Terms And Conditions

A. Definitions

"We," "Our," "PPS," "Employees" means Professional Property Services Limited whose registered office is situated at 29 Singleton Scarp Woodside Park London N12 7AR registration number 5488470.

"You," "the Landlord," "Landlord" means the Landlord named in the confirmation instructions form provided by the instructing Estate/Letting Agent or his/her successors in title or assigns or any person claiming through or under the Landlord.

"The Tenant," means the Tenant or Tenants of the Property including any individual or individuals or corporate entities names as Tenant on the Tenancy Agreement.

"The Property," means the Property specified in the confirmation of instructions form provided by the instructing Estate/Letting Agent but excluding all or any common areas or shared facilities.

"The Tenancy," means the entire period that the Tenant remains in occupation of the property including any agreed extensions and renewal of the original agreement.

"The Rent," means any sum taken as consideration for the rent.

"The Tenancy Agreement," means the contract between the Landlord and the tenant for the agreed period.

"The Management Service Agreement," means the agreement between the PPS and the Landlord.

B. Statutory Regulations and Obligations

This Agreement shall be governed by English Law and is deemed to have been made in England. The parties hereto agree to submit to the jurisdiction of the English Courts.

1. Money Laundering Regulations 2003

You are required to provide the Letting Agent or PPS upon request, proof of Your identity. Under the terms of the above law, PPS are required to report any suspicion of money laundering to the National Criminal Intelligence Service.

2. Data Protection Act 1998

You agree to PPS processing data, information and personal details on You as defined by the above Act.

3. Landlord and Tenant Act 1987 and Notices

The address required to serve notices must be within England and Wales. Overseas Landlords will be required to provide the address of PPS to the Tenant for the period the property is managed by PPS. PPS will endeavor to forward any such notices to the Landlord without delay but cannot be held liable for any loss or expense incurred directly or indirectly.

4. Electrical Equipment (Safety) Regulations 1994 and the Gas Safety (installation and Use) Regulations 1994 & 1996

PPS have a duty to make sure that all equipment in rented properties are checked annually by a registered installer/engineer and that the accurate records of work carried out are kept.

It is the duty of PPS to inform You of these requirements and to ensure that the documents are available for inspection.

If these records are not available PPS will carry out the work at Your expense.

You hereby warrant PPS that all equipment covered by the above Act complies with the standards required, and You agree to indemnify PPS against all liability, costs and expenses that PPS may incur by reason of any breach of these Regulations by Yourself.

5. Landlord and Tenant Act 1985

PPS have authority as Managing Agent to maintain the property and subject to Section 11 116 of the Housing Act 1988 in relation to your obligations to keep in repair the structure and exterior of the dwelling house including drains, gutters and external pipes and to keep in repair and proper working order the installations for the supply of water, gas, electricity and sanitation including basins, sinks, baths and sanitary conveniences also the installations for space heating and heating of water.

6. The Furniture & Furnishings (Fire) (Safety) Regulations 1988 and the Fire & Furnishings (Fire) (Safety) (Amendments) (Regulations 1993)

The Landlord hereby warrants that all the furniture at the property for use by the Tenant complies with the above regulations and You agree to indemnify PPS against all liability, costs and expenses that it may incur by reason of any breach of these regulations by You.

You further agree that if it comes to the notice of PPS that items of furniture in the Property contravene the above Regulations that PPS have the authority to remove those items and replace them with items that comply with the Regulations at Your cost.

C. PPS Fees and Charges

1. PPS management fees will be 5% plus VAT of the gross rental for the full term of the tenancy. The 5% will be charged monthly or quarterly or as the rent is collected. Where PPS receive the rent, the commission will be deducted from the rent and the balance will be transferred to the Landlord.
2. In the event of rent default an invoice will be sent to You separately and is payable within 14 days of a valid VAT invoice by PPS.
3. In the case where PPS are required to serve notice on Your Tenants, outside of normal terms of business, a charge of £50 plus VAT will be made for administration.
4. Interest at the rate of 5% over the base lending rate of Bank of England, (or 10% if greater) will be payable on all fees and commissions which are not paid within 14 days of the due date for payment.
5. Management between lettings - PPS standard Management Service does not apply during periods when the property is vacant. PPS can undertake to visit the property weekly and continue to pay bills on Your behalf (subject to funds being available) between tenancies, when PPS normal commission rates would not apply, for a minimum charge of £25 per week, dependent on the extent of the service required.
6. Refurbishment- PPS can undertake to arrange and supervise the re-decoration and/or refurnishing of Your property as required to maintain it in good letting condition for a fee of 10% of the total cost of items purchased and/or work and our fees will be required in advance.
7. Where PPS are requested to visit the Property where it is not covered under the Management service contract PPS will charge £60 plus VAT per visit.
8. Any insurance claim work undertaken on Your behalf will be subject to an administration charge of 10% of the claim amount plus VAT subject to a minimum charge of £100 plus VAT.
9. Any agreed attendance at court or tribunal shall be subject to a £100 plus VAT per hour charge plus all expenses.
10. Under the Electrical Equipment (Safety) Regulations 1994 and the Gas Safety (installation and Use) Regulations 1994 & 1996, we have a liability to make sure that all equipment in rented properties are checked annually by a registered installer/engineer and that the accurate records of work carried out are kept.
11. It is the duty of PPS to inform You of these requirements and to ensure that the documents are available for inspection.
12. If these records are not available PPS will carry out the work at your expense.
13. You hereby warrant PPS that all equipment covered by the above Act complies with the standards required, and you agree to indemnify us against all liability, costs and expenses that PPS may incur by reason of any breach of these Regulations by yourself.

D. Landlords Further Obligations

1. The Landlord undertakes to keep PPS fully indemnified in respect of any claim, demand, liability, cost and expense relating to the property or outgoings in respect thereof and in respect of any costs, charges or expenses incurred by PPS in relation to any claim by us under or in relation to these terms. Any sum due to us from you under the terms shall, if not paid on the due date, be subject to interest at 4% above the base rate from the due date until payment. Such interest shall accrue on a daily basis and be payable before and after judgment.
2. PPS reserve the right from time to time to make changes to the Terms and Conditions and Fees contained in the Agreement. Notice of such changes will be provided in writing.
3. All agreements on the part of either of the parties which comprise more than one person or entity, shall be joint and several, and the neuter, singular gender throughout this Agreement shall include all genders and the plural and the successors in title to the parties.
4. The Landlord hereby accepts full responsibility of:
• (i) Notifying the freeholder/lessor of the intended letting.
• (ii) Obtaining the written permission from the Head Leaseholder if required.
• (iii) Obtaining the written permission from the mortgagor to let the property.
• (iv) Notifying the Building and Contents insurers of the tenancy agreement.

E. Inventories and Check in/Check outs

1. The inventory report is a fair and accurate report which describes the property's contents, conditions and cleanliness for rental purposes only. The document is no guarantee of, or report on, the adequacy of, or safety of any such equipment of contents, merely a record that such items exist in the property as at the date of the inventory report.
2. The inventory only extends to parts of the property that are readily accessible. All other parts of the premises, for example attics, garages, basements, lofts and cupboards full of items which are not relevant to the inventory, are specifically excluded. The compiler cannot undertake to search in inaccessible places, through overcrowded drawerers or cupboards, nor will the compiler undertake to move heavy furniture or bulky items.
3. The inventory is prepared for identification purposes only and in no way constitutes a valuation or statement of authenticity.
4. Unless the inventory is carried out in daylight hours, the garden and exterior of the premises will not be inspected.
5. Towels, bed linen and other similar items will only be inspected if laundered.
6. Meter readings may only be taken if these are located and readily accessible.
7. Property left in lofts, cellars and locked rooms, which have not been inventoried are the sole responsibility of the Landlord.
8. The Fire and Safety Regulations regarding Furniture, Gas, Electrical and similar services are ultimately the responsibility of the Instructing Principal. Where the inventory notes "Fire Safety label seen" this should not be interpreted to mean that the item complies with the "Furniture and Furnishings" (Fire) (Safety) (Amendments) 1993. It is a record that the item had a label as described or similar to that detailed, in the "Guide to the Furniture and Furnishings" (Fire) (Safety) Regulations as published by Department of Trade and Industry, January 1997, (or subsequent edition), attached at the time the inventory was compiled. It is not a statement that the item can be considered to comply with the Regulations.
9. It is the responsibility of the landlord and the tenant, or the respective agent, to agree between themselves the accuracy of the inventory report.
10. PPS will on the request of the Landlord prepare an Inventory and check in and will at all times remain independent.
11. PPS will also carry out the check out report if instructed unless a conflict of interest is apparent and then it shall instruct an independent inventory clerk.

F. Property Management Services

1. PPS shall deal with day to day management matters and (where required) instruct contractors to carry out minor repairs up to a maximum of £500 inclusive of VAT for any one item. Except in an emergency, wherever practicable, estimates are obtained and submitted to You for approval in respect of work or redecoration, renewal or repairs likely to cost more than that figure. An additional fee of will be charged for this work of 10% plus VAT.
2. We will carry out non-expert investigation of defects, which come to Our notice or are clearly and adequately brought to Our attention by the Tenant.
3. PPS must be placed in sufficient funds at the commencement and, if necessary, during the period of property management, to enable us to meet all expenditure prior to the rent collection dates. It is essential that PPS hold a working balance (fund) of £500, as we cannot undertake to meet outgoings beyond the available cash held by us on your account. The working balance must be increased to £1000 if the rental is fully paid in advance, rather than monthly or quarterly.
4. You hereby grant PPS authority to carry out repairs to the property (including the replacement, maintenance, servicing or repair of any furniture, furnishings, appliances or machinery) up to the limit of £500 plus VAT without your consultation. For items over £500 PPS will contact You for further instructions.
5. PPS have will not be liable for any damage caused to the Property due to the failure of the Tenant or the delay of notifying PPS of the damage.
6. PPS do not supervise any contractors and are not liable to You for any failure or delay by a contractor or workmen.
7. PPS will not pay out any council tax unpaid by the Tenant.
8. PPS will hold a set of keys throughout the term of the instructions and in the event of loss or damage, PPS will only be liable for the cost of cutting a new set of keys.
9. PPS will receive rents and forward net rents to your bank within 10 days of PPS receiving payment from the Tenant. PPS will (where possible) collect rent by Standing Order Mandate.
10. Except where PPS are notified in writing of an intended re-occupation of the Property and where special arrangements are made, it is hereby accepted that the Landlord will give three months notice of his intention to terminate the Management by PPS.
11. PPS will not pay any interest that maybe earned on monies held in your account, including working funds and money in transit.