NICHOLAS ZORAB ESTATE AGENTS, an independent and privately owned agency, has established itself as one of the leading estate agencies serving the Romsey and Test Valley area. As well as our sales related services we also specialise in lettings & property management. We believe in offering a quality, personal service which is backed up with the latest computerised management systems and our own website

It is impossible to cover every aspect of letting property in a short document but the Notes below will we hope give an overview of the most important items.

1. TENANCIES  AND DEPOSITS
The main types of tenancy in general use are :-
Assured Shorthold Tenancy (AST) created under the Housing Act 1988 and is ideal for most Landlords giving limited security of tenure for the Tenant and the ability to negotiate freely to obtain an open market rent. Until recently an AST had to be for a minimum period of six months but although this minimum period is now waived most Landlords and Tenants stick to it because of the expense of installing a new Tenant more often than that.   When the fixed term comes to an end it can be renewed for whatever period is agreed between the parties or it will continue normally until the Landlord gives a minimum of 2 months notice or the Tenant one month’s notice.
Company Let A Company or Institution cannot be a Tenant of an AST and whilst there is not a special type of Tenancy for Companies any agreement is basically the same as an AST but is for a fixed period and does not have the ability to be automatically continued as does an AST.
Other Tenancies There are various forms of other tenancies which include tenancies where the rent is over £25,000 per annum.
Deposits are retained by Nicholas Zorab Estate Agents in a separate account until the termination of the Tenancy under the terms of the Tenancy Deposit Scheme as provided by the Housing Act 2004

2. FURNISHED OR UNFURNISHED
Generally speaking there is no advantage in a property being furnished and often unfurnished property is more acceptable to prospective Tenants.
It should also be noted that under the Fire and Furnishings Regulations 1988 amended in 1993 the upholstered furniture in a property which is let must be suitably fire resistant and all furniture must carry a permanent label denoting that the furniture is fire resistant except for any furniture manufactured prior to 1st January 1950, this includes 3 piece suites, chairs, sofas, beds, head boards, mattresses, divans, sofabeds, loose, stretch and fitted covers, cushions, pillows and garden furniture suitable for use in a dwelling.    We will only accept instructions on condition that all furniture complies.

3. GAS AND ELECTRICAL SAFETY
The Gas Safety (Installation and Use) Regulations 1994 and 1996 state that Landlords must have all gas appliances checked by a Registered Installer.   These regulations also cover LPG appliances and the Engineer must be CORGI registered.   Landlords are required to keep a records of checks for 2 years and Tenants must be given a copy of the Gas Safety Certificate and the record.   A Safety Certificate must be available prior to the commencement of every tenancy whether or not we are managing the property thereafter.  
The Electrical Equipment (Safety) Regulations 1994   This provides that any electrical equipment must be safe and should either have instructions shown on the appliance or should have an instruction book supplied.   There are some exceptions but in general we recommend that Landlords obtain Certificates from a suitably qualified electrician showing the electrical installation and appliances have been tested.
The Smoke Detection Act 1991 made it mandatory to fit electric mains powered smoke alarms in new residential buildings whether let or not. We recommend that Landlords provide smoke alarms conforming to BS5446 Part I and that they should be tested as part of the electrical test.   Different rules apply to houses in multiple occupation (HMOs).

4. THIRD PARTY CONSENTS  
If the property to be let is held on a long Lease a Licence will have to be obtained from the Freeholder or Head Lessor before subletting.   If you are uncertain the simplest method of discovering any restrictions or consents that must be obtained is to contact the Managing Agents.
If the property is mortgaged the terms will have to be examined to check whether letting is expressly disallowed or the Mortgagor’s consent is required.   We will assume this has been obtained when accepting your instructions to let the property.

5. INSURANCE
Please ensure that the property and the contents that are owned by you are adequately insured and that you have informed your insurance company of your intention to let as many household policies do not cover unfurnished or furnished lettings.  

6. SERVICES AND OUTGOINGS
We will pay current outgoings such as service charges, shared expenses, insurance premiums if requested and account to you regularly.   Although we shall do our best to query any obvious discrepancies it must be understood that we are entitled to accept and pay demands and accounts which appear to be in order.   In particular we cannot accept responsibility for the adequacy of insurance cover.

7. MINOR REPAIRS AND REPLACEMENTS
We shall deal without any additional fee with day to day management matters including minor repairs up to a figure of £250 for any one item and, except in an emergency ,estimates are obtained and submitted to you for your approval. 

8. REFURBISHMENT AND MAJOR WORKS
 For the supervision of refurbishment , any works exceeding £ 500 other than normal repairs, a charge of 10% plus VAT of the total costs of the work is levied.   If there is any loss caused by the negligence or failure of tradesmen specified by the Landlord we will not be held responsible.

9. TAXATION
If the Landlord of furnished or unfurnished property resides abroad the Inland Revenue will hold us as your Agents responsible for the payment of any tax liability which arises on rents collected by us on your behalf unless you have obtained an Exemption Certificate.   If you do not hold a Certificate and you are resident abroad it will be necessary for us to deduct Income Tax at the current rate less allowable expenses and to pay such sums over to the Inspector of Taxes on a quarterly basis.   Similarly if you at present live within the UK but subsequently move abroad it will be necessary for us to commence this deduction from the time you leave the Country less you obtain an Exemption Certificate.   Because the eventual liability for tax may be less than the amount we have retained we suggest you employ a tax adviser at the outset.
If you are resident in the UK you should declare your residential lettings income to the Inland Revenue annually as it is assessable for income tax.

10. SCHEDULES OF CONDITION AND INVENTORIES
We will prepare within our fees a Schedule of Condition at the outset of the tenancy which the new Tenant then signs as an agreed statement in case of damage during the tenancy, other than fair wear and tear.   If a property is let furnished an additional Inventory should be prepared by a professional Inventory Clerk for an additional fee.   We strongly recommend that Landlords have an Inventory as it can save costly litigation and disputes at the termination of a Tenancy.

11. FEES: types of letting and property management service to Landlords;

• Tenant Find Service –

This option covers all the work necessary to find, reference, check-in and check-out the Tenant including all legal and associated documentation including inventory/schedule of condition.  Contact between the parties during the tenancy is direct between the Landlord and Tenant. The Fee for Tenant Find is one  month’s rent plus VAT payable prior to the check in.  The following  additional charges  apply if required
          a) Renewal of an existing agreement 
             or change to periodic ( month to month)  £50.00  plus VAT                                         
         b) Arranging gas safety check                      £25.00  plus VAT
         c) Issuing Legal notices                                £25.00  plus VAT
         d) Copies of yearly statement                       £25.00  plus VAT
         e) Empty property visits                               £35.00  plus VAT (per visit) 
          f) Extended rent guarantee                           Price on application

Full Management Service –  including rent guarantee ( subject to condition)
This option includes the Tenant Find Service together with the collection of rent and onward payment by BACS, regular inspections, full reporting, arranging and overseeing repairs and the caretaker service when empty which consists of a weekly visit. The fee for the Full Management Service is one month’s rent + VAT  payable at the commencement of the tenancy and 12.5% of the rent plus VAT.  The additional charges above are included.

Our fee for our fully managed service includes full rent guaranteed, this is subject to satisfactory  referencing , it includes free rent guarantee insurance and the fist month’s loss rent ( unfortunately it is not available to DSS tenants and is for a maximum of a year). Our fee also includes satisfaction guaranteed ,so if you are not happy with our service in any month we will not charge you that month and give you  the next month absolutely free.  The Agent reserves the right to retain any interest or commission whilst carrying out duties on behalf of the Landlord.

12.. ADDITIONAL COSTS:
Any additional costs will be agreed with you in advance.

13..TENANTS:
We will market your property using both advertising and direct contact with relocating companies.