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Should you wish to purchase a property to let, we can source a suitable property on your behalf, impartially through either our sales colleagues at jdm or other agents, to secure you the best prospect of regular and reliable letting. We can also arrange refurbishment and furnishing as required.
Our fee for the purchasing service is 1% (+VAT) of the purchase price and refurbishment and furnishing arrangement is charged at 10% of the cost of works and purchases.
jdm can also arrange a mortgage with one of the many lenders now offering specialist products for property investors, together with all insurance required.
Please call us to discuss further details.
TENANCY DEPOSIT SCHEME – ALTERNATIVE DISPUTE RESOLUTION FOR DEPOSIT DISPUTES
jdm Lettings Ltd is a member of the Tenancy Deposit Scheme,which is administered by:
The Dispute Service Ltd
PO Box 541
Tel: 0845 226 7837
Fax: 01494 431 123
The terms of the scheme are as follows:-
If we are instructed by you to hold the Deposit, we shall do so under the terms of the Tenancy Deposit Scheme.
The Agent holds tenancy deposits as Stakeholder (if not already specified within the Tenancy Agreement).
2. At the End of the Tenancy Covered by The Tenancy Deposit Scheme
If there is no dispute we will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the Landlord, or repay the whole or the balance of the Deposit according to the conditions of the Tenancy Agreement with the Landlord and the Tenant. Payment of the Deposit will be made within 10 days of written consent from both parties.
If, after 10 working days following notification of a dispute to the agent and reasonable attempts have been made in that time to resolve any differences of opinion, there remains an unresolved dispute between the Landlord and the Tenant over the allocation of the Deposit, it will (subject to 2c below) be submitted to the ICE for adjudication. All parties agree to co-operate with any adjudication.
When the amount in dispute is over £5,000, the Landlord and the Tenant will agree by signing the Tenancy Agreement to submit the dispute to formal arbitration through the engagement of an arbitrator appointed by the ICE although, with the written consent of parties, the ICE may at his discretion accept the dispute for adjudication. The appointment of an arbitrator will incur an administration fee, to be fixed by the Board of The Dispute Service Ltd from time to time, shared equally between the Landlord and the Tenant. The liability for any subsequent costs will be dependent upon the award made by the arbitrator.
The statutory rights of either you or the Tenant to take legal action against the other party remain unaffected.
It is not compulsory for the parties to refer the dispute to the ICE for adjudication. The parties may, if either party chooses to do so, seek the decision of the Court. However, this process may take longer and may incur further costs. Judges may, because it is a condition of the Tenancy Agreement signed by both parties, refer the dispute back to the ICE for adjudication. If the parties do agree that the dispute should be resolved by the ICE, they must accept the decision of the ICE as final and binding.
If there is a dispute, we must remit to The Dispute Service Ltd the full deposit, less any amounts already agreed by the parties and paid over to them. This must be done within 10 working days of being told that a dispute has been registered whether or not you or we want to contest it. Failure to do so will not delay the adjudication, but The dispute Service Ltd will take appropriate action to recover the deposit and discipline us.
We must co-operate with the ICE in the adjudication of the dispute and follow any recommendations concerning the method of the resolution of the dispute.
3. Incorrect Information
If the Landlord warrants that all the information he has provided to the Agent is correct to the best of his knowledge and belief. In the event that the Landlord provides incorrect information to the Agent which causes the Agent to suffer loss or causes legal proceedings to be taken, the Landlord agrees to reimburse and compensate the Agent for all losses suffered.
4. If you decide to hold the Deposit and the Tenancy is an Assured Shorthold Tenancy, you must specify to us prior to the start of the Tenancy under which other Tenancy Deposit Protection Scheme the Deposit will be covered. If the Deposit is covered by Tenancy Deposit Solutions, you must provide proof of membership, together with a copy of the insurance policy before the Deposit can be released. If the Deposit is to be sent to the custodial scheme known as the Deposit Protection Scheme, we will forward the Deposit to the DPS and register the details of the Tenancy on your behalf OR give you a cheque for the amount of the Deposit made payable to the Deposit Protection Scheme for you to forward within nine days.
FCC PARAGON RENT PROTECTION & LEGAL EXPENSES WARRANTY
We offer to arrange cover on your behalf, on request, for loss of rent and legal expenses. This is provided by the company who undertake our tenant referencing, and is subject to obtaining satisfactory references. The terms of warranty are as follows:
The landlord, or managing agent acting on their behalf, must ensure that the following procedures are adhered to. They must:
a) not allow a tenant into possession of the property other than on the basis of an already completed written tenancy agreement duly signed by all parties;
b) be based on one of the following: an assured shorthold tenancy, a short assured tenancy; or an assured tenancy. These are all defined by the housing Act 1988 or the Housing (Scotland) Act 1988.
c) not allow any tenant into occupation until the first month’s rent and dilapidation deposit payment has been paid in cash or payment has been cleared in the landlord’s or managing agent’s bank account;
d) ensure all tenants are fully referenced and successfully pass the referencing procedure.
Benefit will not be paid in respect of any claim:
a) if the commencement date of the Rent Protection and Legal Expenses Warranty contract is after the tenancy start date, if so the first 90 days of the contract will not protect against any events occurring within this time;
b) where the landlord or managing agent acting on their behalf fails to provide evidence or information reasonably required by FCC Paragon;
c) which is notified to FCC Paragon more than 31 days after non-payment of rent;
d) where the amount in dispute is less than £250.00;
e) the first month’s unpaid rent;
Rent Protection Warranty Cover
Monthly rent will be paid in respect of arrears of rent owed on the Landlords property covered by FCC Paragon’s Rent Protection and Legal Expenses Warranty contract for up to 6/12 months or until vacant possession has been gained, whichever happens soonest.
A 6/12 month policy shall pay out for no more than a maximum of 5 months rent arrears in any one claim.
Legal expenses authorised/incurred by FCC Paragon, including court costs, to obtain vacant possession after non-payment of rent are included in the benefits provided by FCC Paragon Rent Protection & Legal Expenses Warranty.
In the case of Rent Protection and Legal Expenses Warranty amounts payable will not exceed £15,000 which is the maximum cover under this contact.
Alteration of Contract
The landlord or managing agent acting on their behalf shall notify FCC Paragon as soon as they become aware of any alteration in risk which may affect the Rent Protection and Legal Expenses Warranty contract. The landlord or managing agent acting on their behalf may be required to pay an additional premium to FCC Paragon.
If the rent is overdue the tenant and guarantor must be contacted within 7 days to find out why it has not been paid. If rent remains overdue, within 14 days the tenant and guarantor must be contacted again (If applicable at the place of work).
Where the landlord or managing agent acting on their behalf becomes aware of an existing or potential claim under any parts of the Rent Protection and Legal Expenses Warranty contract the landlord or managing agent acting on their behalf shall notify FCC Paragon promptly and forward a fully completed claim form which is to be received no more than 31 days after the rent was due.
a) FCC Paragon will negotiate any claim for the landlord or managing acting on their behalf.
b) FCC Paragon will appoint an appointed lawyer.
c) The appointed lawyer will be secured by FCC Paragon and represent the landlord or managing agent acting on their behalf according to our standard terms of appointment.
d) FCC Paragon will have direct contact with the appointed lawyer.
e) The landlord or managing agent acting on their behalf must co-operate fully with FCC Paragon and with the appointed lawyer.
f) The landlord or managing agent acting on their behalf must give the appointed lawyer any instructions that FCC Paragon ask for.
g) The landlord or managing agent acting on their behalf must tell us if anyone offers to settle a claim.
h) If the landlord or managing agent acting on their behalf do not accept a reasonable offer to settle a claim, FCC Paragon may refuse to pay further legal costs.
i) The landlord or managing agent acting on their behalf must not negotiate or agree to settle a claim without approval from FCC Paragon.
j) If FCC Paragon require, the landlord or managing agent acting on their behalf must tell the appointed lawyer to have legal costs taxed, assessed or audited.
k) The landlord or managing agent acting on their behalf must take every step to recover legal costs that FCC Paragon have to pay and must pay FCC Paragon any legal costs that are recovered.
l) If the appointed lawyer refuses to continue acting for the landlord or managing agent or if the landlord or managing agent acting on their behalf dismiss the appointed lawyer, the FCC Paragon Warranty will end at once, unless FCC Paragon agree to appoint another appointed lawyer.
m) Warranted benefits will be withheld if the landlord or managing agent acting on their behalf acts without the consent or contrary to the advice of FCC Paragon.
n) If benefits are paid out in respect of rent arrears and subsequent payments are received from the tenant, these payments must be forwarded to FCC Paragon without fail.
o) At any time during a rent arrears claim FCC Paragon may request proof that the property is still occupied and vacant possession has not been gained.
p) If you have not received a contract schedule or paid in full within the terms and conditions, the warranty will not be in force. If you do not receive confirmation of cover within 10 days of inception/renewal you must contact us immediately.
The landlord or Managing Agent acting on their behalf, may cancel the warranty at any time by giving 14 days notice in writing. FCC Paragon may cancel the warranty contract at any time giving notice in writing to the Landlord or Managing Agent.
The contract will terminate on the earliest of the following events;
a) The end of the term
b) The landlord or managing agent acting on their behalf fails to pay the relevant premium when due
Notifications of a claim will not be accepted if the date of non-payment of rent is after the termination of the Rent Protection and Legal Expenses Warranty contract.
If the landlord or managing agent acting on their behalf does not keep to the terms of the Rent Protection and Legal Expenses Warranty contract they will not be entitled to any benefit.
Terms of Cover
For cover to continue under the Rent Protection and Legal Expenses Warranty contract the landlord or managing agent acting on their behalf must keep up to date clear rental records.
The Rent Protection and Legal Expenses Warranty contract will be withheld if the landlord or managing agent acting on their behalf acts without consent or contrary to the advice of FCC Paragon.
The Rent Protection and Legal Expenses Warranty contract will not provide cover for any pre-existing events, which would give rise to a claim.
For the avoidance of doubt, FCC Paragon’s 6/12 month Rent Protection and Legal Expenses Warranty contract is in support of the quality of FCC Paragon Referencing – they are not contracts of insurance and any benefits provided are at the sole discretion of FCC Paragon.
All benefits from the Rent Protection and Legal Expenses Warranty contract will cease once vacant possession has been obtained.
It is always our intention to provide a first class standard of service however, if you do have cause for complaint, you should contact FCC Paragon in writing;
4/5 The Briars
Hampshire, PO7 7YH
If the matter is not resolved to your satisfaction, please write to;
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London, E14 9SR