New Landlord - What to do next? (Help Needed With Tenancy Documents)

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    New Landlord - What to do next? (Help Needed With Tenancy Documents)

    Hi

    I am hoping some one can guide me in the right direction with this:

    I have advertised my property on gumtree and found a suitable tenant. I have downloaded the following documents below from a UK site and just need some structure and some further information on how to proceed.

    I have:

    Tenant Application Form
    Proof Of Identity / Guarantor / Referees

    Landlord Reference Request
    Bank Reference Request
    Personal Reference Request

    Receipt For Holding Deposit

    Tenant Information Sheet
    Tenant Check In Check List
    Landlord Check In Check List

    Tenancy Agreement
    Standing Order Mandate
    Inventory

    My main worry is the tenancy agreement whether to pay for one or download a free 1 / copy a friends agreement.

    Also, to add, i am moving out on the 1st May and have asked for a holding deposit/fee to secure the property. Is it normal to take this once all checks etc have been done, or, can i take the deposit 1st?

    Thanks

    Chris

    #2
    There is no such thing as a "one size fit all" tenancy agreement. Its always advisable to get one specifically drawn up for your property and particular circumstances. There have been posts here from LLs who have been caught out by "off the shelf" and freebie TAs.

    As a newby LL, I take it you are aware of the need to protect the deposit in a deposit scheme? Also you need to prepare a full inventory of the property, its contents, carpets, curtains, any furniture and the condition of each item, in order to fulfil the requirements of the deposit scheme when the T leaves.

    Is you property up to date with any gas safety checks if necessary? If furnished, are any electrical items PAT tested?

    Until you have done credit checks and references, you also cannot be sure you have found a "suitable" tenant.

    Comment


      #3
      Thanks for your reply.

      Yes I am aware of the deposit scheme and that is all in hand thanks.

      The only grey area that I have ATM is the tenancy agreement. So if I was to avoid the 'off the shelf' and freebie T.A's where should I go for a specific detailed one? and how much am I looking at?

      I have also had several emails tonight re. the apartment. Is it best to do a few more viewings and get them to fill out an application form? Then decide from there?

      Thanks

      Comment


        #4
        **Can someone please explain the procedure to me. Also can you confirm that I have all of the relevant documents Thanks**

        Comment


          #5
          Don't you think you should have researched this a bit more before you got to the point of advertising, so you wouldn't be panicing now you have a tenant "on the doorstep"?

          Anyway, a solicitor can draw up a TA for you. Their costs vary, so ring around for prices.

          If you have other enquiries, I would take the details from the first one, and contact any subsequent ones, telling them you have someone lined up, currently undergoing credit checks/references etc, and if anything should go wrong, you will get back to them. We did this when we last changed tenant, as we had a lot of enquiries, so kept a list of possible 2nd, 3rd etc option, incase the original tenant backed out or the refs failed.

          To honest, as you seen so nervous about doing this right, I would recommend you use a LA for your first letting. They will offer a "finder only" deal and can vet prospective Ts, set-up the TA, rent standing order etc, and then hand over to you to run the rest of the tenancy.

          Comment

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