Terms & Conditions – Letting & Management The fees for the Letting Service & the Full Management Service are as follows: · 10% plus VAT of the full rental value of the term of the Agreement for the letting service; and · 10% plus VAT for a renewed or extended Tenancy to the same Tenant; and · 5% plus VAT of the gross rental for the full management service for the term stated in the Agreement. New Tenancy Administration Fees: The cost of £120.00 plus VAT for drawing up or supervising a Tenancy Agreement will be charged separately to the Landlord and Tenant. We shall negotiate the terms of the Tenancy Agreement between the Landlord and Tenant and recommend the most appropriate Tenancy Agreement in the circumstances. Renewal Administration Fees: The cost of £60.00 plus VAT will be charged for drawing up or supervising a Memorandum/Renewal Agreement upon every renewal of the Tenancy. Our fees will be deducted from the first and second month’s rental as necessary. Our letting service includes: a) advice on rental figures in the current market b) marketing the property through the leading website c) obtaining necessary references on prospective tenants d) collecting and holding the deposit (as a stakeholder) payable by the Tenant. Our management service includes: a) receiving the rent from the tenant each month by standing order, cash or cheque b) arranging for the payment of the ground rent, service charges and other expenditure on landlord’s behalf if instructed and subject to sufficient client funds. The landlord will need to arrange to forward all relevant invoices to us c) supplying an estimate before commencing necessary repairs. We will make every reasonable effort to contact the Landlord's nominated contractor, however, we reserve the right to instruct an alternative contractor to prevent or to mitigate further loss and/or damage. Terms & Conditions - Sales CONFIRMATION OF AGENCY TERMS IN ACCORDANCE WITH SECTION 18 OF THE ETATE AGENTS ACT 1979 Rate of Commission: Sole Agency 2.0% of the Sale Price, including any amount apportioned for fixtures and fittings, plus VAT Multiple Agency 3.0% of the Sales Price, including any amount apportioned for fixtures and fittings, plus VAT · London-Tokyo Property Service Ltd shall be entitled to a Sole Agency for the period of twelve weeks from the date of this agreement and thereafter until terminated by either party giving fourteen days written notice. Sole Agency means that you will be liable to pay remuneration to us, in addition to any other costs or charges as agreed, if at anytime unconditional contracts for the sale of the property are exchanged with a purchaser introduced by us during the period of our Sole Agency, or with whom we had negotiators about the property during that period, or with a purchaser introduced by another Agent during that period. · If other Agents are instructed during the Sole Agency period, or on the expiry of the Sole Agency period the rate of commission payable in the event of the sale of the Property to a purchaser introduced directly or indirectly by London Tokyo Property Services Ltd, or a sale arranged by London Tokyo Property Services Ltd, shall be the Multiple Agency rate. · A purchaser is a “ready, willing and able” purchaser if he prepared and is able to exchange unconditional contracts for the purchase of your property. You will be liable to pay remuneration amounting to one half of the agreed sale fee to London Tokyo Property Services Ltd in addition to any other costs or charges agreed, if such a purchaser is introduced by us in accordance with your instructions, and this must be paid even if you subsequently withdraw or unconditional contracts for sale are not exchanged, irrespective or your reasons. · Commission shall become due upon exchange of contracts to buyer who was introduced directly or indirectly by London-Tokyo Property Service Ltd, or upon a sale arranged by London-Tokyo Property Service Ltd, and normally becomes payable no later than the contractually agreed completion date. The client authorises his/her solicitor to account to London-Tokyo Property Service Ltd out of the proceeds of the sale of the Property for the amount of such commission, together with VAT. Interest at 5% above the Barclays Bank base rate may be charged on any unpaid amounts still outstanding, seven days after the date of completion. · The client agrees to reimburse London-Tokyo Property Service Ltd upon demand, for any additional expenses incurred on his/her behalf, as agreed in the attached schedule of “Advertising and other Agreed Expenses”. · If this agreement is terminated otherwise than on the completion of the sale of the property, the client shall be liable to pay London-Tokyo Property Service Ltd for any agreed expenses, which shall become immediately due.