1. LETTING ONLY

1.1. APS Estates Ltd (hereafter referred to as the Company) undertake to take a suitable tenant for your property at the best possible rent. The Company will advise you of any offers it receives that the Company considers to be reasonable.
1.2. The Company will take all reasonable precautions to ensure that any tenant is a fit and decent person to hold such a tenancy. The Company will seek references from the prospective tenant's employer (or college), bank and previous landlord where applicable. Copies of these references will be forwarded to the landlord on request. In certain cases, at the Company's discretion, the Company will seek a guarantor to support the tenancy. The Company will thereafter not be liable for any damage to, theft from, or other distress caused to the property or its contents whatsoever.
1.3. The Company will not be liable for any outstanding rent payments or utility bills should the tenant(s) default, and the landlord indemnifies the Company against any subsequent claim.
1.4. In some cases, and in all cases where the property is either a former local authority or housing association dwelling, the landlord will provide to the Company documentary evidence that he/she is the lawful owner and has the right to offer the property for rent. Where the Company deems this necessary, no tenancy can commence until the Company has satisfied itself in this regard.
1.5. It is hereby agreed that the landlord will pay to the Company a commission of 10% + VAT at 17.5% of the rental income for the initial period. Should the tenant(s), their family or associates extend or renew the tenancy beyond the initial period, the landlord shall pay to the company a commission of 7% + VAT at 17.5% for the second period and any subsequent periods. The commission for the first period will be deducted by the Company from the initial monies collected at the commencement of the tenancy and the balance forwarded to the landlord. Subsequent commission payments will be made by the landlord to the Company within 14 days of the extension or renewal of the tenancy.
1.6. The Company is an accommodation agency as defined in the Accommodation Agencies Act (1953) and is bound by this legislation.
1.7. The Company reserves the right to change the Terms and Conditions from time to time.

2. MANAGED PROPERTY

As the above terms (except paragraph 1.5), and additionally:-
2.1. Where the Company acts as the landlord's agent for the management of the property, that shall mean for the purposes of this agreement that the Company will:
2.1.1. Collect rent from the tenants and forward that rent (less the agreed management fee) to the landlord within 7 working days of payment.
2.1.2. Deal with any problems arising from the tenancy and inform the landlord of any matters that the Company feels appropriate.
2.1.3. Consult the landlord before carrying out repairs or renovations to the property. Any expenditure will be deducted from the rental income.
2.1.4. Inspect the property at regular intervals to ensure that the tenancy is being conducted in a proper manner.
2.1.5. Provide the landlord with regular statements of income and expenditure.
2.1.6. Carry out an inventory at the commencement and termination of the tenancy.
2.1.7. Hold the tenant's security deposit in the Company's client account on behalf of the landlord.
2.1.8. Except for non UK resident landlords who hold an exemption certificate, the Company is obliged to deduct tax at the appropriate rate from the rental payments and hold the sum accrued in the Company's client account as specified by HM Inland Revenue.
2.2. It is hereby agreed that the landlord will pay to the Company:
2.2.1. For a long let, i.e. a term of six months or more, a commission of 14% + VAT at 17.5% of the rental income for the initial period. Part of this payment will be deducted from the initial monies collected at the commencement of the tenancy, and the remainder will be deducted after six months.
2.2.2. For a short, i.e. a term of less than six months, a commission of 20% + VAT at 17.5% of the rental income. This payment will be deducted from the initial monies collected at the commencement of the tenancy.

3. TENURE

3.1. The Company will create on the landlord's behalf either:-
3.1.1. an assured shorthold tenancy agreement,
3.1.2. a 'company let', or
3.1.3. a 'holiday let'.
3.2. The Company will use its expertise and best efforts to create the appropriate tenancy agreement.

4. CONDITION OF PROPERTY

4.1. The landlord hereby declares that the property is in a suitable condition for habitation, and indemnifies the Company against any claim from tenants or any third party in this regard.
4.2. If any gas appliancies are in the property, the landlord undertakes to provide a current CORGI certificate for them at his own expense. The Company will, if required, and always in the case of managed property provide one on behalf of the landlord and deduct the cost from the monies collected at the commencement of the tenancy.