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ResidentialLettingsTermsofBusiness

ThankyouforyourinterestinourResidentialTermsofBusinessforourLettingsservice.WeofferarangeofservicesandourTermsofBusinessmaydifferslightlyafterwehavediscussedyourrequirements.This opportunity is greatly appreciated and we will endeavor to provide you with the excellentserviceyouaretoexpectfromus.OnourvisittothepropertywewillprovideacompleteValuationFormforyourapproval.Thiswillhavethespecificpropertydetails.Ourfeesstartfrom8%.Thisisaletonlyservice,wealsoprovidefullmanagementatanadditional5%andarangeofservicesinbetween.NB:Ifwedonotrentthepropertyyouwillnotpayanyfee.Wewill carry out the references and Checkin/Inventory Report aswell as protecting the TenantsDepositinanapprovedschemeatnocharge.Therewillbenohiddenfeesinvolved.Once you have approved the Terms of Business we will market the property and begin viewingappointments. Wewillalwaysaccompanytheapplicant,wewillalwayswearshoeprotectorsandwewillalwayssecuretheproperty.OncewehavecompletedtheMarketAppraisalwewillrequireanemailfromyou,theLandlordwiththefollowing:

• AuthorisationletterfromtheLandlordinstructingSPACEtomarketthespecificpropertyandpleaselisttheaddress/es

• Proof of Ownership (Land registry document/s or Mortgage Letter/s or Letter/s for yourSolicitor)

• CopyofPassport• CopyofDrivingLicence(orutilitybill,2ndformofIDwithhomeorbusinessaddressreq.)• Bankdetails–sortcodeandaccountnumbersothatwecantransferthefirstmonthsrent

(oron-goingrent,ifrentcollectionisrequired)OurTermsofBusinessconsistof6pagesdetailingwhatisexpectedandagreedbyyou,theLandlordandSPACE,ourcompany.Should you require a copy of our Lettings Tenancy Contract (Assured Short Hold TenancyAgreement)forreview,pleaseemailyourrequestandwewillprovidethisatthecost.Please note, we protect our relationships and so specific clauses in all the agreements can bearrangedandapprovedinlinewithStatutoryLaw.

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LettingsTermsofBusiness

(6pages)

BycompletingthisformyouareinstructingSPACEAcquisitionsLtdtradingasSPACEtomarketyourproperties.

WemustnotcommencethemarketingofapropertyuntilwearesatisfiedwehavetheLandlordsauthorityandtheTermsofBusinesshavebeenagreed.TheseTermsofBusinesspertaintoallpropertiesownedbyyouandinstructedbyyouforSPACEtomarket.WemustholdasatisfactoryletterofauthorityfromtheLandlordfor each property. In addition to the signed Terms, please provide an email for each property ‘I/We theLandlordauthorizeSPACEtomarketthepropertytheaddressis…’

LandlordInformation

CompanyName:

ContactName:

ContactNumber:

ContactEmail:

LandlordsName:

LandlordAddress:

LandlordsPhone:

LandlordsEmail:

BankName:

SortCode:

AccountNumber:

Conditions:PleasespecifyanyrequestsorconditionsorchangestoourTerms.Thankyou.

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

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LettingsService:

SpaceAcquisitionsLtd, tradingasSPACEwill charge8%of the total rental income for thelengthof theagreement. SPACE isnot currentlyVAT registered, feesdonot includeVATand VAT will not be added to invoices and statements. SPACE commission fee will bedeductedfromthefirstmonth’srentalpaymentifsufficient,butifnot,thebalancewillbepayablebytheLandlordpriortothestartoftheTenancy.TransferredtotheSPACEclient’saccount:BarclaysBusiness.SortCode:20-76-90Account:13078353.Ref:PropertyAddress.LetOnlyServiceprovides:Formal Valuation and Market Appraisal, Photos, Marketing Copy, Online Advertising,AccompaniedViewingAppointments,NegotiatingTermsoftheTenancy,PreparationoftheApplicationofTenancyandTheAssuredShortholdTenancy/Contract,TenantandGuarantorReferencingChecktoincludeapasscertificatewithwww.vanmildert.net,CollectingtheFirstMonths Rent and 5WeeksDeposit from the Tenant prior to the start of theAgreement,Utilities and Council Tax Change-over, All legally compliant paperwork emailed to theLandlordensuringalegallethasbeenundertaken.AdditionalservicestoaddtotheLetOnlyServiceifrequired:(Pleasetick)‘Notick,noadd-on’

o ProtectingthedepositwithTheDepositProtectionCustodialScheme: £40.00www.depositprotection.com

o InventoryReportandCheckOut:Payablewhenthetenantgivesnotice: £195.00

o 4kVirtualTour/ScantoaddtotheonlineMarketingBrochure: from£200

o DroneVideo: from£200

o ProfessionalEndofTenancyCleaningtopriortothemovein: from£90

o RentCollection: 2%pcm

o Management: 5%pcm

o Staging: from£500

o RentGuarantee: from£100SPACEreservestherighttorequesttheco-operationoffellowagentstoassistinmarketingthepropertyatnoadditionalcosttotheLandlord.TheLandlordwouldalwaysbeinformed.

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Inventory,Check-InandCheckoutReports:SPACEwillarrangeaCheck-InInventoryreportandaCheckoutInventoryreportonbehalfoftheLandlordatacosttotheLandlordthatwouldbedependentonthesizeoftheproperty.TheLandlordcanrequestfortheTenanttopayforoneofthereports, it istypical fortheTenanttopayfortheCheck-InandfortheLandlordtopayfortheCheckout.ItisimportantforallLandlordstohavethisreport, itspurposebeingtoprotecttheLandlordagainstanydilapidations,whichmayoccurandcanbeaccuratelyassessedattheendoftheTenancy.Thedetailed reportmustbeagreedwhen the tenantmoves in. This is vital to claimanydepositmoniesifrequired.AdministrationFees:Landlordswillberequiredtopay£120.00forthecostofservingSectionNotices.Landlordswillberequiredtopayforpostage.DepositdisputescanbearrangedbySPACEifthepropertyismanagedatnocharge,ifnotmanaged,achargeof£100.00willbeapplied.Renewals:IftheoriginalTenancyisrenewedorextendedforthesameTenantafurtherchargeof6%oftherentaltermbecomespayabletousattheoutsetofsuchextendedperiod. Thisfeeshouldbepaid inonesumforthetermoftheagreement. Shouldtherenewalbecomeaperiodicagreementthefeewillbecalculatedona12-monthterm.Shouldthetenancyendbeforetheendoftheterm,apro-ratedrefundwillbeapplied.Insurance:Under the terms of a Tenancy Agreement, the Landlord is responsible for insuring thebuildingcontentsincludedintheInventoryReport.TheLandlordmayalsowishtotakeoutLandlordsinsurancetobefullyprotected.SPACEhasselectedAlanBoswellInsuranceBrokers(www.alanboswell.com) to help deliver excellent service in every area. Theywere established in1982 and are a leading independent broker operating from 7 locations and employing over 350insuranceprofessionals.LandlordsInsurance,TenantsContents/LiabilityInsuranceandRentGuaranteeCoverisavailablethroughSPACE.Taxation:UnderSection350ICTA1988,youraccountantTaxofficeshouldbenotifiedofyourlettingsarrangementswhetheryouaredomiciledintheUnitedKingdomorOverseas.ItistheLandlord’sresponsibilitytoadvisetheInlandRevenueoftheRentalIncomereceivedonallproperties.IntheeventthattheLandlordisdomiciledoutsideoftheUnitedKingdomandSPACEmanagestheproperties,SPACEwillretainapercentageofthegrossrentalincometocoveranyoftheLandlordsfuturetaxliabilities.MortgageArrears:Whereaproperty isbeingmortgaged,orheldona long leasehold,consentforthe lettingmustbegrantedinwritingbytheLandlordasanassurancethattheBank,BuildingSocietyorotherMortgageeortheLandlord/Lessoragreestothepropertyofpartofthereforebeing

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sub-let. This action is necessary to ensure that the tenant has a trouble freeoccupancy.ThiswrittenauthoritymustbeavailabletoSPACEatthecommencementoftheletting.CleaningandDecoration:Thepropertyshouldbeprofessionallycleanedpriortothenewtenantmovingin.ApaidinvoicefromtheCleaningCompanyshouldbeprovidedtoSPACE.OnCheck-outitisvitalthatthetenantsleavethepropertyinthesameconditionaswhentheymovedin.Depositcompaniesarebiasedtowardsthetenant,theLandlordisrequiredtoprovideproofofthemoveinconditionoftheproperty.Thepropertyshouldbeingooddecorativeorderbothinsideandout.Asof27thMarch2019theHomes(FitnessforHumanHabitation)Act2018HomesLegislationisinplace.InorderforSPACEtoensurethepropertyishandedbackinthesameconditionaCheck-Inreportisfiledalongwithallinvoicespaidtoprepareforthetenancy.Non-PaymentofRent:ShouldthetenantceasepaymentofRent,SPACEwillnotberesponsibleforanylossofrentforanyreason. RentGuaranteecanbearrangedwithSPACEatanadditionalcost forthetermoftheagreement.Pleaseaskfordetails,pricesarefromjust£100.00peryear.Maintenance:Allappliancesmustbeinworkingorder.AcurrentGasSafetyCertificatemustbeavailablepriortothecheckin.SeetheHowtorentGuideforfurtherinformation.HowtoRentGuideSafetyRegulations:Under section 12 (1) of the Consumer Protection Act 1988, and the Fire and SafetyRegulations1993,itisnowanoffencetosupplyfurniturethatdoesnotpassthe‘cigarettetest’.Thismeans thatall furnishings, loose fittings,permanentof loosecoversmustcarrytheBritishStandardKiteMarkstatingthatthefurnitureisfireresistant.Allpropertiesmustbefittedwithasmokedetectoroneachfloorandacarbonmonoxidealarmclosetothegasappliances. TheannualGas SafetyCertificatemustbegiven to the tenantsprior to theirmoveinandwithin28daysoftheannualtest.HowtoRentGuideGardens:The Landlord must ensure that the garden, paths and entrance etc., are clear and tidy.Tenants will be expected to maintain the garden andmow the lawn. Youmay wish toincludeanumberofGardenerVisitstoyourproperty;SPACEcanarrangethisforyou.Valuables:Wesuggestallvaluablefurniture,antiques,paintingsetc.beremoved,astheTenantmaynothavetheknowledgetotakeadequatecareofthem.Consents:InallsituationstheLandlordisrequiredtoobtainallnecessaryconsentsforviewings,visitsandInspectionsetc.

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Deposits:TheTenantpriortomovingintothepropertywillprovideamaximumof5weeksdeposit.ItisalegalrequirementforLandlordstoprotectthedepositinaregistereddepositprotectionschemewithin 30daysof the tenantpaying thedeposit. SPACE can arrange this for theLandlord. If the Landlord has requested theDeposit, it is the Landlords responsibility toprotectthedeposit,SPACEcannotbeheldliableshouldtheLandlordchoosenottoprotectthedeposit.SPACEusethecustodialschemearrangedwithDPSBysigningthisagreementallLandlordsagreetocomplywiththeLawandwillprotecttheDeposit.TheLandlordwillreimburseSPACEinanyeventachargeorpenaltyisincurredduetotheLandlordfailingtocomplywiththeLaw.ManagementService:SPACEManagement fee is 5% of the rental amount for the term stated in the TenancyAgreementchargedmonthly.SPACEwillcollecttherentfromtheTenantmonthly,deducttheManagementfeeandtransferthebalancetotheLandlordwithin3daysofreceivingtherentpayment.SPACEManagementdepartmentwillcontacttheLandlordwithallTenantissues.SPACEwillarrangemaintenance,repairsandservicingofappliances.ShouldtheLandlordnotrespondto issues with in 48 hours SPACE is authorized by the Landlord to spend up to £300.00withoutwaitingforauthorizationfromtheLandlord. SPACEwillalwaysacttoprotecttheLandlordsinvestment.SPACEwillarrangeinspectionsatnocharge,howeverifareportisrequiredafeeof£100.00willbecharged.Werecommendonereportperyearhalfwaythroughthecontract.AthirdpartyInventoryCompanywillcarrythisout. Thispricemayvarydependingonthesizeoftheproperty.If forany reasona solicitormustbe instructed, it is theLandlords responsibility todo so.SPACEcanrecommendreputablecompaniesandcanassistwillalltherelevantpaperworkrequired.SPACEalsooffersbespokeManagementpackagesfortheoverseas(orunable)Landlord.Should thepropertybevacant foranyreasonSPACEcancarryour inspectionsata feeof£100.00pervisit.SPACEcannotbeheldresponsibleforanydamagetothepropertyduringanytimethepropertyisvacant. It is importanttonotifytheinsurancecompanywhenthepropertyisempty.RightofTermination:SPACE and the Landlord has the right to terminate the agreement giving either party 38dayswrittennotice.

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Sales:ShouldtheSalesofthePropertybeagreedwiththeTenantthathasbeenplacedbySPACE,thelandlordagreestotheentitledcommissionfeeof0.75%ofthesaleprice.ThePropertyOmbudsman:SPACE is amember of TP0 (The Property Ombudsman) and TSI (Approved Code TradingStandardsUK)wearecommitted toprovidingaprofessional service toallourclientsandcustomers.If somethinggoeswrong,weneedyou to tellusabout it. Thiswillhelpus toimprove our standards. If you have a complaint, please put it in writing andemailinfo@space-acq.comincludingasmuchdetailaspossible.Wewillthenrespond.Wewanttoprotectourrelationshipwithourclients.PrivacyGDPR:Weprioritisekeepingyourpersonaldatasafe,ourprivacypolicycanbefoundwww.space-acq.comandinlinewiththedataprotectionregulationsintroducedon25thMay2018calledGDPR.Wewillnotprovideanofourclientsdetailstoanyoneorcompanywithoutthedirectconsentofourclients.Pleaseticktheapplicableparagraph:

o IamaUKLandlord;I/WeconfirmthatI/WearedomiciledintheUnitedKingdomforthepurposesofPaymentofUKIncomeTaxandthattheLandlordonthisagreementisresponsiblefortheUKIncomeTax.

o I am an Overseas Landlord; I/We confirm that I/We are domiciled in outside theUnited Kingdom for the purposes of Payment of UK Income Tax and that theLandlordonthisagreementisresponsiblefortheUKIncomeTax.

Landlord Witness Signature …………………………………………………………

Signature ……………………………………………………………

FullName: ………………………………………………………… FullName: ……………………………………………………………

Date: ………………………………………………………… Date: …………………………………………………………… SPACE Witness Signature: …………………………………………………………

Signature: ……………………………………………………………

FullName: ……………………………………………………………

FullName: ……………………………………………………………

Date: …………………………………………………………… Date: ……………………………………………………………