MANAGEMENT SERVICE - 12.5% OF TOTAL RENT RECEIVABLE PLUS VAT
(Example:- If the monthly rent was £3000.00 the fee would be £450.00)
This service includes all the services referred to hereabove as well as the following:
1. We will pay from rental income all regular outgoings pertaining to the property i.e. service charge, ground rent, insurance etc., but only if the demands for such outgoings are sent to us. The Landlord must ensure that these demands are sent to us. We cannot accept responsibility for the adequacy or otherwise of any insurance cover nor can we predict or specify service/maintenance charges, demands or estimates. Although we will do our best to query any obvious inaccuracies we must emphasise that we are entitled to accept and pay on your behalf demands and accounts which appear to be correct at the time of payment.
2. We will inspect the property regularly (usually quarterly). However, these visits can only provide a superficial examination and are not intended to be a structural or other survey or inventory check. All inspections by Central Estates are carried out in good faith and without any responsibility on our part whatsoever.
3. We will arrange for the day to day maintenance, repairs and servicing of appliances up to a maximum of £300.00 for any one item without further instruction by the Landlord. We will do our best to use contractors who have been specifically nominated by the Landlord but we cannot guarantee to do so. Where the repair, renewal, re-placement, necessary re-decoration etc. are liable to cost more than £500.00 we will, where possible, obtain 2 estimates, except in the case of an emergency. Upon acceptance of the estimate we would then put in hand the works, providing we are in funds, which we would supervise and inspect. Should you wish to claim on insurance we will handle the claim on your behalf at a cost to be agreed. Additionally, for works requiring supervision and costing in excess of £1000, we shall levy a charge of 10% of cost plus VAT, to cover our expenses. (Example:- If the works cost £1100.00 it would incur a fee of £132.00 inc VAT).
4. At the termination of a Tenancy we would arrange for the inventory to be checked by an independent inventory company and for a schedule of dilapidations (if any) to be prepared. We will negotiate and agree dilapidations on your behalf. We will arrange for cleaning and routine repair works (subject to availability of funds) and obtain estimates for larger works if appropriate.
5. Arrange for the additional cleaning of the property between Tenancies if, in our opinion, this should become necessary.
6. It should be noted that our responsibility only commences as and when we have found a Tenant for the property that has entered into a Tenancy Agreement. Unless otherwise agreed, our appointment as managing agent is for the duration of the tenancy and any renewal or extension, subject to three months written notice by either party.
7. During the full term of the Tenancy we must be in sufficient funds to enable us to meet any expenditure prior to the next rent collection. Please note we are unable to arrange for works of repair unless we are holding sufficient funds from you to cover the expected cost.