Refurbishment
Tenants are now enjoying the best
value for money as an ever increasing percentage of rental accommodation
is bran new buy-to-lets, the prudent landlord must ensure that his/her
properties are maintained in tip top order.
To this end, the replacement of kitchens,
bathrooms, carpets and curtains as well as internal redecorations, has become a
necessity at least every five to ten years depending upon the wearability of
the items.
Ambassador has links with a range of
independent contractors who specialise in providing a bespoke range of services
and fittings.
Our Terms of Engagement are:
Introduction
This document forms the Agreement, and sets out the terms of
engagement between Ambassador Property Management, (the Agents) and,
., (the Client), regarding,
., (the Property).
The Agreement is governed, construed and enforced in accordance
with the law of England and Wales.
The services provided by the Agents are listed below as are their
fees.
This is confirmed by the Client signing and dating below as
indicated.
........................................................
.....................................................
.., (the Client) (dated)
1. The Fee
It is to be 10% of the cost of the building works (excluding VAT)
The fee is to become chargeable when the contractor(s) is/are paid.
2. The Services
To consult with the Client to ensure his requirements are fully
understood.
If appropriate and with the Clients instruction, to sub-contract a
professional architect and/or structural engineer to provide his professional
services.
To prepare a schedule of condition, detailing items that require
attention.
To prepare a schedule of necessary works and advising which items
are for repair or improvement.
To obtain quotations from reputable contractors, and to recommend a
suitable contractor.
To oversee the works carried out by the approved contractor on a
regular basis.
To make a final inspection of the works once they are completed, to
ensure they have been carried out to a proper standard and to ensure the site
has been left clean and tidy.
To pay the contractor, and if considered appropriate, to withhold a
5% retention. If a retention has been withheld, to carry out a further
inspection 6 months later and to make a final payment to the contractor.
3. Termination of the instruction
Either party my end the Agreement by giving each other 2 months
notice in writing. Neither party may assign the Agreement to another party
without the written consent of the other.
4. Liability of the Agent
The Agent shall have professional indemnity insurance to the value
of £1,000,000 (one million pounds) for each and every claim.
The Agent shall comply with the RICS Accounting Regulations.
No liability shall be attached to the Agent either in contract or
in tort or otherwise for any loss, injury, damage or legal or other expenses
sustained as a result of the Agents and their employees having reasonably
relied upon information supplied by the Client or any third party.
In no
circumstances shall the Agents or their employees be liable for any
consequential loss or damage save where death or injury results from negligence
on the part of the Agents or their employees.
5. Waiver
No indulgence shown by either the Client or the Agents shall
prevent the other subsequently enforcing their rights and remedies under the
Agreement.
6. Arbitration
Any dispute between the Client and the Agents
arising out of the Agreement and the Conditions of Engagement is to be referred
to a sole Chartered Surveying practice in Cambridge agreed by both parties;
failing that, a Chartered Surveying practice in Cambridge appointed by the
President of the Royal Institution of Chartered Surveyors.
