At What Point Do Other Landlords Sign AST?

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    At What Point Do Other Landlords Sign AST?

    Hi

    I've always taken a holding deposit and have only ever signed the AST when I have full cleared funds in my account. This has usually been on move in day/tenancy start date or perhaps day before.

    What do others do please - and if you do things diferently, what are your reasons?

    Many thanks
    Claymore

    #2
    Much the same as you Claymore. If a tenant wants to reserve a property for some weeks hence, I ask for the first month's rent to reserve it.

    (No doubt the government have some problem with me doing that.)

    I think Lawcruncher recently pointed out that an AST agreement needs to be signed on the day it starts, so I'm making sure I do that now.

    Comment


      #3
      I splash 'Subject to Contract' all over my pre-tenancy communications, and only sign the agreement when everything is in place and I'm happy to hand over keys. I know I could lose a potential tenant, but I don't want to commit until I'm ready ...

      Comment


        #4
        As above, & only after EVERYTHING else is signed als0 - EPC, GSC, Deposit stuff, inventory etc etc etc and all monies paid ...
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

        Comment


          #5
          I've never had a problem with the way I do things. I have a new tenant coming aboard in three weeks. She asked for tenancy agreement before transferring the holding deposit, to which I emailed. I've now received it back in the post signed and asking me to let her know when I've signed and posted back to her.

          From my point of view, if I sign it and send back, I feel slightly vulnerable. EG, say the tenant somehow or another gains access to the property, then doesnt pay the rest of the deposit or rent, I could be lumbered with a big problem?

          Just been googling and found this article about the best time to sign AST.

          https://www.lettingaproperty.com/lan...ncy-agreement/

          Comment


            #6
            I think that website is written by f***wits for f***wits.

            Just do it as I suggest, and don't sign tenancy agreement until day it starts. If tenant is iffy about sending you the money, ask them to give it to you in cash on the day they move in.

            Comment


              #7
              Originally posted by JK0 View Post
              I think that website is written by f***wits for f***wits.

              Just do it as I suggest, and don't sign tenancy agreement until day it starts. If tenant is iffy about sending you the money, ask them to give it to you in cash on the day they move in.
              Cool. Hadn't thought of cash - so used to online banking now.

              Comment


                #8
                I sign at the last minute after cleared funds and all other paperwork such as deposit inventory etc all been signed. I also offer to receive cash on the day if people are uncomfortable but these days people want to transfer. We've had so much communication by this point via email that they feel quite safe.

                Comment


                  #9
                  It doesn't really matter.
                  If a landlord (or their agent) sends a tenancy agreement contract to a tenant and the tenant signs it, the contract is (almost certainly) made whether or not the landlord (or agent) ever, physically, signs it or not.

                  People behave as if it matters, though.
                  When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                  Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                  Comment


                    #10
                    And yet the code of practice says to provide the TA before taking money...

                    Comment


                      #11
                      Originally posted by davett View Post
                      And yet the code of practice says to provide the TA before taking money...
                      Where is this code of practice please?

                      Comment


                        #12
                        Presumably you could just send the text of the TA without the address? There would not be much point in signing that.

                        Comment


                          #13
                          Originally posted by Claymore View Post

                          Where is this code of practice please?
                          https://www.tpos.co.uk/images/docume...1-Oct-2015.pdf

                          Section 9e

                          Comment


                            #14
                            That's a sample of the proposed agreement so the tenant is aware of the terms of the lease.
                            It probably shouldn't be signed at that point, it's simply part of the offer being made.
                            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                            Comment


                              #15
                              Yes, a sample, but many agents are reluctant to even do that - I wonder if they are concerned by similar thoughts to you regarding sending an unsigned TA?

                              Comment

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