New Tenancy

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    New Tenancy

    After a nightmare tenancy a few years ago, I decided to stop renting my house out, but I have decided I need to do now rent it out again.

    I have advertised it with an agent and they have found new tenants, what do I need to ensure before the tenancy starts? i.e I have had a gas safety certifcate done, the roof checked, I have made an inventory, the agents have said they will protect the deposit with the DPS.

    Is there anything anything else I need to do? any forms I need to serve? I want to give a 6 months ast incase I have any issues, then I don't have to wait a year if there's a problem.

    I want to dot the i's and cross the T's

    Also my wife and I are joint owners, are we joint landlords? do we have to have both our names on the tenancy agreement? im also thinking for tax purposes too???

    any advice appreciated.

    #2
    The link below is a guide for new landlords. Make sure that you have covered everything on it.

    http://forums.moneysavingexpert.com/...2&postcount=12

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      #3
      Excellent, Thank you!

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        #4
        Please consider taking away the responsibility of protecting the deposit from the Letting Agent. If they say they will do it, but simply don't do it, or they do it wrong, or late, then you are still liable as the Landlord. Best to do this yourself to ensure it is done correctly. It is easy to do this if you follow the DPS instructions. Many people fall at this hurdle and come a cropper later on.

        Make sure your Inventory is watertight... is it an Inventory and Schedule of Condition combined, does it have lots of photographs? Ensure you get it signed and dated by the Tenants.

        Not clear if the Agency is just doing Tenant Find for you, or more...

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          #5
          What is a schedule of condition? I have done an inventory, the agents said they would do the DPS, but after your advice I think I might do that now, I have just been told something that bothers me, the agent said there is no LL reference as they have been living with family, would that be a concern?

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            #6
            Can't see how it's a concern because that's the situation that it is. If they'd been in rented and unable to provide a reference, that'd be a concern. Personally I wouldn't rent to anyone I hadn't met. A 10 minute informal chat can reveal all sorts, hence why I conducted all the viewings.
            "I'm afraid I didn't do enough background checks apart from checking her identity on Facebook" - ANON

            What I say is based on my own experience and research - Please don't take as gospel without first checking the gospel yourself.

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              #7
              I guess you're right about meeting the tenants, might put a stop on this until I have, coming on here again has been useful and reminded me how important details are.

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                #8
                Originally posted by porridge View Post
                What is a schedule of condition?
                For me, I produce an "Inventory and Schedule of Condition" document that goes room-by-room and describe what is in the room and then the condition of each item, but also all the walls and floors. You may have already done this to your satisfaction... but I put stuff like "Ball Chair with purple fabric and swivel" then add comments like "new" or "as new" or "excellent", "good", "fair" for the condition and also note anything worth noting... for wooden floors, and existing scratches for example "1 inch long scratch"... and take a picture of what needs noting. That's my Inventory and Schedule of Condition. I hope it protects everyone later on if it's ever needed.

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                  #9
                  Originally posted by Wannadonnadoodah View Post
                  ...hence why I conducted all the viewings.
                  +1 for this. I didn't start like this, but I intend to go on like this. If I use a Letting Agent (boo!) for Tenant Find only, I still insist on doing the viewing aspect instead of them. Besides for the fact it's more efficient - I can ask the Tenants questions and they can ask me direct questions... like "can I remove that desk?" and I can say "yes" or "no" straight away - an Agent would have to check. Anyway, after the viewings I then let them know which Tenant I would like to progress. Obviously this needs >1 Tenant to be interested.

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                    #10
                    Good advice, I will arrange to meet the proposed tenants, the agents have their own tenancy agreement,shouls I use theirs? or is there a better one? do they sign the tenancy agreement before the tenancy begins or on the day they tenancy begins?

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                      #11
                      I wrote up my own, especially to ensure that I dotted the is and crossed the ts. I also provide it to the Tenant(s) before the tenancy starts so they can review it and fully understand it. I get it signed on the day when handing over the keys... after doing the check-in.

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                        #12
                        Excellent,just been reading some of the information and opened my eyes, is there a good tenancy agreement template anywhere?

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                          #13
                          Landlord Associations produce reliable tenancy agreements for their members' use. Google to find National Landlords Association or Residential Landlords Association.
                          Once subscribed, you can download a template for an Assured Shorthold Tenancy Agreement.
                          Various other benefits included for members, such as discounts on services (reference checking, insurance), can recover the outlay of a subscription.

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