Unit 3. Residential Letting and Property Management

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2 Produced for MOL Tech Award RIMP 3 v1.1 4/2014 All rights reserved; no part of this publication may be photocopied, recorded or otherwise reproduced, stored in a retrieval system or transmitted in any form by any electrical or mechanical means, without the prior permission of the copyright owners. 2

3 Introduction Contents section 1 Agency Terms introduction 1.1 appointment The Agent s Authority 1.2 standard agency services Introduction Only Let and Rent Processing Let and Management 1.3 consents Consent from the Mortgagee Consent from the Freeholder or Head Leaseholder Consent from Insurers section 2 Dealing with Applications: Offers, References and Guarantors 2.1 dealing with applications and offers Receiving Offers 2.2 qualification of offers Checking Applicants Details Giving Details to Landlords 2.3 negotiating the offer Processing Applications 2.4 references and credit checks References Credit Reference Agencies 2.5 guarantors Guarantor s Obligations Applicants without References/Guarantor s 3

4 section 3 Preparing Tenancy Agreements and Related Documents 3.1 tenancy agreements The Right Agreement 3.2 related documents Documents Relating to the Agent s Authority to Act Documents Relating to the Letting Other Items to Check 3.3 inventories, schedules of condition and safety records Inventories Schedules of Condition Safety Records section 4 Terms in Tenancy Agreements 4.1 details in tenancy agreements 4.2 the forfeiture clause Why is this Clause Included? 4.3 the deposit clause The Amount Holding the Deposit Tenancy Deposit Schemes What the Deposit Covers Interest on the Deposit 4.4 repair and maintenance 4.5 additional and non standard clauses Additional Clauses Non Standard Clauses 4

5 Introduction section 5 Handover Procedures 5.1 information for tenants Keys Check In and Inventory Tenant Information Sheet/Pack Tenancy Agreement Gas Safety Record Energy Performance Certificate (EPC) Standing Order Mandate 5.2 information for landlords Documents 5.3 information for other parties Utilities (Gas, Electricity and Water/Sewage Suppliers) Other Parties section 6 Client Account Procedures 6.1 holding client money Client Account 6.2 rent processing and statements Processing Statements 6.3 paying contractors 6.4 chasing arrears 6.5 deposits Dispute Procedures Interest on Deposits 5

6 section 7 Repairs and Maintenance, Insurance and Consents 7.1 property management, maintenance and repair Duties of the Property Manager 7.2 liabilities, out of hours emergencies, guarantees and service contracts Liabilities Out of hours Emergencies Guarantees and Service Contracts 7.3 instructing contractors and checking work Qualified Contractors Instructing Contractors Checking Work 7.4 insurance claims Authorisation 7.5 periodic visits Frequency and Scope Access During the Visit After the Visit 7.6 statutory consents Planning Permission Building Regulations Electrical Work in Property section 8 Breaches of Tenancy Agreements 8.1 who can be in breach? The Tenant The Landlord The Level of Breach 8.2 action for tenant breach Talking to the Tenant Writing to the Tenant Taking Legal Action Section 146 Notice 8.3 action for landlord breach The Agent s Duties The Landlord s Obligations What can Tenants do? 6

7 Introduction section 9 Extension, Renewal, Termination of Tenancies and Harassment 9.1 the landlord s options Extensions Renewals 9.2 ending an assured shorthold tenancy Possession within a Fixed Term Possession at the End of a Fixed Term Possession during a Statutory Periodic Tenancy 9.3 ending an assured tenancy Section 8 Notice 9.4 ending a non housing act tenancy Possession at the End of a Fixed Term Possession during a Periodic Tenancy 9.5 tenancies under the rent act tenants giving notice Fixed Term Tenancies Periodic Tenancies 9.7 grounds for possession 9.8 accelerated possession procedure (app) Conditions Decisions 9.9 tenancy termination the effects 9.10 harassment Suggested Answers to Review Exercises Glossary Reading List List of Legislation 7

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