LANDLORD’S BROCHURE Residential Lettings & Property Management

59 High Street

The Toll House

33 Alfred Street

Cowbridge

1 Derwen Road

Neath

Vale of Glamorgan

Bridgend

West Glamorgan

CF71 7YL Tel: (01446) 776374

CF31 1LH Tel: (01656) 660036

SA11 1EH Tel: (01639) 639541

E-mail: [email protected]

E:mail: [email protected]

E-mail: [email protected]

Website: www.hrt.uk.com

CONTENTS

PAGE

INTRODUCTION

3

1.

What Do I Need To Know?

4

2.

Before The Tenancy

4

3.

Energy Performance Certificates (EPC)

5

4.

Furniture and Furnishings (Fire) Regulations

5

5.

Gas, Electricity, Smoke Detectors, General Product and Building Standards Regulations

6-9

6.

Taxation for UK Residents

9

7.

Taxation for Overseas Landlords

9

8.

Inventories

9

9.

Deposits – Tenancy Deposit Scheme

10-11

Two Tiers of Service

12

10.

Introduction Only

12

11.

Full Management

13

12.

Tenancy Agreement

13

13.

Are There any other Costs?

13

14.

Postal Redirection

14

15.

Council Tax/Telephone/Water Rates/TV Licence/ Gas and Electric

14

16.

Money Laundering Regulations

14-15

17.

Questions and Answers

16-17

Landlords Terms and Conditions

18-21

2

INTRODUCTION This brochure has been designed to help simplify the process involved with letting a property and to establish the services offered by our company. You may find consulting different sections easier at relevant times, however, we recommend studying the whole before proceeding with a let so that you are fully conversant with out services and what you position will be. Herbert R Thomas LLP pride ourselves on our professional service with swift accounting procedures, experienced and trained staff and overall, a complete service offering total peace of mind. We provide free rental assessment without obligation and are more than pleased to spend time to sit and discuss in detail any points that you would like explained in full. Herbert R Thomas is the trading name of Herbert R Thomas LLP. Herbert R Thomas LLP is a Limited Liability Partnership registered in England and Wales (OC 323105) whose registered office office is at 59 High Street, Cowbridge, Vale of Glamorgan CF71 7YL. Any reference in this brochure to “we” or “us” or “Herbert R Thomas” is to Herbert R Thomas LLP.

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1.

WHAT DO I NEED TO KNOW?

When we make our first visit to your property, we will advise you on its current rental value based on our experience of the market. At the same time we can make suggestions regarding which items should and should not be left in the property. We would also be happy to answer any questions you may have about becoming a Landlord. You will need to decide which of our services you require. This will depend on you personal circumstances and whether you will be available during the tenancy to take care of any matters that may arise. Whatever your requirements Herbert R Thomas can provide a service to look after all the Landlord’s needs.

2.

BEFORE THE TENANCY

Your property will need to be in good structural and decorative condition, with all machines and appliances in working order. Prospective tenants will be viewing your property, usually accompanied by us. Obviously the property needs to look as attractive as possible and be available for viewing, often at short notice. It is helpful if Herbert R Thomas have access to keys to ensure that we are able to show applicants as quickly as possible. We would normally ask Landlords to provide us with two sets of keys. One of the sets would be passed on to the chosen applicant on the signing of the Agreement. Herbert R Thomas would retain the second set throughout the tenancy (if the property is managed by Herbert R Thomas). Following viewing, those who wish to proceed to rent a property are asked to complete applications forms, which provide Herbert R Thomas with their details and personal circumstances. We will obtain a non-refundable Administration fee of £100. The property will then be withdrawn from the open market.

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3.

ENERGY PERFORMANCE CERTIFICATES

As of the 1st October 2008, Landlords will be required to provide tenants with an Energy Performance Certificate (EPC) at the point of new rental. An EPC (Energy Performance Certificate) grades the energy performance of a property on a scale from A-G. The main part of the EPC takes the form of a chart setting out the properties energy efficiency and environmental impact. The EPC must be in place prior to the property being marketed. It is worth noting that Landlords have no legal obligation to make improvements identified within the EPC. An EPC is valid for 10 years. The cost of the EPC’s will vary, depending on the size of the property. We can arrange an EPC certificate for £60.00.

4.

THE FURNITURE AND FURNISHINGS (FIRE) (SAFETY) REGULATION 1988 (Amended 1989 and 1993)

A copy of the Furniture and Furnishings (Fire) (Safety) Regulations 1988 (Amended 1989 and 1993) are available for inspection at our Cowbridge office subject to prior arrangement. Take notice that any furniture included in the tenancy must comply with:THE FURNITURE AND FURNISHINGS (FIRE) (SAFETY) REGULATIONS 1988 (As amended 1989 and 1993). The regulations apply to any of the following which contain upholstery and which are intended for private use in a dwelling, including children’s furniture: Beds, headboards, mattresses of any size), sofa beds, futons and other convertibles, pillows Nursery furniture Garden furniture, which is suitable for use in a dwelling Sofas, three-piece suites Scatter cushions and seat pads Loose and stretch covers for furniture The regulations do not apply to:Sleeping bags, bed clothes (including duvets) Loose covers for mattresses Pillow Cases Curtains Carpets

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Furniture made before 1950, and re-upholstery of furniture made before that date. N.B. All furniture purchased brand new after 1 March 1989 or sold by a retailer after 1 March 1990 shall be to the new standards and will be labelled accordingly. If any furniture supplied to the property does not comply with the regulations and does not carry the appropriate safety label, it should be removed and/or replaced. It is a criminal offence to leave any furniture in a rented property, which you are aware, does not comply, or cannot be proved to comply with the Furniture and Furnishings Regulations. Breach of these regulations carries a heavy penalty. 5.

GAS, ELECTRICITY, GENERAL PRODUCT SAFETY, SMOKE DETECTORS AND BUILDINGS STANDARDS REGULATIONS

Copies of

a) The Gas Safety (Installation and Use) Regulations 1988 b) The Electrical Equipment (Safety) Regulations 1994 c) The General Product Safety Regulations 1994 d) The Smoke Detector Act 1991 e) The Building Standards Regulations

are available for inspection at our Cowbridge office subject to prior arrangement. a) GAS – The Gas Safety (Installation and Use) Regulations 1998 Every year, at least thirty people die of carbon monoxide poisoning caused by gas appliances, which have not been properly installed or serviced. When gas does not burn properly, excess carbon monoxide is produced and can cause death in a matter of hours. There is a risk if: • • • • • •

The appliance was poorly installed The appliance is not working properly The appliance has not been checked or serviced regularly There is not enough ventilation in the room The chimney or flue becomes blocked Unqualified people install or service the appliance.

The Gas Safety (Installation and Use) Regulations 1998 place duties on gas consumers, installers, suppliers and Landlords All businesses, which carry out work on gas appliances, must be registered by Gas Safe. By law, all Landlords are responsible for making sure that all gas appliances, flues and associated pipe work in the rented property are maintained in a safe condition and

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checked for safety at least every 12 months by a competent engineer (i.e. Gas Safe registered gas installer). The Landlord is required to keep accurate records of the date of inspection and remedial works carried out on all gas appliances within the property and retain these records for a period of two years. The records should contain:• • • • • • • • •

•

The date of the check Name and address of the premise check Name and address of the Landlord/agent Location of each piece of apparatus/flue Any defects identified Any remedial action taken Identification of any defects Confirmation that the safety check complies with requirements of the regulations The registration number of the Gas Safe engineer of the one with which employer is registered by Health and Safety Executive The engineer’s signature

To be fully compliant, you should keep one spare copy of the current record of the safety test certificate on the property, one with a Letting Agent, one for yourself and a final one for the tenant, to be handed over when the tenancy agreement is signed. A new tenant must receive a copy of the current safety certificate prior to occupying the property. Tenants cannot be allowed to occupy the property if the current certificate is not available. If you use our “Introduction Only” service, you are responsible for arranging these safety checks. If you use our “Full Management” service, we will arrange the checks on your behalf. b)

ELECTRICITY (The Electrical Equipment (Safety) Regulations 1994)

These regulations apply to any one Landlord who lets accommodation, which contains electrical equipment. It covers any electrical equipment between 50 and 1000 volts a/c and requires that the apparatus be safe and tested regularly by a registered NICEIC electrician. The regulations do not, however, give any clear indications as to how often checks need to be “regular”. We advise any property over 10 years old should be checked by a registered electrician before the property is advertised to let.

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The main things that you need to ensure are that the electrical equipment is: • • •

Adequately protected against dangers such as overloading, through insulation and earthing. Constructed in accordance with good engineering practice Accompanied by instruction booklets or clear instructions

There are some simple checks that you can perform yourself to ensure that any equipment is compliant with the regulations: Heating appliances should be in good working order, as should other domestic appliances such as washing machines, tumble dryers, microwaves, fridge freezers and cookers. • • • • • c)

Leads should not be worn or frayed Live and moving parts should be guarded and not easily accessible No wiring should be accessible of visible All plugs should be fused and BS1363 compliant Fire extinguishers should be BS6575 compliant

GENERAL PRODUCT SAFETY REGULATIONS 1994

This legislation requires Landlords to consider the general safety of tenants in their property. The regulations require that any product supplied to a consumer in the course of a commercial activity, must be safe. This obviously includes those products supplied during the letting of the property. You are also obligated to provide consumers with relevant information regarding the risks of any product, where such risks are not immediately obvious without adequate warnings. d)

BUILDING STANDARDS REGUALTIONS

This simple legislation basically requires all new residential buildings built after June 1992 to have mains operated smoke detectors installed on each floor. In properties built before 1992 a smoke detector should be fitted on each floor. e)

BUILDING STANDARDS REGUALTIONS

Buildings whose purpose is residential lettings must meet certain building standard regulations, as set out under local council guidelines. The exact nature of the regulations does vary from council to council, but there are some general common points: • •

There will be a set of minimum standards for buildings, set by the Environmental Health Department of the local authority The department can take legal action against a Landlord, if necessary

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• 6.

Tenants have the right to take legal action if their basic environmental health needs are not met. This can be a costly and longwinded process. TAXATION FOR U.K. RESIDENTS

If you are going to be resident in the UK, you have a liability to pay tax on any profit being made from the letting of your property. You should inform the Inland Revenue that you are letting your property. Declarations can be made in you Annual Tax Return. 7.

TAXATION FOR OVERSEAS LANDLORDS If a Landlord is considered by the Inland Revenue as non-resident in the UK for taxation purposes, for example, if you are abroad, Herbert R Thomas is required to withhold tax to the amount of 20% from the rental income and to pay this tax quarterly to the Inland Revenue, unless specifically exempted by written authority from the Inland Revenue. Landlords can apply for an exemption certificate to be issued to us and for rents to be paid to the Landlord without tax deducted. The necessary forms are available from the Inland Revenue. The Landlord is still required to submit an annual statement of income and expenditure and the net tax liability to the Inland Revenue. You will only need to pay tax on any profit made on the property. Many expenses are tax deductible, for example, agency fees, insurances, repairs, mortgage interest and wear and tear on furnished properties. The best advice is to employ the service of a Chartered Accountant who will be able to help to maximize your rental income with tax concessions and allowances. Accountancy fees are a tax item and are normally cheaper in the long run than people initially consider.

8.

INVENTORIES Both services offered include a full inspection and inventory of unfurnished and fully furnished properties. Unlike most other Letting Agents, Herbert R Thomas does not make a separate charge for inventory of an unfurnished property. However, in respect of fully furnished properties we charge £25 plus VAT for undertaking a full inspection and inventory.

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9.

DEPOSIT

Herbert R Thomas will hold a deposit that is normally the equivalent of one-month rent, plus £100. Herbert R Thomas LLP holds tenancy deposits as Stakeholder. This means the agent will be independent in any dispute over damage claims. WHAT IS THE TENANCY DEPOSIT SCHEME Many tenants in the private sector give their landlords a deposit against possible nonpayment of rent or damage to property. When a tenancy comes to an end, there is usually no disagreement about the return of the deposit. But sometimes there is, and this can cause much hardship and inconvenience to both landlord and tenant. The Housing Act 2004 (Chapter 4 sections 212-5;& Schedule 10) made provision for both the protection of tenancy deposits and the resolution of disputes over their return. The legislation came into effect on 6 April 2007. After this date all deposits taken for Assured Shorthold Tenancies will be covered by a tenancy deposit protection scheme. Herbert R Thomas LLP is a member of the Tenancy Deposit Scheme, which is administered by: The Dispute Service Ltd PO Box 541 Amersham Bucks HP6 9ZR Telephone E mail Fax

0845 226 7837 [email protected] 01494 431 123

If Herbert R Thomas is instructed by the Landlord to hold the Deposit, we shall do so under the terms of the Tenancy Deposit Scheme. At the end of the tenancy covered by the Tenancy Deposit Scheme If there is no dispute then Herbert R Thomas LLP will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the Landlord, or repay the whole or the balance of the Deposit according to the conditions of the Tenancy Agreement with the Landlord and the Tenant. Payment of the Deposit will be made within 10 working days of written consent from both parties. If, after 10 working days following notification of a dispute to Herbert R Thomas LLP, and reasonable attempts have been made in that time to resolve any differences of opinion, there remains an unresolved dispute between the Landlord and the Tenant over the allocation of the Deposit will be submitted to the ICE for adjudication. All parties agree to co-operate with any adjudication.

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The statutory rights of either you/the Landlord or the Tenant(s) to take legal action against the other party remain unaffected. It is not compulsory for the parties to refer the dispute to the ICE for adjudication. The parties may, if either party chooses to do so seek the decision of the Court. However, this process may take longer and may incur further costs. Judges may, because it is a condition of the Tenancy Agreement signed by both parties, refer the dispute back to the ICE for adjudication. If the parties do agree that the dispute should be resolved by the ICE, they must accept the decision of the ICE as final and binding. If there is a dispute Herbert R Thomas LLP must remit to The Dispute Service Ltd the full deposit, less any amounts already agreed by the parties and paid over to them. This must be done within 10 working days of being told that a dispute has been registered whether or not you or Herbert R Thomas LLP want to contest it. Failure to do so will not delay the adjudication but The Dispute Service Ltd will take appropriate action to recover the deposit and discipline Herbert R Thomas LLP/The landlord. Herbert R Thomas LLP must co-operate with the ICE in the adjudication of the dispute and follow any recommendations concerning the method of the resolution of the dispute. Incorrect Information If the Landlord warrants that all the information he has provided to Herbert R Thomas LLP is correct to the best of his knowledge and belief. In the event that the Landlord provides incorrect information to Herbert R Thomas LLP which causes Herbert R Thomas LLP to suffer loss or causes legal proceedings to be taken the landlord agrees to reimburse and compensate Herbert R Thomas LLP for all losses suffered.

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TWO TIERS OF SERVICE Tier One Service: 10.

INTRODUCTION ONLY Our obligation is to appraise the property and market the home to find suitable tenants. Our usual fee for the Introduction Only Service is 5% of the ANNUAL rent plus VAT. (Subject to a minimum of £300 plus VAT). An Administration Fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars photos, to let boards and internet advertising. A fee of £50 plus VAT will be charged to register the bond. The fee is deducted from the first month’s rent and the balance forwarded to the Landlord by cheque, or banked by us on the Landlord’s behalf. THE SERVICE INCLUDES: (i)

Advise as to the rent achievable from your property

(ii)

Local advertising at agent’s discretion to locate suitable tenants

(iii)

Arranging all viewings with prospective tenants and accompanying if required

(iv)

Interviewing of Applicants and referencing through Van Mildert

(v)

Collection of the first month’s rent payable in advance and a one-month security bond, which will be forwarded to the Landlord by cheque, or banked by us on your behalf

(vi)

Dealing with the preparation of legal Agreements in accordance with the Housing Act, 1988, as amended in 1996, including any terms requested by the Landlord under The Landlord & Tenant Provisions

(vii)

Inspection and inventory of the property before the tenants move in

(viii)

Taking gas and electricity meter readings and transferring responsibility from you to the tenant. Utilities and local council are also informed. (for further information see paragraph 14).

(ix)

For an additional fee we are able to hold deposits under our Insurance based Tenancy Deposit scheme, the Dispute service www.tds.gb.com. As From the 6 April 2007, all deposits, up to the level of £25,000, taken by landlords for Assured Shorthold Tenancies in England and Wales, must be protected by a tenancy deposit protection scheme. 12

Tier Two Service: 11.

FULL MANAGEMENT

Our usual fee is 10% of the monthly rent plus VAT. However, for properties under £399 pcm, our fee is 15% of the monthly rent plus VAT. Full Management includes the service as stated in the Introduction only, but with the added service of regular inspections, organizing routine repairs and payments of Landlord’s bills. As standard, when appointed in this capacity, the Landlord undertakes to allow Herbert R Thomas LLP to carry out any routine repairs costing up to 1/3 of the monthly rental income, without the necessity to contact them. However, we will endeavour to agree routine repairs over this cost with the Landlord before we allow the contractor to carry out the works required, unless it is an emergency situation. Over the years, we have established a good working relationship with many local contractors to enable us to provide a cost effective and professional service to our Landlords. 12.

TENANCY AGREEMENT

The type of agreement that we use is called an ASSURED SHORTHOLD TENANCY AGREEMENT. The initial Agreement will be for a minimum of six months in order for us to monitor the tenancy. After this period, the Tenancy can continue on a monthly basis, or alternatively, a new Agreement can be drawn up for a further six to twelve months. The Tenancy Agreement uses provisions within the 1988 Housing Act, as amended in 1996, giving maximum protection to the Landlord. We shall produce a legal binding Tenancy Agreement document under the terms of the latest Landlord & Tenant Legislation 13.

ARE THERE ANY OTHER COSTS?

The legal costs for drawing up a Tenancy Agreement by Herbert R Thomas is £50 plus VAT for the Landlord An administration fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars, photographs and “to Let” board and Internet advertising. This will be charged on each occasion that the property is re-let. 14.

POSTAL REDIRECTION

All post must be redirected by the Landlord via the Post Office. Any post presented to us will be forwarded at our discretion. Please note that it is not the responsibility of the tenant to forward your post.

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15. COUNCIL TAX/TELEPHONE/WATER RATES/T.V. LICENCE/GAS AND ELECTRICITY It is the Tenants responsibility to pay for the Council Tax levied on the property during the term of their tenancy. When the Tenancy has commenced we will inform the Council Tax Department that you are vacating the property and advise them of the new occupants. We will inform the Water Company that you have vacated the property and advise them of the new occupants. We will take gas and electric meter readings before the commencement of the tenancy and the relevant gas and electric companies will be notified of the readings and of the new occupants. We will take gas and electric meter readings before the commencement of the tenancy and the relevant gas and electric companies will be notified of the readings and of the new occupants. We will arrange for final accounts to be sent to you, the Landlord. All Direct Debits must be cancelled accordingly. As the telephone companies carry out a full credit check, they will not accept Herbert R Thomas instruction. Therefore in order to avoid re-connection charges we suggest that both the Landlord and the Tenant advise the relevant Telephone Company of their intentions, well in advance of the day of occupation. It is the Tenant’s responsibility to pay the Television Licence. 16.

THE MONEY LAUNDERING REGULATIONS 2003

With effect from the 1st March 2004, The Money Laundering Regulations 2003 will come into force. These Regulations cover the activities of service providers amongst which includes Estate Agents. Estate Agency work has the meaning given by Section1 of the Estate Agency Act, 1979. This involves introducing to someone else people who wish to buy, sell or lease land or property and being involved in negotiating the subsequent deal. The land or property may be commercial, industrial, agricultural or residential. Consequently, all residential lettings from 1st March 2004 will be affected. In line with Banks, ISA’s and other providers of professional services we will now be required to seek proof of the identity of both the Landlord and Tenant. This proof of identity will only be required where we have not dealt with a Customer before.

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The identity to be provided is as follows (one document from each box) Identity Documents •

Current signed passport

•

Current full UK/EU Photo Card Driving Licence **

•

(Provisional Driving Licence will not be accepted)

•

Resident Permit issued by the Home Office to EU National

•

Inland Revenue Tax Notification

•

Firearms Certificate

Evidence of Address •

Current full UK Driving Licence (old style)** (Provisional Driving Licence will not be accepted)

•

A utility bill issued within the last 3 months, (but not mobile bills)

•

Local Authority Tax Bill (valid for current year)

•

Bank, Building Society or Credit Union statement containing a current address

•

The most recent original mortgage statement from a UK lender

**These items may be used to evidence identity or address but not both.

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17. QUESTIONS AND ANSWERS The following questions and answers are intended as a guide to the most common queries, but should you have a question not listed, please do not hesitate to contact us. QUESTION: Do I need anyone’s permission to let out my property? ANSWER: If the property is mortgaged or has a charge holder over it, you will need to seek their permission before renting the property out. They may request to see a copy of the Tenancy Agreement and they may charge an administration fee for the permission to let the property. Your insurance company will also need to be informed. -------------------------------------------------------------------------------------------QUESTION: Which costs am I responsible for once the Tenancy commences? ANSWER: The Landlord should continue to pay any mortgage on the property, Buildings Insurance with Third Party Liability and a proportion of the contents insurance, and any charges incurred in a Head-Lease, e.g., ground rent and maintenance charges The Tenants are responsible for insuring their own possessions in the property. -------------------------------------------------------------------------------------------QUESTION: How do I regain possession of my property? ANSWER: Following the 1988 Housing Act and its structuring in favour of Landlords, you can regain possession of the property, following statutory notice at any point after the termination of the Agreement. Should any case need to be settled within the Courts, the landlord is responsible for the appointment of their own Solicitor.

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QUESTION If I manage the property myself can I hold the deposit? ANSWER Since the introduction of the Tenancy Deposit Scheme on the 6th April 2007, Deposits must now be protected by a Deposit Scheme. This means that Landlords can no longer hold the deposit without becoming a member of a Tenancy Deposit Scheme. QUESTION: Who is responsible for the repairs in the house? ANSWER: Whilst the Tenant is required under the terms of the Agreement to keep the property in good clean condition and to carry out normal housekeeping duties. Garden maintenance is the responsibility of the tenant. The basic obligation for repairs to the house and furnishings is the Landlords. This is providing, of course, that there has been no obvious damage by the Tenant. If you request our Full Management service, we will arrange the repairs on your behalf and deduct the cost from the monthly rental. We have qualified contractors available should repairs be required. However, should you have a Contractor that you would prefer us to use, we would be more than happy to arrange for the placement of work with these tradesmen, providing they are reliable and easily contactable. -------------------------------------------------------------------------------------------QUESTION Why should I instruct Herbert R Thomas to let my house? ANSWER: We have an impressive portfolio in the Cowbridge and surrounding areas and are very experienced in all Letting and Property Management matters. Our Letting Department has grown rapidly and continuing to expand through our excellent reputation and our ability to maintain a personal service to our Landlords. We have good links with many local companies and because of our prominent location on the High Street in Cowbridge town centre, we are highly visible to members of the general public. In short, we can provide the quality, professional service that you need when dealing with the letting and management of your most important financial asset, your home.

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Agents Copy

TERMS AND CONDITIONS Fees for Residential Letting Services are payable as follows: The “Introduction Only” fee, 5% of the Annual rent plus VAT (subject to a minimum fee of £300 plus VAT) is payable in full at the commencement of the tenancy. An Administration fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars, photographs and “To Let” board and internet advertising. This will be charged on each occasion the property is re-let. Herbert R Thomas LLP offer landlords using the introduction only option the service of Herbert R Thomas holding and insuring the deposit with The Dispute Service. The charge for this service is £50.00 plus VAT. The “Full Management” fee 10% of the monthly rent plus VAT is payable monthly and is deducted from the monthly rental. The contract with Herbert R Thomas LLP, in accordance with the terms set out above, will run for the duration of the occupancy of the Tenants that are originally found by the company. In addition the Administration fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars, photographs and “To Let” board and Internet Advertising. The legal costs for drawing up the Tenancy Agreement are £50 plus VAT. This will be charged on each occasion the property is re-let. All fees payable to Herbert R Thomas LLP may be paid from monies received by Herbert R Thomas LLP on behalf of clients, where such monies are available. Any balance must be paid on receipt of an invoice/statement of account. If Herbert R Thomas is instructed by the Landlord to hold the Deposit, we shall do so under the terms of the Tenancy Deposit Scheme. At the end of the tenancy covered by the Tenancy Deposit Scheme If there is no dispute then Herbert R Thomas LLP will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the Landlord, or repay the whole or the balance of the Deposit according to the conditions of the Tenancy Agreement with the Landlord and the Tenant. Payment of the Deposit will be made within 10 working days of written consent from both parties. Our professional body, the Royal Institution of Chartered Surveyors, requires an Agreement with all our Clients in relation to interest earned on monies held in our clients’ account. Herbert R Thomas LLP operates a single client account at HSBC, 61 High St, Cowbridge and any interest earned on balances held on this account is retained to defray against bank charges enabling us to maintain our professional services at our current rates. In the event that a sale of the property should be agreed with the Tenant or any associated party during or after the tenancy and contracts should be exchanged, Herbert R Thomas LLP is entitled to commission at a rate of 3/4% (plus VAT) of the sale price. Should you change from management by Herbert R Thomas LLP to “Self Management” during a tenancy or extension or periodic, there will be a charge of ½ months rent plus VAT.

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Agents Copy

ACCEPTANCE OF TERMS AND CONDITIONS Address of Property to be rented

………………….…………………………… ………………………………………………. ……………………………………………….

Full Name (s) of Owner(s):

……………………………………………….

Correspondence address

………………………………………………. ………………………………………………. ……………………………………………….

Day Tel No:…………………………

Eve Tel No:…..……………………………..

Fax No:………………………………

Email ……………………………………….

I/We confirm that I am/we are the owner(s) of the property to be let. I/We confirm that I am/we are able to enter into this agreement. I/We instruct Herbert R Thomas LLP to provide: (delete as appropriate) Introduction Only

Full Management

On the basis of the Terms and Conditions, a copy of which I/We have received, I/We authorize Herbert R Thomas LLP to act on my/our behalf and to sign the tenancy agreement and any other documents required on my/our behalf. I/We confirm that I am/we are in receipt of written guidelines on the Gas Safety (Installation and Use) Regulations 1994 (as amended) and the Furniture and Furnishings (fire) (Safety) Regulations 1988 (as amended) and will comply with my/our obligations under these Regulations. CHANGE OF MANAGEMENT Should you change from management by Herbert R Thomas LLP to “Self Management” during a tenancy or extension or periodic, there will be a charge of ½ months rent plus VAT. VOID PERIOD Our management service does not include security or supervision of the property when it is unoccupied and not let, although in the course of finding you a tenant, periodic visits may be made to the property by Herbert R Thomas LLP staff. COMPLAINTS PROCEDURE Herbert R Thomas LLP operates a formal procedure to deal with complaints from clients and from anyone to whom an “established duty of care is owed”. A copy is available on request. DATA PROTECTION ACT Information provided by you on this form may be held by Herbert R Thomas LLP on computer.

Signed:………………………………..….Signed:……………..……………………..Date:………...………. (All joint owners must sign)

Signed:……………………………………………..………………Date …………………………………

Signed for and on behalf of Herbert R Thomas LLP 19

Landlords Copy

TERMS AND CONDITIONS Fees for Residential Letting Services are payable as follows: The “Introduction Only” fee, 5% of the Annual rent plus VAT (subject to a minimum fee of £300 plus VAT) is payable in full at the commencement of the tenancy. An Administration fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars, photographs and “To Let” board and internet advertising. This will be charged on each occasion the property is re-let. Herbert R Thomas LLP offer landlords using the introduction only option the service of Herbert R Thomas holding and insuring the deposit with The Dispute Service. The charge for this service is £50.00 plus VAT. The “Full Management” fee 10 % of the monthly rent plus VAT is payable monthly and is deducted from the monthly rental. The contract with Herbert R Thomas LLP, in accordance with the terms set out above, will run for the duration of the occupancy of the Tenants that are originally found by the company. In addition the Administration fee of £75 plus VAT will be made to cover a proportion of the advertising, particulars, photographs and “To Let” board and Internet Advertising. The legal costs for drawing up the Tenancy Agreement are £50 plus VAT. This will be charged on each occasion the property is re-let. All fees payable to Herbert R Thomas LLP may be paid from monies received by Herbert R Thomas LLP on behalf of clients, where such monies are available. Any balance must be paid on receipt of an invoice/statement of account. If Herbert R Thomas is instructed by the Landlord to hold the Deposit, we shall do so under the terms of the Tenancy Deposit Scheme. At the end of the tenancy covered by the Tenancy Deposit Scheme If there is no dispute then Herbert R Thomas LLP will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the Landlord, or repay the whole or the balance of the Deposit according to the conditions of the Tenancy Agreement with the Landlord and the Tenant. Payment of the Deposit will be made within 10 working days of written consent from both parties. Our professional body, the Royal Institution of Chartered Surveyors, requires an Agreement with all our Clients in relation to interest earned on monies held in our clients’ account. Herbert R Thomas LLP operates a single client account at HSBC, 61 High St, Cowbridge and any interest earned on balances held on this account is retained to defray against bank charges enabling us to maintain our professional services at our current rates. In the event that a sale of the property should be agreed with the Tenant or any associated party during or after the tenancy and contracts should be exchanged, Herbert R Thomas LLP is entitled to commission at a rate of 3/4% (plus VAT) of the sale price. Should you change from management by Herbert R Thomas LLP to “Self Management” during a tenancy or extension or periodic, there will be a charge of ½ months rent plus VAT.

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Landlords Copy ACCEPTANCE OF TERMS AND CONDITIONS Address of Property to be rented

………………….…………………………… ………………………………………………. ……………………………………………….

Full Name (s) of Owner(s):

……………………………………………….

Correspondence address

………………………………………………. ………………………………………………. ……………………………………………….

Day Tel No:…………………………

Eve Tel No:…..……………………………..

Fax No:………………………………

Email ……………………………………….

I/We confirm that I am/we are the owner(s) of the property to be let. I/We confirm that I am/we are able to enter into this agreement. I/We instruct Herbert R Thomas LLP to provide: (delete as appropriate) Introduction Only

Full Management

On the basis of the Terms and Conditions, a copy of which I/We have received, I/We authorize Herbert R Thomas LLP to act on my/our behalf and to sign the tenancy agreement and any other documents required on my/our behalf. I/We confirm that I am/we are in receipt of written guidelines on the Gas Safety (Installation and Use) Regulations 1994 (as amended) and the Furniture and Furnishings (fire) (Safety) Regulations 1988 (as amended) and will comply with my/our obligations under these Regulations. CHANGE OF MANAGEMENT Should you change from management by Herbert R Thomas LLP to “Self Management” during a tenancy or extension or periodic, there will be a charge of ½ months rent plus VAT. VOID PERIOD Our management service does not include security or supervision of the property when it is unoccupied and not let, although in the course of finding you a tenant, periodic visits may be made to the property by Herbert R Thomas LLP staff. COMPLAINTS PROCEDURE Herbert R Thomas LLP operates a formal procedure to deal with complaints from clients and from anyone to whom an “established duty of care is owed”. A copy is available on request. DATA PROTECTION ACT Information provided by you on this form may be held by Herbert R Thomas LLP on computer.

Signed:………………………………..….Signed:……………..……………………..Date:………...………. (All joint owners must sign)

Signed:……………………………………………..………………Date …………………………………

Signed for and on behalf of Herbert R Thomas LLP 21