Are you looking to download a FREE tenancy agreement? Finding a free tenancy
agreement that you can download is fairly easy. But what you need to check is
exactly what level of protection it would provide you and your tenants with. It
is also worth considering what level of value there is in a product that is
being readily available without a cost? Besides, this legally binding document
is to help you protect your investment property so is it worth spending a little
bit more to ensure that you get a fully comprehensive solicitor prepared
assured shorthold tenancy agreement to give you maximum protection?
If you are busy and don’t always have time to get out to the solicitors or
stationers then it is still possible to buy an on-line Tenancy Agreement that is
prepared by a qualified solicitor. As a landlord and also as a tenant it is
important that there is a comprehensive tenancy agreement in place to protect
both parties. Don’t be tempted with purchasing off the shelf do it yourself
tenancy agreements. Some may be Free, but they do not necessarily give you the
level of protection you need. It really is worth investing in a
fully
comprehensive solicitor prepared assured shorthold tenancy agreement
Tenancy agreements
Tenancy agreements are a legally binding document which protects both a
landlord and the tenant when renting out property.
Amount of Rent
A landlord will determine the level of rent based on market conditions and
level of rent expected on the type of property in question.
New landlord renting for the first time
If you are a new landlord renting your property for the first time it is
essential that you purchase a comprehensive tenancy agreement. Never, believe
that trust is enough. This is a business relationship to help protect your
investment property.
Damage deposits
It is important for landlords to take a damage deposit from the tenants. The
amount set is determined by the landlord. However, it is a worthwhile investment
to
<a href="http://www.buytolet4sale.com">
purchase a landlord inventory now</a> as this will detail
the condition of the property and contents prior to the tenants moving in which
can be signed by all parties. When the tenants vacate this landlord inventory
can be used to determine whether any of the deposit needs to be retained for
repair/maintenance work created by the tenants.
Evicting tenants
It is never an incident that a landlord wants to exercise but on occasions it
is necessary to evict tenants. There are certain procedures that a landlord must
take to do this. In the first instance it is worth consulting a solicitor to
find out how to execute this.
Rent Arrears may need to get a county court judgement
Many landlords will collect rent via direct debit from their tenants own bank
accounts. It is important that tenants pay the rent on time and the full amount
so as to avoid getting into rent arrears. If this does happen the landlord may
have to apply for a county court judgement to resolve the rent arrear issues.
Before you evict you need to know which notice to serve
As a landlord needing to evict tenants it is important to know which eviction
notice to serve. There are a number of good information sources available to
find this information, but it is always worth contacting a solicitor to ensure
that it is done in the correct legal manner.
Each party has certain obligations that they must meet. These can include:
The Landlord
Adhering to Safety Requirements
Collecting Rent
Attending to repairs on the property
Enabling the tenants to live peacefully in the property you have
provided
Not harassing the tenants. This can include visiting the property
without prior notice, builders/tradesman arriving at the property without
prior notice and generally leaving the property in a poor condition for
the tenants.
The Tenant
Paying Rent on time
Ensuring that bills are paid and on time
Contacting the Landlord notifying of any repairs needed
Issuing the Landlord with the correct period of notice before they
leave
When both parties have signed the tenancy agreement it is very rare that it
can be changed unless the tenant and the landlord agree mutually. For example if
a tenant has signed an Assured Shorthold Tenancy Agreement for a minimum period
of six months and the tenant wanted to leave after just three months, then they
may be liable to pay the remaining three months unless a break clause is written
into the original tenancy agreement signed.
As a tenant there are certain steps that they need to take to terminate their
tenancy agreement. Under normal circumstances they would give the landlord
notice that they are leaving. Even if this is not written into the tenancy
agreement, it is common courtesy to let the landlord know so that the landlord
can begin necessary preparations to source new tenants when they vacate.
Different Types of Tenancy
If a tenant pays rent to a private landlord and live in a flat or house that
is not shared with the landlord, the tenants are likely to have:
·
an assured shorthold tenancy
·
an assured tenancy, or
·
a regulated tenancy
This applies even if the tenants have a room in a house that is shared with
other people. The type of tenancy also depends on the date the tenants moved in.
Assured shorthold tenants
If tenants moved in after 27 February 1997, they are more likely to be on an
assured shorthold tenancy agreement. Although it is still worth checking as
tenants may be on an assured tenancy agreement if the landlord said that the
tenancy would be an assured tenancy rather than an assured shorthold tenancy
before they moved in.
An assured shorthold tenancy agreement gives the landlord a guaranteed right
to repossess the property at the end of the term. This is the most common
tenancy agreement used for most residential tenancies.
Assured tenants
If tenants move in after 15 January 1989 but before 28 February 1997 and the
landlord didn’t give notice stating that the tenancy agreement was to be an
assured shorthold tenancy agreement, then it is likely that the tenants may have
an Assured Tenancy. Although the landlord may have given the tenants a notice
stating that the tenancy agreements is an assured tenancy rather than assured
shorthold tenancy.
You may also be an assured tenant if you became the tenant because the
tenancy was passed to you after a regulated tenant died.
Regulated tenants
If the tenants moved in before 15 January 1989, it is likely that the tenants
will be on a regulated tenancy. A regulated tenancy can remain in place even if
the landlord changes or the tenant moves to another property owned by the same
landlord.
