Section 1 Agency Terms Flashcards
How can contract arise between agent and landlord
Express app
Ratification
Estoppel
Implication of law
What’s express app
Straightforward written or oral contract
Best to have written contract Nd have landlord to sign this
Ratification
Landlord ratified contract if they agree to contract that agent created without landlords app
Estoppel
Landlord is prevented ( estopped) from denying agent is acting for them if they indicated to third party that agent is acting for them
Implication of law
Agent has to act in emergency as agent of necessity
Which regulation allows consumer to cancel contract
Consumer contract regulation 2013 for contract from 13.06.2014
Breach 5k
What agents contract needs to incorporate
14 day cooling off period
Agents needs to give
Notice of right to cancel
Form of cancellation notice to be filled in
What’s fine if you fail to give notice if right to cancel notice
Max 5k
Introduction only service - list responsibilities
Market property Show applicants around Take references Draw up tenancy agreement Ensure tenancy is signed
Extra payment can be also taken for
Draw up inventory and schedule of condition
Conduct check in of the tenant
Let and rent processing - list
All from introduction +
Taking and protecting deposit ( also can be under introduction only)
Passing all rents received
Sending rental statements
Writing to tenants if they fall into arrears
Accounting to HMRC if appropriate
Some agents will also include serving of noticed and checking tenants out
Let and management
Dealing with dah to day repairs
Arranging for gas n elect safety checks
Transferring utility accounts onto new tenants
Periodic visits
Preparing schedule and cost of damages at end of property
Negotiating betwwwn parties over damages
Extra charge for :
Obtaining possession
Representing landlord in court
Overseeing refurbishment work
Dealing with dah to day repairs
Arranging for gas n elect safety checks
Transferring utility accounts onto new tenants
Periodic visits
Preparing schedule and cost of damages at end of property
Negotiating betwwwn parties over damages
Extra charge for :
Obtaining possession
Representing landlord in court
Overseeing refurbishment work
Additional agency services
Pre letting contract
Empty property
Obtaining consent
Mortgagee consent
Tenancy must be no more than 12 months Tenancy must be ast Copy of draft of ta Details of new tenant Admin fee payable Tenant must abide leasehold if freehold covenants
Freeholder consent
Not to sublet Not to let sharers Restriction on number of occupants Restriction on length of tenancy Payment of fee Frehomder musg see draft
Consent from insurance
U must advise that you are letting
