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Landlord Fees & Terms

FORWARD THINKING ESTATE AGENCY

Our Landlord Services

Introduction Only

Marketing including professional photography and floorplan
Accompanied viewings
Tenant referencing
Third party detailed inventory accompanied with photographic evidence*
Deposit protection set up
Pre-tenancy documentation preparation
Accompanied check-in appointment, smoke and carbon monoxide alarms tested

Rent Collection Service

Everything in Introduction Only +

Rent review and negotiations
Collection of rent, statements and arrears management
Tenancy extension management
Access to specialist advice and updates on legislation

Full Management Service

Everything in Rent Collection Service +

Dedicated property manager
Management of routine repairs and maintenance
Management of periodic certificates Access to qualified, vetted and insured local contractors
Payment of property related invoices Periodic visits with written and photographic report
Negotiating claims on the tenant’s deposit
Management of tenant’s deposit release

* subject to additional costs

Please see below an explanation of our fees and commissions

Service Levels	Commission	Cost including VAT
Full Management Service	10% pcm	12% pcm
Rent Collection Service	8% pcm	9.6% pcm
Introduction Only Service	1 calendar month	1 calendar month + VAT

*Each new tenancy is subject to a £350 tenancy set up admin fee*pcm = per calendar month*

Additional Services	Fee	Cost including VAT
Referencing (per Tenant/Guarantor)	£25	£30
Tenancy Agreement	£100	£120
Tenancy Renewal/Extension	£100	£120
Deposit Protection	£20	£24
Third Party Inventory Report	Subject To Quotation	Subject To Quotation
Third Party Check Out Report	Subject To Quotation	Subject To Quotation
Energy Performance Certificate	£62.50	£75
Gas Safety Certificate	£70	£84
Electrical Installation Condition Report	£150	£180
Legionella Risk Assessment	£100	£120
Additional Property Visits (per visit)	£50	£60

*Any additional services required that are not listed above are subject to quotation*

We have a duty of care to our landlords to ensure that you are fully aware of the terms of the service which we are to provide you with. This contract is our legal binding agreement between Jack Taggart & Co and yourself for the letting of your property. These Terms of Business provide this information and serve as the contract between us. Please read the below Terms of Business to ensure you are fully aware of the terms outlined for the service which we will provide.

Selection of Tenants

We will use our professional judgement in order to secure you the best possible tenant(s) and will report all offers to you. If our referencing company subject to referencing recommend a guarantor in place or should you specifically ask for one in place, then we request this as a condition of the tenancy, although we will make all efforts to minimise issues or rent arrears, we cannot guarantee the rental payments. We can offer you a Rent Protection & Legal Expenses Insurance (subject to additional fee).

References

We use Goodlord for our referencing process who look to obtain references on our behalf to assess the suitable of prospective tenant(s). They will check income, employment, previous landlords (if applicable) and search for bankruptcy, insolvency, CCJs, Orders and Arrangements. Should you wish to make your own decision as to the references before the commencement of tenancy, please inform us at the time you instruct us to be your agent.

Tenancy Agreement & Signing Documentation on Your Behalf

Our tenancy agreements are prepared and executed by Goodlord. The standard agreements are in a form of an Assured Shorthold Agreement. By accepting these terms and conditions, you give us
your permission and authority for us to sign and complete the tenancy agreement on your behalf, as your agents. You also authorise us to amend any details of the tenancy agreement prior to it
being completed and executed by all parties, but only with your prior instruction. If there are any special tenancy conditions you would want incorporated with the tenancy agreement, please ensure you provide these to us in writing prior to the tenancy agreement being drawn up.

Rent & Accounting

If you have selected our Rent Collection Service or our Full Management Service, we will deduct our fees and any expenses incurred from the rent. If the tenant fails to pay any rent on the due date we will follow a standard procedure for the collection of arrears of rent, and we reserve the right to vary the procedures at any given time. The net amounts payable to you will be transferred to your Bank promptly on receipt by us of cleared funds, using the BACS system. Where you require payment to be made to you out of the country, or by a method which incurs bank charges, you will be responsible for payment of such charges. We will provide you with a regular statement of account when requested showing rents received and our charges, including expenses incurred on your behalf. Finally, you can also request an end of tax year statement which can help yourself/accountant.

Right To Rent

Before a tenancy begins, landlords in England have a legal obligation to make sure that their tenant and any permitted occupants living at the property have the right to remain in the UK prior to the commencement of the tenancy. If they have this right but for a limited time, follow-up checks are required. Our Goodlord service check and verify prospective tenants’ documentation to ensure they have the correct status and have the right to rent a property. It is unlawful discrimination to restrict the length of a tenancy or refuse to grant a tenancy based on the right-to-rent checks, except where some or all of the tenants or Occupants have failed the checks. For more information, visit https://www.gov.uk/check-tenant-right-to-rent-documents.

Your Status

When instructing us to be your chosen agent, you must inform us of your status i.e., whether the property is freehold, share of freehold or leasehold, resident or non-resident landlord, agent or have power of attorney which is confirmed with documentation such as a land registry or solicitors. Where necessary, you will have to obtain permission and authority from freeholder and
mortgage provider to let out the property which will need to be done before the tenancy is drawn up.

Taxation

It is the duty and responsibility of the landlord to pay the tax due on rent income, whether we have collected the rent on your behalf as your agent or not. If you are a non-resident landlord for tax purposes, we as the agent are obliged to deduct tax from the rental income unless we have an exemption number for all named landlords. You must inform us in writing that you are a nonresident landlord prior to the tenancy, or if at any time during the tenancy you become a nonresident landlord for tax purposes. Failure to provide this information will make you liable for any sums (including without limitation any penalties and interest) we have to pay to HMRC, and you agree to indemnify us accordingly.

Rent Protection & Legal Expenses Cover

If you opt for the Rent Protection & Legal Expenses Cover at the stage the tenancy is being drawn up, you have the option for either 6months or 12months cover. The protection will not be renewed
automatically and although we will make attempts to contact you (Full Management and Rental Collection landlords only) as part of our renewal process, we will not continue the cover unless you specifically instruct us in writing to do so.

Energy Performance Certificates (EPC’s)

As from 1 April 2018, any rented property is normally required to have a minimum Energy Performance Certificate (EPC) rating of E. There is a PRS Exemptions Register for properties which cannot be improved to meet this minimum standard. The EPC rating must also be included in advertising and marketing material. We can organise this on your behalf at an additional cost or
otherwise you will need to make your own arrangements prior to us marketing.

Gas Safety Certificates (GSC’s)

It is a mandatory requirement that any property being let which has a gas supply to the property must have an annual Gas Safety Inspection carried out by a contractor registered on the Gas Safe
website. If you are opted into our Full Management Service, we will instruct a qualified contractor to carry out the Gas Safety Certificate on your behalf to ensure your compliance. The cost of this
will be deducted from the rental income. If you would like to arrange your own Gas Safety Certificate, please inform us at the time of instruction. For all non-Full Management Service properties, you as landlord are entirely responsible for compliance with the Gas Safety Regulations and we as agent exclude all liability and responsibility for the same.

Electrical Installation Condition Report (EICR’s)

As from 1 June 2020, for any new or renewed tenancy in England all fixed electrical installations must be tested at least every 5 years by a qualified person with any Category 1 or 2 hazards and FI notifications attended to within a prescribed time frame. You must make sure your tenant has a copy of the inspection report before the start of the tenancy.

Smoke & Carbon-Monoxide Alarms

Each property must be installed with at least one smoke detector on each floor of the property that is classed as living accommodation (including bedrooms and bathrooms). A carbon-monoxide
alarm must also be installed in any room which is used as living accommodation and which contains a solid-fuel-burning appliance. The alarms will be tested to ensure they are in working order at the start of the tenancy. All alarms, including those wired into the mains supply, have a limited lifespan of between five and ten years. A replacement date is usually printed on the alarm, but you can’t always see it unless you remove the alarm. If you are not sure how old an alarm is, ask an electrician to tell you when it will need replacing, or ask them to replace it.

Furnishing

You must make sure that all upholstered furniture you provide meets fire-resistance standards. Labels attached to all new upholstered furniture show these standards. Separate European Standards for Safety deal with internal window blinds and shutters, and the danger posed by cords and chains to babies and young children.

Tenancy Renewal

We will contact you to advise that the tenancy agreement is due for renewal, and it is your duty to advise us whether you are happy to renew the tenancy or require us to serve any statutory notices on the tenant(s). We will agree a suitable extension and any changes to the terms or the rent of the tenancy in accordance with instructions received from yourself. Tenancy extensions are chargeable at an extra cost.

Fees & Charges

We will charge fees for the service we provide you as your agent. All fees are subject to Value Added Tax. Where we have expenditure, which is made properly on your behalf, you agree to indemnify us fully and agree to make payment to us to settle the bill. We will invoice you if this happens and payment will need to be made to us withing 14 days of the date on the invoice.

Tenant Purchase

If a tenant introduced by Jack Taggart & Co subsequently purchases the property at any time (a “tenant purchase”) you will be responsible for letting us know and a fee of 1.5% + VAT of the purchase price will be due to us. We will invoice you if this happens and request payment to be made within 28 days of the date of the invoice. All fees are payable for the duration of the time a tenant Jack Taggart & Co introduced to you remains at the property; with the exception of the fee payable on a tenant purchase which will always remain due to us.

Enforcement & Termination of Tenancy

If there are arrears or the tenant is in breach of any other terms of the tenancy agreement, we will notify you within 7 days of our receiving notice of this. We will instruct solicitors on your behalf if
required, however you will be responsible for all solicitors’ fees and will ask solicitors to advise you directly. Upon the termination of the Tenancy Agreement (or of any extension) if the tenant fails to move out of the property, then it will be necessary to obtain a Court Order for vacant possession of your property. We will instruct solicitors on your behalf if required, however you will be responsible for all solicitors’ fees, and we will ask solicitors to advise you direct.

Periodic Visits

With our Full Management Service, we will visit the property regularly (time scale to be agreed with yourself) and a written report with photographic evidence will be generated and a copy send to yourself. Our visits will be a visual inspection only for the purpose of establishing whether there is any obvious damage or disrepair.

Repairs

With our Full Management Service, you agree to give us authority for maintenance and repairs up to an agreed limit. We will use our own judgement to conclude whether repairs are necessary and the type of required repair. Any repairs required that appear to cost more than the pre agreed amount, we will discuss with you, and it is down to you to determine the steps we take to remedy the required works. Maintenance works identified will be instructed on the basis that the cost of the repair is to be paid by the landlord. Where we arrange contractors to attend and make repairs at your property, we will appoint local established contractors to carry these out. Should you have a list of preferred contractors that you would like us to use, please let us know their details at the time that you instruct us to be your agent. The cost of any maintenance/repairs will be subtracted from the rent we receive, if we experience any cost in excess of the rent we receive, we will invoice you and payment will need to be made to us within 14 days of the date on the invoice.

Security Deposit & Deposit Protection

The tenant is required to pay the maximum amount of security deposit which equates to 5 weeks’ worth of rent. This deposit will be taken prior to the commencement of the tenancy to safeguard yourself and your property. It is a mandatory requirement by law that the deposit whether collected by us as your agent or the landlord is registered and protected by one of the governments
registered statutory schemes withing 30 days of the tenancy start date. Compliance must be met to the regulations for the use of any money collected for a security deposit and the referral of any disputes to the Deposit Protection Service. If you have chosen our Full Management or Rent Collection service, we will register the deposit at an additional cost to you as agreed at the initial instruction stage. At the end of the tenancy, the tenant(s) has 90 days to raise a dispute. Please see further information at https://www.gov.uk/tenancy-deposit-protection or https://www.depositprotection.com/

Insurance

It is the landlord’s responsibility to correctly insure the property and your contents for the duration of the tenancy and for any period when the property may be vacant. Landlord’s buildings
or landlord’s buildings and contents insurance is recommended to be in place. In the event we become aware of any damage occurring which may come within the terms of the insurance, we will
report to you in order that you may make a claim as necessary. If Jack Taggart & Co submit a claim on your behalf a charge of £100 plus VAT is payable, this covers up to two hours work and then additional hours are chargeable at £50 plus VAT.

Remarketing

When the property returns to the market at the end of the tenancy, we can advise on an up-to-date rental valuation and any improvements that are needed to get the best possible rent and to minimise any void periods.

Local Authority Licensing – Houses in Multiple Occupation

Based on the type of property, its location, occupancy and the policy applied by the Local Authority in which the property is located, a licence may be required. It is important that you are familiar with the requirements in your area and how these might apply to a proposed tenancy. For Let Only and Rent Collect Services, as we do not manage the property, you as licence holder are obligated to provide out of hours emergency cover and contact details as required under the licence conditions.

Indemnity

You agree to reimburse us in full all costs, expenses (including legal expenses) or liabilities incurred by us in carrying out our services including but not limited to the following:

a) Any costs, claims, expenses or liabilities incurred by us as a result of any false, misleading or missing information provided by you.

b) Any costs, claims, expenses or liabilities incurred by us as a result of your failure to comply with any applicable law, including but not limited to any failure to comply with your obligations set out in these Terms.

c) Any costs, claims, expenses or liabilities incurred by us as a result of any instruction given by you to refuse to grant a Tenancy to any prospective Tenant for whatever reason.

d) Any costs, claims, expenses or liabilities incurred by us as a result of prosecution or civil
penalty.

e) Any costs, claims, expenses or liabilities incurred by us as a result of any action by you.

f) Any costs, claims, expenses or liabilities incurred by us as a result of your failure to supply us information or prompt instructions.

Exclusion of Liability

We will provide our services using reasonable care and skill. We do not seek to exclude liability for our own negligence. However, we do not:

a) Give any warranty or guarantee regarding the suitability of any Tenant, or their compliance with the Tenancy.

b) Accept any liability to you should any information in any prospective Tenant’s references prove to be false, inaccurate or misleading.

c) Accept any liability for any acts or omissions of any third party engaged by us on your behalf, including referencing services, unless we failed to exercise reasonable care and skill in their
selection.

Termination of Services

If you choose to withdraw your instruction with Jack Taggart & Co before the tenancy starts, we will be entitled to invoice you for reasonable expenses incurred for the marketing and time spent on your property. Our Full Management and Rent Collect services are subject to a minimum duration of 6 months from the tenancy start date and in the unlikely scenario that you wish to terminate our appointment as your agent, we require three calendar months written notice.

Consequences of Termination

If you do go ahead and terminate our appointment under our Full Management, Rent Collection or
Introduction Only services but continue the tenancy with the tenant(s) introduced by Jack Taggart & Co, you are liable to pay us commission due which is the equivalent of our Rent Collection Service fee for the duration of the earliest date of:

a) 24 months from the date the Tenancy commenced and

b) The date the Tenant leaves the Property. This fee applies even if the renewal or extension of the Tenancy is negotiated by another agent or the Landlord direct. Where we hold the deposit, within 28 days of terminating our appointment for any reason, you must arrange for the transfer of the Deposit. If you fail to arrange this transfer, we will charge a Deposit Transfer Fee to reflect the ongoing costs incurred by us in maintaining the Deposit. Following termination, we will invoice you for the Commission Fee and you must pay us within
fourteen (14) days of the invoice date.

Sole Agency

On instruction of our services, you confirm to appointing us as sole agent, this will be for a minimum period of eight (8) weeks starting on the date we start providing the Services. If you have previously instructed another agent to let the Property, you should terminate any agreement prior to appointing us, otherwise you risk paying fees to both us and another agent. If an agreement to rent the Property is signed with a Tenant introduced by another agent or any other person during the sole agency period, our appointment under these Terms will immediately terminate and you must pay a Fee equivalent to our standard Introduction Only Service.

Complaints & Redress

We are members of The Property Ombudsman (TPO) Scheme and subscribe to the TPO Code of Practice for Letting Agents. If you wish to raise a complaint, please contact your local lettings office in the first instance to discuss your concerns with us and we will endeavour to resolve them promptly and efficiently.