Terms and Conditions
Fee Structure including VAT
Let Only Service – Fee: 13% Inc Vat - Plus Reference/Inventory/Check In/Out Costs
Our fee is charged on the total rent reserved under the tenancy agreement. Our fee is due on commencement of the tenancy. ea2 are entitled to deduct the fee and any other costs from funds in the way of rent received from the tenant.
Under the Let Only Service, ea2 will endeavour to provide the following services:
- To prepare details for marketing including photographs. To advertise using our extensive marketing platforms including the 3 market leading portals, traditional glossy magazine coverage and through social media.
- To negotiate an acceptable monthly rent and terms and conditions between the landlord and the tenant.
- To organise the referencing and ensure the tenant/s are compliant with the Right to Rent legislation of the tenant/s, (at the landlord’s cost, £75.00 Inc. Vat per reference).
- To prepare an assured shorthold tenancy agreement for the monthly rent and term agreed. To collect 1 calendar month’s rent in advance and the damage deposit in cleared funds (equivalent to 5 weeks rent). Where the annual rent is equal or above £50,000 per annum then a damage deposit up to the equivalent of 6 weeks can be requested.
- To organise the Inventory report, Check In and check Out reports, (at the landlord’s cost, £150.00 Inc. Vat per report).
- To forward the funds to the landlord via bank transfer.
- Upon commencement of the tenancy to lodge the deposit with the DPS, Deposit Protection Service.
Management Service – Fee: 16% Inv. Vat - Plus Reference/Inventory/Check In/Out Costs
Our fee is charged on the total rent reserved under the tenancy agreement. Our fee is payable monthly. Ea2 are entitled to deduct the fee and any other costs from funds in the way of rent received from the tenant.
Under the Management Service, ea2 will endeavour to provide the following services: -
- To prepare details for marketing including photographs. To advertise using our extensive marketing platforms including the 3 market leading portals, traditional glossy magazine coverage and through social media.
- To assist with the procurement and requirements of an additional licence where applicable.
- To negotiate an acceptable monthly rent and terms and conditions between the landlord and the tenant.
- To organise the referencing and ensure the tenant/s are compliant with the Right to Rent legislation of thetenant/s, (at the landlord’s cost, £75.00 Inc. Vat per reference).
- To prepare an assured shorthold tenancy agreement for the monthly rent and term agreed. To collect 1 calendar month’s rent in advance and the damage deposit in cleared funds (equivalent to 5 weeks rent).Where the annual rent is equal or above £50,000 per annum then a damage deposit up to the equivalent of 6 weeks can be requested.
- To organise the Inventory, Check In and check Out reports, (at the landlord’s cost, £150.00 Inc. Vat per report).
- To forward the monies to the landlord via bank transfer minus our agreed fee.
- Upon commencement of the tenancy to lodge the deposit with the DPS, Deposit Protection Service.
- To respond to any disrepair reported to us from the tenant during the duration of the tenancy. To inform the landlord of any such reports so that action may be taken.
- To organize/carry out periodic inspections of the property.
- To comply with all reasonable instructions received from the landlord in relation to the management of the property in accordance to the principles of good management.
- To carry out a check out once the tenant has vacated the property and advise the landlord of any discrepancies with the inventory and state of the property.
General –
- The damage deposit will be forwarded to the DPS as per legislation introduced in the Housing Act 2004. ea2 accepts no liability or responsibility for dispute arising between the landlord and the tenant regarding the repayment of the damage deposit. Further information on this legislation can be found on www.depositprotection.com
- Should the tenancy be subject to a renewal, extension or a new agreement with the original tenant or any party associated or connected, then ea2 will be due a fee in accordance with the original fee agreed. The fee is based on rental income received by the landlord.
- Should the tenant or any party associated or connected purchase the property after the commencement of the tenancy agreement then the landlord will be liable to pay ea2 a fee in accordance with a normal sole agency fee of 2.0% plus vat of the final sale price once contracts have exchanged.
- Should the landlord dispense with our services but enters into an agreement with the tenant introduced by ea2 then the landlord will be liable for the original agreed fee.
- ea2 introduce the tenant in good faith and cannot be held responsible or liable for any disputes arising between the tenant and the landlord.
- Should the tenant terminate the tenancy agreement prior to it completing the full term then ea2 will refund the landlord pro rata. This refund will not be payable should the landlord exercise a break clause. This refund will be subject to the landlord making the property available to ea2 for a re-let.
- Should the landlord enter legal actions against the tenant in relation to recovery of rent or possession or any other matter relating to the tenancy of the property then the landlord does this at their own expense. ea2 are not liable for any legal costs or any other costs relating to the tenancy of the property.
- ea2 cannot accept any responsibility or liability for the information provided to us through referencing.
- The landlord is responsible for paying the stamp duty liable on the tenancy agreement. ea2 are not liable for any costs resulting in un-paid stamp duties or penalties.
- While the property is let ea2 may terminate this agreement by giving the landlord not less than 1 months’notice to expire at any time.
- While the property is let the Landlord may terminate this agreement by giving ea2 not less than 1 months’ notice to expire at any time.
- ea2 will forward all rents within reasonable time to the landlord subject to funds being cleared in our account.
- The landlord consents to indemnify ea2 from any loss suffered by ea2 during conducting the management of the property.
- Should the landlord withdraw from the rental of the property after an offer has been agreed and a holding deposit has been taken then the landlord will be liable to pay ea2 Ltd £500.00 administration costs. Should the landlord instruct ea2 Ltd to have any works carried out on the property then the landlord will be liable for these expenses.