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Terms & Conditions, Landlord Fees and Tenant Fees.

Terms & Conditions. Residential, COMMERCIAL TENANCIES

ASSURED SHORTHOLD TENANCIES (ASTs) from 1st June 2019

1)  Security Deposit (per tenancy. Rent under £50,000 per year) — Five weeks’ rent
This covers damages or defaults on the part of the tenant during the tenancy.
2) Holding Deposit (per tenancy) — One week’s rent
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
3) Security Deposit (per tenancy. Rent of £50,000 or over per year) — Six weeks’ rent
This covers damages or defaults on the part of the tenant during the tenancy.
4) Unpaid Rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
5) Reservation Fee for Residential/COMMERCIAL TENANCIES
A reservation fee will be received to secure the property during the referencing stage and will form part of your initial payment prior to occupation of the property. It will be held by Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents as stakeholders between the parties. This reservation fee is non-refundable except in the circumstances that the landlord changes his/her/their mind about letting the property. If your reference/s is/are rejected by the landlord, the reservation fee will be refunded. The proposed move-in date is subject to receipt of satisfactory references, full cleared funds and approval of the landlord. You have also confirmed that you intend to use the property as your main or only residence, that the detailed information you have given in the referencing form is correct and that you agree to references being taken from the referees, as stated.
6) Taking up references
Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents engage an independent referencing company to perform reference checks. All prospective tenants will be asked to complete an application form. Once the form is submitted, it typically takes 72 to 96 hours to finish the report. In order to avoid any hold-ups in the referencing process, please kindly inform & authorise your landlord, employer, accountant (if any) and personal referee to respond to the referencing company without delay.
7) Tenancy Agreement
After the referencing stage, the tenancy agreement (a legally binding document between the landlord and you) will be drawn up. This agreement must be signed by all tenants and the landlord or Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents on the landlord’s behalf.
7.1) Management Agreement for Residential TENANCIES
Where properties are being let and managed by Star Estate Agents (full property or room by room), in that case, the agreement will be between landlord and managing agent. The managing agent contract will be with tenants.
Where a property has been rented and managed by Star Estate Agents (as an owners estate agent or a representative). If the Landlord would like to give the notice to cancel estate agent services or would like to give notice to our tenant to empty the property, Landlord notice can only apply, as per the agreement terms signed between the estate agent and tenant.
8) Properties with finding tenant and rent collection only
In case landlord wants the tenant(s) to empty the property they must need to inform the estate agent and give notice in writing according to the contract and tenants must vacate the property accordingly.
9) Tenant(s), leaseholder(s) must pay all deposit and rents payments to Star Estate Agents.
9.1) The term “Excluding bills” in the rental/ lease agreement means tenant(s)/leasehold(s) are responsible to pay all kind of utility bills/council tax/business rates, as per the term signed in the agreement.
10) Standing Order Mandate
You will be asked to sign a standing order mandate to make monthly rental payments to the landlord / Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents. If you pay rent directly to your landlord’s bank account and your landlord is not resident in the UK, you will be responsible for applying the provisions of the HM Revenue and Customs Non-Resident Landlords scheme for taxing UK rental income and should ask us for advice on this. This may mean that you have to deduct tax from the rent and pay to HM Revenue and Customs on behalf of your landlord.
11) Initial Payment
The initial payment must be received by Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents as cleared funds prior to possession being given and keys being released and usually consists of the following (Holding Deposit).
12) Holding Deposit
Tenants or purchasers wishing to secure the property will be required to pay a holding deposit to Star Estate Agents and Property Management UK Limited. Making holding deposit also means initial terms have been agreed and if the applicant failed to make rest payment or did not provide further documents within one week time, in order to proceed further or did not reply through communication via telephone or emails or by any other means, holding deposit will be non refundable.
13) Residential/Commercial property deposits payment(s)
Any deposits paid by Star Estate Agents to landlords will need to be returned back to Star Estate Agents (Not to tenants) when the tenant leaves the property in acceptable condition, minus normal wear and tear, as required and defined by state law. The landlord(s) cannot use or count deposits (paid by Star Estate Agents) towards tenant(s) rental payment(s).
14) Commercial Property fees/commission
Where associates at Star Estate Agents carry on the viewing/inspection on behalf of their client (i.e, seller, agreed through to Star Estate Agent via verbal agreement or by written agreement) to the interested parties or applicant(s). If interested parties or applicant(s) approach our client directly without seeking our (Star Estate Agents) permission and bypass the Estate Agents. In that case, if our client (seller) pulls out or doesn’t pay our fees that time buyer is responsible to pay our fees based on the agreed goodwill/premium plus first year rental value of the property) in full as it will be counted as Breaking Protocol to Bypass the Listing Agent from the buyer side. And any holding deposit paid will be forfeited. Our fees are  5% – 7 % (as agreed with seller)  of the agreed goodwill plus first year rent.
14.1) Where a property has been rented and managed by Star Estate Agents (as an owners estate agent or a representative). If the Landlord would like to give the notice to cancel estate agent services or would like to give notice to our tenant to empty the property, Landlord notice can only apply, as per the agreement terms signed between the estate agent and tenant.
15) New Instruction or property management (Residential/Commercial Properties)
Where Landlord/Leaseholder/Subleasholder/Subtenants instructs Star Estate Agents to find a tenant for there existing property/lease/sublease/contract or for their premises, they also authorize Star Estate Agents to carry out marketing of their property and to change locks in order to make sure the premises are secure, without providing advance notice to landlords/leaseholders.
15.1) Where property is being rented and the landlord is getting rent(s) for each month(s), for any lock issues such as broken or damaged lock(s), it is the landlord’s responsibility to fix the lock for their property. If tenants have no access to the property and the landlord does not fix the lock immediately. Any liability or cost raised on this matter will be the landlord’s responsibility.
One month rent in advance
15.2) (Up to 6 months’ rent may be requested if you do not satisfy the income requirements or are unable to provide a satisfactory UK guarantor. In this instance, you will most likely be a student from overseas. Guarantors from overseas are not acceptable. Therefore 6 months’ rent in advance is required and the subsequent monthly rent will be payable from the end of the first month.)
16) For pets, in properties, tenants/applicants must need to inform Star Estate Agents in advance.
17) Check-in service fee (Inventories) when applicable (For landlords only)
17.1) Inventory Fees (Dependent upon the number of bedrooms, ranging from £120 (incl. VAT) for a studio/one bedroom apartment to £156 (incl. VAT) for a four bedroom property. Larger properties will be quoted on an individual basis by the independent inventory clerk. Aborted appointments will be charged at £36 (incl. VAT) + cost. Please ask Star Estate Agents for details.
18) During the tenancy (if applicable)
A renewal document will be applicable if you wish to extend your tenancy.
18.1) Interest charges of 4% above the base lending rate from time to time of Barclays Bank Plc will apply on any amounts owed to the landlord or Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents not paid on the due date.
18.2) In the event that you wish to terminate your tenancy before the end of the term and the landlord is agreeable to early termination, you will be responsible for the repayment of the pro-rata to be paid in advance to estate agents for the unexpired segment of the tenancy. This does not apply if you are exercising a break clause which is contained in your tenancy agreement.
19) Rooms rented out in the properties by Star Estate Agents are still landlord responsibility to maintain and organize HMO on them. On all type of rental and sales properties, it is the landlord’s responsibility to meet and update legal requirements.
20) For residential and commercial properties signed by the tenant(s) and their guarantors, any missed rent payments or any outstanding dues and balances, tenants and their guarantors will be responsible to pay any costs that may arise furthur such as legal or court fees or any recovery or debt collection agency fees plus any other charges associated.
21) Lost keys or fobs
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or another security device (s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or another security device (s)
22) (Where actions of the tenants result in a call out by the agent or nominated contractor attending the property to remedy a situation of the tenants’ making, time to remedy the situation is charged at the prevailing rate)
23) End of tenancy professional cleaning fee (if required)
(Dependent on the size of the property, Prices start from £180 (incl. VAT) for a studio/one bedroom property plus £50 (incl. VAT) for each additional room. In addition, carpet cleaning will be charged at £50 (incl. VAT) per room. Fee will be deducted from the security deposit)
24) Amendments
Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents reserve the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.

_________________________________________________________________________________

Landlord Fees  LEVEL OF SERVICE OFFERED:
————————–   Let-introduction only, Service includes: 
Advising likely rental income
Marketing of property
Interviewing prospective tenants
Arranging the tenancy
Collecting the initial rent and deposit
Deducting any pre-tenancy invoices
Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by Star Estate Agents on the Landlord’s behalf.

 

————————–   Rent-Collection, Service includes:
Advising likely rental income
Marketing of property
Interviewing prospective tenants
Arranging the tenancy
Collecting the initial rent and deposit
Deducting any pre-tenancy invoices
Arranging the inventory and check-in
Handling the deposit on the landlord’s behalf
Collecting the monthly rent
Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by Star Estate Agents on the Landlord’s behalf.
AND
Rent collection fee: 2% of rent due + VAT (2.4% incl. VAT)
————————–   Full Management, Service includes:
Advising likely rental income
Marketing of property
Interviewing prospective tenants
Arranging the tenancy
Collecting the initial rent and deposit
Deducting any pre-tenancy invoices
Arranging the inventory and check-in
Handling the deposit on the landlord’s behalf
Collecting the monthly rent
Updating utility companies and council
Coordinating repairs
Property inspections every half-yearly
Receiving and forward the landlord’s mail
Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by Star Estate Agents on the Landlord’s behalf.
AND
Management fee: 10% of rent due + VAT (12% incl. VAT)

 

————————–              ADDITIONAL NON-OPTIONAL FEES AND CHARGES (FOR RENT-COLLECTION AND FULL MANAGEMENT):
Inventory report cost at the commencement of the tenancy:
Dependent upon the number of bedrooms, ranging from £72 (incl. VAT) for a studio/one bedroom apartment to £108 (incl. VAT) for a four bedroom property. Larger properties will be quoted on an individual basis by the independent inventory clerk. Please note that suppliers’ prices may vary. If a property has extra rooms or rooms which are excessively furnished, suppliers are likely to place additional charges.
Check out the cost:
Dependent upon the number of bedrooms, ranging from £132 (incl. VAT) for a studio/one bedroom apartment to £168 (incl. VAT) for a four bedroom property. Larger properties will be quoted on an individual basis by the independent inventory clerk. Please note that suppliers’ prices may vary. If a property has extra rooms or rooms which are excessively furnished, suppliers are likely to place additional charges.
————————–   Renewal fee: 10% of total receivable rent + VAT (12% incl. VAT) payable upon renewal of the tenancy
(Contract negotiation, amending and updating terms and arranging a further tenancy and agreement)

 

————————–   OPTIONAL FEES AND CHARGES (FOR RENT-COLLECTION AND FULL MANAGEMENT):
a) Key cutting cost: £36 (incl. VAT) plus item cost
b) (Obtaining necessary permissions, sourcing providers and travel costs)
c) Addition property inspection: £72 (incl. VAT)
(To attend for specific requests; more visits are required to monitor the tenancy; or any maintenance-linked visit)
d) Arrangement fee for any works,
For any works or repairs, landlords will be informed in advance with quote prices, and it will be on landlord discretion, whether to continue with works/repairs or not.
AMENDMENTS
Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents reserve the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.

Access to the website, TERMS AND CONDITIONS

Access to the Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents website is confirmation that you have understood and agreed to be bound by all of these terms and conditions.
This website is prepared and issued in the United Kingdom and is intended for the information of United Kingdom residents only. This website is for information purposes only and its content is subject to change without notice.
Nothing on this website shall be deemed to constitute financial advice and in the event that you wish to have any such advice, you should contact a financial advisor.
Disclaimer
Whilst Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents uses all reasonable efforts to ensure that the information published on this website is accurate, current, and complete at the date of publication, no representations or warranties are made (express or implied) as to the accuracy, currency or completeness of such information. Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents cannot accept any responsibility (to the extent permitted by law) for any loss arising directly or indirectly from the use of, or any action taken in reliance on, any information appearing on this website or any other website to which it may be linked.
Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents makes no warranty that this website is free from errors, defects or viruses.
Copyright notice
The entire contents of this website (except the crown copyright location maps) are the property of Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents and are subject to copyright with all rights reserved. You may download or print individual sections of the website for personal use and information only provided that these properly indicate Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents’s copyright and other proprietary notices. You may not reproduce (in whole or in part), modify, decompile, disassemble or transmit or use for any commercial purpose whatsoever any information from this website without Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents’s prior written consent.
E-Mail
There is no guarantee that any e-mail you send will be received by Star Estate Agents and Property Management UK Limited (Company number 11481883) Trading as Star Estate Agents or that the confidentiality of that e-mail will be maintained during internet transmission.
Applicable Law
Any disputes arising from the use of this website shall at all times be governed by the laws of England and Wales and the parties shall submit to the exclusive jurisdiction of the English Courts. International transfers of personal information. As the Internet can be accessed worldwide, if you are visiting the site from outside the UK, your visit will necessarily result in the transfer of information across international borders. By visiting this site and communicating electronically with us you are consenting to these transfers.

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