Letting Only Service

Included in this service are the following:

Fees

1.1        Initial Let fee 10% of the gross letting fee due for the entire agreed term of the licence to occupy plus VAT  – such sums to be deducted from the Holding Deposit collected.

1.2        Oxygen Property Management will advise you of offers by tenants for you to consider. Once you accept an offer either verbally or in writing you will be liable for full payment of our fees and a refund of the full letting fee.

1.3        Once you accept a letting offer put forward by us you should instruct all other agents to cease marketing the Property for that period of time.

1.4        If you agree to let the Property for any period with another agent then you must let us know in writing which period is unavailable within 48 hours of making that letting agreement, whether you have agreed verbally or in writing.

1.5        We will pay you the balance of the letting fee collected and any deposit by BACS within one week of commencement of the letting period.

1.6        The fees for all Additional Services (see below) are payable in advance of delivery and will also be deducted from the Holding Deposit. If the Holding Deposit proves insufficient then the balance will be deducted from the letting fee, or in the event of cancellation of the booking by either party, payable by yourself to us within 7 days of written demand.

Security Deposit

2.1        We will collect a 25% Security Deposit from the tenant for you prior to commencement of the licence period.

2.2        If you choose to purchase the additional services from us of both an Inventory and Check Out then we will hold the Security Deposit on your behalf; make any necessary deductions at the expiry of the licence period and return any outstanding sums to the tenant within one week of the Check Out.

2.3        If you do not purchase the Inventory and Check Out then we will transfer the security deposit to you with the letting fee collected and it will be for you to make deductions and return the security deposit to the tenant at the expiry of the licence period.

3. Additional services:

Inventory £120 plus VAT per licence period:

 The Inventory is a listing of all the contents of a property and a record of the condition of the property itself and each item within. The form is designed to help monitor the condition of the property/items before a tenant moves in and just before a tenant leaves, so it can be made clear what damages, if any, need to be paid for. An inventory can prevent a lot of disputes between tenants and landlords and is extremely useful.

Check In £86 plus VAT per licence period:

On a check in visit we will take the new tenants around the Property showing them communal facilities, such as the location of the recycling and dustbins. We can answer queries that they may have about the locality. We will hand over the keys and receive a receipt from the tenant for them. Note: This is only available where an Inventory (above) has been commissioned.

Check Out £86 plus VAT per licence period:

At the end of licence check out we meet the tenant at the Property to go through the inventory together and assess the state and condition of the property compared to the condition at the start of the licence. The tenant signs the amended inventory. This allows tenant and landlord to have a solid basis from which to agree any costs which may be incurred following licence. Note: This is only available where an Inventory (above) has been commissioned

EPC: £84 (VAT inclusive)

The statutory requirement for home energy certificates comes from EU legislation; the directive for the UK is known as 2002/91/EC. Certificates can only be issued by a qualified energy assessor or home inspector. Landlords of rented property must provide a certificate to any prospective tenant on a new letting. Once obtained a certificate remains valid for 10 years. 

Gas Safety Certificate: £130 (VAT inclusive)

If the Property has any gas appliances, heating or boiler it is a statutory requirement for you to obtain a Gas Safety Certificate annually from a CORGI registered Gas operative. We can arrange for this inspection to be undertaken on your behalf, and furnish a copy of the certificate to both you and your tenant. A certificate is valid for one year.

PAT Testing: £54 per hour plus VAT

The Health & Safety at Work Act (1974) places such an obligation for Portable Appliance Testing (PAT) where appliances are supplied or hired. This can be undertaken by a qualified PAT tester, who is usually an electrician. There is no expiry to a PAT testing certificate but best practice recommends that appliances are tested annually. The minimum call out fee is one hour.

Maintenance Service £40 (VAT inclusive) per licence period

Your tenants will be issued with a unique property identity and call out number.  This will provide a 24 hour call out service and the comfort of the knowledge that they can call a dedicated 24 hour response team to deal with the following emergencies:

·         No water

·         No Electricity

·         No Hot water

·         No heating

·         Water leaks within the apartment

·         Replacement locks

·         Temporary boarding in the event of door and widow damage

Electricians and plumbers are charged at £54.00 per hour.

Decorators, handymen and general building operatives are charged at £25.00 per hour.

In all cases there is a minimum call charge fee of 2 hours with the materials charged at cost plus 15% and any specialist plant charged at cost plus 20%. VAT is also added to the labour and materials on the final invoice.

Outside of Monday to Friday 8.00am – 17.00pm a £69.00 call out charge applies in addition to the hourly rates and materials/plant costs quoted (above).

Weekly Cleaning Service £180 plus VAT per week plus the cost of consumable items

The property will be cleaned twice per week with fresh towels and bed linen; soap and toilet tissue replenished once per week. Two sets of towels and bed linen are to be supplied by the Landlord. The cost of cleaning the bed linen and towels are included in the weekly cleaning price.

Deep Cleaning Service

A full professional deep cleaning service is available on request to service apartments at the end or between tenancies. This comprehensive clean includes deep cleaning, descaling bathrooms, deep cleaning of appliances in the kitchen (oven etc), windows, door frames, skirting boards etc.

Fees:    1 Bedroom flat = £194 incl. VAT;

2 Bedroom flat = £264 incl. VAT ;

3 Bedroom  flat = £311 incl. VAT

Car Parking: FREE

If you do not have a car parking space to offer your tenant but they would like parking then subject to availability we will provide them with a space for one private car or motorcycle free of charge. A refundable deposit will be required from the tenant for parking fobs/permits.

If you would like to take out any of these service or require further information please contact our sales and letting team on 020 7055 8000 or e-mail customercare@oxygen.co.uk.

YOUR OBLIGATIONS AS LANDLORD

COMPLIANCE WITH LEGISLATION

4.1        The responsibility for compliance of the following Regulations and any amendment of the same is and remains the personal obligation of you, as Landlord.

4.2        Before allowing a Tenant occupation of the Property, we must be in receipt of your confirmation of compliance with the following Regulations: a) The Fire and Furnishings (Fire) (Safety) Regulations 1988 (Amended 1993) b) The Gas Safety (Installation & Use) Regulations 1994 (Amended 1998) c) The Building Regulations 1991 (in particular the installation of smoke detectors) d) The Electrical Equipment (safety) Regulations 1994 and e) Part P of the Building Regulations.

4.3        You agree to indemnify Oxygen Property Management against any claim made against OPM by the Tenant or any other party for any breach of this Agreement including the above and for any delay in the occupation of the Property by the Tenant, brought about by non compliance with the above.

THE FINANCE ACT 1995 (OVERSEAS LANDLORDS)

5.1        You are responsible for notifying Her Majesty’s Revenue & Customs (HMRC) about the Licence if you are an Overseas Landlord.

5.2        Where a Landlord is a non-resident for tax purposes, tax remains payable on the rent arising in the United Kingdom.

5.3        We are liable to account to HMRC for income tax thereon at the basic rate on any rent we receive on the aforementioned basis. However, You can apply for an exemption certificate to be issued to Oxygen Property Management permitting rent to be paid to You without deduction of tax.

5.4        Until an exemption certificate is received by Oxygen Property Management we are legally obliged to withhold tax from the gross rental income.

5.5        The sums withheld will be paid into a tax holding account where interest may accrue, with such accruals to be kept by Oxygen Property Management.

5.6        If you are not accepted for the Non Resident Landlord Scheme and we have to make tax payments to HMRC we will charge you £50 +VAT per licence for administration costs, such cost to be deducted from the letting fee.

EXCLUSION OF LIABILITY AND INDEMNITY

6.1        In the event that you give us instructions which we follow in good faith and which instructions turn out to be unlawful or result in an unlawful act or otherwise give rise to any kind of claim or action being made against us you will provide us with a full indemnity for all penalties, damages, costs, expenses and losses whatsoever which we may incur as the result of following those instructions.

6.2        You also specifically undertake to provide us with a full indemnity on the same basis as above in respect of any claim or action brought against us, whether alone or jointly with you arising from our obligations to you in relation to the Property whether that claim or action is brought by the Tenant or any third party.

DATA PROTECTION & SECTION 19 TAXES MANAGEMENT ACT 1970

7.1        You hereby consent to Oxygen Property Management processing data, any information and personal details on or on behalf of you as defined in the Data Protection Act 1998.

7.2        In particular HMRC have powers under the above Act to request information from Oxygen Property Management about properties we let on your behalf.

7.3        Should we receive such a request, you unconditionally allow us to assist HMRC and fulfil our statutory obligation.

JURISDICTION & NOTICES

8.1        This agreement shall be governed by English Law and shall be deemed to have been made in England. Any proceedings arising out of or in connection with this agreement may be brought in any Court of competent jurisdiction in England and whose Courts shall have exclusive jurisdiction.

8.2        Notices sent to either party shall be validly served if sent by first class or registered post to the address on page 1 of this agreement, or if left at that address. Notices sent by post will be deemed to be received the day after posting. Notices which are left at an address are deemed served the day they are delivered.

PERMISSION TO LET

9.        You must seek written approval to let the Property from your Mortgagee (if any), Freeholders (if any) and Insurers prior to the letting of the Property. In the event that your Mortgagee refuses permission at a later stage, you will still be liable for any charges incurred under this agreement.

TENANT SUITABILITY

10.        When agreement in principle is reached on a letting with a prospective Tenant, we will take photographic ID and a copy of a recent utility bill or similar proof of address from them and we can for a report from a credit-referencing agency for you to review (if requested by you and at an additional fee payable by you) but you must ultimately satisfy yourself as to the suitability of the prospective Tenant.

HOLDING DEPOSIT & BOOKING CANCELATION

11.1      We will request from your prospective Tenant a Holding Deposit of 25% of the letting fee to secure their booking.

11.2      In the event that the booking is cancelled by the tenant the Holding Deposit is non-refundable to them.

11.3      Once the Holding Deposit is paid by the Tenant you shall within 24 hours (a) sign the licence to occupy and (b) cease all marketing for the Property for that period of time.

11.4      If we do not receive a signed Licence to Occupy from you within 24 hours of notifying you that we have received a Holding Deposit then we will cancel the booking and return the Holding Deposit in full to the Tenant.

11.5      You as Landlord must not cancel the booking without giving at least 3 full week’s notice to the tenant. If however you do cancel a confirmed booking you are liable to refund the Holding Deposit in full and any/all Letting Fee already paid directly to the Tenant by direct credit transfer within 48 hours of the cancellation. The refund must be made by yourself and not via OPM.

11.6      If the Tenant cancels the booking once the full letting fee has been paid then you will refund them a percentage of the letting fee on the following sliding scale depending on the number of weeks notice given before check in:

KEYS

12.1      We must have a full set of keys enabling us to market the Property on your behalf.

12.2      All keys are internally security coded and cannot be identified. Therefore if keys are lost or misplaced by us we can only be held liable for the cost of a replacement set.

12.3      A company representative will accompany all viewings.

12.4      The property will be left as secure as the keys supplied allow.

12.5      We cannot accept responsibility for lost or unaccounted keys. Where we have to have extra keys cut, a charge of £5 plus VAT in addition to the cost of the keys will be made and charged to your Account.

12.6      Should you require the return of your keys, they may be collected by you from our office. Any unclaimed keys will be disposed of by Oxygen Property Management one month after we cease to act for you.

UTILITIES

13.1      It is your responsibility to ensure that the electric, gas, hot and cold water supplies, telephone and broadband supplies are to be left on at the Property and any cards, keys etc needed to charge them are made available so that the necessary safety checks can be executed.

13.2      Should we be instructed by you to carry out the necessary safety checks on your behalf and find that the above supplies are not available, you will be charged an abortive call out fee by the contractor. Such fees to be paid to the contractor from the letting fees collected on your behalf.

13.3      You further indemnify Oxygen Property Management against any claim made by the Tenant for delay in the occupation of the Property by the Tenant brought about by the absence of the aforementioned supplies or for any other reason.

13.4      You must ensure that the property benefits from buildings and contents insurance at all times in the full reinstatement value of the property, and loss of rent cover is highly recommended. You must provide us with a copy of the insurance policy and certificate upon request.

13.5      You must ensure that the property benefits from a current TV licence, and pays the council tax for the property during the letting period.

13.6      As Landlord it is for you to pay any ground rent and service charge at the Property.

13.7      Please note that redirection of your mail from the Property is not included in your service. Please set up a redirection mandate with the Post Office.

13.8      If you do not opt to take out the Additional Service of our cleaning please confirm whether you will be cleaning the Property yourself or employing a specialist cleaning agency as the Licence to Occupy requires that the Property is cleaned twice per week including a complete change of bed linen and towels and consumable items.

EXCLUSIONS

14.1      We are not in any way liable for loss or damage caused by tenants their friends relatives or other visitors

14.2      We do not provide legal advice or assistance and in the event of breach of the licence agreement by the tenant or their failure to vacate or time or any other circumstance you should seek independent legal advice

ALLOWING ACCESS TO TENANT

15.1      We must be in receipt of all of the following before we can allow access to a Tenant:

(a)        A signed copy of this Agreement from you;

(b)        A full set of keys or at least two sets (one for us and one for the tenant) if you are taking out any of the Additional Services. This must include entry fobs, mailbox keys, car parking fobs etc;

(c)        A copy of the licence document signed by both yourself and the tenant.

15.2      We cannot be held responsible for any losses incurred due to your failure to comply with the above stipulations.

AUTHORITY TO OXYGEN PROPERTY MANAGEMENT

16.        You hereby authorise Oxygen Property Management to grant occupation to a Tenant on or after the date confirmed in this agreement by you as the date on which the Property will be available for occupation.

COMPLAINTS

17.        If you have any complaints about our service to you please contact us in writing as soon as you have an issue and we will endeavour to meet with you to discuss and resolve your problem quickly and reasonably.

TERMINATION

18.        If either party wishes to terminate this agreement then either party may do so by giving the other party not less than one week’s notice in writing.

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