TERMS AND CONDITIONS
RESIDENTIAL LETTINGS AND MANAGEMENT

COMMISSION AND FEES SUMMARY

1.1 LETTING:10% OF RENT RESERVED +VAT

1.2 LETTING AND RENT COLLECTION: 12.5 % OF RENT RESERVED +VAT

1.3 LETTING, RENT COLLECTION AND MANAGEMENT: 15% OF RENT RESERVED +VAT

1.4 EXTENSION/RENEWAL OF TENANCY AS 1.1, 1.2 & 1.3

1.5 SALE OF A PROPERTY
In the event that a tenant or any other person introduced by Hamilton Wood purchases the property, or any interest in the property, whether negotiated by us or not, then commission will become payable to us by you on completion of the sale, the commission at 3% of the sale price plus VAT.

1.6 OTHER CHARGES

1.6.1 ABORTIVE TENANCIES - Should you withdraw from any proposed tenancy we will charge an administration fee of £250 plus VAT.

1.6.2 INVENTORIES - Please refer to the schedule of charges on page 11 of our brochure.

1.6.3 MAINTENANCE ADMINISTRATION - Where we employ contractors to carry out routine maintenance, if the net cost of any single job exceeds £250, we will contact you for instruction.

1.6.4 DISBURSEMENTS - We reserve the right to charge for key cutting, overseas telephone calls, overseas faxes and other expenses properly incurred on your behalf.

1.6.5 COURTS AND TRIBUNALS

1.6.6 Appearances before The Rent Officer, Rent Assessment Committee, the County Court or any other court or tribunal or attending your solicitor will be by special arrangement only and will be the subject of an additional charge at £30 per hour plus VAT.

PAYMENT TERMS

2.1 Our commission fee becomes liable for payment when a tenant introduced to You by Hamilton Wood enters into occupation of the property or any other property owned by You, whether negotiated by us or not, and is subject to the following terms:

2.1.1 Our fee is calculated as a percentage (see 1.1, 1.2 & 1.3) of the total rent reserved under the terms of the Tenancy Agreement and is payable in full at the commencement of the Tenancy.

2.1.2 If We are not employed to collect the rent during the tenancy we will collect our fee from initial sums paid to us by the Tenant. When a tenancy is being extended or renewed, whether by us or not. We will send you an invoice for settlement within 7 days.

2.1.3 If we are not employed to collect rent we will deduct our fee from the fist rent/s received until our fee is paid in full.

2.1.4 Our fees for letting at 10% are payable for the whole length of time that the Tenant remains in occupation of the property, whether or not we cease to deal with the management during such period or deal with the renewal of any tenancy agreement or not.

PRE INSTRUCTION REQUIREMENTS

3.1 We can only accept your instructions on the basis that the following conditions have been met.

3.1.1 FIRE & FURNISHINGS REGULATIONS

3.1.2 GAS REGULATIONS
The landlord must ensure that the gas supply and all gas appliances and fittings provided are safe and properly serviced and comply with the Gas Safety (Installation and Use) Regulations 1994. A Gas Safety Certificate will be required before the commencement of the Tenancy. A safety check should then be carried out on a yearly basis thereafter, by a properly qualified engineer. You will indemnify us should a breach of these regulations occur during the tenancy.

3.1.3 ELECTICAL EQUIPMENT AND WIRING
Your must ensure that all electrical equipment provided and any wiring or plugs or sockets in the property are safe and properly serviced. Portable equipment must comply with the Electrical (Safety) Regulations 1994 and a Safety check should then be carried out on a yearly basis thereafter by a properly qualified engineer. You will indemnify us should a breach of these regulations occur during the tenancy.

DESCRIPTION OF SERVICES

4.1 LETTING SERVICE
Included in our letting service are the following, We will:

4.1.1 Carry out an initial inspection of the property and provide our opinion of expected rental value, furnishings and other pertinent matters.

4.1.2 Advertise the property as necessary or appropriate.

4.1.3 Arrange appointments for prospective tenants to view the property and accompany them where necessary or advisable.

4.1.4 Introduce prospective tenants.

4.1.5 Take up references on prospective tenants.

4.1.6 Instruct properly qualified engineers to carry out gas and electrical safety checks when requested by you or where you have failed to do so, the cost to be debited to your account.

4.1.7 Prepare, execute (if necessary) and complete the tenancy agreement together with appropriate legal notices.

4.1.8 Collect the first months rent and Deposit from the Tenant.

4.1.9 Extend or renew tenancies and execute any Extension of Tenancy Agreement on your behalf.

4.2 LETTING AND RENT COLLECTION SERVICE
In addition to the letting service described in 4.1 we will:

4.2.1 Hold the Deposit as your agent during the tenancy.

4.2.2 Demand and make reasonable efforts to collect the rent from the Tenant, short of issuing court proceedings.

4.2.3 Transfer the transfer the rent of disbursements to a nominated bank account.

4.2.4 Prepare and sent quarterly remittance statements to you and/or your accountant.

4.3 LETTING, RENT COLLECTION AND MANAGEMENT
In addition to the service described in 4.1 and 4.2 we will:

4.3.1 INVENTORIES
Arrange for the preparation of an inventory by a professional inventory clerk. The cost will be debited to your account in accordance with the scale of charges on page 11 of our brochure. It is your responsibility to satisfy Yourself as to the accuracy of the inventory. Hamilton Wood cannot accept responsibility for any claim arising out of an omission or error on the part of the inventory clerk, as they are not in our employment.

4.3.2 OUTGOING
You must instruct the relevant authorities to forward the bills for us for payment if requested to do so and although we will do our best to query any obvious discrepancies it must be understood that we are entitled to accept and pay without question demands and accounts that appear to be in order.

4.3.3 REPAIRS
Deal with day to day maintenance matters up to a maximum cost of £250.00 for any one item. Except in an emergency and wherever practical we will obtain estimates for approval by you where the cost of works is likely to exceed £250.00

4.3.4 PROPERTY VISITS
Carry out visits to the property ever quarter (approximately). These visits will include non-expert investigation of apparent damage or defect, which are noticed or brought to our attention by the Tenants. It should be appreciated that these visits can only extend to apparent and obvious defects and would not in any way amount to a structural survey of the property.

4.3.5 CHECK OUT
Arrange for a professional inventory clerk to check the inventory and prepare a schedule of dilapidation's on your behalf and make appropriate deductions from the Tenants Deposit. If the agreement is not reached within 30 days of the date of the check out the decision of Hamilton Wood will be final and binding on your behalf.
Our decision as to repayment of the Deposit or any part of it to the tenant will also be final and binding.