Landlords

Fuji London Property can help you update and transform your property. With the popularity of the "Buy to Let" scheme, and the consequent increases in homes available for rent, prospective tenants can afford to be choosier than even when selecting a home. In the current market conditions, it is important that property is kept well maintained, in good decorative order, and with tasteful furnishings, to make if easier to let. In the long run, this will prove to be a sound investment, as certain properties will always be sought after and competed for, because of their location and appearance.
We are able to arrange competitive estimates for any work you need done - whether it is an extension you need built or a shelf put up. We are also happy to give advice free of charge on the type of decor and furnishing that are generally popular with prospective tenants. We use engineers known to us for their honesty, high quality work and craftsmanship.

1. Letting Fee

a) 10% plus VAT of gross annual rental.

b) 10 % plus VAT of gross annual rental for the second year and for subsequent years.

c) The fees are payable even if you dispense with our service during the Tenancy

d) A minimum charge of £350 plus VAT, if the amount of fee is less than £350.

e) We will deduct our fees by instalment from the first and second

month's rent from commencement of the Tenancy or renewal of the Tenancy.

2. Letting Service

a) Arranging appointments to view.

b) Introduction of tenants.

c) Obtaining references upon your request.

d) Negotiating the Terms of Tenancy Agreement.

e) Drawing up a Tenancy agreement (costs shared with tenant).

f) Arranging the transfer of utilities to service companies (gas, electricity, telephone)

g) Collection and statement of rent

h) Negotiating for the renewal of Tenancy.

3. Deposit

Fuji London Property Ltd will hold a deposit against any damages or dilapidation caused by the Tenant.

4. Full Management Fee

a) 15 % plus VAT of gross annual rental.

b) 15 % plus VAT of gross annual rental for the second year and for subsequent years.

c) Our Full Management fee structure is based on 10 % letting fee plus 5 % management fee. We will charge a minimum fee of £600 plus VAT per year, if 5 % management fee is less than £600.

d) We will deduct our fees by instalment from the first and second months rent from commencement of the Tenancy or renewal of the tenancy.

5. Full Management Service

a) All the letting service as above.

b) Paying charges, expenses, bills in respect of the Property stated in the Tenancy Agreement.

c) Routine day-to-day management of the Property.

d) Arranging repairs up to £300 at our discretion. In the event of an emergency, we reserve the right to authorise repairs in excess of this amount.

e) We will retain a balance of £300 as reserve for paying bills.

We do not pay any interest on funds held to your account.

a) Inspection of the Property on request.

6. Commission Charges

a) We will be entitled to the agreed commission if we let your property whether you instructed us verbally or in writing.

b) Our fees continue to be payable at the same rate for any period which the Property is let including any extension of the initial tenancy whether or not negotiated by us.

c) We shall retain fees from monies received by virtue of this contract.

d) We will refund our fees on a pro-rata basis provided that the Tenant operates a break-clause in accordance with the Tenancy Agreement and all our fees have been paid in full within 30 days of their due date.

e) If the Tenant or occupier introduced by us purchases the property during the term of the tenancy or within one year of the termination, we shall charge the Landlord (vendor) in respect of the introduction a commission of 2 % plus VAT of the final purchase price payable on completion.

f) Withdrawal from Agreed offer

You agree to pay a charge of £350 plus VAT to meet the cost of the expenses incurred by us in the event of you withdrawing from the agreement in finalising the Tenancy Agreement.

7. Additional Work

a) Non routine day to day management and major work

10 % plus VAT will be charged if the works cost in excess of £1,000.

b) Insurance claims

10 % plus VAT of the claim value subject to a minimum charge of £50 plus VAT.

c) Any request to carry out work on Non-Management properties.

10 % plus VAT of the total cost of the work or items purchased subject to a minimum charge of £50 plus VAT.

d) Management service between lettings

(Management Service does not apply during periods when the Property is un-let.) Minimum charge £25 plus VAT per week.

8. Other items and costs

a) Making of Tenancy Agreement

£75.00plusVATischarged.

When a Tenancy is extended, £50.00 plus VAT is charged.

b) Three typewritten copies of Inventory List must be supplied by the Landlord with a comprehensive listing, full description and its condition of items, and a Schedule of Conditions with a description of the general of condition of items such as decoration, flooring, lighting, glazing etc. If you are not able to supply these, you must instruct an Inventory Clerk to create them at your cost.

c) Check In - We shall instruct a professional inventory clerk to carry out an inventory check-in at the commencement of the Tenancy.

The Landlord shall pay the cost of the check-in.

d) Check Out - We shall instruct a professional inventory clerk to carry out the check-out at the expiration of the Tenancy.

e) The Tenant shall pay the cost of the check-out.

9. General Remarks

a) You may give no less than three months prior written notice to terminate our appointment to manage a Property.

b) We shall not be liable for any rent or non-payment or any other liabilities incurred by the Tenant and occupier or for any outgoings payable on your behalf.

c) We shall not be liable for any deficiency, loss or damage to the Property, its fixtures and fittings and contents whether included in the inventory, nor for the negligence of our servants or agents in relation to the Property.

d) We will not be liable for the management, protection or security of any Property before it is let or at the termination of a tenancy or if un-let between tenancies.

e) You authorise Fuji London Property to pay all bills provided that we accept no liability for the adequacy of any insurance cover or for the verification of any bills, service charges, maintenance charges or the works carried out.

f) We may instruct subagents to enable us to gain access to a wider market. Unless we are requested in writing by the Landlord not to instruct sub-agents then this will form part of our normal practice.

10. Obtaining permissions to Let

a) If the property is subject to a mortgage,

· Permission is obtained from the mortgagor to let the Property.

b) If the Property is leasehold,

· Any intention of letting is permitted by the terms of the Landlord’s Head Lease.

· Any tenancy is for a period expiring prior to the termination of your Head lease.

· The written permission of your Head Leaseholder if required is obtained for sub-letting.

11. Legal Obligations

a) The Furniture & Furnishings (Fire)(Safety) Regulations 1988 and the Fire

& Furnishings (Fire)(Safety)(Amendments)(Regulations 1993)

The Consumer Protection Act 1987 requires that all upholstery and upholstered furnishings,

loose fittings, permanent or loose covers supplied in a property being rented from 1st March

1993, must meet the Fire Resistance Requirements. Furniture manufactured before 1^st January 1950 ( antique or period furniture is exempt).

b) The Health & Safety at Work Act 1974 section 36 (1), Gas Safety

(Installation and use) Regulations 1994 & 1996 and Electrical Equipment

(Safety) Regulations 1994

Under the above Act we have a liability to make sure that gas and electrical appliances in rented properties are checked annually by a registered installer/engineer and that accurate records of work carried out on all appliances are kept. As an agent we have a duty to inform you of these requirements. It is your responsibility that such records are available for inspection by us and the Tenant at any time.

c) Landlord & Tenant Act 1985

We as Managing Agents have permission to maintain the Property as stated in the Tenancy Agreement subject to the provisions of Section 11 & 116 of the Housing Act 1988 in relation to your obligations to keep in repair the structure and exterior of the dwelling house including drains, gutters and external pipes, and to keep in repair and proper working order the installations for the supply of water, gas, electricity and sanitation including basins, sinks, baths and sanitary conveniences also the installations for space heating and heating of water.

d) Landlord and Tenant Act 1987

Your full name and address should be included on all rent demands. If your address is outside England and Wales then we must provide the Tenant with an address within England and Wales to which Notices may be served upon you. Unless otherwise instructed, if your address is outside England and Wales, we will use the address of our Central Administration Office for this purpose.

Income from letting is subject to UK Income Tax, even if the Landlord is resident overseas or a company registered overseas. The Taxes Act 1988 S42A(1) empowers the Inland Revenue to make regulations for the taxation of non-residents in respect of property Income. These regulations are detailed in The Taxation of Income from Land (Non- Residents) Regulations 1995

a) If we are not in possession of an Approval then in these circumstances we are obliged by the Inland Revenue to deduct the basic rate of tax from the rent net of allowable expenses before it is remitted to you.

b) We can be liable for tax on your letting income by the Inland Revenue if you are resident overseas.

c) You are responsible for notifying the Inland Revenue of the commencement of any Tenancy and any changes in personal circumstances which may affect your tax liability.