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kayak
25-04-2008, 18:53 PM
Hello all,

I have realised that I really should be giving tenants a full set of terms and conditions when they place a sum of money on a property, like I have with landlords.

Here is my proposed wording. I warmly welcome any criticism and comments on any wording, legalities or anything else! These terms and conditions aren't in use and have just been written 10 minutes ago so I am sure there will be many more drafts to follow!

Terms and conditions for prospective tenants

The following terms and conditions have been laid out to make clear prospective tenants obligation to Maverick Property Management, and Maverick Property Management’s obligations to the prospective tenant(s). These terms and conditions should be read in conjunction with our privacy policy available at http://www.maverickpropertymanagement.co.uk/privacypolicy.pdf or a printed copy is available on request by writing to Maverick Property Management, 3 Wyeverne Road, Cadiff, CF24 4BG.

Administration Fees
• Administration fees are payable to cover the cost of referencing and the administration involved in drawing up an agreement.
• Administration fees are strictly non-refundable in the case of a prospective tenant withdrawing their application.
• Administration fees are strictly non transferable between persons, tenancy agreements and/or properties.
• Administration fees are strictly non-refundable in the case of failed referencing, incomplete information or failure to provide a guarantor on request.
• Administration fees will be fully refunded in the case of the landlord or letting agent withdrawing the invitation for a tenancy agreement excluding any of the reasons listed above.

Advance Payments
• Any advance payments will be treated as holding fees until the tenancy has commenced.
• An advance payment of an amount equal to the bond must be made within 14 days of an application for tenancy being made unless written permission is received from the landlord or letting agent.
• If the above advance payment is not received with 14 days then the tenancy application will be terminated at the letting agents and landlords discretion.
• 100% of any advance payments will be forfeited if an application is withdrawn within the last 30 days of the start date of the tenancy.
• 75% of any advance payments will be forfeited if an application is withdrawn between 31 and 60 days before the start date of the tenancy.
• 50% of any advance payments will be forfeited if an application is withdrawn between 61 and 90 days before the start date of the tenancy.
• 10% of any advance payments will be forfeited if an application is withdrawn with over 90 days before the start date of the tenancy.
• A maximum of 10% of any advance payments made will be forfeited if replacement tenants starts a tenancy agreement, on or before the start date for the withdrawn tenancy.
• Joint tenancies will result in advance payments being treated as one amount.

General Points
• Administration fees and any advance payments made will be fully refunded in the case of a change of start dates of the tenancy, property availability or any other changes where these changes result in an alteration to the tenancy agreement where the prospective tenant(s) do not agree with the proposed alterations.
• No compensation will be paid to prospective tenants where proposed alterations are not accepted, resulting in tenancy not commencing.
• The conditions of the tenancy agreement are agreed from when the first sum of money is cleared into the company’s bank account and supersede any other agreements made, whether verbal or written.

Kind regards,

John

kayak
26-04-2008, 08:33 AM
Apologies for the poor grammar - I read it through when I got home last night!

Kind regards,

John

PaulF
27-04-2008, 18:11 PM
Hello all,

I have realised that I really should be giving tenants a full set of terms and conditions when they place a sum of money on a property, like I have with landlords.

Here is my proposed wording. I warmly welcome any criticism and comments on any wording, legalities or anything else! These terms and conditions aren't in use and have just been written 10 minutes ago so I am sure there will be many more drafts to follow!

Terms and conditions for prospective tenants

The following terms and conditions have been laid out to make clear prospective tenants obligation to Maverick Property Management, and Maverick Property Management’s obligations to the prospective tenant(s). These terms and conditions should be read in conjunction with our privacy policy available at http://www.maverickpropertymanagement.co.uk/privacypolicy.pdf or a printed copy is available on request by writing to Maverick Property Management, 3 Wyeverne Road, Cadiff, CF24 4BG.

Administration Fees
• Administration fees are payable to cover the cost of referencing and the administration involved in drawing up an agreement.
• Administration fees are strictly non-refundable in the case of a prospective tenant withdrawing their application. Potential Unfair Term
• Administration fees are strictly non transferable between persons, tenancy agreements and/or properties.
• Administration fees are strictly non-refundable in the case of failed referencing, incomplete information or failure to provide a guarantor on request. See above
• Administration fees will be fully refunded in the case of the landlord or letting agent withdrawing the invitation for a tenancy agreement excluding any of the reasons listed above.

Advance Payments
• Any advance payments will be treated as holding fees until the tenancy has commenced.
• An advance payment of an amount equal to the bond You need to be more precise in your wording of "bond" when you mean "deposit"must be made within 14 days of an application for tenancy being made unless written permission is received from the landlord or letting agent.
• If the above advance payment is not received with 14 days then the tenancy application will be terminated at the letting agents and landlords discretion.
• 100% of any advance payments will be forfeited if an application is withdrawn within the last 30 days of the start date of the tenancy.Potential unfair term definitely - penalty (as above) - also the word forfeit immediately irks the OFT
• 75% of any advance payments will be forfeited if an application is withdrawn between 31 and 60 days before the start date of the tenancy.
• 50% of any advance payments will be forfeited if an application is withdrawn between 61 and 90 days before the start date of the tenancy.
• 10% of any advance payments will be forfeited if an application is withdrawn with over 90 days before the start date of the tenancy.
• A maximum of 10% of any advance payments made will be forfeited if replacement tenants starts a tenancy agreement, on or before the start date for the withdrawn tenancy.
• Joint tenancies will result in advance payments being treated as one amount.

General Points
• Administration fees Applicants don't pay "fees" - only landlordsand any advance payments made will be fully refunded in the case of a change of start dates of the tenancy, property availability or any other changes where these changes result in an alteration to the tenancy agreement where the prospective tenant(s) do not agree with the proposed alterations.
• No compensation will be paid to prospective tenants where proposed alterations are not accepted, resulting in tenancy not commencing.Another potential unfair term
• The conditions of the tenancy agreement are agreed from when the first sum of money is cleared into the company’s bank account No! it's when the landlord has signed the tenancy agreement; the money is a consideration but the timing of the payment is irrelevant as is the "cleared" funds statement.and supersede any other agreements made, whether verbal or written."verbal" can mean written; what you mean is oral

Kind regards,

JohnThis is by no mans a comprehensive appraisal of your wording, just one or two pointers. If you want me to come to Cardiff and do a training session I will do. There is at least one other person who I know wants me to come so you can divide the costs. Just e-mail me at learnletting@btinternet.com

kayak
28-04-2008, 08:43 AM
This is by no mans a comprehensive appraisal of your wording, just one or two pointers. If you want me to come to Cardiff and do a training session I will do. There is at least one other person who I know wants me to come so you can divide the costs. Just e-mail me at learnletting@btinternet.com

Thank you very much for the above points, exactly what I was looking for.

I realise a couple of my proposed terms are harsh, and as you have pointed out - potentially unfair, such as:

• 100% of any advance payments will be forfeited if an application is withdrawn within the last 30 days of the start date of the tenancy.Potential unfair term definitely - penalty (as above) - also the word forfeit immediately irks the OFT

Which is why I added in this condition at the end to attempt to remove any unfairness:

A maximum of 10% of any advance payments made will be forfeited if replacement tenants starts a tenancy agreement, on or before the start date for the withdrawn tenancy.

My last clause was poorly written as I agree what you are saying, but it wasn't quite what I meant!

Thank you for your offer of a training course in Cardiff, but I do not think I could justify a course to learn to write terms and conditions, but thanks again.

Kind regards,

John

PaulF
28-04-2008, 13:40 PM
Oh it's not just T&C believe me. Ask any letting agent with whom I've spent a day training and it will be an eye-opener.

kayak
28-04-2008, 14:29 PM
Oh it's not just T&C believe me. Ask any letting agent with whom I've spent a day training and it will be an eye-opener.

Apologies, I'm sure it wouldn't be! Feel free to PM a course brief through and I would be interested to read through it, but it wasn't really something I had considered!

Kind regards,

John