Property Management Flashcards
What is in a terms of engagement
- CLIENT AND PROPERTY
- LETTING AGENCY AGREEMENT
- CONFLICT OF INTEREST
- IDENTITY CHECKS –
• Form of photographic identification
• Proof of address
• Proof of ownership
• Landlord Registration Number - Communication
- Fee and payment
- Expenses
- Duration & Termination
- Withdrawal
- Changes to agreement
- Method of payment
- VAT
- Professional indemnity insurance
- Client Money
- Occupiers liability
- Unoccupied property
- Letting agent code of practice (Scotland) Regulations 2016
- Complaints handling
- Acceptance of terms
What are Private residential tenancy’s gove by
The Private Housing (tenancies (Scotland) Act 2016
When did Private residential tenancy come into force
The came into force on 1st December 2017
Tenancy deposits gove by
The Tenancy Deposit Schemes (Scotland) Regulations 2011
Tell be about tenancy deposits
Landlords have to register your tenancy deposit within 30 working days of the tenancy starting
A deposit is a sum of money which acts as a guarantee against:
• damage you, as a tenant, may do to the property
• cleaning bills if you have left the property in poor condition
• bills that are left unpaid, for example fuel or telephone bills
• any unpaid rent.
A deposit cannot be used to replace items that are damaged, or worn, due to normal wear and tear
must inform the tenant where the deposit is lodged and certificate
Dispute
The dispute will be referred to an independent adjudicator, who will be handed any evidence that has been submitted
max rent that can be taken 2 months
PRT rent reviews
cannot be increased more than once in any twelve-month period
(Open market value)
Landlord must give the Tenant at least three months’ notice before any increase can take place
Landlord must give the Tenant a Rent-increase notice
Within 21 days of receiving a Rent-increase notice, the Tenant can refer the increase to a Rent officer for adjudication if he or she considers that the rent increase amount is unreasonable,
Short assured tenancy what is it gove by
The Housing (Scotland) 1988
- your tenancy started after 2 January 1989
- you received a special notice (an AT5 form) before the tenancy started telling you that it is a short assured tenancy, and
how to Carrie out a rent review for a short assured tenancy
Just a letter 1 month in advance for the tenant to sign and send back
(open market value)
Short assure tenancy termination
letter of notice to quit
lat least two month notice in writing that they want the property back (section 33 notice)
Landlords sometimes combine a notice to quit and a section 33 notice into one notice, this is OK as long as it:
•gives you at least two months’ notice
•states that the landlord requires possession of the property
•states that once the notice has run out, the landlord still has to get an order from the tribunal before you have to leave
•include information about where you can get advice.
tenant
PRT termination for tenant
tenant 28 day’s
landlord - 28 days ( first 6 months) - 84 day’s
What is an AT5 form
AT5 is the special notice that your landlord must give you if they want your tenancy to be short assured rather than assured. You must be given an AT5 before you move into the property or it will not be a short assured tenancy
what do you have on a set of letting particulars
Land lord reg number letting agent reg number EPC property address council tax deposit rent services accommodation description
Repairing standards goved by
Housing (Scotland) Act 2006 -
legal and contractual obligations of private landlords to ensure that a property meets a minimum physical standard
Repairing standards what are they
- the property must be wind and water tight and in all other respects reasonably fit for people to live in.
- the structure and exterior (including drains, gutters and external pipes) must be in a reasonable state of repair and in proper working order.
- installations for supplying water, gas and electricity and for sanitation, space heating and heating water must be in a reasonable state of repair and in proper working order.
- any fixtures, fittings and appliances that the landlord provides under the tenancy must be in a reasonable state of repair and in proper working order.
- any furnishings that the landlord provides under the tenancy must be capable of being used safely for the purpose for which they are designed.
- the property must have a satisfactory way of detecting fires and for giving warning in the event of a fire or suspected fire.
- the property must have satisfactory provision for giving warning if carbon monoxide is present in a concentration that is hazardous to health.
- the property must meet the statutory
Please note that a tenancies of less than 31 days for the purpose of a holiday will not be subject to the repairing standard
Energy Performance Certificate
last for 10 years
The Energy Efficiency (Private Rented Property) (Scotland) Regulations 2019
- New rented EPC of E from 1st October 2020
- All rental properties must have an EPC rating of E by 31 March 2022
- EPC of D at change of tenancy from 1 April 2022
- All rental properties must have an EPC rating of D by 31 March 2025
Government have Post-boned until a latter date
Boil checks/ gas safety
Annual check – 10 – 12 months
Electrical Installation Condition Report
Every 5 years
must reach a satisfactory level
The process of letting out a property
TOE
Inspecting the property
Checks (proof of ownership & address, identification, landlord registration)
Insuring the is compliment with repairing standards
Gather all relevant information
particulars
Arrange viewings
interested parties – fill in application
Discuss in client their preferred options
Carry out more detail’s check – character & employer reference and credit check
Start tenancy document
Deposit, rent collection, record of condition and inventory
Hand over keys and tenancy
Changes to notice COVID-19:
PRT - (notice to leave)
all grounds are now discretionary.
28 d - not occupying the property
3m - landlord or family member wish to use
6m -rent arrears, selling, breach of agreement
SAT- notice to quit / section 33
(Might send section 11 notice to local council about repossession)
6 month notice
PRT - notice to leave
By giving your tenant a Notice to Leave ( along with guidance notes), you are telling them -
•that they must leave the property
•the date they should leave the property by
•why you are asking them to leave (also known as grounds)
EPC exemption -
- it is not technically feasible to carry out improvements
- where other owners in a block of flats refuse consent to do work to common parts of the building
- where tenants refuse consent for work
- where permission to carry out work to a property which is listed or in a conservation area can’t be obtained
- where the cost of improvements needed exceeds £10000.
what are the minimum EPC ratings -
at the moment d but there are talks of bringing this up to a C by April 2025 for new let houses.
what are tolerable standards
Housing (Scotland) Act 1987- basic level of repair your property must meet to make it fit for a person to live in.
what is include in tolerable standards
structurally stable, sink provided with a satisfactory supply of both hot and cold water , effective system for the drainage and disposal of foul and surface water. have a supply of electricity
what about smoke alarm and ect
rooms you spend most of the time in, circulation space , heat alarm in kitchen,
