Terms and Conditions: Rent & Deposit Assurance Guarantee Service
These Terms and Conditions (“Terms”) govern the Rent & Deposit Assurance Guarantee Service (“the Service”) offered by Newton Huxley, a letting agent based in the UK. The Service is exclusively available to fully managed landlords and provides the following cover:
- Rent Repayment:
- Outstanding rent owed to the landlord at the end of the tenancy will be paid within 30 days, provided that:
- The tenant is not withholding rent for outstanding maintenance issues at the property.
- The landlord is not in breach of their obligations under the tenancy agreement.
- Maximum Outstanding Rent:
- The maximum amount of outstanding rent paid will be equivalent to 12 months’ management fees paid prior to the end of the tenancy. Rent paid must not exceed total amount of management fees charged.
- Remedial Works:
- Newton Huxley will immediately instruct and pay for remedial works if a landlord wishes to claim from the tenant’s deposit at the end of the tenancy. Such claims must be agreed upon by a Senior Property Manager at Newton Huxley and fall under excessive wear and tear or malicious damage by the tenant.
- Newton Huxley will not cover maintenance generally expected of a landlord under their obligations or applicable legislation. The Service will adhere to the Deposit Protection Service (DPS) guidance on reasonable claims.
- Maximum Payout Before DPS Award (for Remedial Works Only):
- The maximum amount payable before an award by the DPS for remedial works is £500.
- Approved Contractors:
- Works must be carried out by a Newton Huxley approved contractor and not by the landlord or a contractor that they themselves have appointed.
- Repayment of Claims:
Any subsequent successful claim from funds held by the deposit scheme will be used to pay Newton Huxley for any rent arrears or remedial work costs covered under this guarantee. The remaining balance will be forwarded to the landlord within 3 days of claim funds being received.
- Pre-existing Rent Arrears:
- This guarantee will not automatically cover tenancies that have at any point been in rent arrears prior to enrolment. Properties may be covered at the agent’s discretion based on circumstances of the claim.
- Pre-existing Cover: This guarantee may not be used in conjunction with any other rent protection, guarantee or damage cover, or any similar insurance or guarantee in place against the tenancy. Landlords must disclose if they already have similar coverage in place through another provider. Any discovery of duplicate cover following a successful claim will require the landlord to pay back all paid claims in full within 30 days to Newton Huxley Ltd.
By availing of the Rent & Deposit Assurance Guarantee Service, landlords agree to abide by these Terms and acknowledge that any breach may result in the nullification of the guarantee. Newton Huxley reserves the right to amend these Terms, and any such changes will be communicated to the landlords in a timely manner. These Terms are governed by the laws of England and Wales.