Leasing & Letting Flashcards
1
Q
Why are agency agreements needed
A
Reduce risk of conflict during and after the transaction
2
Q
What must agency agreements include
A
Before:
Identity checks
Conflict of interest checks
Include
Address
Fees
Expenses
Terms of business
Scope of instruction
Complaints handling procedure
3
Q
12 Core Principles
A
- Honesty
- necessary skills
- terms of engagement
- reduce conflicts
- do not discriminate
- clear communication
- honest marketing material
- Client money handling
- Indemnity insurance
- Obligations of each party
- Realistic ERV
- Inspections carried out lawfully
4
Q
Town & Country Planning Act
A
-Class 5 relates to boards
-Enforcement letter from councils specifies steps to be taken
5
Q
Heads of Terms
A
Parties
Demise
Term
L&T Act Position
Rent
Rent Free
Rent Reviews
Breaks
Offer Back
Alienation
Conditions
Parties Solicitors
