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Are you looking to download a FREE tenancy agreement? Finding a
free tenancy agreement that you can download is fairly easy. But
what you need to check is exactly what level of protection it
would provide you and your tenants with. It is also worth
considering what level of value there is in a product that is
being readily available without a cost? Besides, this legally
binding document is to help you protect your investment property
so is it worth spending a little bit more to ensure that you get
a fully comprehensive
solicitor prepared assured shorthold tenancy agreement to
give you maximum protection? If you are busy and don?t always
have time to get out to the solicitors or stationers then it is
still possible to buy an on-line Tenancy Agreement that is
prepared by a qualified solicitor. As a landlord and also as a
tenant it is important that there is a comprehensive tenancy
agreement in place to protect both parties. Don?t be tempted
with purchasing off the shelf do it yourself tenancy agreements.
Some may be Free, but they do not necessarily give you the level
of protection you need. It really is worth investing in a fully comprehensive
solicitor prepared assured shorthold tenancy agreement .
Tenancy agreements Tenancy agreements are a legally binding
document which protects both a landlord and the tenant when
renting out property. Amount of Rent A landlord will determine
the level of rent based on market conditions and level of rent
expected on the type of property in question. New landlord
renting for the first time If you are a new landlord renting
your property for the first time it is essential that you
purchase a comprehensive tenancy agreement. Never, believe that
trust is enough. This is a business relationship to help protect
your investment property. Damage deposits It is important for
landlords to take a damage deposit from the tenants. The amount
set is determined by the landlord. However, it is a worthwhile
investment to purchase a
landlord inventory now as this will detail the condition of
the property and contents prior to the tenants moving in which
can be signed by all parties. When the tenants vacate this
landlord inventory can be used to determine whether any of the
deposit needs to be retained for repair/maintenance work created
by the tenants. Evicting tenants It is never an incident that a
landlord wants to exercise but on occasions it is necessary to
evict tenants. There are certain procedures that a landlord must
take to do this. In the first instance it is worth consulting a
solicitor to find out how to execute this. Rent Arrears may need
to get a county court judgement Many landlords will collect rent
via direct debit from their tenants own bank accounts. It is
important that tenants pay the rent on time and the full amount
so as to avoid getting into rent arrears. If this does happen
the landlord may have to apply for a county court judgement to
resolve the rent arrear issues. Before you evict you need to
know which notice to serve As a landlord needing to evict
tenants it is important to know which eviction notice to serve.
There are a number of good information sources available to find
this information, but it is always worth contacting a solicitor
to ensure that it is done in the correct legal manner. Each
party has certain obligations that they must meet. These can
include: The Landlord - Adhering to Safety Requirements -
Collecting Rent - Attending to repairs on the property -
Enabling the tenants to live peacefully in the property you have
provided - Not harassing the tenants. This can include visiting
the property without prior notice, builders/tradesman arriving
at the property without prior notice and generally leaving the
property in a poor condition for the tenants. The Tenant -
Paying Rent on time - Ensuring that bills are paid and on time -
Contacting the Landlord notifying of any repairs needed -
Issuing the Landlord with the correct period of notice before
they leave When both parties have signed the tenancy agreement
it is very rare that it can be changed unless the tenant and the
landlord agree mutually. For example if a tenant has signed an
Assured Shorthold Tenancy Agreement for a minimum period of six
months and the tenant wanted to leave after just three months,
then they may be liable to pay the remaining three months unless
a break clause is written into the original tenancy agreement
signed. As a tenant there are certain steps that they need to
take to terminate their tenancy agreement. Under normal
circumstances they would give the landlord notice that they are
leaving. Even if this is not written into the tenancy agreement,
it is common courtesy to let the landlord know so that the
landlord can begin necessary preparations to source new tenants
when they vacate. Different Types of Tenancy If a tenant pays
rent to a private landlord and live in a flat or house that is
not shared with the landlord, the tenants are likely to have: ?
an assured shorthold tenancy ? an assured tenancy, or ? a
regulated tenancy This applies even if the tenants have a room
in a house that is shared with other people. The type of tenancy
also depends on the date the tenants moved in. Assured shorthold
tenants If tenants moved in after 27 February 1997, they are
more likely to be on an assured shorthold tenancy agreement.
Although it is still worth checking as tenants may be on an
assured tenancy agreement if the landlord said that the tenancy
would be an assured tenancy rather than an assured shorthold
tenancy before they moved in. An assured shorthold tenancy
agreement gives the landlord a guaranteed right to repossess the
property at the end of the term. This is the most common tenancy
agreement used for most residential tenancies. Assured tenants
If tenants move in after 15 January 1989 but before 28 February
1997 and the landlord didn?t give notice stating that the
tenancy agreement was to be an assured shorthold tenancy
agreement, then it is likely that the tenants may have an
Assured Tenancy. Although the landlord may have given the
tenants a notice stating that the tenancy agreements is an
assured tenancy rather than assured shorthold tenancy. You may
also be an assured tenant if you became the tenant because the
tenancy was passed to you after a regulated tenant died.
Regulated tenants If the tenants moved in before 15 January
1989, it is likely that the tenants will be on a regulated
tenancy. A regulated tenancy can remain in place even if the
landlord changes or the tenant moves to another property owned
by the same landlord.
About the author:
Jennifer Tweed is the founder of buytolet4sale.com, one of the
UK's first property portals dedicated to all types of investment
property for sale and everything you should need for your sale
and purchase. Learn more about
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