RentiD Letting Agency Agreement
Between RentiD Limited (‘’RentiD’’)
The Landlord / Property Manager (The Client(s))
TERMS OF SERVICE, INSTRUCTIONS AND CONDITIONS OF BUSINESS, FEES AND EXPENSES
In accordance with the Estate Agents Act 1979, this document is to be read entirely including RentiD Terms and Conditions on our website.
TERMS AND CONDITIONS – updated 05.02.2021
RentiD Manage 60 Day Free Trial Offer
RentiD offer Landlords and Property Managers 60 days free access (from the point of registration and account creation) to RentiD Manage. Payment card details are not required to activate trial accounts. This offer is available to the first 500 property units registered by any users as of 05.02.2021 on a first come, first served basis. RentiD then reserve the right to extend or discontinue this offer.
Subscription to RentiD Manage and Manage Plus
By subscribing to RentiD Manage and Manage Plus you are also purchasing a minimum 12-month subscription to our platform which is payable annually in advance. Subscription to RentiD is per property unit i.e. house, flat or room in an HMO property. Renewal of your subscription will be automatic and also payable annually in advance. Unless you have notified RentiD in writing 30 days before the end of your current subscription term your subscription will continue to renew year on year.
RentiD Tenant Find and Tenant Find Ultimate
Any purchase or RentiD Tenant Find or Tenant Find Ultimate comes inclusive of a 12 months subscription to RentiD Manage. RentiD Tenant Find and Tenant Find Ultimate users can upgrade to RentiD Manage Plus with its additional features at any time.
Current prices and all services included in RentiD Manage, Manage Plus, Tenant Find and Tenant Find Ultimate are available on our website www.rentid.co.uk
Please speak to a member of our team for specific and additional terms relating to RentiD Pro.
Terms for RentiD Manage, Manage Plus, Tenant Find and Tenant Find Ultimate
I/We ‘The Client(s)’ Understand and Agree:
RentiD are able to request a market appraisal of your property in order to be able to set the correct rental. You are also welcome to speak to one of our experienced Property Managers as they can also advise on matters relating to successfully renting your property to the right Tenant.
RentiD are able to upload your property information including images, floorplan and descriptions which can be marketed to Rightmove, Zoopla and other portals RentiD have available (requires purchase of RentiD Tenant Find or Tenant Find Ultimate).
RentiD may erect a to let and let by board at our discretion.
The Client remains responsible for conducting their own viewings, selecting the correct Tenant and deciding on the terms of the offer/tenancy which they can input onto the platform when beginning the Start of Tenancy Assistant process. RentiD can arrange accompanied viewings (at an additional cost starting from £42 incl. VAT for 30 minutes).
RentiD can arrange for a credit reference agency to take up references where appropriate (Inclusive with RentiD Tenant Find Ultimate for up to 2 Tenants and 2 Guarantors. If any other subscription is chosen, tenant referencing fees are chargeable). RentiD’s Tenant Referencing is comprehensive, includes Right To Rent checks and costs £36 incl. VAT per tenant. RentiD’s referencing must be used if the Landlord or Property Manager also wishes to purchase Rent Guarantee or Eviction Cover policies through RentiD and enable their Tenants to purchase Nil Deposit policies through RentiD.
The drafting, signing and distribution of legally compliant Tenancy Agreements to all relevant parties is ultimately the responsibility of the Landlord or Property Manager although RentiD will prepare and execute an Assured Shorthold Tenancy agreement as an inclusive part of RentiD Tenant Find or Tenant Find Ultimate.
Registering deposits with one of the official government backed tenancy deposit schemes and providing proof of registration to Tenants is the responsibility of the Landlord or Property Manager. However, RentiD can facilitate deposit registration with TDS Custodial and the serving of prescribed information to all parties for a charge of £20 incl. VAT
Serving lawful Notices is the responsibility of the Landlord or Property Manager.
Rent collection is the responsibility of the Landlord or Property Manager. In the case of Landlords or Property Managers who have purchased Tenant Find Ultimate, RentiD will be responsible for the collection of move-in monies (deposit and first month’s rent in advance) prior to the move-in date. If the Landlord or Property Manager is subscribed to RentiD Manage Plus, these move-in monies will be depositing into the Digital Wallet assigned to the property. It will then be the responsibility of the Landlord or Property Manager to transfer these funds to a tenancy deposit scheme and their external, nominated bank account. If the Landlord or Property Manager is subscribed to RentiD Manage, these move-in monies will be depositing into RentiD’s designated Client Money Account protected by the Money Shield Client Money Protection scheme and remitted to the Landlord or Property Manager’s nominal bank account within 3 working days once cleared funds are received.
RentiD do not withhold tax for overseas Client(s) and they will remain responsible for their own tax.
RentiD can arrange quarterly property visits at The Client(s) request (subject to an additional fee).
RentiD will notify service companies (excluding telephone provider) of a user change at the commencement and termination of any Tenancy if instructed to do so but RentiD cannot be held responsible for changing the names on utilities if the Landlord and Tenants have not advised the names and addresses of the utility suppliers.
RentiD will not be liable for the management (including payment of bills), protection or security of any property before it is let or at the termination of a Tenancy or if unlet between tenancies.
It is the Client(s) responsibility to register with the Information Commissioners Office (ICO) and pay any relevant data protection fees. Landlords are classified as both businesses and data controllers in the eyes of General Data Protection Regulation (GDPR) which forms part of the amended Data Protection Act 2018. In practice there is not likely to be any exemption from registering with the ICO and paying the required fee as most if not all landlords will process data via their mobile telephones, tablets or PCs – including via the RentiD Digital Assistant.
It is the Client(s) responsibility:
• to ensure that all Gas and Electrical Installations, pipework, flues and appliances in the property are safe at all times, to comply with The Gas Safety (Installation & Use) 1994 and The Electrical Equipment (Safety) Regulations 1994 and to ensure that any electrician carrying out electrical work at the property is part of an approved scheme.
• to comply with The Furniture and Furnishings Regulations (FIRE) (SAFETY) Regulations 1988 (as amended)
• to fit smoke detectors where necessary throughout the property
• To provide an EPC (Energy Performance Certificate) with a minimum rating of ‘E’
• To maintain and provide an asbestos management register for the property, unless it is confirmed that the property was constructed without asbestos containing materials.
• to ensure that an annual maintenance contract is in place for all electric gates
• to ensure that swimming pools or ponds are securely fenced or fitted with security covers in the interest of Tenant safety and to minimise the risk of accidents
• From 1st June 2020 in accordance with The Electrical Safety Standards in the Private Rental Sector (England) Regulation 2020, provide a valid EICR certificate
RentiD cannot be held responsible for injury to persons or property arising out of the condition of the property or any hazard in or about the property.
The Client(s) confirm that RentiD have permission to maintain the property as stated in the Tenancy Agreement subject to the provisions of Section 11 of the Landlord & Tenant Act 1985 as amended by Section 116 of the Housing Act 1988, or any revision modification or reenactment thereof in relation to the Landlord’s 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.
Landlord or Property Manager (The Client(s)) will enter into an agreement for the sum of £300 for pre-authorised emergency call out charges that may be automatically triggered outside of offices hours (Mon to Fri 9.00 to 5.30pm excl. Bank Holidays) in the cases of ‘threat to life’ tenant reported emergencies including major floods, leaks, main entry door lock-outs and in the case of vulnerable tenants. This service is administered by the AXA Partners network on behalf of RentiD. If a Client has their own emergency call-out plan, they may opt-out of this service by writing to RentiD’s Customer Experience team at firstname.lastname@example.org or speaking to their RentiD contact when signing-up.
Landlord or Property Manager (The Client(s)) are to manage their own maintenance and repairs either periodic or once brought to their attention by tenants. If RentiD oversee maintenance and repairs, RentiD reserve the right to charge The Clients a 10% administration fee against the agreed cost of works.
The Client(s) undertakes to keep RentiD fully and effectively indemnified in respect of any proper claim, demand, liability, cost and expense relating to the property or outgoings in respect thereof and in respect of any costs, charges or expenses incurred by RentiD in relation to any claim by RentiD under or in relation to these Terms.
HOUSES IN MULTIPLE OCCUPATION (HMO)
Client(s) using RentiD services to manage HMO properties must provide RentiD with a valid council issued HMO licence within 10 working days or prior to marketing the property whichever is the sooner.
It is the Client(s) responsibility to comply with the additional fire and electrical safety and maintenance and upkeep standards applicable to HMO properties. RentiD accept no liability for an HMO Client’s failure to comply with their responsibilities.
ENTITLEMENT TO LET
By signing these Terms and Conditions you warrant to us that you are the owner of the Premises, or otherwise lawfully entitled to enter into the Tenancy Agreement. You may be asked to provide us with sufficient documentary evidence to satisfy us and the Tenant that you are legally entitled to grant a Tenancy of the Premises.
The Client(s) undertakes to inform RentiD of any change in his/her residency.
If the Premises are subject to a mortgage, you will need your Lenders written consent to the proposed letting.
By signing this Agreement you confirm that you have your Lender’s consent to grant a Tenancy. Your Lender may want to see a copy of the Tenancy Agreement which can be supplied upon written request. Your Lender may charge you a fee for giving their permission. If your mortgage has any special conditions relating to the Tenancy or type of Tenant you must provide them to us prior to the start of the Tenancy to be included within the Tenancy Agreement. Conditions cannot be imposed upon a Tenant at a later date.
If you are a Leaseholder, you will normally require the consent from your Superior Landlord, freeholder or their managing agent before you can sublet the Premises to an applicant. In giving consent the Superior Landlord or their managing agent may require you to provide references for your Tenant and for you and your Tenant to enter into a licence to underlet to directly covenant with the Superior Landlord to observe the covenants contained in your Head Lease and the Tenancy at Will. The Superior Landlord may may be charge a fee for granting consent to sublet and require its legal and other professional fees to be paid as a condition of granting their consent which, is your liability and for the licence granted prior to the start of the Tenancy and upon renewal. RentiD will need a copy of the relevant sections of the Head Lease together with any schedules referred to therein so that RentiD can attach a copy of this to the Tenancy Agreement. If the Tenant is not given a copy of the relevant sections of the Head Lease you cannot impose any obligations contained in it upon the Tenant. This could lead you to breach the Terms of your Lease.
It is essential that the Premises and the contents included in the Inventory and Schedule of Condition are adequately insured and that your insurers are aware that the Premises are let. Failure to do so may invalidate your insurance. You must inform your insurers whenever the Premises remain vacant for a period greater than specified in your insurance policy. You should also check that your insurance policies include third party liability to protect you if the Tenant or a visitor to the Premises is injured. You must give us copies of the relevant sections of the policies to attach to the Tenancy Agreement at the start of the Tenancy, including any conditions for vacant premises. If these are not given to the Tenant the Tenant has no obligation to comply, which could be breach of your insurance contract rendering any claim void. RentiD cannot be responsible for the renewal of your insurance cover.
ENTITLEMENT TO GO TO MARKET
All properties going on the market for letting must have an EPC with a minimum rating of ‘E’. A copy must be given to the Tenant with written details or prior to the first viewing. The Landlord must provide us with an EPC when first giving instructions. The Premises cannot be marketed without an EPC. RentiD can arrange an EPC at a charge of £99 incl VAT. RentiD shall not be liable (either directly or indirectly) for any deficiency, loss or damage to the property, its fixtures and fittings and contents whether included in the inventory or not or for the negligence of our servants or agents in relation to the said property.
RentiD require all properties to be marketed with floorplans and photography of suitable quality. These are included with RentiD Tenant Find UItimate. Otherwise eight professional photographs and floorplans are available from RentiD for a combined cost of £144 incl. VAT.
DEPOSIT AND RENT PAYMENT AND TRACKING FUNCTIONALITY OF THE RENTID DIGITAL ASSISTANT APP – AVAILABLE AS PART OF RENTID MANAGE PLUS
1. Each property subscribed to RentiD is assigned a Lettspay Digital Wallet accessible via the RentiD Digital Assistant app. Each Digital Wallet acts like a designated client money account.
2. Responsibility for funds held within the Digital Wallets and their transference to external bank accounts lies with you (the Landlord or Property Manager – owner of the RentiD subscription).
3. It is the responsibility of the Landlord or Property Manager that any Holding Deposits taken to reserve a property whilst reference checks and other pre-tenancy administration is undertaken complies with our Holding Deposit terms below.
4. It is the responsibility of the Landlord or Property Manager that any deposits taken for any Assured Shorthold Tenancy or ‘replacement’ tenancy as facilitated by the RentiD Digital Assistant app or otherwise must be registered with a Government approved Tenancy Deposit Scheme duly authorised under the Housing Act 2004 (England and Wales) and complies with our Tenancy Deposit terms below.
5. RentiD exercise read only access for administrative/monitoring purposes (i.e. to check adherence to point 8 below) do not move the funds contained therein or set-up payees.
6. Whilst in the Digital Wallet, funds are dedicated to the Landlord or Property Manager via Lettspay who are an agent of Modulr FS, licenced with the FCA as an eMoney payment institution. If either RentiD, Lettspay or Modulr become insolvent, all funds are immediately disbursed to the external bank account of the Landlord or Property Manager who own the RentiD subscription.
7. Modulr FS although FCA regulated are not a bank, so funds are not protected by the Financial Services Compensation Scheme (FSCS).
8. Consequently, RentiD recommend Lettspay Digital Wallets are not treated like a deposit account. Funds should be transferred from Lettspay Digital Wallets to your external bank account on a regular basis.
9. Direct Debit payments are handled on behalf of Lettspay by London & Zurich, a Direct Debit collection and processing service who are licenced by Bacs.
10. Lettspay is the trading name of Hanley Payments Ltd, register in England no. 11575233.
HOLDING DEPOSIT TERMS
1. For tenancies falling within the scope of the Tenant Fees Act 201913 entered into after 1 June 2019, subject to the obligations set out in this section, you (The Landlord or Property Manager) may take a holding deposit from the tenant to reserve a property whilst reference checks and other pre-tenancy administration is undertaken. If you feel the tenant is unsuitable to rent the property (such as meeting your income and credit worthiness requirements) you must not take a holding deposit from them.
2. You must explain in writing (for example via the Secure Messenger within the RentiD Digital Assistant app) the purpose of the holding deposit before a tenant is committed to paying. This must clearly state the amount of the holding deposit, the agreed rent for the property and the terms on which it could be refunded, retained or offset against a tenancy deposit payment or the first month’s rent (where a tenancy agreement is subsequently entered into). The tenant’s agreement must be obtained if the holding deposit is to be used for rent or deposit purposes. The explanation must also clearly state the deadline for agreement, being 15 days beginning on the day on which the landlord or letting agent receives the holding deposit, unless a different deadline has been agreed in writing with the tenant.
3. When taking a holding deposit from a tenant the payment must be treated as clients’ money and held in the Lettspay Digital Wallet assigned to the property to be let.
4. Payment of the holding deposit is limited to a maximum of one week’s rent of the annual rent payable in respect of the tenancy immediately after its grant, renewal or continuance. For example, a 12 month tenancy with a total rent of £26,000 divided by 52 weeks, equals a total holding deposit of £500. The RentiD Digital Assistant app will default Holding Deposit values to this calculation rounding down to the nearest whole pound.
5. Where there are multiple prospective tenants and payment of the holding deposit must be split between the tenants, this will need to be agreed outside of the RentiD Digital Assistant. The RentiD Digital Assistant app currently facilitates payment of Holding Deposits between the Landlord or Property Manager and the ‘Lead’ Tenant only.
6. Where an offer has been accepted and a holding deposit taken, the property should be removed from the market. A holding deposit is paid to ‘reserve’ a property and demonstrates a tenant’s intention to rent that property. Acceptance of a holding deposit confirms your intention to accept that individual as a tenant (subject to the satisfactory completion of reference checks etc.
7. You (the Landlord or Property Manager) must not accept more than one holding deposit for the same housing unless you have previously had grounds to retain an earlier holding deposit.
8. You must refund a tenant’s holding deposit in full within seven days of:
a. entering into a tenancy agreement with the tenant (before the 15 day deadline for agreement);
b. you (the Landlord of Property Manager) choosing to withdraw from the proposed agreement;
c. the deadline for agreement passing without a tenancy agreement being entered into;
d. if you impose a requirement that breaches the Tenant Fees Act 2019 or behave in an unreasonable manner such that it would be unreasonable to expect the tenant or relevant person to enter in to the tenancy.
9. A holding deposit can only be retained where a tenant (or, where applicable, a guarantor):
e. provides false or misleading information which you can reasonably consider when affecting your decision to let a property;
f. fails a right to rent check (provided that you did not know, and could not have been expected to know that outcome, prior to accepting the deposit);
g. withdraws from the proposed tenancy;
h. fails to take all reasonable steps to enter into a tenancy agreement (for example, not providing reasonable information requested to support their tenancy application).
10. Where you intend to retain a holding deposit you should consider whether it is reasonable to retain all or part of the deposit and provide the prospective tenant with a written explanation as to why you have taken that decision within seven days of event set out in Point 9. You must only charge for work that has been carried out or reasonable costs that you have incurred as a result of the tenant not entering into the tenancy, taking into account individual circumstances. Your explanation must include evidence of your costs (e.g. referencing checks) and details of any compensation for the period the property was removed from the market.
11. If a tenant withdraws from a proposed tenancy because of an unfair term (as set out in Part 2 of the Consumer Rights Act 2015 and the Tenant Fees Act 2019) you should refund their full holding deposit.
12. For tenancies falling outside of the scope of the Tenant Fees Act 2019, where you take a holding deposit from a tenant this must be treated as clients’ money except insofar as it will be used to meet the costs of referencing and other reasonable administration charges. You must explain the purpose of the holding deposit and its use in writing, including the circumstances where it could be forfeited or refunded, before any tenant is committed to paying.
TENANCY DEPOSIT TERMS
1. Deposits taken for any Assured Shorthold Tenancy or ‘replacement’ tenancy must be protected by a recognised Tenancy Deposit Protection Scheme duly authorised under the Housing Act 2004 (England and Wales). Tenancy deposits must not exceed the maximum permitted amount and must be protected within the timescales and otherwise in accordance with the relevant scheme rules, including the serving of prescribed information. Payment of the tenancy deposit is limited to a maximum of five week’s rent of the annual rent payable in respect of the tenancy immediately after its grant, renewal or continuance. For example, a 12 month tenancy with a total rent of £26,000 divided by 52 weeks, equals a total tenancy deposit of £2,500. The RentiD Digital Assistant app will default Tenancy Deposit values to this calculation rounding down to the nearest whole pound.
2. Deposits belong to the tenant and where they are passed to you (the Landlord or Property Manager) for protection any other charges due must be dealt with as a separate issue and not deducted from the funds passed to you.
3. You must ensure that the Assured Shorthold Tenancy agreement includes a clause that specifies how and by whom the tenancy deposit is to be held, and whether interest is to be paid or not. It should include some information on how the tenancy deposit will be dealt with at the end of tenancy and the circumstances or criteria or procedure by which it will be refunded.
4. Legislation prohibits the holder of the deposit from disbursing the deposit without the agreement of you or the tenant. A disputed deposit can only be paid out following a decision by an adjudicator or the Courts).
5. The relevant clause of the Assured Shorthold Tenancy agreement must include provision for an unresolved deposit dispute to be referred to an independent dispute resolution scheme. This is via one of the statutory Tenancy Deposit Protection Schemes and there is a requirement by law to inform the tenant under which scheme the deposit is protected and how to seek resolution of a dispute over the return of the deposit should one arise.
6. Where the deposit is in the form of a Bond (for example provided by a local authority) the tenant must advise you (the Landlord or Property Manager) of this provision prior to the decision to let the property is made by you.
7. Where a deposit replacement product (e.g. such as insurance) is proposed in place of a traditional deposit, the potential advantages and disadvantages of the product will be explained in clear terms to the tenant and the landlord by RentiD’s supplier Let Alliance Limited before proceeding.
RentiD will carry out all services with reasonable care and skill. However, RentiD are unable to guarantee the suitability of Tenants, timely rental payments or vacant possession at the end of a tenancy and cannot be held liable by the Landlord for such events. The staff of RentiD are not solicitors, therefore, you may decide to take independent advice.
The High Court and the County Courts of England and Wales shall have jurisdiction to hear and determine any action or proceedings in respect of this agreement.
RentiD may change or add to the terms of this agreement (except in relation to the level of any fees due under this agreement) for legal or regulatory reasons. RentiD will notify you if any such change will affect the service that RentiD offer you.
ENTIRE AGREEMENT AND VARIATIONS
RentiD intends to rely upon the written terms set out in these terms and conditions. You are reminded again to read them very carefully. If you require any changes, please make sure you ask for these to be put in writing. In that way, RentiD can avoid any problems surrounding what RentiD and the Landlord are each expected to do.
Our complaints procedure is described below. Alternatively, RentiD can email a copy of our Complaints Procedure upon request.
As a firm that is a member of The Property Ombudsman, RentiD aims to provide the highest standards of service to all Landlords and Tenants, but to ensure that your interests are safeguarded, RentiD offer the following:
If you believe you have a grievance, please speak to our Customer Experience team on 0118 391 3100. Alternatively, you can write to us at email@example.com. All grievances will be recorded at the time they are received and raised. We will take further information from you in order to investigate the issue and provide you with a satisfactory outcome.
The grievance will be acknowledged within 3 working days and then investigated thoroughly in accordance with established “in-house” procedures. A formal written outcome of the complaint will be sent to you within 15 working days of receipt of the original complaint. A senior member of staff or complaint handler that is not directly involved in the transaction will deal with the complaint. If RentiD require longer than this timescale, we will provide you with an explanation and keep you fully informed in writing and confirm our revised response date. If you remain dissatisfied with the result of the internal investigation, the matter will be escalated to senior management who will review the complaint within 15 working days of receipt of your most recent complaint. Following the conclusion of our in-house review, RentiD will write to you with a final written statement, including any offer made to you. If you are dissatisfied with the conclusion of the in-house review of the complaint, you can refer the matter to the: THE PROPERTY OMBUDSMAN, 43 – 45 MILFORD HOUSE, SALISBURY, WILTSHIRE, SP1 2BP within 12 months of our final outcome.