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Terms And Fees

Tenants Standard Terms & Fees

The purpose of this document is to provide guidance on standard Tenant fees and obligations. This should be read alongside the Tenancy Agreement and the Terms of Offer.

Contracts, References and Administration Fees

A fee of £250.00 + VAT will be payable upon creation of a legally binding Tenancy Agreement. This fee is inclusive of variable reference costs averaging £40.00 + VAT per applicant and guarantor as well as Deposit Protection.

Early Termination Cost

Should you terminate your tenancy before the end of the term and the Landlord agrees that you can terminate early, you will be responsible for the repayment of the pro-rata commission fee paid in advance by the Landlord for the unexpired portion of the tenancy, unless you are exercising a break clause which is contained in your Tenancy Agreement.

Change of Tenants

It is your obligation to obtain written consent from the Landlord for any change in the identity of the Tenants. Upon receipt of this consent Capital Apartments will draw up a Tenancy Agreement for signature by all parties. A fee of £150 + VAT will be charged for this service.

Renewal of Tenancy

Please contact us in advance if you wish to extend your tenancy. If the tenancy is renewed, we will make a charge of £80 + VAT to cover our administration.

Arrears Fee

Any chasing of Rent Arrears will be subject to administration and recovery charges of £25 + VAT per letter up to the value of £75 + VAT.

If any charges remain outstanding at the end of the tenancy, Capital Apartments, will deduct the amount due from the deposit.

Interest on Late Payments

If the Tenant makes late payment of Rent the Landlord or the Landlord’s Agent may calculate and charge interest on that late payment at a rate equivalent to 3% over the bank base rate of Barclays Bank plc at the time from the Rent Due Date or the date on which any other sum payable under this Agreement is due until the date of payment.

Payment of Rent

The Rent in cleared funds is due in advance of the Rent Due Date as specified in the Tenancy Agreement. Note that standing orders must be set up so that the funds leave your account three days before the Rent is due. The first installment of Rent must be paid upon signing the Tenancy Agreement.

Deposit

A deposit equivalent to four/ six weeks’ rent must be paid in cleared funds when you sign the Tenancy Agreement in accordance with the terms of the Tenancy Agreement. Where applicable, Capital Apartments will register the deposit monies with a Government-accredited tenancy deposit protection scheme on the Landlord’s behalf.

All deposit deductions must be agreed in writing by both Landlord and Tenant upon the termination of the tenancy. The Tenancy Agreement is between the Landlord and the Tenant and therefore the Tenant cannot hold Capital Apartments liable for any deductions made from the deposit which may fall into dispute. Any interest earned on the deposit shall be retained by Capital Apartments.

References/Identification

We will follow up with references based on the details that you have supplied to us. These references may be passed to our client so that they can make a decision about granting a tenancy.

You are responsible for any administration charges levied by your own bank in relation to obtaining a reference.

Check-in and Check-out

The Landlord will decide whether an inventory is drawn up for the Property privately (no costs involved) or to undertake a professional inventory. If a professional inventory is done then you will be liable to pay for the check-out inventory at the end of the tenancy. The Landlord will pay for the preparation of the inventory at the beginning of the tenancy.

Insurance

The Tenant is advised to take out and maintain appropriate insurance on all of his/her own furniture, contents and effects in the Property.

Utilities

You will be responsible for the payment of telephone, gas, water and electricity accounts and council tax at the Property during your tenancy. It is your responsibility to notify the relevant companies and the local authority that you are moving into/out of the Property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy, if required.

Taxation

If your Landlord is resident outside the UK we recommend you contact HMRC (www.hmrc.gov.uk) to ensure you are compliant with the current regulations. Please note that Capital Apartments is not liable for the tax implications of rental payments to overseas Landlords.

These provisions do not apply where you are paying your rent to Capital Apartments.

Anti-Money Laundering Regulations

We are required by the Money Laundering Regulations 2007 to undertake enquiries at the outset of our agreement (and possibly at later stages also) to ensure that we have ascertained and verified the identity of our Client, and have understood the source of all funding to be used by you in any transaction. We will discuss with you the materials we need you to provide to us and may also use an online ID verification website for Anti-Money Laundering purposes.

Please note that we are not permitted to commence or continue providing any services to you until all requested materials have been provided.

Management of the Property

At the start of the tenancy we will advise you who is responsible for managing the Property. This is not always Capital Apartments. Where we are not managing the Property we cannot authorise any repairs or maintenance or guarantee the speed at which repairs will be carried out. Where we are managing the Property, we may have to obtain the Landlord’s consent before proceeding with a repair.

Where we manage a Property and hold keys, the Tenant is to inform the Property Management Team if they want to be present when works take place. However, where we do not hold keys or the contractor is not willing to collect keys, it is your responsibility to provide access.

If you are not available when contractors arrive or do not allow contractors to complete the job for any reason, there will be an abortive fee payable by the Tenant(s) of £50.00 + VAT. No contractors will be appointed to the Property until the charge is cleared.

Complaints Procedure

If you have a complaint please contact Lisa Joseph, preferably by email at lisa@lettings.co.uk, with a full description of the issue. Lisa will then liaise with those relevant to help resolve your concerns.

Customer service is taken very seriously at Capital Apartments and in light of this we have a three stage complaints procedure:

  • Stage 1 - Informal: A person wishing to make a complaint should explain clearly what he or she is dissatisfied with, and what he or she wishes Capital Apartments to do. A response to a complaint at an informal stage will be made as soon as possible and in any event within 10 working days.
  • Stage 2 - Formal: A formal complaint will be recorded and acknowledged by our Managing Director, who will then write to the relevant department instructing them to investigate the complaint and deal with it appropriately.

A written response from the department will be provided within 20 working days. If this period is exceeded the customer will be informed as to why this is the case.

Amendments

Capital Apartments reserve the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.

VAT

All our fees are subject to VAT which is currently charged at 20%.

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