Company let

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    Company let

    We have found someone who wants to rent our property. He is an Indian guy whose company has a long term contract here. The company will be renting the property not the individual. We are doing a check on the company through the firm who do our usual credit checks & we will get a reference from a landlord they previously rented from, so we're happy with that.
    My question is "Do we need anything different in the tenancy agreement?"

    #2
    Originally posted by mazco View Post
    We have found someone who wants to rent our property. He is an Indian guy whose company has a long term contract here. The company will be renting the property not the individual. We are doing a check on the company through the firm who do our usual credit checks & we will get a reference from a landlord they previously rented from, so we're happy with that.
    My question is "Do we need anything different in the tenancy agreement?"
    Agreement will show Company as tenant, so it's NOT within the Housing Act 1988 and cannot be an AST. Otherwise, and once offending clauses are deleted, same basic Agreement can be used. You can even legally receive a deposit, becasuse TDS nonsense applies only to ASTs.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
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      #3
      Also I dont think you can go down the route of a s21 with a company let just s8

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        #4
        Sorry for my ignorance, but what is an S8?

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          #5
          John boy is refering to notices you give if you want to get rid of a tenant.

          You will have a common law contract with your company, not an AST, so many of the notices to requiring possession such as section 21 and section 8, are not relevant.

          If all goes well, you will issue a fixed term tenancy; which will then expire after the fixed period, requiring NO NOTICE from either side to end the tenancy. ( An AST always requires notice to be served by the LL if he requires possession), or a periodic tenancy which will renew itself every month, or period, until either of you serves a notice to quit. Section 8 notice is (not relevant to you) is usually served if there is some breach of contract.
          All posts in good faith, but do not rely on them

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            #6
            I think I understand all that, but just to clarify for a thicko - Are we as safe with this arrangement as we would be with an AST, given that there are really no guarantees with an AST.
            Are there any dangers that we need to be aware of.

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              #7
              It depends on the terms in the contract !!!

              Some companies provide their own contracts with renewal options....so you would need to check out the terms they want by getting good legal advice.
              All posts in good faith, but do not rely on them

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