Residential Lettings Agency Terms and Conditions (Letting & Deposit Holding Service) 
These Residential Lettings Agency Terms and Conditions (Letting & Deposit Holding Service) are designed for estate agents specialising in lettings and property management. They outline the responsibilities of both the Agency and the Owner/Landlord and specify how commission will be paid. Together with the Residential Agency Appointment Form (Letting & Deposit Holding Service), they form the contract between the Agency and the Owner/Landlord.
This version of the Terms and Conditions should be used where the Agency will be providing a letting and deposit holding service. This means the agent will be dealing with finding a tenant, setting up a tenancy and protecting the tenant’s security deposit in an authorised scheme.
Other versions are available for “Rent Collection”, “Letting Only”, and “Fully Managed” arrangements.
This version of the Terms and Conditions take into account the Tenant Fees Act 2019, and the Renting Homes (Fees etc.) (Wales) Act 2019.
Clause 1: contains definitions and key terms contained in the Appointment Form.
Clause 2: outlines the appointment of the Agent.
Clause 3: explains the Agent’s responsibilities. These duties include creating property listings, screening tenants, setting up a tenancy and handling the tenants security deposit.
Clause 4: outlines the Owner/Landlords responsibilities. These include getting any necessary approvals from insurers, landlords, or mortgage companies, and meeting legal requirements for gas appliances, electrical safety and fire safety and paying the Commission to the Agent.
Clause 5: deals with termination of the contract between the Agent and the Owner/Landlord.
Clause 6: deals with renewing or extending the tenancy. If the tenant stays after the original agreement ends, the Agent is entitled to additional commission called “Renewal Commission”.
Clause 7: outlines the Agents complaints process and confirms which redress scheme they are part of.
Clause 8: Deals with the Client Money Protection Schemes for Property agents.
Clauses 9 and 10 are standard legal clauses relating to the service of notices.
Clause 11: deals with Anti Money Laundering Regulations for Agents.
Clause 12: a standard legal clause dealing with Data Protection.
Clauses 13-16 are standard clauses dealing with VAT, the relationship between the parties and the duty of disclosure of Material Information and jurisdiction.
Optional phrases/clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
These Residential Lettings Agency Terms and Conditions (Letting & Deposit Holding Service) are in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
Once you have purchased access to the appropriate document folder click on the “Download Document” button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.
Residential Lettings Agency Terms and Conditions (Letting & Deposit Holding Service) is part of Property Documents. Just £35.00 + VAT provides unlimited downloads from Property Documents for 1 year.