commission. 17. Taking appropriate initial action in the event of rent arrears or any other breach of condition of the agreement in an effort to remedy the situation. Where such arrears or breach persists, informing the Owner or the Owners nominated representative who will be responsible for taking any further action and meeting any costs involved. 18. Liaising with tenant on a routine basis, arranging renewals of the agreement or check-outs, re-advertising and re-letting to new tenants as appropriate (60 fee for the renewal of Tenancy Agreements) 19. Deal with the depositing of the tenants bond into the Deposit Protection Scheme. 20. We are obliged to include your full name and address on al l rent demands. If your address is outside England and Wales, then we must provide the Tenant with an address within England and Wales to which Notices (including Notices in proceedings) may be served to you. Unless otherwise instructed, if your address is outside England and Wales, we will use the address of our central Administration Office for this purpose. Although we will use our best endeavors to forward any Notices to you promptly, we cannot accept liability for any loss or damage incurred either directly or indirectly from our actions in this respect. 21. Landlords must acknowledge that wear and tear is to be expected when letting a property. In particular it is likely that the carpets, appliances, fixtures and fittings, furnishings ETC will NOT be in exactly the same condition as before the property was first let.

NOTES AND GENERAL TERMS 1. If a mortgage exists on the property, the Owner must obtain the lenders consent to let. 2. You are responsible for insuring the structure and your content. Please ensure that your mortgage lender is aware that the [property is let as this can affect cover. 3. The tenant is responsible for utility bills, council tax and water rates whilst renting the property. 4. If the owner is a leaseholder the terms of the lease must be checked and any necessary consent obtained to let. 5. The Owner must ensure that adequate cover exists under both building and contents insurance, and must inform the insurers that the property is to be let. 6. The Agents Service does not include supervision of the property whilst unoccupied although visits may be made by staff in the process of re-letting. Visits can be arranged with an additional fee of 28 Per visit. 7. The Owner hereby agrees to ratify all lawful actions taken by the Agent under this Agreement. 8. Its is hereby agreed that The Agent may deduct from rental received all fees commissions charges and expenses payable or reimbursable to the Agent under the terms of this Agreement. 9. The agent will not accept responsibility for frost or cold weather damage to water systems or subsequent damage caused thereby at anytime, and the Owner should therefore ensure that such risks are covered by insurance. It is recommended that adequate arrangements are made with a third party to protect water systems from cold weather. 10. Where The Owner is resident in the UK, income tax on rental from property is entirely The Owners responsibility/ However where The Owner is deemed to be resident overseas, unless exemption has been agreed, The Agent must deduct tax from rental received and forward the same to the Inland Revenue. 11. Whilst the agent shall use their best commercial judgment in the selection of tenants and the execution of their service hereunder, The Agent shall not under any circumstances be liable for non-payment of rent or any other outcome of the tenancy or for any legal costs resulting therefrom. Insurance policies are recommended to cover such risks. 12. This Agreement will remain in force until terminated by service of three months notice by one party on the other provided that The Agent may terminate this Agreement forthwith and without service of notice in the event of any action or omission by The Owner of the Owners representative which frustrates the continued performance of The Agents service here under. 13. If you withdraw from this contract, yet continue to rent the property to a tenant found via Boateng Homes LTD you will then be liable to a charge of 10% + VAT of 6 months gross rent. This will be payable initially from any rent held on account. Should sufficient funds not be available in this respect the balance must be paid within 7 days of receipt of our account either by cheque, BACS, and credit or debit card. FEES (a) Tenant Finding Service agreed at 180 + VAT (b) Let & Rent Collection agreed at 5% of Rental received + VAT (c) Full Letting & Management Service at 8% of rental Received + VAT (d) An administration fee of 60+VAT will be payable on the occasion of each renewal of an existing agreement.

(e) Preparation of Inventory Charges for preparation of an inventory and schedule of condition are 25 per hour (including office time), with a minimum charge of 25.00. The Inventory carried out upon move in is covered in the finders fee, however the inventory carried out upon move out is chargeable and an invoice will be forwarded (an inventory is automatically carried out upon move out). (f) Boateng Homes LTD reserves that right to increase the commission rate by 1.5% with a months notice. (g) Our minimum management commission is 100 plus VAT per calendar month. (h) Periodic Inspection (i) Charges for periodic inspection are charged at 60 + VAT which will include full interior/exterior inspection f the property and a full report emailed or posted out to you with a list of recommendations. (j) Sale Of Property (k) In the event of a tenant or prospective tenant introduced by The Agent completing the purchase of the property at any time, a commission will be payable by The Owner to The Agent equivalent to two percent of the selling price. I/We* confirm that I/We* have read this Agreement and wish to appoint The Agent (Boateng Homes LTD) to act on my/our* behalf in accordance with the service, Notes & General Terms and Fees as herein laid out. I/We* further confirm that I am/We are* the sole owner/joint owners* of the property. Full address of property to be let and managed: ...... ...... .. Signed: ........................................ Date: ................................. Printed: ............................................................. Date: ................................. Signed: ................................................................ Date: ................................. Printed: .............................................................. Date: ................................. Please sign both copies of the Terms & Conditions, returning one copy to our office, at your earliest convenience as receipt of this form will allow our office to commence actively offering your property.