Terms and Conditions for Tenants
1. A holding deposit (also interchangeably known as a reservation fee) of 1 weeks rent is payable on acceptance of your offer. This will be later used towards paying down on the outstanding balance of your moving in monies. The holding deposit will be reimbursed to you should the Landlord pull out of proceeding with the tenancy (subject to point 2 of the Terms and Conditions). The holding deposit will not be refunded to you for a change of heart, mind or circumstance your side.
2. The holding deposit will be retained if you provide false or misleading information which affects our and/or the Landlord’s decision to let the property to you. Types of examples can include your behavior in providing false or misleading information, failing ID checks, withdrawing from the proposed agreement (i.e. failing to take all reasonable steps to enter an agreement – such as responding to reasonable requests for information required to progress the agreement). This will also include suspected self-sabotage of your referencing process, and unnecessary delays in producing references.
3. A fee of £50 plus VAT (i.e. £60.00) will be chargeable should you require any changes to your tenancy agreement (within your tenancy). Examples could include: a change in the nature/schedule or type of rent payments, a change for a longer/extended tenancy term, the addition of a Tenant/listed occupant, the addition of a pet, agreeable decorations, and the addition or removal of furniture (all subject to the Landlord’s agreement).
4. If your annual rent is below £50,000, we require a deposit of five weeks rent to be paid upon signing of the tenancy agreement. If your annual rent is above £50,000, 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 mydeposits/TDSL legislation and cannot be returned until you are in agreement in writing with the landlord. Jeremy Jacob will retain any interest.
5. If you have a pet and the Landlord is potentially agreeable to you keeping a pet within a tenancy, we would encourage you to offer an increase on your deposit size to offset any concerns by the Landlord of property damages (i.e. giving you the best possible chance to rent a property with a pet).
6. We require the first instalment of rent upon signing of the tenancy agreement. For ongoing rent payments, it is your responsibility to set up a standing order to pay the rent three days before the rent is due. This is done to omit any delays in standing order rent payments (which presently do not execute on Saturday, Sunday or public holidays).
7. We will help you obtain written references for approval from your Landlord. We will require such items as: employment reference (demonstrating your salary details); if self employed: an accountancy reference (demonstrating your company’s financial state and/or salary details); a Landlord reference (verifying the rent amount that you have paid, confirmation that the rent has always been paid on time, confirmation the property was looked after, and confirmation that your existing Landlord can recommend you for future tenancies); character reference (if applicable); six months of your most recent bank statements (we seek to identify your salary entering your bank account, your existing rent leaving your bank account, to observe your bank balance behaviour over a six month period, and to ideally see your current address on your bank statements); Student enrolment confirmation at your academic institution (if applicable); property ownership proof such as a land registry document and/or mortgage statement (if applicable); Whilst we conduct our reference checking within Jeremy Jacob Letting Specialists, there may be some cases when there could be a benefit for you to seek an external credit check company’s help. This would be your cost (normally no more than £30) and we therefore encourage you to be open to such if required.
8. It will be expected that any outstanding moving-in monies are paid before or on the signing of your tenancy agreement.
9. We will need a copy of your identification in the form of a Passport and (VISA if applicable), before you take occupation of the property
10. Should rent be paid late to Jeremy Jacob you will incur charges of £50.00 plus VAT (i.e. £60.00) per arrears letter sent. We send a letter on the 5th, 12th and 19th day of the payment being late.
11. If a Tenant wishes to apply for an added occupant during the fixed term of a tenancy, they must contact Jeremy Jacob Letting Specialists and seek approval before allowing any person to occupy the property. There will be a £50 plus VAT (i.e. £60.00) per person (per name change to the Tenancy Agreement) payable to Jeremy Jacob Letting Specialists. This is subject to reference checks and Landlord approval.
12. If a Tenant wishes to end a tenancy within a fixed term (i.e. break the contract early without the means of a break clause), the Agent maybe able to help (subject to the Landlords approval). If successful, i.e. you can be released from your tenancy early, this will cost you £500 plus VAT (i.e. £600.00). We would return the property to the market and endeavor to find a new Tenant. However, you would still be liable to pay the rent up until finding the replacement Tenant. You may be able to find a replacement Tenant candidate yourself, but any candidate would still require to be approved by the Landlord and subject to referencing by us. You may also be liable for the Landlords fees paid to our agency, and therefore you should speak to us for advice with regards to how we can best help you. We recommend that this is therefore not something that you should want to do unless the circumstances are exceptional.
13. When you leave a Jeremy Jacob Letting Specialists tenancy and should you require a reference from us and/or the Landlord, you should contact Jeremy Jacob Letting Specialists. We can provide a reference at a cost of £50 plus VAT (i.e. £60.00).
14. Should you need a confirmation letter from Jeremy Jacob Letting Specialists as evidence for having a Tenancy through us, we can provide this letter at a cost of £50 plus VAT (i.e £60.00). Usually, your signed tenancy agreement between you and the Landlord suffice’s as satisfactory proof, however some organisations may need further confirmation from us on letter headed paper. For example, some banks may need confirmation letters when one is setting up a UK bank account.
15. You are not to sub-let without the Landlord’s consent. This includes Air BnB. If it is determined that any subletting and/or Air BnB activity takes place within your tenancy, we will take immediate/expediate measures to terminate your tenancy agreement.
16. Any monies paid to Jeremy Jacob Letting Specialists by cash will entail a £50.00 plus VAT (i.e. £60.00) charge per amount paid/received. This would include paying cash in our front office and/or paying cash to Jeremy Jacob Letting Specialists via your bank. We therefore encourage you to make payments to us by BACS/transfer where possible.
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. If you would like us too, at the start of your tenancy we can organise the setting up of your utilities: council tax, water rates, gas and electricity, TV License at £50 plus VAT (i.e. £60.00). If you would like us too, at the end of your tenancy we can further organise the closing of your utilities at £50 plus VAT (i.e. £60.00).
3. It is your responsibility to ensure that all of your personal items are insured.
4. If Jeremy Jacob is employed to manage your tenancy, our property management team can assist you during the tenancy. Please ask for more details.
5. We will ask the landlord to professionally clean the property before the start of the tenancy and therefore you are to return the property as you found it at the end of the tenancy. We therefore encourage you to have the property professionally cleaned and we can also advise you of professional cleaners that we believe will produce an appropriate standard of clean.
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, Tenancy Deposit Solutions Ltd (My Deposits), Safe Agent and ARLA property mark 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 Inventory check in and check out 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.
