2. Legal compliance obligations of landlords
3. PropertyLoop's Listing Service
6. Our Customer Support Service
10. Security Deposits and Deposit Replacement Scheme (DRS)
1. Information On Website
1.1 PropertyLoop provides a peer-to-peer platform for landlords, tenants and suppliers to connect and supports this with features to reduce the risks and administrative burden of the tenancy transaction. However, we cannot provide any guarantee regarding the integrity of the information supplied on our website or by its users.
1.2 Although we have features in place to maintain a high standard of information quality and use best practices to confirm the identity of our users. However, PropertyLoop cannot make any absolute guarantee over the accuracy of any information supplied on our website.
1.3 We are not responsible for the content of any listing information and accept no liability for such content including any errors, omissions or inaccuracies.
1.4 You should satisfy yourself of the accuracy of any and all information and of the integrity of all individuals you are transacting with before entering into any contract or agreement or making payments directly to them.
1.5 Material supplied on our website, including content on our blog and social media accounts, does not constitute legal advice and is supplied for information purposes only.
1.6 We have no control over, nor accept any responsibility or liability for, any problems that arise from properties or tenancy arrangements that are supplied by users of our website.
1.7. The landlord remains responsible for any actions taken by an agent or a third party acting on the landlord's behalf. As such, any reference to ‘landlord’ in this agreement applies to any party acting on the landlord’s behalf.
2. Legal compliance obligations of landlords
2.1 You agree and warrant when you list a property on our website that:
2.2 You have the right to offer the property for rental and will not breach any law, agreement or contract by doing so (this includes the terms of any mortgage on the property, insurance, fire regulations, gas and electrical safety).
2.3 If you require consent from all legal property owners and/or any third party (such as a mortgage supplier or freeholder) to market or let the property, you have obtained the necessary consents.
2.4 If you are required to possess a license to rent property in a particular region and/or to let or manage particular types of property (such as Houses in Multiple Occupation), that you will comply with all such licensing requirements at all times when advertising with PropertyLoop.
2.5 A valid Landlord Registration Number will be included in any advertisement where this is legally required.
2.6 Whilst PropertyLoop can supply a full and comprehensive media pack for you to advertise your property, you will be responsible for ensuring that these provide an accurate and true representation of your property.
2.7 The property complies with requirements for Energy Performance Certificates (EPCs) for rental properties.
2.8 The property and any of the landlord’s contents therein are appropriately insured where applicable.
2.9 The property will have a valid Gas Safety Certificate for the duration of any tenancy arranged or facilitated using PropertyLoop’s services, in accordance with the relevant legal requirements for landlords.
2.10 The property will meet all other legally required safety obligations (such as electrical safety and smoke, carbon monoxide alarms and legionnaires risk assessments).
2.11 The property's windows and doors all lock properly & securely.
2.12 Everything you provide with the property is safe and in working order.
2.13 You are fully responsible for ensuring the property meets the legal requirements for landlords and properties under any relevant legislation, including but not limited to the requirements outlined in this section.
2.14 The landlord must adhere to the Equality Act 2010 and not discriminate against any protected characteristics referenced in this legislation.
2.15 The landlord must not use any content in listings that they do not have permission from the owner (or any other relevant person) who has rights in or connected to such content. This includes individuals named or included in images.
2.16 You agree that you indemnify PropertyLoop without limitation and compensate us for any loss, claims, actions or proceedings that may be brought against us as a result of a breach of all clauses in this section.
2.17 Landlords who list their property on our website agree not to charge any fees to tenants (or other Relevant Persons as defined under the Tenant Fees Act 2019) that would be illegal. Landlords also agree not to charge any fees to tenants for administration or other compulsory one-off charges, including but not limited to fees for viewing or applying to rent the property, referencing, inventory, or tenancy set-up and to comply with the Tenant Fee Act 2019.
2.18 PropertyLoop will administer all Holding Deposits through our website. We will treat all Holding Deposits in accordance with the Tenant Fees Act 2019 including limiting the Holding Deposit to a maximum of one week’s rent, and not taking a second or subsequent Holding Deposit for a property until all previous Holding Deposits taken have been returned.
2.19 Landlords agree not to charge a tenancy deposit in excess of the limits set out under the Tenant Fees Act 2019.
2.20 If a landlord breaches any of the terms in relation to clauses in this section, we reserve the right to make changes in any of the content or suspend their account with us.
2.21 Regardless of any advice provided in the course of referencing or otherwise, the landlord will be responsible for conducting any ID, visa or other checks required under Right to Rent legislation.
2.22 Some PropertyLoop services (for example, professional inventories or safety certificates) are fulfilled by suitable third parties. These third parties are not employees of PropertyLoop, but operate as independent subcontractors. PropertyLoop, therefore, does not determine the manner in which these subcontractors carry out the services in question and does not accept liability for their actions.
2.23 When placing an order, customers may be asked to provide a preferred appointment date. We will endeavour to ensure that our subcontractors complete any work ordered to an appropriate standard in a timely manner, but we are unable to guarantee that the customer’s preferred date will be available or that any certificate or service ordered will be completed or provided by any particular date. We accept no liability for any losses that may arise as a result of a service not being delivered by a particular date.
2.24 Where the landlord uploads their own media for a property listing, any photos, videos or images including floorplans or rendered tours, must be free from third party advertising, watermarks or alike. The landlord is solely responsible for ensuring they hold the permission or copyright for the use of any media they upload.
3. PropertyLoop's Listing Service
3.1 PropertyLoop’s listing service is designed for those who have the explicit permission of all legal owner(s) of the property to place the advert and enter into an agreement to rent the property to a tenant. By using the PropertyLoop listing service, you are declaring this to be the case.
3.2 You agree that you indemnify PropertyLoop for any loss, claims, actions or proceedings that may be brought against us as a result of a breach of Clause 2. You further agree that PropertyLoop may take legal action or any other measures we may deem necessary at our sole discretion if you breach Clause 2, and that you will be liable for any legal or enforcement costs reasonably incurred by us in relation to such a breach.
3.3 By listing a property on PropertyLoop’s website, you agree to these Terms and Conditions of Business, General Website Terms Of Use and our Privacy Policy.
3.4 The landlord must not do any of the following;
- Create multiple listings of the same property on PropertyLoop
- Create false property listings or listings that do not accurately reflect a property that is not available for rent from that landlord
- Approve, authorise or include any material or information (including photos, videos, virtual 360 tours and written content) that is not accurate or is outdated or otherwise misleading as to the current condition of the property being advertised.
- Use more than one PropertyPRO per property at any given time.
3.5 We reserve the right to remove any listing from our website, in part or in full at any time. Any decision we make in connection with the removal of listings or other content is final and we accept no liability to users in respect of any such decision.
3.6 Where requested and at the landlord’s cost, PropertyLoop will instruct the preparation of a fully comprehensive media pack which may include, but not limited to a 3d tour, an HD video, professional photography and floorplans. It is the landlord’s responsibility to seek authorisation of this media capture from any existing occupants of the property. The landlord indemnifies PropertyLoop against any claims or complaints in this regard from his tenants including any privacy matters.
4. Fees
4.1 PropertyLoop also does not charge any fees to tenants however, we may offer optional services that the tenant may purchase. All our tenant services are optional and in compliance with the Tenant Fees Act 2019.
4.2 PropertyLoop connects landlords with local independent lettings agents called 'PropertyPROs' in their area to help landlords list their property and find tenants on our platform. These agents are deemed to be working independently of PropertyLoop and on behalf of the landlord.
a. PropertyPROs charge a fee for their services. These fee rates, how the fees are collected and the level of services offered may vary from one PropertyPRO to another. The landlord will have full visibility into these when selecting the PropertyPRO to act on their behalf and before listing their property on PropertyLoop.
b. PropertyLoop will collect the fees on behalf of PropertyPROs. The fees are payable once a tenant enters into a tenancy agreement.
c. There is no fee payable by the landlord for listing a property on our website.
d. We operate a strict 'No Let, No Fee' policy.
e. We do not force landlords to use PropertyLoop on a sole exclusive basis.
f. Landlords will only be charged for services they have actively purchased and/or chosen to use.
4.3 After a tenant has been found, the PropertyLoop platform provides the following features for all its users without charge:
a. Tenant referencing service (as per Clause 7.11)
b. Tenancy agreement service (as per Clause 7.12)
c. Rent collection service (as per Clause 8)
d. Government approved deposit registration scheme or our alternative deposit replacement schemes (as per Clause 10)
4.4 PropertyPRO service fees vary from one agent to another but are calculated as a percentage of the payable rent (as per Clause 4.2a). For example, fees can be payable upfront in full at the start of a tenancy or taken monthly from the rent. Where the fee has been agreed to be taken monthly, and where more than one month's rent is collected in advance, the fees will be charged on all rent collected. Fees are payable once a tenant enters into a tenancy where the landlord receives rent from a tenant, or a person connected to the tenant, found, introduced or added using our website.
4.5. The above conditions are deemed to be continuous for the entire duration of any tenancy, including any renewal period, hold-over or periodic extensions that may be granted after an initial term of a tenancy and applicable for all rent paid by or received from any tenant, or any person connected to the tenant, found, introduced or added using our website.
4.6 By using PropertyLoop, you agree for us to collect rent on your behalf from any tenant found using our website and for the entire duration of any tenancy.
4.7 Providing PropertyLoop is used to collect rent from the tenant, and where the landlord has agreed to paying fees from rent collected instead of upfront at the start of the tenancy, the fees will be charged as a percentage deduction from all rent we collect on your behalf.
4.8 Where PropertyLoop’s service is not used to collect rent for whatever reason;
a. The landlord agrees to pay any and all fees for the entire term of the tenancy and any fixed renewal period upfront (or remaining terms if fees are being collected monthly as deductions from the rent, if rent collection is cancelled mid-period). Any and all special/promotional rates would be voided and any inclusive services that had been provided would need to be paid for in full.
b. For tenancies that extend on a periodic basis (month-on-month rolling agreement), the landlord agrees to notify PropertyLoop monthly and pay any fees on a monthly basis.
4.9 Where a user is found to have benefitted from free or promotional services as a result of dishonestly or fraud, fees at the prescribed rates calculated retrospectively for the entire term of the tenancy and any fixed renewal period will be charged. Any and all special/promotional rates would be voided and any inclusive services that had been provided would need to be paid for in full.
4.10 PropertyLoop connects renters directly with landlords, or the PropertyPROs the landlord has selected to act on his/her behalf. As such, Letting Agents or Rent to Rent Agents, are prohibited from using the website.
4.11 You may cancel a listing service at any time but once you accept an offer from a tenant and a tenancy subsequently starts, the services performed by PropertyPROs are deemed to be intangible and irrevocable, and where the provision of the service begins within 14 days of the listing being placed, we cannot issue refunds after the service provision has begun except at our sole discretion nor do you have the right to terminate this agreement pursuant to the Notice of the Right to Cancel Regulations 2013 as it does not apply. This does not affect your rights to cancel a tenancy prior to the signing of the tenancy contract with your tenant.
4.12 In addition to Clause 4.3 above, PropertyLoop includes the following at no additional cost:
a. The use of the PropertyLoop platform to manage listings and tenancies along with access to our Customer Support service.
b. The cost of registering or administering payment of the Deposit (as per Clause 10)
c. The cost of obtaining independent reference checks on tenants and any guarantors (as per Clause 7)
d. The cost of setting up and administering a property account for the purposes of rent collection for the duration of the tenancy.
e. The cost of listing your property on various property portals as well as our award-winning PropertyLoop website.
f. All credit and debit card charges and banking charges in relation to collecting rent from tenants and sending these funds to the landlords using our state-of-the-art banking technology.
g. A full comprehensive tenancy agreement
h. The cost of preparing and filing the agent quarterly and annual HMRC NRL tax submissions for non-UK resident landlords.
4.13 Upon request, PropertyLoop can facilitate the following services from our list of accredited suppliers (full price list available here: propertyloop.co.uk/pricing);
a. Rent Guarantee & Legal Protection Service – For all eligible tenancies, we can arrange to add your tenancy to PropertyLoop’s insurance policy to cover Rent Guarantee and Legal Expenses in the event of your tenant’s failure to pay rent or legal expenses to evict a tenant(s) (subject to terms of the insurance policy propertyloop.co.uk/rentprotectionpolicy).
b. Commissioning a fully comprehensive media pack which may include, but not limited to a 3d tour, an HD video, professional photography and floorplans.
c. Various other services including: EPC Certificate, EICR Electrical Safety Report, Gas Safety Certificate, Inventory Services and Viewing Service.
5. To Let Boards
5.1 In addition to advertising a landlord's property online, we may erect a To Let Board at the property to inform potential applicants of its availability.
5.2 We will do this for selected properties at our sole discretion and make no guarantee to provide this service for any particular property or at any particular time.
5.3 Landlords should notify PropertyLoop using the preferences in their online account settings if they have previously agreed not to erect a To Let board with the Freeholder or other interested parties, or if they would prefer not to have a To Let board erected at their property.
5.4 Where a board is erected at their property, landlords agree the following:
5.5 They will request removal of the board if it is no longer wanted.
5.6 They will notify PropertyLoop immediately if it comes to their attention that any damage has occurred or is likely to occur as a result of a board being placed.
5.7 PropertyLoop is not liable for such damage (not excluding any liability that we or our subcontractors may have for boards installed in a negligent manner).
6. Our Customer Support Service
6.1 PropertyLoop aims to support all users on our website. The support will be limited to the use of the site but we will also endeavour to assist landlords and tenants when agreeing a tenancy.
6.2 We will always endeavour to respond to customer support requests by email or online chat on the same working day but where this is not possible, we will respond at the earliest practicable opportunity. This applies to communications sent to PropertyLoop directly and does not apply to communications with other parties, users, subcontractors, landlords or tenants.
6.3 Telephone calls made to and from PropertyLoop may be recorded for training and monitoring purposes.
6.4 Whilst we cannot be held liable for the communication or conduct of users on our website or other parties like subcontractors if you are not happy with our customer support service for whatever reason, we’d like the chance to put it right and ask you to email your complaint to Customer.Relations@PropertyLoop.co.uk in the first instance. Your complaint will be acknowledged in 2 working days and we will endeavour to respond after a full investigation within 10 working days but we reserve the right to make reasonable extensions to this time frame where required in order to investigate the complaint fully.
6.5 If we are unable to resolve your complaint, we will provide you with full details of our PRS redress scheme that you can use to escalate your complaint.
7. Offer and Holding Deposits
7.1 Making an offer without physical viewing; If the tenant has not physically seen the property they are offering on, the offer is based on the below conditional clause which will also be included in the tenancy contract;
“It has been agreed between the Landlord and the Tenant that the Property has been let on a ‘sight unseen’ basis. The Landlord agrees that they have advertised and presented the Property to the Tenant, which includes it’s aspect and location, the furniture, fixtures, fittings, appliances, contents, carpets and condition of the premises accurately. This includes stating whether or not all appliances provided are in good working order. The Tenant therefore unequivocally agrees to accept the premises, ‘as provided’ and or as detailed by the Landlord or on the inventory and schedule of condition’ at the commencement of the Tenancy. It is furthermore agreed that in the event that the Tenant finds that any of the aforementioned is not to his preference, liking, satisfaction, standard or expectation or gives rise to complaint, inconvenience, contention, claim or nuisance, the Landlord has no liability for the same and is under no obligation to release the Tenant from the terms of Tenancy, replace, remedy or compensate the Tenant in any way whatsoever, except for where the tenancy agreement provides otherwise or where the premises is materially different to how it was advertised or where information provided to the Tenant was false, deceptive or misleading.”
Please note that if the property is not in the same condition or not provided with the same contents as how it was advertised or as per the inventory and schedule of conditions report, the tenant could potentially claim against the landlord for any losses suffered.
7.2 When a tenant makes an offer to the landlord to rent their property on the PropertyLoop website, we may collect a Holding Deposit of one week's rent via an online card payment to initiate the process. The tenant’s card will not be charged unless the landlord accepts the tenant’s offer, but we ask the card provider to place a reservation of the Holding Deposit amount to ensure the tenant has sufficient funds.
7.3 The landlord will be notified of offers through the PropertyLoop messaging system where the landlord can accept, reject or offer a counter to the tenant's offer. The tenant will in turn be notified of the decision and where the landlord counters an offer, the tenant may either accept, reject or counter again. Both landlord and tenant may continue to counter until an agreement is reached or until the landlord accepts.
7.4 Any special conditions that the landlord and tenant agree on as part of the offer will be added to the final tenancy contract. Our support team will endeavour to ensure the clauses are clear, concise and reflect what has been included in the special conditions and this may require our support team to re-write or re-word some of the special conditions agreed upon during the offer stage. The tenant and landlord will have an opportunity to review these before proceeding to sign the tenancy contract but PropertyLoop cannot be held liable for any losses, claims, or damages caused by the inclusion or formation of these special condition clauses, and both parties are advised to seek independent legal advice before signing the tenancy contract if they are unsure of any of its content.
7.5 If the landlord accepts an offer, the holding deposit is taken and will go towards the first month's rent payment upon the successful signing of your tenancy contract. This means that the tenant will get the full holding deposit back, and it is put straight towards paying the first month's rent. The only instances where the tenant will forfeit their holding deposit is in the following cases:
a. The tenant provides false, or fraudulent information in their offer or references.
b. The tenant takes an unreasonable time to respond after an offer is accepted. These timescales have been specified in the terms of the offer that the tenant agrees to before placing the offer.
c. The tenant makes material changes to their original offer that the landlord rejects.
7.6 PropertyLoop will determine at our own discretion whether the tenant forfeits their deposit and where this is the case, the landlord will be notified as soon as this happens and has full discretion whether to retain the holding deposit or return it to the tenant.
7.7 Where a landlord wishes to retain a forfeited holding deposit, the landlord agrees that they will indemnify PropertyLoop for any funds which are reversed or charged back by the cardholder or their bank, or which a relevant enforcement body determines must be repaid for purposes related to consumer protection.
7.8 If the landlord cancels, or does not proceed with an agreed offer, the holding deposit will be refunded to the tenant.
7.9 If the landlord chooses to proceed with the tenant’s offer, the property will no longer appear in searches on PropertyLoop while the tenant's application to rent the property is being processed.
7.10 For the avoidance of doubt, an offer does not constitute an Assured Shorthold Tenancy or other Tenancy Agreement.
7.11 Once an offer has been agreed, PropertyLoop will instruct our referencing partners, Goodlord, to process the tenant's application to rent and carry our reference checks. The final reference report will be forwarded to the landlord and this report is intended to act as a recommendation from our reference partners and is for information purposes only and is not binding on the parties involved.
7.12 Once the landlord has received the full application and reference reports, Goodlord will send our standard tenancy contract to sign electronically, a sample copy of which is available on our website Draft Tenancy Contracts. Where specific additional clauses or changes have been explicitly agreed in writing with the landlord in advance, these will be added in the ‘special clauses’ section of the tenancy contract.
7.13 The government's How to Rent Guide and other relevant documents will be provided by email to the tenant's registered email address.
8. Rent Collection
8.1 PropertyLoop will collect rent from the tenant on behalf of the landlord in accordance with the terms of the tenancy contract.
8.2 PropertyLoop will deduct any fees or monies owed by the landlord (if applicable) and forward the remaining balance of the rent to the landlord. If the rent is in arrears, it is the landlord's responsibility to pay for services promptly when they fall due. Please note that non-payment of insurance-backed products such as PropertyLoop's Rent Guarantee & Legal protection or any other service will render them null and void or cancelled without notice.
8.3 PropertyLoop uses state-of-the-art technology to process rent payments via bank transfer once they have been received into our account and the payee has been identified. This technology allows for same-day payments to landlords but in certain cases, this could take up to 3 days.
8.4 We will use our best endeavours to arrange for a standing order to be set up so as to facilitate payment of the tenant’s rent to PropertyLoop. Due to the controlling restrictions of standing order payments, PropertyLoop cannot guarantee the correct setup or payment of rent and take no responsibility for any losses, bank charges, or delays incurred by any party as a result of late or non-payment of rent.
8.5 The landlord may instruct PropertyLoop to stop collecting rent by giving 1 month's notice in writing at which point all fees are due in full in accordance with Clause 4. Please be advised that our Rent Guarantee and Legal expenses insurance is not valid unless PropertyLoop collects the rent for the entire duration of the tenancy term.
8.6 PropertyLoop cannot be held responsible if the tenant(s) fail to pay his/her contractual rent. It is the landlord’s responsibility to chase the tenant in relation to any rent arrears by phone, email or any other means. We will however take such action in your name as is appropriate in the circumstances to recover rent arrears by means of a series of automated written notices that we send via email. If this does not have the desired effect, the landlord is advised to instruct specialist solicitors to take further action.
8.7 It is the Landlord’s responsibility to take all necessary precautions to protect their interests, including instructing solicitors and commencing legal proceedings to preserve the landlord’s rights and recover arrears of rent or failures or breaches of the tenant and to defend all actions or other legal proceedings and arbitrations that may be brought against the landlord in connection with the tenancy or property. All costs and disbursements incurred including legal costs and disbursements will be payable by the landlord.
8.8 Overseas Landlords - Finance Act 1955
Under Section 42A Income and Corporation Taxes Act 1988 supported by the Taxation of Income from Land (Non-residents) Regulations 1995 (Finance Act 1995), while a Landlord may be considered non-resident for tax purposes, he still has to pay United Kingdom income tax arising from rents received in this country. Unless an exemption is received from the Inland Revenue allowing the Landlord to account for tax himself under the self-assessment regime, PropertyLoop is obliged by law to deduct tax at the appropriate rate from rents received and account to the Inland Revenue for these monies on a quarterly and annual basis.
The landlord is responsible for obtaining his own exemption. It should be noted that exemptions are not transferable between agents. No interest is paid to landlords on tax retentions held by PropertyLoop. If the landlord requires an exemption, he would need to complete either a NRL1 or NRL2 form quoting the PropertyLoop reference number (904/NA062656) along with our registered office address PropertyLoop, 30 Churchill Place, Canary Wharf, London E14 5EU. We are legally bound to deduct tax on any income until we receive an exception certificate from HMRC directly.
Where a landlord is considered by PropertyLoop to be non-resident for taxation purposes, we will submit a quarterly and annual return without charge to the landlord.
9. PropertyLoop Rent and Legal Protection
9.1 This forms an integral part of the agreement between you (a landlord) and us (a letting agent) and applies where as part of the service we are providing to you, you may be entitled to the PropertyLoop Rent And Legal Protection which is a service where we add your tenancy to our Rent Guarantee and Legal Expenses insurance policy. The policy terms and wording of this policy can be found here: propertyloop.co.uk/rentprotectionpolicy. The benefit for this service is governed by the term of this policy and conditional on you complying and the terms of this clause.
9.2 In the event of any conflict, inconsistency, or contradiction between the provisions of this clause and the remaining provisions of the agreement between you and us, then this clause shall take priority.
9.3 Where we have agreed to guarantee or otherwise account to you for the payment of rent under the tenancy or tenancies to which this agreement relates, then in the event that the tenant(s) do not make payment and we step in to make up the shortfall you:
a. shall cooperate with us and our insurers and any party appointed by them in attempting to recover rent from the tenant(s) and any party that has agreed to guarantee to you the obligations of such tenant(s). This may include providing witness evidence, allowing a claim to be brought in your name and signing court and/or other documents to facilitate such recovery; and/or at our absolute discretion authorise us to act as your agent in taking any steps that may be necessary or expedient to fulfil the terms of the agreement between you and us and to realise or enforce the rights within, and obtain the full benefit of this clause, including but not limited to us instructing legal representatives and signing court and/or other documents in your name on your behalf as is necessary or expedient to recover unpaid rent (or any other sums in connection with such unpaid rent).
b. acknowledge our insurers’ right of subrogation and agree that our insurers shall have a right to step into our shoes and bring a claim against the tenant(s) and any party that has agreed to guarantee the obligations of such tenant(s) as those rights either arise directly or have been assigned to us.
c. shall not waive any breaches by the tenant(s) or agree to limit the tenant(s)’ liability (or in either case that of any party that has agreed to guarantee the obligations of such tenant(s)).
d. shall not otherwise do anything which would prevent or hinder our (and/or our insurers’) right of recovery or the likelihood of us successfully recovering from such tenant(s) or from any party that has agreed to guarantee to you the obligations of such tenant(s).
9.4 Where in our reasonable opinion:
a. you do not comply with paragraph 9.3a of this clause; and/or
b. where the authorisation set out in paragraph 9.3b of this addendum is insufficient or ineffective in any way; and/or
c. where we (acting reasonably) otherwise consider it expedient, you shall immediately on our written request, assign to us all your past, present, and future rights, claims, title, benefit, and interests of recovery against such tenant(s) under or in connection with the assured shorthold tenancy agreement or agreements entered into between you and the defaulting tenant(s) together with all your past, present and future rights, claims, title, benefit and interests of recovery against any party that has agreed to guarantee to you the obligations of such tenant(s) (and their successors and assigns). You acknowledge and agree that we may at our absolute discretion further assign such rights, claims, title, benefit, and interests of recovery to our insurers.
9.5 You shall do all things necessary including signing further documents, to ensure the effectiveness of the assignment described in Clause 4 of this agreement.
9.6 You agree that where we have paid out under the PropertyLoop Rent Guarantee and Legal Protection Service, we (or our insurers at our option), will have first priority and entitlement over any recovery of unpaid rent (or other sums in connection with such unpaid rent) made in relation to the tenancy or tenancies to which this agreement relates whether from the tenant(s) or any party that has agreed to guarantee their obligations (and/or their successors or assigns) and you agree that such sums shall not be reduced by the amount of any costs (legal or otherwise) you incur in recovering the same.
9.7 If you receive any sums from or on behalf of any tenant(s) or any party that has agreed to guarantee their obligations you agree to promptly pay such sums to us on account of the sums we have paid out under the terms of the PropertyLoop Rent Guarantee and Legal Protection Service, and until such time, you shall hold such sums on trust for us and our insurers.
10. Security Deposits and Deposit Replacement Scheme (DRS)
10.1 Unless the tenant uses a PropertyLoop approved Deposit Replacement Scheme (DRS), we will collect a deposit of 5 weeks rent from the tenant against unpaid rent or bills, dilapidations and any other costs or losses incurred as a result of any breach of the terms of the tenancy contract.
10.2 Full terms of the DRS Scheme for both landlord and tenant are included in the tenancy contract. A draft of which can be found here: Draft Tenancy Contracts
10.3 PropertyLoop takes no responsibility for the failure of a deposit being registered where held by the Landlord or an alternative appointed agent or scheme.
10.4 If the tenant opts for a traditional cash security deposit, under the terms of our standard Assured Shorthold Tenancy contract, the deposit will be held in accordance with the Housing Act 2004 and the provisions of a recognised government deposit protection scheme operated by The Deposit Protection Service Ltd (trading as DPS). Under this scheme, undisputed deposits must be released to the Tenant within ten days of termination of the tenancy.
10.5 The deposit will be held in accordance with the terms of the tenancy contract.
10.6 Full details of the DPS scheme may be found at www.depositprotection.com.
10.7 Where appropriate and/or applicable, if the landlord wishes to use his/her own deposit scheme he/she must request this in writing and the details of this scheme must be provided at least 5 working days prior to the commencement of the tenancy. If the details of the landlord’s designated scheme are provided later than 5 working days prior to the tenancy or during the tenancy, to protect the landlord’s interest and to carry out the legal obligation in respect of the deposit, PropertyLoop will proceed and register the deposit with PropertyLoop’s deposit partner DPS.
10.8 It is the responsibility of the landlord to provide the details and prescribed information of their chosen deposit scheme to the tenants.
10.9 Where the landlord requests for the deposit to be transferred for his retention, consent must be obtained from the tenant before PropertyLoop can transfer the deposit. Deposits must adhere to Housing Act 2004 and the provisions set out by a recognised government deposit protection scheme.
10.10 PropertyLoop takes no responsibility for the deposit being registered correctly whilst in the landlord’s possession nor do we take any responsibility in returning any funds to the tenant. It is the landlord's responsibility to ensure that the deposit is returned to the tenant at the end of the tenancy in accordance with clauses set out in the tenancy contract.
10.11 Where PropertyLoop register a deposit with DPS, at the end of the tenancy, it is the responsibility of the tenant and the landlord to agree any deductions from the deposit (where applicable).
10.12 We require written confirmation from the landlord as to what agreement has been reached with the tenant in respect of any deductions from the deposit within 10 days from the end of the tenancy after which, we reserve the right to instruct DPS to release the deposit in full to the tenant.
10.13 Should the landlord wish to make a deduction from the deposit, he/she must notify the tenant directly. The landlord will have to provide documented proof for any deductions he/she wishes to make. Please note that deposit schemes rarely approve any deductions in the absence of an official inventory and check-in/out report so it is advised that the landlord use PropertyLoop’s inventory partners to produce this report at the start of the tenancy.
10.14 The landlord is responsible to arranging and providing the tenant with an inventory report and a check-in report at the start of the tenancy. A check-out report is also required at the end of the tenancy. The landlord is advised that without these reports, the chance of making a successful claim against the tenants security deposit or Deposit Replacement Insurance is severely reduced.
11. General
11.1 PropertyLoop operates an e-billing scheme. All documents will be sent to the Landlord electronically via e-mail to the address provided.
11.2 PropertyLoop’s secure key tag system ensures that third parties cannot identify which property a set of keys belongs to. Therefore in the event that keys are lost or unaccounted for, PropertyLoop’s liability is strictly limited to the cost of cutting a new set of keys. It is the responsibility of the landlord to provide to the tenant a full set of keys and/or electronic fobs to access the property prior to the commencement of Tenancy.
11.3 Electronic documentation and Communication; Contracts that have been signed electronically by fax, website or e-mail, are binding and admissible as evidence. To facilitate a prompt service, from time to time, we may request our tenants, landlords or other third parties to sign documents electronically. In the event that we are unable to obtain written confirmation from the landlord to proceed with a tenancy, we will accept verbal confirmation in lieu of these documents in order to complete the tenancy promptly.
11.4 Please be advised that for security, clarification, dispute and training purposes, calls may be recorded.
11.5 The headings in this document do not form part of these Terms and Conditions and shall not be taken into consideration in the interpretation or construction of these terms and conditions.
11.6 PropertyLoop has ownership and retains the copyright of everything produced by us including all property assets such as videos, 360 tours, and photography. PropertyLoop also has the right to publish, sell or lease these items. This includes but is not limited to all documents, photos, drawings, maps and reports. If the landlord provides copies of any of these items to a third party or uses any item themselves, a charge of £250 + VAT, (£300 inc. VAT) will be payable by the landlord for each item. This fee is also payable where the landlord allows these items to be used by anyone except PropertyLoop with or without our prior knowledge, if reasonable action is not taken by the landlord to stop it.
11.7 If for whatever reason, the tenant claws back or disputes funds via his bank or credit card company that we have already previously receipted, collected or paid in full or part to the landlord, these funds are to be returned by the landlord to PropertyLoop immediately upon request.
11.8 Any interest accrued on clients' money which we hold will be retained by ourselves to cover bank and administration charges.
11.9 Any commission, interest or other income earned by PropertyLoop while carrying out our duties or providing access to our platform, for example by referrals to solicitors, EPC providers, contractors or inventory clerks, or from PropertyPRO fees, will be retained by us.
11.10 The landlord must provide us with sufficient documentary evidence to satisfy us that you are legally entitled to grant a tenancy of the property by virtue of section 1 of the Accommodation Agencies Act 1953. If the premises are registered with the Land Registry we reserve the right to obtain office copy entries or carry out a Land Registry search. If the premises are unregistered we reserve the right to carry out such investigations that we consider necessary. By listing a property with PropertyLoop you warrant to us that you are the owner of the premises, or otherwise lawfully entitled to enter into a tenancy agreement.
11.11 The landlord gives us permission to carry out consumer credit searches on the landlord(s) where we deem it necessary.
11.12 PropertyLoop reserves the right to change its schedule of fees and terms of business. The landlord agrees to be bound by these changes upon being provided with the revised documents and no objections are raised within 10 days.
11.13 The landlord acknowledges and agrees that PropertyLoop can hold personal data in respect of the landlord and any tenants for use in the course of its business.
11.14 This contract constitutes the entire agreement between PropertyLoop and the landlord and supersedes all prior agreements, understandings, representations or communications between the parties. No amendment or variation to this contract will have any contractual effect unless approved in writing by a Director of PropertyLoop. No other correspondence, prior arrangements, understandings, representations or communications between the parties that infer any additional clauses, promises or conditions that are contained within this document are considered null and void unless countersigned by a Director.
11.15 It is not part of our normal function to forward the landlord's mail. Therefore no responsibility can be taken for mail sent to you at the premises or to our offices. We recommended that you arrange for it to be redirected via the Post Office.
11.16 All mail received will be returned to the sender. We take no responsibility for any losses incurred whatsoever for returning mail to the sender.
11.17 PropertyLoop will carry out all services with reasonable care and skill. However, it is unable to guarantee the suitability of tenants, timely rental payments, early termination by tenants or obtaining vacant possession at the end of a tenancy and cannot be held liable by the landlord for such events.
11.18 We will not be responsible for any loss or damage that you suffer through the act, default or negligence of any third party including any bank which may arise other than through the negligence or failure on the part of PropertyLoop.
11.19 Where applicable, it is the landlord’s responsibility to notify us if they wish to make a claim under our Rent Guarantee & Legal Protection insurance policy which enables us to provide the PropertyLoop Rent and Legal Protection Service (as per Clause 9).
11.20 It is the landlord’s responsibility to notify us if they wish to make a claim under our Deposit Replacement Insurance policy which enables us to provide the tenant with a Deposit Replacement Service (DRS) as per Clause 10.
11.21 All fees are presented as both inclusive and exclusive of VAT. VAT will be charged at the prevailing rate which is currently 20%.
11.22 These Terms and Conditions shall be governed by and construed in accordance with the law of England and Wales. Make sure that you have read and understood these Terms and Conditions, and if you are unsure, seek legal advice before signing.
11.23 PropertyLoop is a trading name of Propertyloop Ltd.
11.24 In this Agreement the use of the singular includes the plural and the use of the masculine includes the feminine. If there is more than one person signing as the Landlord all parties will be jointly and severally liable for the obligations contained in this Agreement. Jointly and severally liable means that each person will be responsible for complying with the obligations and paying all charges and costs under this Agreement, both individually and together.
11.25 Termination of Agreement: Either party has the right to terminate this Agreement in writing:
a. Upon the Tenant’s vacation;
b. Or if the other party falls in breach of the clauses set out within this Agreement during a Tenancy where monetary compensation is wholly inadequate.
11.26 You may withdraw your instructions for us to collect rent upon giving us 1 month's written notice. In the event that the tenant is still in residence, fees and charges will continue to be payable as if we were as per Clause 4.
11.27 We may terminate this agreement immediately if you are in major breach of any of the terms contained in this Agreement or in the event that you do or do not do something which makes it impossible, impracticable or illegal to continue providing these services. In all other circumstances, we will give you one month’s written notice before terminating our agreement.
11.28 We reserve the right to remove, reject, cancel, decline or block any user of our website at our sole discretion.
11.29 We reserve the right to assign our rights and/or obligations under this agreement upon giving you written notice.
PropertyPRO Fees:
PropertyPROs are instructed by landlords to act on their behalf to list, and find tenants for their property using the PropertyLoop platform. PropertyPROs charge a fee for their services. These fee rates, how the fees are collected and the level of services offered may vary from one PropertyPRO to another.
For example, if the PropertyPRO fee has been agreed as follows:
PropertyPRO: Ms Jane Worthing
Service Includes: List property, find tenant, move in tenant, right to rent check.
Example Fee rate: 10%+VAT (12% inc VAT) of the rent payable by the tenant
Applicable term: The entire duration of the tenancy including any renewal or extension.
Payable: Monthly deducted from the rent collected.
In this example case, for an initial tenancy term of 12 months with a 3 months renewal extension (total of 15 months) at £1000 per month. The total fee for the entire period, deducted from the monthly rent received at 10% + VAT (12% inc VAT), would be £1500+VAT (£1800 inc VAT).
The fee agreed between the landlord and PropertyPRO are listed below:
PropertyPRO: _______________________________________________________________
Service Includes: ____________________________________________________________
Agreed fee rate: _____________________________________________________________
Applicable term: _____________________________________________________________
Payable: ____________________________________________________________________
Landlords will only be charged by PropertyLoop for additional services if they have actively purchased and/or chosen to use them. See propertyloop.co.uk/pricing
PLEASE READ THE TERMS CAREFULLY BEFORE LISTING YOUR PROPERTY – When listing your property, you will are asked to confirm acceptance of these terms of business, and in doing so you confirm that you have read and understood the terms and conditions as set out in the above clauses of this agreement and agree to be bound by these.
_______________________________________________________
Cancellation Form
If you decide to cancel this contract during the Cancellation Period you must do so in writing by carrying out one of the actions below:
Complete and return the attached Cancellation Notice by delivering, or by sending it by first class post, or by electronic mail to:
PropertyLoop, 30 Churchill Place, Canary Wharf, London E14 5EU
Email: contactus@propertyloop.co.uk
at any time within the Cancellation Period;
Your Cancellation Notice takes effect as soon as it is posted or sent.
If you would like to know more about your rights you can contact your local Trading Standards Department, or your nearest Citizens’ Advice Bureau.
Complete, detach and return this form ONLY IF YOU WISH TO CANCEL THE CONTRACT
To: PropertyLoop
30 Churchill Place, Canary Wharf, London E14 5EU
Email: contactus@propertyloop.co.uk
I/We hereby give notice that I/We cancel my/our contract for the service as set out in these terms of business.
Ordered on:…………………………………..
[insert date these terms were signed]
Name(s)…………………………………….........……………………………
Address: …………………………………………………………………….
Signature(s)…………………………………………………………………..
Date…………………………………………
Landlord Terms & Conditions Of Business Version 13.5