Terms and Conditions

Terms and conditions for Tenants

1. An administration fee of £295 plus VAT (i.e. £354.00 inc VAT) is payable upon acceptance of your offer.

2. A renewal fee of £150.00 plus VAT (i.e. £180 inc VAT) is payable if you extend your tenancy over the initial period.

3. We require a deposit of six weeks rent to be paid upon signing of the tenancy agreement. This will be held in line with current TDSL legislation and cannot be returned until you are in agreement in writing with the landlord. Jeremy Jacob will retain any interest.

4. We require the first installment of rent upon signing of the tenancy agreement. It is your responsibility to ideally set up a standing order or arrange a BACS Transfer process that enables the rent to be always paid on time.

5. We will help you obtain written references for approval from your landlord. Jeremy Jacob will seek references to show rent affordability. We will ask for your employment details and your landlord history.

6. We will need a copy of your identification in the form of a Passport or UK driver’s license before you take occupation of the property

7. Should rent be paid late to Jeremy Jacob you will incur charges of £50.00 plus VAT (i.e. £60.00 inc VAT) per arrears letter sent. We send a letter on the 5th, 12th and 19th day of the payment being late.

8. If a Tenant wishes to complete a change of occupancy during the fixed term of a tenancy, they must contact Jeremy Jacob Letting Specialists and seek approval before allowing any person/persons to occupy the property. There will be an exit administration fee of £295 plus VAT (i.e. £354.00 inc VAT) payable to Jeremy Jacob Letting Specialists by the exiting Tenant.



General terms and conditions for Tenants

1. Unless otherwise agreed, you are responsible for paying the utility bills, council tax and television license on a long let tenancy.

2. It is your responsibility to ensure that all of your personal items are insured.

3. If Jeremy Jacob is employed to manage your tenancy, our property management team can assist you during the tenancy. Please ask for more details.

4. If the landlord pays for a check in report, it is your responsibility to pay for the check-out report

5. We will ask the landlord to professionally clean the property before the start of the tenancy and therefore you are required to professionally clean the property at the end of the tenancy (in time for your check out).

6. Jeremy Jacob Letting Specialists are a member of: The Association of Residential Lettings Agents (ARLA), The National Approved Letting Scheme (NALS), The Property Ombudsman, The London Rental Scheme, Tenancy Deposit Solutions Ltd (My Deposits) and The National Federation of Property Professionals (NFOPP) Client Money Protection. We therefore have a complaints procedure in accordance with the named schemes. Full details are available on request.

  

 

 

Terms and Conditions for Landlords

 

Rent Collection Service
If we are instructed to “Let Only & Rent Collection” you will pay Jeremy Jacob a fee percentage being 10% plus VAT (i.e. 12% inc VAT) (collected from received rent in total in advance) of the gross Rent, premium or other money payable throughout the initial fixed Term and instead 9% plus VAT (10.8% inc VAT) (collected from received rent in total in advance) for any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. If our instructions to collect the rent or other monies are terminated our fee remains payable at the Let Only fee percentage throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf.

 

Management Service
If we are instructed to manage the Premises then further to our fee for the Let Only & Rent Collection Service you will pay us an additional fee at the Full Management fee percentage for management being 6% plus VAT (i.e. 7.2% inc VAT) (collected from rent in advance on a monthly basis), plus the Commission due for the Letting and Rent Collection Service being a total of 16% plus VAT (i.e. 19.2% inc VAT) of the gross Rent premium or other money payable throughout the initial fixed Term and instead 15% plus VAT (i.e 18% inc VAT) for any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. If our instructions to manage are terminated our Commission remains payable at the Let Only Commission Percentage throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. Should opted, Full Management Commission (6% plus VAT) is continued to be collected from the rent in advance on a monthly basis.

 

Renewal
The Landlord should be aware that renewal or continuation as a periodic Tenancy is subject to an additional Fee 9% plus VAT (i.e. 10.8% inc VAT) of any such Long Let term whether or not we as your Agent negotiate on your behalf. A renewal or extension of a Short Let is still subject to an additional Fee of 25% plus VAT (i.e 30% inc VAT) of any such term whether or not we as the your Agent negotiate on your behalf. Our full management service remains at 6% plus VAT (i.e. 7.2% inc VAT) throughout and is always collected in advance on a monthly basis.

 

Additional Services
The following Services are in addition to the above and form the subject of an additional charge.
a. Preparation of an Inventory and Schedule of Condition on behalf of the Landlord by an inventory clerk will depend on the size and style of the Premises. Estimates will be given upon request. The cost of the preparation of the Inventory is borne by the Landlord.
b. Our Estate Agency administration fee (Preparation of Tenancy Agreement and conducting of reference checks) for a tenancy term is £295 plus VAT (i.e. £354.00 inc VAT) and £150 plus VAT (i.e. £180 inc VAT) for a Memorandum of Agreement prepared for extending a Tenancy including a Rent review.
c. Service of Notices to terminate a Tenancy when we are not managing the Premises will be subject to an administration fee of £200 plus VAT (i.e. £240.00 inc VAT).
d. Full management of a vacant property at 6% plus VAT (i.e. 7.2% inc VAT) paid on a monthly basis (based on a current market rent appraisal figure).
e. Organising of any EPC, PAT Test, Gas Safety Certificate or professional cleaning services on behalf of the Landlord by Jeremy Jacob approved contractors. Pricing will be given on request.
f. If we are obliged to deduct Tax we shall charge £250 plus VAT (i.e. £300 inc VAT) for submitting each yearly return to HMRC and preparing an annual return and certificate. This cost will vary if one is self-employed.