Security Deposits

From 1 June 2019, the maximum tenancy deposit is equal to 5 weeks rent.

WHAT IS TENANCY DEPOSIT PROTECTION?

It is an independent scheme that has been designed to ensure:

„ You get all or part of the deposit back.

„ Disputes between you and your landlord will be easier to resolve with an independent third party.

„ Tenants and landlords/agents make a clear agreement from the start on the condition of the property. DEPOSIT PROTECTION SCHEMES

Your landlord or agent must protect your deposit with an authorised scheme if you have an assured shorthold tenancy.

Your landlord does not need to protect your deposit if:

„ You are living with your landlord as a lodger.

„ You live in the same converted building as your landlord but in a separate flat.

The agent or landlord has 30 days to place your deposit into one of these schemes.

The Deposit Protection Service

0330 303 0030 www.depositprotection.com

My Deposits

0333 321 9401 www.mydeposits.co.uk

The Tenancy Deposit Scheme

0300 037 1000 www.tenancydepositscheme. com

MOVING IN: THE FIRST FEW DAYS

Take some time to check documents, inventory and safety requirements are in order once you move in.

SECTION CONTENTS

Moving in checklists

Inventory

Insurance

Safety

Bills

TV Licence

Council Tax

Deposit Protection 24

25

26

26

27

27

28

28

DOCUMENTS TO HAVE

If you have an Assured Shorthold Tenancy check that you have been provided with the following documents:

□ A copy of the signed tenancy agreement (if there are parts crossed and amended after you’ve signed it, this is not a valid contract)

□ Check-in inventory

□ Gas safety certificate

□ Electrical safety certificate

□ Energy Performance Certificate (landlords are required to achieve a minimum of an E grade)

□ How to Rent booklet (landlorrd obligated to send this as well).

□ Prescribed deposit protection information

Check inventory Sort bills

Internet TV Licence Gas Electricity Water Submit council tax exemption Get insurance

INVENTORY

Taking an inventory is a crucial first step when moving into any property. The inventory should consisit of a detailed list of items in the property, the condition they’re in and a review of the cleanliness of the property.

Take time to ensure that the inventory process is done well – you and your landlord will need to be able to compare the condition of the property at the start and end of the tenancy.

If an inventory hasn’t been organised, you can create one yourself, then send it to the landlord or agent within seven days of moving in.

Example of an inventory:

Item Condition

Lounge sofa Not new, a few years old, worn with coffee stain on the arm

Lounge carpet Not new, general good condition

Lounge walls Painted a few years ago, mark by the window, dent near door frame

HOW TO RENT BOOKLET

The government has provided a guide for tenants and landlords to help establish their rights and responsibilities. bit.ly/ gov-how-to-rent

Landlords are responsible for insuring the building and their contents within it. It is your responsibility to insure your personal possessions by taking out contents insurance.

Many companies offer student deals. Look out for clauses that deem your possessions uninsured if the property is unattended for a specified period of time.

SAFETY

BE AWARE AND TAKE CARE

London can be a large and intimidating city. Stay alert! Taking the right precautions will improve your safety and allow you to enjoy your time here.

„ Keep your personal belongings with you at all times.

„ Always let a friend or flatmate know where you are or going.

„ Be aware of scams. If a situation makes you feel uneasy, trust your gut. „ Get insurance for your belongings

„ Lock all windows and doors before you leave your property.

„ Never leave cooking or appliances unattended.

Gas Safety

Landlords have a legal obligation to ensure that all gas appliances are checked each year by a registered Gas Safe Engineer.

However, it is not a legal requirement for the property to have a carbon monoxide detector. You can ask your landlord for one to be installed or you can buy your own from around £20.

Electrical safety

„ Private landlords must make sure that inspections and testing are carried out on all electrical installations before the start of your tenancy.

„ You can request to see the Electrical Safety Certificate from your landlord. „ If you are a lodger in a property with a resident landlord they are not required to carry out electrical safety checks.

„ Report any electrical issues to your landlord right away. It is then their responsibility to ensure that the necessary electrical work is carried out.

All residents are jointly responsible for paying utility bills. Some landlords insist that you do not switch utility companies. Please check before doing so and be aware of utility companies who try to persuade you to switch.

Make a note of your meter readings on the day you move in and inform the supplier as soon as you can to avoid paying for the previous tenant’s bills.

TV LICENCE

If you watch live TV, or stream movies, you will need a TV licence. How you will pay for your licence will depend on the type of tenancy agreement you have.

The current licence fee is £159.00 per annum, and if you are caught without a TV licence you could face prosecution and a fine of up to £1,000.

If you are away during the summer period you may be eligible for a refund.

For more information go to: www.tvlicensing.co.uk „ USEFUL TIPS

„ Arrange an area where bills and correspondence can be left for each other to see

„ Keep records of all letters and correspondence that you have had with suppliers. When a bill comes in, pay your agreed share immediately

„ Open a joint bank account for bills only, and each set up a standing order

„ Start a money pot for household essentials, e.g. toiletries, detergents

DO I NEED A LICENCE?

„ If you are in shared accommodation, with a TV in your room, and you have a separate tenancy agreement, you will need your own licence

„ If you have a joint tenancy agreement for an entire house or flat, you’ll just need one licence to cover the whole property

Council tax is a property tax which local councils use to maintain services within a Borough.

Students living in a property which is only occupied by full time students are exempt from paying council tax. There are a few steps to be taken in order for the property to be exempt from council tax.

Step 1: Find your local council. You can do this using your postcode and visiting www.gov.uk/pay-council-tax

Step 2: Gather the correct documents and submit them to your local council.

„ Each of the tenants will need to submit a

Statement of Registration which can be found on your My Imperial.

„ The council may request your tenancy agreement. This must include all tenants’ names.

Details regarding how to submit these can be found on local council’s website. Make sure you keep copies of the documents for yourself.

You are required to pay Council Tax if one or more of the tenants are not full-time students however, you may still qualify for a discount.

Seek advice if you receive a notice relating to Council Tax or you think that you have been wrongly refused an exemption. All full time students = Full council tax exemption

One is not a full-time student = 25% Discount

2 X full time students 1 X part time student 1 X non-student = Full council tax is payable

You’ve already paid your security deposit to your agent or landlord (pg 23). Now you need to confirm this has been protected. Your landlord or agent is required to provide details about how your deposit is protected within 30 days of you making the payment.

This information should include:

„ The address of the rented property

„ How much deposit you’ve paid

„ How the deposit is protected

„ The name and contact details of the

TDP scheme

„ The landlord or agent’s name and contact details

„ Who is paid the deposit „ The name and contact details of any third party

„ In what circumstances would some or all of the deposit be retained

„ How to apply to get the deposit back

„ What to do if you can’t get hold of the landlord at the end of the tenancy

„ What to do if there’s a dispute over the deposit

Depending on the scheme, you may be given a certificate signed by the landlord or be provided with a repayment ID number. Keep this safe as you’ll need it to claim your deposit when you leave.

With your postcode, surname, tenancy start date and deposit amount, you can also contact the schemes directly to check if your deposit is protected.

DURING YOUR TENANCY

Things can change or go wrong. Know your rights and responsibilities.

SECTION CONTENTS

Repairs - landlord’s responsibilities 30

Damp and mould 31

Infestations 31 Harassment 32

Leaving early 33

REPAIRS

„ Contact the landlord/agent immediately.

They cannot be held responsible until they have been informed. Give details of what isn’t working, when it happened and if it affects anything else.

„ Follow up phone calls with an email or letter (and always keep a copy). This is proof that you reported the repair.

„ Check the ID of anyone who is called to your property e.g. an engineer.

„ Write to your landlord, in the first instance, if they haven’t undertaken the repairs within a reasonable period of time.

„ If you think that they are taking too long to do them, contact the Student

Accommodation Office. Landlord responsibilities:

„ Heating and hot water supply

„ Basins, sinks, baths and toilets

„ Structure of the property, windows, external doors, drains and gutters

„ Gas appliances and fixed electrical installations

Tenants responsibilities:

„ Report repair issues to landlord or agent

„ Change light bulbs

„ Test smoke alarms and provide batteries

„ Keep the property clean and in good order

Damp can cause mould on the walls and furniture, and make timber window frames rot. It can increase the risk of respiratory illness. It is not always the landlord’s responsibility to deal with damp. It depends on the tenancy agreement, the severity (e.g. if it is causing health problems) and the cause (e.g. disrepair to the exterior of the building).

If you are concerned, you should seek further advice. If you are worried about your health, first contact the landlord, ideally in writing. However, if they fail to respond, you can contact the Environmental Health Department at the council and they should investigate.

Damp and condensation

Depending on the cause, heating and ventilation can remove damp and hiring or purchasing a dehumidifier can help.

Avoiding excessive moisture in the air by:

„ Covering pans whilst cooking

„ Opening windows after showering

„ Drying clothes outside

INFESTATIONS

Infestations can be a problem. Local councils offer services to treat or eliminate them.

WHAT YOU CAN DO

Regularly clean and take out rubbish and recycling. Do not leave anything edible or perishable out; use plastic containers for food. Follow the instructions from pest control professionals.

BEDBUGS WHAT THE LANDLORD CAN DO

Block any holes that might be letting pests into the property. If the infestation was an existing problem before your tenancy, the landlord will be responsible for resolving the problem.

Bedbugs are becoming more and more common in London. Report this immediately and seek advice on how to deal with the problem. Do not take furniture from the street as they might have an infestation. Be aware that bed bugs can attach themselves to clothing and move from property to property in this way.

WHAT IS HARASSMENT

Harassment can be anything a landlord does, or fails to do, that makes you feel unsafe in the property or forces you to leave.

Landlords cannot force you to leave without a court order or formal notice being served.

IF YOU THINK YOU ARE BEING HARASSED, CONTACT THE STUDENT ACCOMMODATION OFFICE

EXAMPLES OF HARASSMENT

„ Barring services; electricity, wifi, etc.

„ Withholding keys, eg: there are 2 tenants in a property but the landlord will only give 1 key

„ Refusing to carry out repairs

„ Threats and physical violence

LEAVING THE PROPERTY

Once you sign a tenancy agreement, you are obliged to continue paying rent until:

„ You and the landlord agree to end the contract early

„ The contract comes to its natural end

If a landlord/agent won’t agree to release you from your contract early, you will be responsible for the payment of rent for the rest of the tenancy period.

CAN I JUST MOVE OUT?

You cannot end the tenancy agreement unless the following apply:

„ The property is unfit to live in

Note: These circumstances would have to be proven. „ You were given misleading information or pressured to take the tenancy

Contact the Student Accommodation Office if you are experiencing any of the above.

BREAK CLAUSE

You may be able to end your tenancy early if the contract includes a break clause.

ASSIGNING A REPLACEMENT TENANT

A landlord or agent may consider releasing you from your contract if you find a replacement tenant.

„ It is your responsibility to find a replacement tenant

„ If your landlord refuses to consent to an assignment, this may be classed as unfair

„ There may be a minimal fee for this

„ The assignment must be recorded in writing by ‘Deed’ and signed by the landlord and all the tenants

„ You will remain liable for the rent until the replacement tenant takes over.

„ Your deposit should be returned once deductions or final costs have been agreed and the replacement tenant has moved in and paid their deposit SUBLETTING

This is when you find a replacement tenant for your room but you continue to make payments to your landlord.

We do not encourage subletting as this can lead to complications such as: property disputes, issues with utilities, no legal protections, insurance problems, surprise roommates and poor behaviour.

You must get consent from your landlord and housemates before sub-letting.

SURRENDER

A surrender is a voluntary agreement between the landlord and tenant that the tenancy has come to an end. A surrender will terminate the tenancy, whether it is fixed-term or periodic. It must be agreed by ‘Deed’.

A landlord/agent may charge a fee if the tenant asks to surrender their tenancy. There are restrictions on what can be charged. For more information, read the government’s tenant guidance. http://bit.ly/gov-tenant-guidance

A Rent Repayment Order (RRO) is an order made by a tribunal judge requiring a landlord to pay back rent to a tenant.

The offences that can result in a rent repayment order are: „ Letting a property without an HMO licence or appropriate licence „ Using or threatening violence to enter the property „ Harassment or illegal eviction „ Failure to comply with council orders, notices, or enforcement actions

For more information or to file an RRO, visit: Application by tenant or local housing authority for a Rent Repayment Order (Housing and Planning Act 2016) - GOV.UK (www.gov.uk)

MOVING OUT

Preparing to leave? Crucial steps for your departure.

SECTION CONTENTS

Moving-out checklist 34

Inventory checks and deposits 35 Deposit disputes

Deposit FAQs 35

37

MOVING-OUT CHECKLIST

□ Check your tenancy agreement Does your contract have a moving out procedure? Check it and follow the requirements, especially the notice period.

□ Check your inventory Make note of any damage or changes to the property to ensure you aren’t charged for damage you didn’t cause.

□ Let your landlord or agency know when you are moving out Contact your landlord/agent to let them know your moving out date. Arrange for them to do a final check to make sure everything is in order.

□ Take photos of the property Take photos of your property to show the condition you are leaving it in (provide timestamps, if necessary). □ Check your meters Take final meter readings as you move out.

□ Pay your final bills and cancel any contracts Ensure all your utility bills are paid up until the date you are leaving and inform the providers that you are moving out.

□ Cleaning Deep clean your property before you move out – it needs to be in the same condition as it was when you moved it.

□ Rubbish It’s your responsibility to dispose of your rubbish and unwanted items, or you can be charged.

□ Deposit Your landlord or agency is responsible for returning your deposit. If there are no issues it should be returned to you within 10 days of the end of your tenancy.

Check the inventory and ensure that all items are back in their original rooms and that the property is clean. The inventory will be used to assess whether any deductions are made from your deposit.

There is an allowance for ‘fair wear and tear’ which means any marks from normal everyday use is allowed. As long as the property is in the same condition as when you moved in, your deposit will be returned.

Ensure you leave the property in the condition in which it was let to you and check that you have paid your rent and any other expenses.

Attend the ‘check-out inventory’ and only sign the document if you agree with its contents; this will be used to assess any deductions from your deposit.

DEDUCTIONS

Allowed

„ Unpaid rent „ Damage or changes to the property

„ Missing items

„ Cleaning costs Not allowed

„ Fair wear and tear

„ Betterment (e.g. charging you costs of property value improvements) „ Charging you for damage that was there before you moved in

DEPOSIT DISPUTES

It can take time to negotiate the release of a deposit. Deductions from a deposit should be justified and reasonable; negotiate with your landlord or agent.

If your landlord is refusing to refund part or all of your deposit and you disagree with their reasoning, you can take further action. If you have a Licence Agreement you can seek support from: „ Student Accommodation Office: Sherfield Building

„ Imperial College Union: Beit Hall „ The Citizens Advice Bureau www.citizensadvice.org.uk/housing „ The housing charity Shelter: bit.ly/shelter-helpline

DEPOSIT FAQS

I’m not happy with the proposed deductions, what can I do?

Write to your landlord, your letter should include:

„ Which costs you think are unreasonable and why (provide proof)

„ The amount you believe should be returned to you

„ Request the landlord to send you the list of deductions and costs, if they haven’t already done so

My deposit has not been refunded within 10 days of agreeing the amount?

Write to your landlord requesting that the deposit be returned, the landlord should respond promptly

My landlord has not responded to my letter/email, what do I do?

Write again giving them a deadline within which to respond,eg 2 days.

What to do if your landlord won’t return your deposit or you cannot reach an agreement?

If the landlord is refusing to co-operate with the scheme to resolve the dispute, you can use the free service offered by your tenancy deposit protection scheme to help resolve the dispute.

The landlord must agree to use the service and once a decision is made, you’re both bound by the verdict. The landlord must hand over the disputed amount to the scheme for neutral safekeeping until the dispute is resolved. The scheme administrator will divide the disputed amount in accordance with the ADR services or the court’s decision.

More information can be found at: www.gov.uk/tenancy-deposit-protection

Where is my deposit protected?

Not sure where your deposit is protected? See page 23 for deposit protection schemes.

Is there a deadline to use the Alternative Dispute Resolution (ADR)

Yes, it is usually within 90 days of the end of the tenancy. Check the timeline and process you need to use in order to make a claim with the scheme where your deposit is protected.

TAKING COURT ACTION

If you are unable to negotiate with your landlord and an Alternative Dispute Resolution (ADR) is not available to you, you might consider taking court action.

Warning: This process can be complicated, costly and time-consuming. Before making a claim, make sure you seek legal advice.

Need help writing your letter?

Shelter England provide useful templates on their website: bit.ly/shelter-letters

HELP AND SUPPORT

There is a lot of support available to you, get in touch or seek help if you need it.

SECTION CONTENTS

Where to go for advice 37

Useful contacts 38 Contract checking glossary 40

WHERE TO GO FOR ADVICE

STUDENT ACCOMMODATION OFFICE

The Student Accommodation Office provides advice and guidance on renting in the private sector. If you need assistance, get in contact with us.

Level 3 Sherfield Building accommodation@imperial.ac.uk imperial.ac.uk/accommodation 020 7594 9444 | @ImperialAccomm

SHELTER

Shelter is a housing charity. You can get expert housing advice from Shelter advisers www.england.shelter.org.uk Tel: 0808 800 4444

YOUR LOCAL COUNCIL

Your local Council can also assist with housing issues including environmental health if your private rented home doesn’t meet health and safety standards:

www.gov.uk/find-local-council CITIZENS ADVICE

Citizens Advice is a network of independent charities throughout the United Kingdom that give free, confidential advice. You can also find useful information on their website: www.citizensadvice.org.uk

IMPERIAL COLLEGE STUDENT UNION

The Student Advice Centre can help you with common housing issues by calling 02075948060 or emailing advice@imperial.ac.uk.

www.imperialcollegeunion.org/advice/nonacademic-issues/housing

LETTING AGENTS REDRESS SCHEMES

The Property Ombudsman www.tpos.co.uk

The Property Redress Scheme www.theprs.co.uk

EMERGENCY CONTACT NUMBERS Police/Ambulance/Fire Brigade: 999 National Gas Emergency Service: 0800 111 999

POLICE NON-EMERGENCY CONTACT NUMBER To report a crime that does not require an emergency response: 101

GAS British Gas www.britishgas.co.uk General Enquiries: 0800 048 0202 Gas Pay As You Go Enquiries: 0800 048 0303

ELECTRICITY London Energy General Enquiries: 0800 096 9000 EDF Energy New customers: Sales Enquiries: 0800 096 4063 Existing customers: Account queries: 0800 056 7777 E.ON www.eonenergy.com General enquiries 0345 052 0000 WATER Thames Water www.thameswater.co.uk General Enquiries: 0800 316 9800 Billing and Account Enquiries: 0800 980 8800

TELEPHONE AND BROADBAND British Telecom www.bt.com General Enquiries: 020 7356 5000 Virgin Media www.virginmedia.com Contact number: 0800 052 0422 Sky www.sky.com General Enquiries: 0844 2411 653

TV LICENCE TV Licensing www.tvlicensing.co.uk General Enquiries: 0300 790 6130 and 0300 790 6144

Please note that the inclusion of named agencies, websites, companies, products, services or publications in this handbook do not constitute a recommendation or endorsement by the Student Accommodation Office

COUNCIL TAX Please find below details of Local Authority Council Tax Departments:

General Information www.gov.uk Valuation Office Agency www.voa.gov.uk 03000 501 501

Brent www.brent.gov.uk counciltax@brent.gov.uk Enquiry Line: 020 8937 1234 Council Tax Line: 020 8937 1790

Camden www.camden.gov.uk Enquiry Line: 020 7974 4444 Council Tax Line: 020 7974 6470

Ealing www.ealing.gov.uk revenues@ealing.gov.uk Enquiry Line: 020 8825 5000 Council Tax Line: 020 8825 7050

Hammersmith & Fulham www.lbhf.gov.uk counciltax@lbhf.gov.uk Enquiry Line: 020 8748 3020 Council Tax Line: 020 8753 6681

Haringey www.haringey.gov.uk council.tax@haringey.gov.uk Out of hours enquiry Line: 020 8489 0000 Council Tax Line: 020 8489 3557 Kensington & Chelsea www.rbkc.gov.uk counciltax@rbkc.gov.uk Enquiry Line: 020 7361 3000 Council Tax line: 020 7361 3005

Lambeth www.lambeth.gov.uk counciltax@lambeth.gov.uk Enquiry Line: 020 7926 1000 Council Tax Line: 0345 302 2312

Southwark www.southwark.gov.uk counciltax@southwark.gov.uk Enquiry Line: 020 7525 5000 Council Tax Line: 020 7525 1850

Tower Hamlets www.towerhamlets.gov.uk counciltax@towerhamlets.gov.uk Enquiry Line: 020 7364 5020 Council Tax Line: 020 7364 5002

Wandsworth Council www.wandsworth.gov.uk counciltax@wandsworth.gov.uk Enquiry Line: 020 8871 6000 Council Tax Line: 020 8871 8081 Westminster www.westminster.gov.uk westminster.counciltax1@secure.capita.co.uk Enquiry Line: 020 7641 6000 Council Tax Line: 0343 178 2743

So, you’ve found the perfect home, and the landlord/agent has given you a contract to sign. You’ll definitely want to look through it carefully. Use our contract checking glossary to help you understand key terms usually found in a tenancy contract.

TERM

Agency fees

Agreement

Alterations

MEANING

Money due to an Agency, agreed with a client, as payment for providing a service.

The contract made between the parties governing a Letting, which should always be in writing.

Physical changes to a property.

Arrears Rent payments lawfully due that have not been paid.

Assignment The disposal or transfer of a tenancy.

Assign To transfer rights, interest or a title in a property to a third party.

Assured Shorthold Tenancy (AST) A form of agreement that does not guarantee long term security but allows the landlord to reclaim a property at the end of the duration. At present, most private sector tenancies are in this form. See page 14 for more information on AST.

Breach of contract Failure to carry out one’s obligation/s as set out in a formal agreement

Break clause

Contract A break clause allows the tenant to give notice and leave the property prior to the end of the tenancy without any further obligation to the contract, usually after a set period of time has elapsed.

A document setting out a formal agreement between two or more parties.

Data protection The scope of protection afforded to individuals in law regarding data records held both electronically and physically by an organisation.

Deposit stakeholder The person who holds the deposit and is responsible for its distribution at the end of the tenancy.

Dilapidation Physical damage to a property caused by neglect or abuse.

Discrimination Describes criminal offences which, for example, may be alleged with reference to gender, race, employment or disability laws.

TERM MEANING

Fair terms (see also unfair terms) Terms that are not unreasonable to either party to an agreement and do not breach statutory regulations

Habitable Clean, structurally stable, free from disrepair infestation and dampness prejudicial to health.

Harassment The use of threats or violence to achieve an aim. It is a criminal offence for a landlord or agent to harass a tenant.

House of Multiple Occupancy (HMO) A house occupied by persons who do not form a single household e.g. building converted into self-contained flats or bedsits; shared houses. Also see page 6 for more information on HMOs.

Implied obligation An obligation prescribed by law not necessarily written and recorded in a tenancy agreement.

Inventory

Joint and several liability

Landlord/lady Organised list of contents of a property – see schedules of condition/ dilapidation. See example of an inventory on page 19.

If you are sharing accommodation and all your names are on one tenancy agreement you are likely to be joint tenants and the liability for rent and damage will be shared jointly between you all. If one person leaves the house the landlord can expect remaining tenants to pay outstanding rent.

Owner of the freehold or lease of a property who lets the property to someone else.

Legal obligation

Letting

Mediation

Plant

Periodic tenancy Legally bound duty that an individual is required to undertake in order to fulfil the rules as set in law.

Process of arrangement between landlord and tenant and commitment to a tenancy agreement.

Informal attempts of a third party to bring about the settlement of a dispute between parties to a contract.

A general term of heavy equipment e.g. air conditioning systems, boilers.

A legally binding document, issued at regular intervals, which creates a contract between landlord and tenant

The control of the property. Various factors will indicate who is in possession of a property at any given time.

TERM MEANING

Property inspection A general visual tour of the property – not a survey.

Quiet enjoyment The common law right of a tenant to possession and enjoyment of his/her tenancy without physical interference by his/her landlord or agents.

Rent book A document containing a clear record of rent payments and statement of statutory obligations.

Rent collection The act of demanding and ensuring that rent is paid over in the manner specified.

Resident landlord A landlord who is ordinarily living with the subject property. Special tenancy rules apply. See page 15 on license agreements.

Schedule of condition Organised list of the state and condition of a property and a specified date.

Space heating Appliances for the heating of an internal area of a building

Statutory notices Notices as provided in law requiring action by those who receive them or send them.

Statutory requirement/obligation Obligations required by law. For example, minimum health and safety standards exist in law for the regulation of rented properties.

Statutory tenancies Tenancies granted or maintained by law

Tenancy renewal

Unfair terms

Utility companies The process of extending or renewing an existing tenancy for a further specified period of time, at terms to be agreed between the parties to the contract.

Terms that are unreasonable to any – or all – parties to an agreement and may breach statutory regulations. A term applied to commercial companies providing the essential services of gas electricity, water, sewage treatment and telephone.