Terms & Conditions

1. Appointment

The Landlord, Susan Buckland, appoints the Managing Agent to act on her behalf in connection with the letting and ongoing management of:

79B Gaisford Street, London, NW5

The appointment shall commence on the date agreed between the parties and shall continue for an initial period of 12 months, subject to the termination provisions contained within these Terms and Conditions.

The Managing Agent shall provide letting and property management services in accordance with these Terms, the instructions of the Landlord and all applicable legislation.

2. Rent

The agreed rental for the Property is:

£5,000 per calendar month.

The Managing Agent shall collect the rent from the tenant and, subject to cleared funds and any lawful deductions, account to the Landlord for monies received.

The Managing Agent shall not be responsible for rent that has not actually been received from the tenant, except where such loss arises directly from the Managing Agent's proven failure to properly account for rent actually received.

3. Management Fee

The Managing Agent shall charge the Landlord a management fee of:

5% of the monthly rent collected.

Based upon the current rent of £5,000 per calendar month, the management fee shall be:

£250 per month.

The management fee shall be deducted monthly from rent collected before the remaining balance is remitted to the Landlord.

The management fee shall remain payable for the duration of the 12-month management appointment unless otherwise agreed in writing.

Any change to the agreed rent shall result in the management fee being recalculated at 5% of the rent actually collected.

4. One-Off Administration and Letting Fee

A one-off administration and letting fee of:

£250

shall be payable by the Landlord.

This fee covers the administration associated with establishing the tenancy and the initial letting and management setup, including, where applicable:

preparation and administration of tenancy documentation;
tenant referencing and associated administration;
arranging commencement of the tenancy;
initial tenant correspondence;
setting up rent collection;
property management records;
initial compliance administration;
general administrative work associated with the letting.

The £250 fee is separate from the ongoing 5% management fee.

5. Tenancy Structure

The parties acknowledge that, for a new private tenancy in England created on or after 1 May 2026, the tenancy will generally operate as an assured periodic tenancy rather than a fixed-term assured shorthold tenancy.

Accordingly, these Management Terms do not create a fixed 12-month tenancy for the tenant and do not purport to override any statutory rights or obligations.

The 12-month period referred to in these Terms relates to the appointment of the Managing Agent, not to a fixed expiry date for the tenant's statutory tenancy.

The tenancy shall continue on a rolling periodic basis in accordance with the Renters' Rights Act 2025 and other applicable legislation.

6. Rent Payment

The tenant shall pay rent of £5,000 per calendar month in accordance with the tenancy agreement and applicable law.

The Managing Agent shall take reasonable steps to collect rent when due and shall notify the Landlord of material arrears.

Where rent remains unpaid, the Managing Agent may take reasonable administrative and enforcement steps on the Landlord's instructions, subject to applicable legislation and any additional charges agreed in advance.

7. Rent Increases

The Landlord acknowledges that rent increases are subject to statutory restrictions.

The Managing Agent shall not increase the rent merely because the Landlord requests an increase if doing so would conflict with applicable law.

Any lawful rent increase shall be carried out using the applicable statutory process.