Legal
ANTI –MONEY LAUNDERING REGULATIONS
Good Neighbours Estates is subject to the money laundering regulations 2007. Hence, we will ask you to provide suitable identification.
The Landlord shall be responsible for the Property being adequately insured and that the insurance policy covers the situation where the Property is let. The Agent would normally be responsible for the administration of any claims arising during the period of management where the property is being managed (i.e. this only applies to properties under the full “Standard Management Service”) and subject to an additional charge for major works (see “Maintenance”).
The Landlord undertakes to reimburse the Agent for any claims arising from over payment which may be made by the local authority in respect of housing benefit, or other benefit scheme, paid to or on behalf of the tenant(s) as rent. This undertaking shall remain in force during the currency of the tenancy and up to six years thereafter, whether or not the Agent continues to be engaged to let or manage the Property under this Agreement.
Any delays of payment or other defaults will be acted on by the Agent in the first instance. Where the Agent has been unsuccessful in these initial actions, or there are significant rent arrears or breaches of the tenancy agreement, the Landlord will be advised accordingly. A solicitor would then be appointed and instructed by the Landlord (except where the Agent is unable to contact the Landlord, in which case the Agent is authorised to instruct a solicitor on the Landlord’s behalf). The Landlord is responsible for payment of all legal fees and any related costs.
Where the Landlord does not wish the Agent to undertake full management, the Agent can provide a Letting Service.
The Letting Service includes only parts 1 to 5 of the Standard Management Service as listed on page 1.
The fee for the Letting Service is 4 weeks rent. The fees are payable at the commencement of the Tenancy and will be deducted from monies received by the Agent on the Landlord’s behalf. If the tenant leaves prior to the end of the term of the Tenancy, the Landlord shall not be entitled to reimbursement of any fees paid.
Where the tenancy is renewed or extended to the same tenant (or any person associated with the tenant) originally introduced the Agent, a renewal fee of £120.00 shall be payable on the renewal date. This only applies to the first 2 renewals; subsequent renewals for the same tenant will be Free. The Agent shall prepare the tenancy agreement, if required, for the new or extended tenancy.
*I/we confirm that we have read the attached Agreement and wish the Agent to undertake the letting, rent collection and management. I/we also confirm that we are the sole/joint owners of the Property and that our mortgage provider is aware we have/are about to let the Property