Residential Lettings Agency Terms and Conditions (Letting Only Service)
These Residential Lettings Agency Terms and Conditions (Letting Service Only) 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 Service Only), they form the contract between the Agency and the Owner.
This version of the Terms and Conditions should be used where the Agents role is limited to finding a tenant and setting up a tenancy.
Other versions are available for “Rent Collection”, “Letting & Deposit Holding”, and “Fully Managed” arrangements.
Other versions are available for “Letting and Rent Collection” or “Letting Only” arrangements.
This version of the Terms and Conditions take into account the changes to the Tenant Fees Act 2019, and the Renting Homes (Fees etc.) (Wales) Act 2019.
The Tenant Fees Act 2019 ban most upfront fees charged to Tenants in England.
The Renting Homes (Fees etc.) (Wales) Act 2019 also ban most upfront fees charged to tenants in Wales.
The Terms and Conditions contain the following clauses:
Clause 1: contains definitions and key terms contained in the Appointment Form.
Clauses 2 and 3: outlines information about the Agent and communication and contact details.
Clause 4: outlines the appointment of the Agent.
Clause 5: explains the Agent’s responsibilities including creating property listings, screening tenants and setting up a tenancy.
Clause 6: outlines the Owners 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. Please note that the Owner is responsible for protecting and handling the Tenants Security Deposit and they should be clearly made aware of this from the outset of your instruction.
Clause 7: outlines the Cancellation of Contract during the Cooling Off Period as required under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 which relate to contract made in a consumers home or otherwise off the traders premises.
Clause 8: deals with termination of the contract between the Agent and the Owner.
Clause 9: 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 10: outlines the Agents complaints process and confirms which redress scheme they are part of.
Clause 11: deals with the Client Money Protection Schemes for Property agents.
Clause 12: is a standard clause relating to the nature of the Agreement.
Clause 13: deals with Data Protection.
Clause 14: deals with Money Laundering Regulations.
Clause 15: deals with Consumer Protection and Disclosure of Information.
Clauses 16 and 17: standard clauses relating to Relationship of the parties and VAT
Clause 18: sets out other important terms
Clause 19: deals with other information for the owner
Clause 20: standard jurisdiction clause.
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 Only 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 Only Service) is part of Property. Just £38.50 + VAT provides unlimited downloads from Property for 1 year.