SMILE Posted March 30, 2006 Report Share Posted March 30, 2006 Hi all, Hope everyone is having a better day than me Oh well, here goes I'm still in the middle of trying to understand a company let agreement that I will be signing shortly if I'm happy with it all and of course understand what I'm signing....I'm very new to this game ! I will be asking my managing agent to answer some queries ...but would just like some expert advice from my fellow more experienced landlords ! - those that truly care !!!! and probably know exactly how I am feeling right now....!!! Please can anyone explain to me what the following two clauses mean in VERY SIMPLY ENGLISH...I'm confused ! 1) In this Agreement unless the context otherwise requires the following expressions shall have the following meanings : "THE LANDLORD" includes the persons for the time being entitled to the reversion expectant on determination of the tenancy. "THE TENANT" includes the successors in title 2) The Landlord agrees with the Tenant that : i) The Landlord will return to the Tenant any Rent payable for any period during which the property may have been rendered uninhabitable by fire or any other risk which the landlord has insured ..... I can sort of understand this clause, but surely it would be different if the property fire was because of the tenant's negligence ???? Do you think I should request an extra clause to be added to this to protect me ? I hope to be covered for fire but I understand that they only pay a percentage of the rental lost due to fire and I always thought that money went to the landlord.....??? HELP....I've had v little sleep trying to sort this out and my brain is totally boggled at the moment....!!! I would really appreciate your advice regarding this matter...ANYONE Link to comment Share on other sites More sharing options...
tony_ mort Posted April 2, 2006 Report Share Posted April 2, 2006 Very Simple English (I hope)! 1) Unless we say otherwise this is what we mean: 'The Landlord' is the bloke that would get the keys back if the tenancy stopped today. [Reversion means it reverts to however it was before the tenancy was granted. Determination means the ending (think 'the termination').] 'The Tenant' includes anyone who may be legally entitled to take on the tenancy when they die. I.E. No One. 2) If the place burns down, the limit of the landlord's responsibility (excluding any claim for negligence), is to repay any rent prepaid by the tenant. Provided your agent is happy, and the tenant seems OK, then just go back to counting sheep, not problems. Link to comment Share on other sites More sharing options...
SMILE Posted April 2, 2006 Author Report Share Posted April 2, 2006 Hey THANKS VERY MUCH for your replies. I LOVE this website....it is soooo helpful....by the way tony ....I'm a woman not a bloke lol !!!! but cheers for the advice MUCH APPRECIATED ......I will try to go to sleep soon I promise but having LOADS of problems with my Managing Agent before we even begin....Ie Very poor communication, not happy to sit down with me and explain my rights / obligations as a landlord, not calling me back when requested...before we even begin !, and now I've just found out that they have sent my prospective agreed tenant on another viewing to see another house !!!! YOURS NOT HAPPY !!!!!and wondering if I should even start down this road ....!!!!! Link to comment Share on other sites More sharing options...
tony_ mort Posted April 3, 2006 Report Share Posted April 3, 2006 Sorry about the gender change!! If you are having trouble with your agent this early on, it may be worth thinking about changing. It's not like selling a house: you have to trust the agent to liaise between landlady(!) and tenant and to work for your interests for a period of months, if not years. Also it's best to go with one that is registered with a professional body e.g. ARLA., and preferably are not a one man band. http://www.odpm.gov.uk/index.asp?id=1151894 This link is to the ODPM publications page - it will give you a lot of information on rights and duties of landlords (and landladies). Good luck, Tony Link to comment Share on other sites More sharing options...
SMILE Posted April 3, 2006 Author Report Share Posted April 3, 2006 THANKS again Tony, I will be ditching the agent later on this afternoon as I have found out that they have omitted to tell me the truth about some references which they did on my behalf....I have found out that they did pass the reference checking procedure but only if they gave six months rent up front.....which the company agreed to do....The agency omitted to tell me about them getting six months up front !!!! (keeping it for themselves obviously!!!) .....instead they just said that the company passed the reference checking ...and its only when I've started asking some digging questions ...and told them I had a number of issues that needed to be answered in writing and put in the contract.....ie I need a copy of the reference and proof of the rent guarantee they promised me.......they then started pushing me to make a decision and telling me if I don't act quick I will lose the tenant....! Well I'm happy to lose them and the agent too... This so called Managing Agent is a member of ARLA !!!!!!!! but I wouldnt deal or ever trust them again. I have given my house details to another agent and a couple of months ago, they had a similar situation whereby the applicant had a CCJ but at least they had the decency to TELL ME THE TRUTH ! and let me decide whether to take the risk or not or gave me the option to ask for more money up front. !!! I've learnt a BIG lesson here, I was being made to feel guilty from the agent for asking so many questions and to be honest I was beginning to think I was paranoid and worrying far too much.....BUT NO WAY...I WAS RIGHT ....I thought I could smell a rat....and I did. Oh well, sorry for that...needed to get it off my chest !!!!! Thanks again for your advice though...... * I'm now seriously considering selling my house or if I do rent out, I will be going to the agent with a long list of MY requirements and clauses I would like to be put in the tenancy agreement which suit my needs / situation..... and if they can't agree to it ...then I won't be going ahead simple..... I'm all for protecting the tenant,,...its important but it is EQUALLY as important that us landlords/ladies protect out investments that we have worked so hard to get in the first place !!!!! Right getting off my high horse and getting on with some work now ... Bye !!! Link to comment Share on other sites More sharing options...
Adam Posted April 3, 2006 Report Share Posted April 3, 2006 Hello Smile,my advice would be to forget letting agents and do it yourself,its a bit more hassle but you remain in control.Cheers Adam.(good luck) Link to comment Share on other sites More sharing options...
Trenners Posted April 4, 2006 Report Share Posted April 4, 2006 Hello Smile, I totally agree with Adam ..... ditch the letting agents and do it yourself. Letting agents add very little value - which is why every letting agent tells you that you need them (when in fact you do not). Who will take better care of your property - YOU or a lowly paid Letting Clerk ? Link to comment Share on other sites More sharing options...
Trojan Posted June 2, 2006 Report Share Posted June 2, 2006 Trenners, Some of us agents care about our clients & their investments, their success is our success and vice versa. We fill a gap where people either lack confidence, technical knowledge or time. Forget ARLA, NAEA simply ask around in your town or area. Reputation means so much more. After 13 years we still survive on our reputation and after 13 years we still understand that there is no room for complaisancy. There is still value for money for some people using agents; after all, boards such as this are littered with people having problems with tenants that could have been resolved with a good knowledgeable agent. And finally, our fees are allowable expenses as far as IR as concerned. Link to comment Share on other sites More sharing options...
SMILE Posted June 2, 2006 Author Report Share Posted June 2, 2006 Hi there I couldn't help but add my bit on this one.......I have given 6 letting agents the opportunity to market and let out my property and to be honest not one of them has really 'shined' with regards to 'value for money' and QUALITY of service. I honestly believe that there are some very rare good letting agents that probably do really care (NOT MET ONE YET THOUGH) but in the last six months I can hand on heart say six out of the six I dealt with are all looking for a quick way to make money for themselves.......as a main priority.....AND caring for the client is just a speech to get you on their books. I have been in the service industry at a very high level for twenty years so I guess I know what to look for and have high expectations but Letting Agents charge a high fee so I would expect at least A VERY GOOD LEVEL of service. I agree it must be hard for some Letting Agents (those that do really care) to survive with all the others severely letting the side down) I suppose if I was going abroad I would have to use a letting agent.....for managing the property ..... Ref the help on the legal side, I have found this site far more helpful than any of the six agents put together so I have decided that the money I save on managing the property myself will be money well saved and IF this site can't help me in the future with any problems ...I will have saved £130 a month towards any solicitors fees I might need to pay for....I have heard of LOTS of people using letting agents (paying them GOOD MONEY) and still having to employ a solicitor to help them evict the tenant !!! Sorry , just felt like I needed to say this...as I've been living sleeping eating this whole subject for the last six months. Good luck to the good letting agents though.......IT MUST BE HARD! Link to comment Share on other sites More sharing options...
SMILE Posted June 2, 2006 Author Report Share Posted June 2, 2006 MESSAGE FOR TROJAN I just wanted to add that you have been PARTICULARLY helpful to me Trojan on this website and if you were in my part of the country I would definately consider employing you as my Letting Agent because the advice received would be money well spent and I would feel confident that you would help me if I had a problem...rather than run away....... !! Thanks for all your help so far...it is much appreciated. Link to comment Share on other sites More sharing options...
Trojan Posted June 3, 2006 Report Share Posted June 3, 2006 Thank you SMILE Link to comment Share on other sites More sharing options...
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