Terms of Business

AGENCY AGREEMENT

This Agreement sets out the terms of business between Lords Cover Ltd and the Landlord or property owner purchasing the services. By purchasing any services from Lords Cover Ltd, the Landlord or property owner is deemed to have accepted and agreed to be bound by these terms of business. The Landlord or property owner has selected the level of service to be provided in respect of the relevant rental property or properties.

These Terms of Business apply to all services provided by Lords Cover Ltd under its Pay-As-You-Let™ lettings and property management offering.

Definitions and interpretation:

The “Landlord or Owner”, “owner”, “property owner”, “you”, or “your” means the person or persons purchasing the services as Landlord or Owner of the subject Property and will include any others with a legal interest in the Property, whether this has been disclosed or not. Where the party consists of more than one entity or person the obligations apply to and are enforceable against them jointly and severally. Joint and several liability means that any one of the members of a party can be held responsible for the full obligations under the agreement if the other members do not fulfil their obligations.
The “Agent”, “our”, “we” or “us” means Lords Cover Ltd, registration # 16576957, Unit 1 119 Orts Road, Reading, RG1 3JN. (Correspondence Only).
The “Tenant” means the party named in the tenancy agreement as the Tenant of the Property.
The “Property” means the Property address of the Property to be let including all outbuildings, grounds, fences, boundaries etc.
The headings in this agreement are for assistance in reading it only and do not form part of the agreement.

The following are applicable to all tenancies regardless of which deposit scheme is used. The level of service required and selected by the Landlord or Owner is reliant upon the information given to the Agent by the Landlord or Owner.

The Agent shall be legally obliged to provide, and the Landlord or Owner shall be entitled to receive, only those specific services that have been selected, purchased and paid for by the Landlord or Owner. No obligation shall arise in respect of any service that has not been purchased.

1. Service levels

1.1 Lettings Services

1.1a Owner / Landlord or Owner Check

In order to comply with government legislation, the Agent will arrange for the paperwork and other requirements associated with the Property.
We will not be responsible for checking the licensing status of the Property under Parts 2 and 3, Housing Act 2004 or confirming that you have appropriate planning permission or all necessary permissions from mortgagees, insurers, or other legal or beneficial owners of the Property.

1.1b Tenant / Guarantor Check

Agent will be responsible for complying with all applicable legal obligations relating to right to rent checks under the Immigration Act 2014 and any other applicable immigration legislation.
Where service has not been purchased from the Agent the Landlord or Owner shall be responsible for complying with all applicable legal obligations relating to right to rent checks under the Immigration Act 2014 and any other applicable immigration legislation. The Landlord or Owner shall also be responsible for complying with any other statutory requirements relevant to the letting of the Property.

1.1c Advertising

Including all online, social, property To-Let boards, floorplans and professional property photos & videos.
The Agent will promote the Property in appropriate ways to find a suitable tenant for the Property over a six-week period. If required, the Landlord or Owner may purchase additional segments of six-week blocks until the property is let.
If the Agent feels it will provide better service, the Agent can arrange to instruct sub-agents to assist in the marketing or management of the Property. This will be at no additional cost to the Landlord or Owner unless specifically agreed and confirmed in writing.
Landlord or Owner/owner must provide the photos, videos and floorplans if these services have not been purchased through Agent.

1.1d Enquiries & Viewings Management

The Agent will handle all property enquiries during the advertising period.
The Agent will arrange viewings with prospective tenants either in co-ordination with the current occupier or with the Landlord or Owner/owner. Agent will not accompany prospective tenant unless agreed otherwise, which may incur a separate charge.
Once a prospective tenant is found who is interested in the Property, they will be asked to complete application information giving details about themselves.
The Agent will carry out an initial affordability check using the information provided by the applicant and provide the Landlord or Owner with details of suitable applicants.

1.1e Tenancy Setup

The Agent will set up the necessary paperwork to let the Property on an appropriate tenancy or licence.
The Agent will sign up the Tenant and collect any money due and give the Tenant copies of the appropriate paperwork.
The Agent will collect the tenancy deposit and secure it with an approved tenancy deposit protection scheme and will administer the return of the deposit at the end of the tenancy.
If a dispute arises regarding the return of the deposit, the Agent will provide reasonable assistance to the Landlord or Owner throughout the dispute resolution process.
Where the Landlord or Owner has not purchased the Agent's inventory service and/or rent collection and arrears management service, an additional fee may be charged in respect with assisting with any end of tenancy disputes. Any such fee will be quoted on a case-by-case basis and must be agreed by the Landlord or Owner.
The Agent reserves the right to decline to act on behalf of the Landlord or Owner in any deposit dispute where insufficient documentation, records or evidence are available to enable the Agent to provide appropriate assistance.
Where the Landlord or Owner has not purchased the Tenancy Setup service, they shall be solely responsible for complying with all applicable tenancy legislation, including the preparation and service of all required documentation and, where applicable, the protection of the tenancy deposit. The Agent accepts no liability for any loss, penalty, claim or consequence arising from the Landlord or Owner's or Owner's failure to comply with such legal obligations.
The Agent will send the Landlord or Owner the funds, less any applicable expenses or outstanding invoices, and the paperwork once the tenancy has started.
Agent will provide Landlord or Owner with Legionella Risk Assessment Form which must be completed before the start of any tenancy.

1.1f Self-serve Inventory App

The Agent will provide access to its inventory application for use by the Landlord or Owner. A compatible device with a camera, such as a smartphone or tablet, is required to complete the inventory process. Upon completion of the guided process, a professionally formatted inventory report will be generated. A copy of the report will be emailed to the Landlord or Owner and, where applicable, made available via the Landlord or Owner Portal.

1.1g Inventory, Check-in and Check-out

The Agent will arrange for the initial production and subsequent agreement of an inventory and schedule of condition of the Property.
The Agent will email the final report to the Landlord or Owner and, where applicable, make available via the Landlord or Owner Portal.

1.1h Property Valuations

The Agent will provide the Landlord or Owner with an estimated rental valuation for the Property by means of a professional emailed report. The valuation will be based on current market conditions, comparable rental properties in the local area and other relevant market data available at the time of assessment. The valuation is provided as an estimate only and does not guarantee that the Property will achieve the stated rental value.

1.2 Property Management Services

1.2a Property Inspection

The Agent will make reasonable efforts to carry out inspection visits to the Property, subject to circumstances beyond our control, Tenant refusal etc. and send a report to the Landlord or Owner. Such visits and reports can only be regarded as general oversight of the Property and its care by the Tenant and will only detect matters which are obvious on a cursory visual inspection. The Agent does not accept responsibility for any actual variance between the report and the items reported upon.
The Landlord or Owner will not hold the Agent liable, and will refund any losses to the Agent, for the cost of complying with any existing or future legislation affecting the letting of the Property and the cost of repairing and removing, and replacing any dangerous and/or defective equipment and/or furnishings with safe and compliant equipment and/or furnishings.
The Agent should be informed immediately of any substantial change affecting the Property and/or the Agent’s management of it regarding specific services acquired. The Landlord or Owner accepts that the Agent can best carry out their management function if they are aware of possible problems arising.

1.2b Rent Collection & Arrears Monitoring

The Agent will use reasonable endeavours to collect rents or other charges due from the Tenant and provide monthly statements to the Landlord or Owner/owner. However, the Agent will not be liable for the amount of any arrears nor for any legal or other costs incurred by the Agent or the Landlord or Owner or any other party in respect of the recovery of such arrears.
The Agent will use reasonable endeavours to assist with recovering possession of the Property in accordance with instructions received but cannot be liable for any delays, damages or costs incurred because such vacant possession is not achieved within the timescale requested. It will be the responsibility of the Landlord or Owner to instruct solicitors with whom the Agent will liaise. The Agent will not be liable for any legal or other costs incurred in any action against current or previous Tenants undertaken on the Landlord or Owner’s instructions.
In order to minimise our environmental impact, we will email rent statements and invoices to the email address provided, unless otherwise requested.
The Agent agrees to account to and pay the Landlord or Owner any rent collected less fees or other charges due.
If the Landlord or Owner resides or is incorporated overseas, the Agent must account to HM Revenue and Customs for the rental received and this can include deducting the basic rate of income tax or the equivalent sum for companies. To avoid this, the Landlord or Owner must apply to HM Revenue and Customs for approval for gross rents to be paid. If such approval is not obtained, an extra charge will apply, as per our websites listed pricing, to cover the cost of the extra work involved.

1.2c Rent Reviews

The Agent will carry out a rent review based on an assessment of the current rental market and comparable local properties. Where a rent increase is within legal parameters Agent will seek approval from Landlord or Owner.
Agent will then prepare and issue the appropriate rent increase notice or correspondence to the Tenant on the Landlord or Owner's behalf, in accordance with applicable legislation.

1.2d Utilities Management

The Agent will notify the relevant utility providers of the Tenant's details upon the commencement and termination of the tenancy, where such information is available.
Agent may use a third party to assist in the notifications. Landlord or Owner may benefit from void cover when we use this service.
In certain circumstances where old tenant has left substantial utility debt our third-party utility notifications provider may be able to negotiate or have the debt cancelled.
Where inventory service is not being carried out by Agent. Landlord or Owner have the responsibility of passing the meter readings to the Agent.

1.2e Safety Certificate Tracking

The Agent will track expiry dates of regulatory certificates and inform Landlord or Owner 2 weeks before expiry.
The Agent will provide a quote for a new certificate along with the reminder notification.
The service concludes once the Landlord or Owner has been notified that the certificate has expired. To continue having the Agent monitor and track certificate expirations, the Landlord or Owner must purchase a new tracking service.

1.2f Repairs

The Agent will use reasonable endeavours to arrange repairs and general maintenance to the Property were requested by the Landlord or Owner/owner or where this service has been purchased online. The Landlord or Owner will be invoiced for any repairs requested.
Where the Tenant reports a maintenance issue to the Agent, the Agent will obtain and provide the Landlord or Owner with a quotation for the required works before instructing any contractor, unless the matter constitutes an emergency.
For the purposes of these Terms, an emergency includes, but is not limited to, a gas leak, water leak, failure of the sole toilet, loss of heating during cold weather, or where the Property is insecure through no fault of the Tenant. Where an emergency arises and the Landlord or Owner cannot be contacted within a reasonable period, the Agent is authorised to instruct contractors to carry out such works as are reasonably necessary to protect the Property, comply with the Landlord or Owner's legal obligations or safeguard the health and safety of the occupants. The Landlord or Owner shall remain fully responsible for the cost of all such works and any associated contractor charges.
The Agent will charge an additional fee of £150 for emergency out of hours call outs in addition to the contractor’s charges.
Cancellations must be made at least 24 hours before the scheduled appointment. Any cancellation made within this timeframe will incur the full-service charge.

1.3 Referencing Services

1.3a Landlord or Owner / Owner, Tenant & Guarantor Referencing

The Agent will perform references appropriate to the circumstances of the prospective tenant. This may be done by the Agent or may be outsourced to a referencing company as the Agent thinks fit.
The Agent will carry out all referencing checks and use reasonable skill and care to assess applicants, with the aim of helping protect the Landlord or Owner from unsuitable tenants.

1.3b Comprehensive Plus & Legal Cover

Used for gaining possession only, no recovery of rental arrears.
Legal Cover provider has the right to accept or decline applications or request that the prospective tenants have a guarantor in place before providing cover.
If the cover is declined, a refund will be issued for the insurance cover portion of the fee only. The referencing fee is non-refundable.

1.3c Subject Access Requests

The Agent will review your request and provide the relevant personal data we hold, subject to any legal exemptions that may apply according to UK data protection law.

1.4 Compliance & Safety Services

The Agent shall only be responsible for arranging or obtaining those statutory certificates, inspections and assessments that the Landlord or Owner/Owner has expressly purchased as part of the services provided by the Agent. Where the Landlord or Owner/Owner has not purchased such services from the Agent or made a request for such services by email or contact form, the Landlord or Owner/Owner shall be solely responsible for obtaining and maintaining all certificates, inspections and assessments required by applicable legislation. Where applicable, this includes, but is not limited to, a valid Gas Safety Record, an Energy Performance Certificate (EPC), an Electrical Installation Condition Report (EICR), Portable Appliance Testing (PAT) where required, a Fire Risk Assessment, an Asbestos Risk Assessment and a Legionella Risk Assessment. The Landlord or Owner/Owner shall be responsible for all costs associated with obtaining, renewing and maintaining such certificates, inspections and assessments.
If Landlord or Owner/owner already holds valid paperwork, all current copies must be supplied to the Agent on instruction and no later than the start of the tenancy if the Agent is providing lettings and property management services.

1.5 Bespoke Maintenance Quotes

The Agent will endeavour to obtain a competitive quotation for the Landlord or Owner and, where the required work falls within the Agent's capabilities, may carry out and arrange the necessary work.

1.6 Standalone Services – Other Services

The Agent provides these services in addition to lettings and property management. These services do not require mandatory checks to be completed.

1.7 Insurance Referrals

The Landlord or Owner is responsible for arranging and maintaining adequate buildings and contents insurance for the Property at all times, unless otherwise agreed in writing by the Agent. The Landlord or Owner must notify the Agent in writing of any requirements or actions necessary to maintain the validity or continuity of the insurance policy, including but not limited to policy renewals or any periods during which the Property is vacant.
Where the Agent introduces the Landlord or Owner to an insurance provider, the Agent acts solely as an introducer and does not provide insurance advice.

1.8 Rental Protection Guarantee

The Agent is the policy holder of the rent guarantee insurance. The Landlord or Owner will be an interested party only and this service will not constitute the Landlord or Owner as being a policy holder.
The Agent is responsible for making any claims and completing all relevant paperwork to ensure the policy remains effective for the Landlord or Owner to benefit from their interest in the policy.
If Landlord or Owner fails to pay the monthly or annual instalment, the policy will be immediately cancelled, and no cover will be provided from the point of cancellation.
The Landlord or Owner confirms they meet the following conditions, and if these conditions are not met, the service will be cancelled immediately, no payments will be refunded:
o All tenants have undergone satisfactory referencing (credit check only referencing is not sufficient).
o The rent collection service has been purchased from the Agent.
o All rents are paid up to date at the point of transfer or service commencement with no arrears in the 6 months immediately prior to a transfer.
o A deposit was taken and protected in line with legislation.
o The first month’s rent was received in full and in cleared funds prior to the start of the tenancy.
o Inventory has been done & all other mandatory Safety Certificates are valid.
o Rent in advance tenancies are not permitted.
o The monthly rent does not exceed £3,500.
o Residential tenancies only - no lets on an Airbnb or holiday let arrangements.
The Landlord or Owner is responsible for providing the Agent with relevant documentation as mentioned in the above conditions, if the Landlord or Owner has not used the Agents services for referencing, safety certificates, deposit protection, inventory or tenancy agreements.
The Agent will provide the Landlord or Owner with the policy details when the service is purchased. The Landlord or Owner will have up to 14 days to cancel the rental protection guarantee and must inform the Agent within business hours of the cancellation request to receive a full refund.
If the Landlord or Owner requests cancellation on or after 5pm on the 14th day: A pro-rata premium will be calculated, reversing the annual discount for each full month the guarantee has been active, and any remaining service fee will be refunded; partial months are non-refundable.

2. The Landlord or Owner agrees and confirms:

2.1 That the Landlord or Owner will provide evidence in the form of a land registry entry or other that the Landlord or Owner is either the legal owner of the Property or that the Landlord or Owner is authorised by the owner to enter into this agreement and is entitled to receive rental income.

2.2 That the Agent is appointed as Agent for the Landlord or Owner of the Property once services have been purchased or requested by Landlord or Owner.

2.3 That the Landlord or Owner gives the Agent authority to act on the Landlord or Owner’s behalf and to do anything which the Landlord or Owner could do and that the Landlord or Owner will approve of everything done by the Agent in good faith except for negligent acts, omissions or breach of contract.

2.4 That the Property is fit to be let, compliant with all statutory requirements, safe to be let and all appliances and goods are in full working order, serviced and have safety instructions for use.

2.5 That the Property will be clean prior to letting and any garden will be neat and tidy for the season.

2.6 That the Property and contents (if applicable) are adequately insured and that the insurance company is aware of, and consents to, the letting of the Property.

2.7 That where the Property is subject to a mortgage, the Landlord or Owner has consent to let the Property and that the Landlord or Owner will supply a written copy of the consent to the Agent prior to letting.

2.8 That if the Property is leasehold, the Landlord or Owner will obtain any necessary consent from the freeholder and/or the property management company for letting and supply the Agent with a copy of the lease and the freeholder’s consent prior to the letting.

2.9 That the Landlord or Owner has consent from all necessary persons, including any legal or beneficial owners to instruct the Agent and let the Property.

2.10 That the Agent or any of the employees of the Agent may sign the tenancy agreement, notices and any relevant documentation for and on behalf of the Landlord or Owner.

2.11 By agreement with the Tenant, and subject to any statutory limitations, the Agent may agree that the tenancy agreement and relevant documentation may be signed electronically.

2.12 That the Property will be supplied with a minimum of one working smoke alarm per floor and a carbon monoxide alarm in every room as specified by legislation, and, if not present, the Agent can arrange for the fitting of appropriate alarms at the Landlord or Owner’s expense.

2.13 That the Landlord or Owner confirms that they are not subject to a Banning Order.

2.14 That the Landlord or Owner will notify the Agent, at the earliest opportunity but within seven days, if the address or residency status or any other details of the Landlord or Owner, or any joint Landlord or Owner changes.

2.15 That the Landlord or Owner will provide all and any material information requested that may affect a consumer’s decision, before the Property can be marketed.

2.16 That neither the Landlord or Owner nor any joint Landlord or Owner, nor any beneficial owners of the Property, are designated or a specified person or entity under the Sanctions and Anti-Money Laundering Act 2018.

2.17 That the Agent is not responsible for the management of the building or communal areas of the building where it comprises of more than one property. Any agreement to manage the building and / or the communal areas would be subject to a separate agreement.

3. The Agent:

3.1 Will not, as part of the regular management of the Property, be responsible for the supervision or management of any major building work or refurbishment of the Property, unless agreed between the Landlord or Owner and the Agent in writing prior to the commencement of the project and upon terms to be agreed.

3.2 Is not liable for any loss or damage arising from the defective work, substandard repair or any other default by a contractor engaged by the Agent, unless there has been any negligent act by the Agent in relation to the selection or management of the contractor or the repair work.

3.3 Is not responsible for redirecting the Landlord or Owner’s post delivered to the Property.

3.4 May delegate any of the services to be provided to the Landlord or Owner, such as inventory taking or referencing of prospective tenants, where it does not adversely prejudice the Landlord or Owner by doing so.

3.5 Is not responsible for any latent (hidden) defect in the Property.

3.6 Will not be liable for any loss or damage suffered by the Landlord or Owner via the act, negligence and omission of any third party which may arise, otherwise than through the negligence of the Agent.

3.7 Will not attend court or any tribunal in relation to the Property as part of the regular management of the Property unless agreed between the Landlord or Owner and the Agent beforehand or unless as a matter of law the Agent is required to attend. Prices for such work are in the Scale of Charges.

3.8 Will notify the Landlord or Owner of any notices the Agent receives in relation to the Property.

3.9 May, at their discretion, prepare and serve legal notices required relating to the letting, subject to the level of service requested.

3.10 The Agent will use its best endeavours to notify the Landlord or Owner whether or not the Property requires a licence under an existing or new licensing scheme under the Housing Act 2004. Where a licence is required, and a licence has not already been issued, the Landlord or Owner will apply for the licence and pay the applicable fee. The Landlord or Owner will apply for a renewal of the licence in good time, when this is needed. The Landlord or Owner will provide the Agent with a copy of the licence or confirmation from the local authority that a licence application has been received, before the new scheme is in force, before the Property is first let or before the licence is due for renewal, as appropriate. The Landlord or Owner will not hold the Agent liable, and will refund any losses to the Agent, for any fines or other penalties as a result of the Landlord or Owner’s failure to make an application for, or renew, a licence and pay the fee.

4. Financial matters:

4.1 The Landlord or Owner will compensate and reimburse the Agent for all costs and expenses, penalties, claims or liabilities incurred or imposed upon the Agent including anything awarded by a court in connection with the management of the Property under this agreement, unless the loss or liability arises through negligence or breach of contract on the part of the Agent.

4.2 The Landlord or Owner will pay to the Agent fees, commission and expenses appropriate to the level of service required by the Landlord or Owner as set out on the attached Scale of Charges or any revision of the Scale of Charges notified to the Landlord or Owner in accordance with this agreement.

4.3 Where the service has not been paid upfront, the Agent will pay for repairs out of rent money held and where the monies held are insufficient to cover the cost of a repair, the Landlord or Owner will pay the Agent any shortfall upon demand.

4.4 The Agent may update pricing and service level from time to time; any update will not affect services already prepaid.

4.5 The Agent shall be entitled to retain interest earned on any money held on the Landlord or Owner’s behalf and any commission or referral fees from, but not limited to, insurance companies, referencing companies, utility companies, contractors and any fees charged to tenants while acting on the Landlord or Owner’s behalf in accordance with the Scale of Charges below. Details of such income received by the Agent can be provided to the Landlord or Owner on request.

4.6 The Landlord or Owner and the Agent will comply with all requirements of HM Revenue and Customs.

4.7 The Agent will, if required, supply duplicate rental statements and annual statements and the Landlord or Owner will pay the additional cost as set out on the Scale of Charges.

4.8 Where the Tenant is in receipt of benefits, the Landlord or Owner will not hold the Agent liable, and will refund any losses to the Agent, for any requirement to refund benefits.

4.9 Where there is a claim on the Landlord or Owner’s insurance, the Agent will, as far as the law permits, assist with the claim where necessary and the Landlord or Owner will pay the Agent’s fees for this service in accordance with the Scale of Charges.

4.10 The Landlord or Owner will pay and reimburse (refund to the Agent) the Agent for all costs incurred by the Agent, howsoever arising or incurred by the Agent, in order to keep the Property compliant with the law.

4.11 If a holding deposit, as permitted by the Tenant Fees Act 2019, is held by the Agent then, in circumstances detailed in Schedule 2 of the Act, the holding deposit may be retained. These funds will firstly be used to reimburse the Agent’s costs and expenses and then any surplus will be applied to lost rent.

4.12 The tenancy deposit will be processed in accordance with the requirements of the deposit protection legislation.

4.12.1 The Agent will choose a suitable scheme and comply with the initial requirements of that scheme.

4.12.2 If the deposit is to be held by the Agent, it will be held in the Agent’s client account until the Tenant has vacated and the move out inspection is concluded.

4.12.3 Deposit monies shall be paid out upon agreement between the Landlord or Owner and the Tenant, the decision of an adjudicator or an order of the court.

4.12.4 The Agent will try and assist in resolving any dispute in accordance with the services obtained by the Landlord or Owner.

4.12.5 During a dispute, the liability to pay for cleaning, repairs etc. will remain with the Landlord or Owner. Any award made to the Landlord or Owner post-adjudication will be paid over once received.

4.12.6 If the Agent holds a deposit under an insured scheme, the Agent will have to pay the deposit into the scheme once a formal dispute is raised.

4.12.7 If the deposit is not required to be protected by legislation, the Agent will retain the deposit during negotiations on the refund, pending agreement or a court order.

4.12.8 For avoidance of doubt, the Agent will hold the deposit as stakeholder and will be entitled to retain any interest earned on the deposit.

4.13 The Landlord or Owner will repay any overpaid rent paid, as required by law, following the expiry of a tenancy and upon vacant possession being returned by the tenant.

4.14 The Agent may take any money owed to it by the Landlord or Owner from any money they hold for or on behalf of the Landlord or Owner for any of their properties.

4.15 If the Landlord or Owner requests a refund for any service, a refund will only be provided if the service has not yet commenced.

5. Notices

5.1 If the Landlord or Owner wishes to cancel this agreement before a tenancy has commenced, the Landlord or Owner may do so by writing to the Agent at the Agent’s email address or registered office address.

5.1.1 If the Agent has committed expenditure or undertaken work, the Landlord or Owner agrees to reimburse the Agent with those costs and expenses. If a Tenant who is ready, willing and able to enter into a tenancy, is introduced during the Agent’s period of instruction, or as a result of their marketing activity, where the Tenant is introduced through the Agent, the minimum fee that would be payable will be the fee for the Service, plus other expenses incurred, such as the gas safety check, etc.

5.2 Please note that the Agent will not be able to transfer the deposit without the written agreement of the Landlord or Owner and the Tenant.

5.2.1 If the Agent wishes to end this agreement at any stage, the Agent will write to the Landlord or Owner giving a minimum of one month’s notice to allow the Landlord or Owner to appoint another agent.

5.2.2 Notice can be posted first class, recorded delivery, or sent electronically to the Agent’s office for notices to the Agent or the last known address of the Landlord or Owner for notices to the Landlord or Owner.

6. Various

6.1 Any variation to this agreement must be agreed in writing between the parties. At least one month’s notification will be provided.

6.2 The Contracts (Rights of Third Parties) Act 1999 will not apply to this agreement.

6.3 This agreement will form the basis for the Agent managing any other properties for the Landlord or Owner at whichever level of services the Landlord or Owner chooses for each property.

6.4 This agreement will continue until ended in accordance with clause 5.

7. Data Protection

7.1 The Agent is a data controller and is required to pay a fee to the Information Commissioner's Office (ICO) and the details will be placed on the register.

7.2 The Agent will process the Landlord or Owner’s personal data in accordance with the Privacy Notice provided by the Agent on their website.

7.3 The Landlord or Owner will also be a controller in respect of the Tenant’s and other personal data and should pay the data protection fee, have a current registration with the ICO and process all data in accordance with the UK General Data Protection Regulations. The Landlord or Owner is responsible for paying the data protection fee and ensuring that they hold a registration with the ICO. The Landlord or Owner will be liable for any penalties for non-compliance with the Landlord or Owner’s responsibilities.

8. Business Safeguards

8.1 Letting Agents are required to be a member of a redress scheme. We belong to the Property Redress Scheme, and their website address is https://www.propertyredress.co.uk/. Further contact information can be found on their website.

8.2 Before a complaint can be escalated to the redress scheme, clients are initially required to go through our complaint’s procedure, a copy of which is available upon request.

8.3 Letting agents are required to have Client Money Protection. Our provider is UKALA and their website is https://www.ukala.org.uk/. Further contact information can be found on their website. A copy of our Client Money Protection Certificate is available upon request and is on our website.

8.4 A requirement of the Client Money Protection provider is to hold and maintain professional indemnity insurance. Details of our insurance are available on our website and upon request.

SCALE OF CHARGES

Currently there is no VAT on any of our services. When VAT becomes payable it will be at the prevailing rate (currently 20%) on all our fees. In accordance with consumer legislation, it will be quoted as included in the prices stated below. If the VAT rate changes, the price charged will change accordingly.

All services provided by the Agent are provided under its Pay-As-You-Let™ model and are publicly advertised on our website. Bespoke quotes and other services are generally out of the scope of regular lettings and property management services and are quoted on a case-by-case basis.

Additional Charges

Attendance in court £250.00

Written statement £30

Tribunal case paperwork £50

Tribunal attendance fee £250

TENANT SCALE OF CHARGES

Payments permitted under the Tenant Fees Act 2019 by Tenants or under a relevant Housing Act 1988 tenancy.

Rent

Payable monthly in advance (unless agreed otherwise).

Default fee for late payment of rent

Rental payments overdue by more than 14 days will be subject to interest at an annual percentage rate of 3 % over the Bank of England Base Rate calculated from the date the payment was due up until the date payment is received.

Deposit

Payable before the start of the tenancy and held under a government-approved scheme for the duration of the agreement. It will be repaid in full provided all obligations have been fulfilled. The deposit will be subject to a maximum of five weeks’ rent for an annual rent of up to £50,000 and a maximum of six weeks’ rent for an annual rent over £50,000.

Holding deposit

Equivalent to one week’s rent (as statutorily prescribed). This will be withheld if the Tenant does not have the right to rent, or any relevant person (including any guarantor(s)) withdraws from the tenancy, provides materially significant false or misleading information, or fails to sign their contract ~ (and/or guarantor agreement) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Default payments

If the Tenant breaches any of the requirements of the agreement, the Tenant may be liable to pay the Landlord or Owner for any losses incurred as a result of: a failure by the Tenant to make a payment by the due date to the Landlord or Owner or, a breach by the Tenant of a term of the contract, both subject to any statutorily prescribed limits.
The losses the Landlord or Owner may claim may include, damages, costs, charges and expenses incurred as a result of the breach that the Landlord or Owner was unable to mitigate to put the Landlord or Owner back in the same position as had the Tenant not breached the agreement.

Early termination

Without granting a right to do so, should the Tenant wish to leave their contract earlier than a valid notice served by the Tenant would allow and the Landlord or Owner agrees, they will be liable to pay the Landlord or Owner’s losses and the Agent’s reasonable costs in re-letting the Property, as well as all rent due under the tenancy until the start date of the replacement tenancy (capped at no more than the maximum of rent outstanding on the tenancy) or until the expiry of the Tenant’s valid notice.

Council Tax

Payable to the billing authority, if the Tenant is liable.

Utilities

Including water, sewerage, gas (or other heating fuel) and electricity including any Green Deal costs) payable in respect of the dwelling, and if required in the tenancy agreement. This may be payable to the Landlord or Owner or to the utility provider.

Television licence

Payable to the Landlord or Owner or the British Broadcasting Corporation, as required in the tenancy agreement.

Communication services

Payable to the Landlord or Owner or a provider of: internet, cable or satellite television, telephone services, other than mobile, as required in the tenancy agreement.

Loss of keys or other security device

The actual costs, as evidenced by invoice or receipt, related to a breach of contract leading to the requirement for a lock to be added or replaced or a key or other security device giving access to the Property to be replaced.

Missed appointments

Losses, as evidenced by invoice or receipt, suffered by the Landlord or Owner if the tenant fails to attend appointments agreed by the Tenant and arranged by the Agent or Landlord or Owner for contractors or others to attend or to carry out work at the Property.
Cancellations must be made at least 24 hours before the scheduled appointment. Any cancellation made within this timeframe is considered a missed appointment.

Avoidable, accidental or purposeful damage to the Property

The Tenant will be liable for any losses, as evidenced by invoice or receipt, suffered by the Landlord or Owner as a result of neglect or wilful behaviour by the Tenant or their guests resulting in damage to the Property.

Emergency/out of hours call-out fees

Any losses or additional losses suffered by the Landlord or Owner, as evidenced by invoice or receipt, as a result of the Tenant arranging an emergency, out of hours contractor call-out where the work was not an emergency or the works were required as a result of the Tenant’s actions.

Pet Insurance

Where permitted, the reasonable cost of the Landlord or Owner having insurance where the Landlord or Owner consents to keeping of a pet, or, if the Landlord or Owner agrees, the Tenant maintains a pet insurance policy.

Lords Cover Ltd is a member of a client money protection scheme; our provider is UKALA; https://www.ukala.org.uk/. Further contact information can be found on their website.

Lords Cover Ltd is a member of the Property Redress scheme; https://www.propertyredress.co.uk/. Further contact information can be found on their website.

Requirement for a Guarantor

In some circumstances we may require that the Prospective Tenant is able to offer a Guarantor. This may be because, examples of such are: the Tenant is a student; the Tenant has a poor credit history; the Tenant’s income is not sufficient to cover the rent and other outgoings.
In order for someone to qualify as a Guarantor they must: be a resident in the United Kingdom; have a clean credit history; must earn at least 36 times the monthly rent.
The Guarantor will: have to be referenced and credit checked; provide proof of ID and residence.
The extent of the Guarantor’s liability is expressed in: the Guarantor clause and sub clauses in the tenancy agreement.

As our services are provided on Pay-As-You-Let™ basis with no monthly fees there will be no refunds on services that have already commenced. Your right to cancel any service will be honoured if we have not commenced the work and a reimbursement of the service fee will be actioned within 5 working days.

By ticking the terms of business box and proceeding with payment, you confirm that you are the Landlord or Owner of the property or are authorised to act on their behalf. You confirm that the information provided is true and accurate to the best of your knowledge and belief, agree to these Terms of Business, and acknowledge that where there is more than one Landlord or Owner, each will be jointly and severally liable for all obligations under this agreement.