New Tenants - Deducted Rent- for Interior work they said they will do

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    New Tenants - Deducted Rent- for Interior work they said they will do

    I am vetting new Tenants, so far all looks well, they said they would undertake some improvements on interior of house to be done in the first 3 months, Steaming of wall paper, Painting decorating, some Tiles in Bathroom & kitchen, new carpet in Bedrooms, if I reduced Rent.

    I asked for their costings, their estimated costings are a lot more than reduction in Rent for the Year.

    In The Assured Tenancy Agreement, is their a way to word this agreed fixed Rent reduction for the Year and state they have done an estimate to do the work, at a reduced Rent, to cover my Back?, so that they can't say at the end of the 3 months, they are paying less Rent, as the renovations costs more, than anticipated, I don't want any more money coming out of Rent.

    What's the best way to cover my Back in the agreement and not have Rent reduced? Thank You

    #2
    These are qualified, professional decorators eh?

    I only allow tenants to do work after they've been there OK no probs for at least 6 months.

    If you've already agreed then I'd go with they pay full rent, you pay £££ when work done & satisfactory.

    Otherwise, what if not done or no good. Mind you a good handyman is to be cherished....
    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


      #3
      Thank You, some are in the trades

      Comment


        #4
        You have no proof they will actually do the work. You have no proof of the standard they will complete the work to. The carpet and any other items they provide could feasibly remain their property and they could remove them at the end of the tenancy.

        I would charge the standard rent, and if tenants make improvements in the agreed timescale and to the agreed standard, pay them the agreed amount when the work is done.

        However, why are you letting the property with this work required? Much better to get the work done before the tenants move in, complete a full and thorough inventory detailing the condition of the property at the start of the tenancy, then you have an agreed and accpetable document to compare to the end of the tenancy for any deductions/repairs/damage you will need to claim from the deposit. Complicating the issue by permitting the tenant's to make changes, decorate, repair things themselves, is never a good idea.

        Is this your first let? Don't make it more difficult than necessary!

        Comment


          #5
          Originally posted by LesleyAnne View Post
          Don't make it more difficult than necessary!
          Quite.

          If doing a deal of this sort make sure everything that is agreed is properly documented.

          Comment


            #6
            Thank You, Will take points on board, Yes it is, it proberly shows.

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              #7
              Will do, Thank you very much.

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                #8
                Charge full rent. Move-in inventory should reflect property condition at start of T, not 2 months later. If Ts are prepared to accept delayed renovations, then obtain 3 prof estimates, accept the one most favourable and provide detailed schedule of work/standard required. If you pay contractor you have control, and any prof invoices for allowable expenses are tax deductible from gross rent on your tax return.
                You have litle control over Ts during their occupation, even with offering them a reduced rent for DIY improvements.
                Again suggests a lack of LL cash reserves

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                  #9
                  Thank You, I have my own Professional Maintenance Company, who will over see any work done.

                  Everything will be analysised and costed before hand, and work will done in co-operation with Tenants, this process has already be agreed with the Tenants, the main bulk of the work will be done before they move in, the rest they are agreeable to do themselves, under Company supervision, some of them are Trades People.

                  Comment


                    #10
                    Thank You, I have my own Professional Maintenance Company, who will over see any work done.

                    Everything will be analysized and costed before hand, and work will done in co-operation with Tenants, this process has already be agreed with the Tenants, the main bulk of the work will be done before they move in, the rest they are agreeable to do themselves, under Company supervision, some of them are Trades People.

                    Comment

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