Seldons
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If you are reading this page and you are a Landlord then we appreciate that you will have a number of matters influencing your decision to instruct a Letting Agent and some of the questions in your head maybe….

What rent will I achieve?
We have an established Letting Department who have been letting property in the area for decades and we know our market, so can give you the best advice on the rent you will achieve and advice on what you may need to provide or do to your property to achieve this. Our appraisal is FREE and we can chat over our services and what we can do for you at the same time.

How quickly will you let my property and how can I avoid void periods?
We hold an up to date database of prospective Tenants so we have people we can go to immediately we are instructed. Your property will be seen in our Prime Quay side offices, advertised on Rightmove and Seldons.co.uk, regularly advertising in the North Devon Gazette and North Devon Journal. But we always try to get it Let before its been on the market too long.  We understand void periods dent your yield and we work proactively therefore to achieve a letting as quick as possible to the best quality Tenant(s)

What quality of Tenant(s) will I get from you?
We reference through an external referencing company who provide credit checks locating bad credit history and County Court Judgements, employment and previous Landlord checks to ensure as much information is obtained and verified to reduce any risk factors on prospective Tenant(s). We will agree with you the type of Tenant(s) you will accept and whether you will accept pets etc.

What is it going to cost me?
Initially this may be your first thought, but if you look at the big picture it isn’t just about the charges but the effectiveness of the service provided by a Letting Agent that will affect your yield and what goes into your pocket. So the cheapest fee won’t always cost you the less in the long run. So you need to balance your decision to ensure you make the right decision.

We don’t charge a Set Up Fee like most of our competitors, so we will have saved you possibly several hundred pounds already
I’ve heard some nightmares….what can you do to protect me.

If you are using us on a Full Management basis we can organise rent protection and legal expenses insurance to provide you with cover in rent arrears situations and also cover the costs of regaining possession for Tenants who proceed through our referencing process.
We hold a deposit from the Tenant and things as regular inspections and monitoring of the rental account take place to reduce issues together with quick response to any issues.

Our Lettings and Property Management Services

We offer Full Management and a Tenant Find Service

LETTING AGENCY TERMS OF BUSINESS 

Our Commitment To You.

All lettings will be by way of an Assured Shorthold Tenancy for an initial minimum period of six months.

Our commitment is to offer to all our clients a professional, efficient and personal service.  In particular we will provide the following:-

  • A full marketing and advertising service including your property being advertised on Rightmove.
  • A full range of Letting Agency services including valuation of your present property, as set out in our attached schedule of services.

All with the object of obtaining a Tenant for your property at the best possible rental.

Our hours of business

The normal hours of opening are between 9.00 am and 5.30 pm on weekdays and on Saturdays between 9.00 am and 4.00 pm.  Outside those hours appointments and viewings can be arranged.

Our agency team

Our agency team are here to help you and look after your Tenancy.  Please feel free to contact any of them at any time for assistance, advice or to answer any queries. 

Our charges and expenses

A).       Fully Managed

(i)         We will charge you an arrangement fee of £NIL plus VAT for arranging the Tenancy which includes finding a Tenant, any advertising and the arrangement of credit checks, references, right to rent and money laundering checks on prospective Tenants. Subject to the following additional charges (service of legal notices are not included and are subject to an additional charge):

Preparation of Assured Shorthold Tenancy:                          £50.00 plus VAT

Ingoing Inspection Report with photographic record:           £50.00 plus VAT

Registration of Deposit:                                                          £40.00 plus VAT

Inventory of Contents and Fittings (optional):                       £50.00 plus VAT per hour

(ii)        An on-going management fee of 10% plus VAT on the appropriate monthly rent received deducted direct from the rent on a monthly basis.

(iii)       Rent Protection & Legal Expenses cover- subject to an additional one off payment that will vary.

             The cover provided in brief provides the following benefits:

  • 12 months cover with nil excess whilst you retain Seldons Estate Agents using our Full Management Service.  The policy is taken in Seldons Estate Agents name and is not transferable.  Extension of this cover will be subject to future charges and may vary.
  • Only one policy is required regardless of the number of Tenants who are party to the Assured Shorthold Tenancy (providing the Tenant(s) or Guarantors (where applicable) have passed a credit check or full reference through Rent4Sure and no other claim has been made on the policy)
  • Continued payment of Rent- the Monthly Rent will continue to be paid under the Policy until vacant possession is obtained at the amount set as the passing rent under the Tenancy.  Cover is provided up to a maximum of £2 500 per month, with a maximum of £10 000 in any one claim.  Legal expenses cover is up to £100 000 to gain vacant possession for service of notices and regaining possession.
  • Any rental payments claimed under the policy will be paid to the Landlord once received from the Insurers, subject to any administrative delays.  Any future payments received from the Tenants, in the way of rent, will have to be set against any payments received from the Insurers, for example the payment of rent arrears from the deposit. 
  • This cover is an Insurance Policy and is therefore subject to the Insurers conditions and exclusions.

B).        Tenant Find Service Only

(i)         We will charge you an arrangement fee equivalent of Half a Month’s Rent (subject to a minimum fee of £300.00 plus VAT) for arranging the Tenancy which includes finding a Tenant, any advertising and the arrangement of credit checks, references, right to rent and money laundering checks on prospective Tenants. Subject to the following additional charges (service of legal notices not are not included and are subject to an additional charge):

Preparation of Assured Shorthold Tenancy:              £50.00 plus VAT

Schedule of Condition with photographic record:     £50.00 plus VAT

Registration of Deposit:                                              £40.00 plus VAT

Inventory of Contents and Fittings (optional):           £50.00 plus VAT per hour

C).        Tenancy Deposit Regulations

The law requires you to enter into a registration scheme in relation to any Tenancy deposit.  We are members of an approved scheme and as part of our role will organise registration of your Tenancy deposit.  Whether we are providing a let only or fully managed service, we will retain the Tenant’s deposit until the end of the term as security against damage and breakages.  There is a scheme fee of £40.00 plus VAT payable for each Tenancy deposit under the Regulations, which we will charge you as an additional fee to be deducted from the first month’s rent.

D).       Terms of Payment

(i)         Payment is immediately due on invoice and you will agree we are entitled to deduct payment of our charges and any expenses incurred for you in managing your property direct from rental payments received before accounting to you for the same.

(ii)        In the event of insufficient funds held by us being available for payment any invoice is due for payment within twenty eight days.  Interest will be charged on a daily base at 8.5% from the expiry of the twenty eight day period from the delivery of the bill by us to you until actual payment as provided in the Late Payment of Commercial Debts (Interest) Act 1998.

Sub Agents

We will not instruct any sub agents to rent your property without your agreement.

Legal requirements

  • Under the Town and Country Planning Act you are permitted to have only one agents board at your property, whether your property is for rental or sale.  Where our board is erected we cannot acknowledge any private introduction and would ask all negotiations be conducted through Seldons. 

  • Under the Estate Agents Act 1979 we are required to ensure there is no conflict of interest.  This includes ascertaining if clients are related to or have associates who work for us.  If this is the case please notify us immediately. 

    Termination

    Our agency agreement will continue until terminated by either party giving to the other party 1 months notice in writing. 

    Money Laundering

    Following the introduction of the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007 we are now obliged to request evidence of your identity and undertake certain other procedures to establish your credentials and the legitimacy of your instructions before acting upon them.  This procedure may require us to take fuller instructions from you than previously, and may, in rare cases, introduce some small delays in to your matter.  We will, of course, strive to keep these delays to a minimum. 

    We may also have a legal obligation to report to the National Crime Agency (NCA) any information which comes to our attention concerning any matters covered by the new Law.  If we make a report to NCA we may not be allowed to tell you or anyone else that we have done so.  We may be ordered by NCA to stop the work you have instructed us to do.  In that case we will not be able to tell you or anyone else why we have stopped work.  If we have to stop work we incur no liability to you in respect of any loss or damage to you that might be caused in consequence.  By agreeing these terms of business you agree to accept that.  In the light of the new Law we do not accept payment in cash of more than £1000. 

    Client Care

    Our aim is to offer all our clients a professional, efficient and personal service at all times.  If you have any problems with the service we have provided for you then please let us know.  We will try to resolve any problem quickly and operate an internal complaints handling system to help us to resolve the problems between ourselves.  If you are dissatisfied, please ask for a copy of our complaints handling procedure which is available on request. 

    We are members of an approved redress scheme for estate agents under the Consumers Estate Agents and Redress Act 2007 through the Property Ombudsman.  Details of how you contact them are available with a copy of our complaints handling procedure. 

    Limiting Our Liability

    We will only be liable to you for any loss or damages as a result of work we have agreed to carry out for you under this agreement if that loss is caused by our negligence, or breach of contract, or misrepresentation.  Under no circumstances are the directors or employees of Seldons personally liable for any loss arising from our contract with you.

    We will not pay more than £2 Million in relation to any or all claims arising out of any particular matter for you in connection with our contract with you. 

    We will not be liable for any losses that arise from our relying on information or documents supplied by you or on your behalf that are misleading, incomplete, or incorrect.

    Communication between you and us

    We will aim to communicate with you by such a method as you may request.  We may need to virus check discs or email.  Unless you withdraw consent, we will communicate with others where appropriate by email but we cannot be responsible for the security of correspondence and documents sent by email.

    The Data Protection Act requires us to advise you that your particulars are held on our database.  We may, from time to time, use these details to send you information which we think might be of interest to you.

    Managed Properties Your Obligations and Responsibilities

  1. Repairs/Property Maintenance. You authorise us to arrange for any works/repairs that we consider are of an urgent nature being works that are the responsibility of the Landlord.   

    You agree that payment of those invoices can be made by deduction from rental monies held and in the event there are insufficient rental monies you will make payment of the same within twenty eight days. Where practical we will seek from you prior authorisation for such works.   

  2. It is your responsibility to ensure that the property is put in to a proper state and repair at the commencement of any Tenancy.  We will advise you what is required and if requested will organise it for you.  We will require funds from you in advance to cover the costs of the same.

  3. We will organise for you an annual gas and if required electrical safety certificate.  As with other repairs we reserve the right to deduct that from your rental payments received before accounting to you. 

  4. Insurance.  You are responsible for ensuring there is insurance cover in force in respect of the building and contents if applicable.  It is your responsibility to make the insurer aware that the property is being let.  It is your responsibility to notify your insurers of the date of occupancy and if required, by your policy, to notify them if the Tenant is claiming housing benefit. 

    Non Resident Landlords 

    If you are a resident outside the United Kingdom in accordance with the Finance Act 1995 income tax will be deducted from rental payments received before payment is made to you.  This can only be avoided by you obtaining a valid exemption certificate from the Inland Revenue.  Our Non Resident Landlord Scheme registration number is NA8283.  Please ask if you require more information. 

    Mortgaged Properties

    By signing these terms and conditions of business you confirm that you have prior permission from your mortgage company to let your property and you agree to produce to us upon request a copy of the confirmation of that permission.   

    Bank Details

    It is our practice to pay rental monies received to you by BACS.  Please therefore provide us with your appropriate bank details as to which account you would want rental monies paid into. 

    Energy Performance Certificate

    It is a requirement for any property let that there is in existence an Energy Performance Certificate.  We will organise this for you if one is required, but we require you to be responsible for payment of the same.  The current cost is £55.00 and your cheque should be made payable to the Energy Assessor and we will confirm their name to you.  If you already have a valid current Energy Performance Certificate at the time of instructing us please let us have it immediately to avoid any possible duplication.