SunnyBay Lettings - SunnyBay Lettings


Tenant Introduction	In the event of SunnyBay Lettings introducing a tenant to the Landlord whom subsequently enters into an agreement with the Tenant to rent The Property, commission will become due to The Agent for the entire duration of the let. The commission is payable to SunnyBay Lettings for this introduction whether or not the tenancy is duly finalised by SunnyBay Lettings. Commission charged will be an agreed percentage of the gross monthly rental income stated in the Tenancy Agreement and will be payable on commencement of the tenancy from the first month's rental collected by The Agent. Should the amount be greater than one month's rental, the balance will become immediately payable by you. By special arrangement, we can arrange payment spread over 2 months. We will contact you for approval of any potential tenant, or agree in advance with you the extent of our authority to accept a tenant on your behalf.

Fees	Once a tenant whom we have introduced has entered into an agreement, our letting commission is payable on a scale outlined below, at a minimum of 8%(inc. VAT) of the total rent payable for the initial term of the tenancy. The initial term of a tenancy is that outlined in the Tenancy Agreement, excluding any break clause. Our commission is payable in full, in advance, on the commencement of the tenancy. "Rent" includes any payment to be made by the tenant for use of the property, whether expressed as rent, premium or any other form of payment and whether paid directly by the tenant or obtained by other means such as deduction from the security deposit. If the letting continues beyond the original letting period, whether pursuant to the original tenancy agreement or a continuation, extension or renewal of the term originally granted or any new tenancy granted to the same tenant or any person nominated or introduced by the original tenant, our commission is payable at 4%(inc. VAT) of the total rent, subject to any service charges. If we are providing our Management service our fees are an additional 4%(inc. VAT) of the total rent payable depending on the length of the contract. Fees are paid from the beginning of the tenancy agreement. (All funds must be settled before contracts are handed over.) If at any time during the initial tenancy or during any renewal or extension thereof the service we provide is reduced to introduction only, then the fee of 8%(inc. VAT) will become payable immediately in full, for the period the tenants remain in the property. Should the Tenants exercise a break clause in their lease, fees for the remainder of the tenancy will be issued via a credit note. Alternatively, we will replace Tenants for the remainder of the Tenancy Agreement. Where a tenant introduced by SunnyBay Lettings, is replaced as tenant (whether or not under a formal tenancy agreement) by his/her nominee, the commission will remain payable for as long as the new tenant shall remain in occupation of the Property. SunnyBay Lettings will negotiate the terms of the Agreement on your behalf and draw up the tenancy Agreement in accordance with current Housing Act legislation and insert any applicable extra clauses as necessary. The Fee for this and general administration is £120.00 (inc. VAT).