Statements

  • Landlord Statements of account clearly show all transactions of receipts and payments made on their behalf and provided at regular intervals and upon demand in between.
    • The statement will included:
    • Rent
    • Any maintenance retention (with the landlords pror consent, in addition to any intermediate top ups to maintain such “float”).
    • Agency Fees and Commission (these must never be taken from a tenant deposit – only from the landlord or the landlord’s rent by prior consent).
    • Expenditure:
      • Maintenance costs etc.
    • Income other than rent e.g. refunds.
    • VAT where applicable.
  • Tenant Statements  of accountclearly show all transactions of receipts from the tenant and the due date of rent , bills , deposit, damages and other payments charged to the tenant and provided at regular intervals and upon demand in between by the tenant.
    • The statement will included:
    • Rent
    • Fees
    • Expenditure:
      • Deposit
      • Damages
      • Utility bills
    • Income other than rent e.g. refunds.
    • VAT when applicable.
    • Such documents must be retained for 6 years for tax purposes.
  • Statements of intent are communications to and from the landlord, tenant, letting agent and any other body.
    • This sets out he intentions of the parties to avoid confusion or later dispute and to establish clear authority to act as a advised.
    • These can be oral (parol) or written.

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