Renting a Property
A Guide For Both Landlords and Tenants
A Guide For Both Landlords and Tenants
The Key To Peace Of Mind
Renting out your property may seem like an easy source of income, but it can also be a legal minefield. Disagreements between landlord and tenant can quickly become a drain on your time and resources. The best way to avoid this is to take legal advice at the start.
Waters & Co. can help with all areas of landlord and tenant law and, before agreeing to allow a tenant into a property, a landlord should seek advice from us so a tenancy agreement can be tailored to your needs.
Tenancy Agreements
A tenancy agreement is a contract between the landlord and the tenant. This contract can be written or verbal. In England and Wales there is no law to say a tenancy agreement must be in writing, but it is a good idea that it is. There are now special arrangements which have to be considered in respect of a landlord taking a deposit and details of this ought to be in writing. If there is a dispute about the terms of the agreement, it is one person’s word against another if there is no written agreement in place.
The main advantage of having a written tenancy agreement is that it sets out the rights and responsibilities of both landlord and tenant in a way that is legally enforceable. This keeps disagreements to a minimum because both sides know where they stand.
Assured Shorthold Tenancy
Generally, all residential lettings nowadays are Assured Shorthold Tenancies which means a landlord can obtain possession if the right procedures are followed, although an agreement can be extended by consent. Waters & Co. can offer the following:-
Drawing Up An An Assured Shorthold Tenancy Agreement
We will draw up a document to meet your needs once you have provided us with your detailed instructions such as:
Using The Agreement
Once the form of the tenancy agreement is agreed, both the landlord and tenant(s) should sign it before the start of the tenancy. It is advisable to provide a copy to the tenant.
Related Matters
We will give you advice and guidance on broader issues involved in being a landlord including tax liability and what to do if the property you want to rent is mortgaged.
Costs
Charges can vary depending upon the complexity of the tenancy agreement. Please telephone us on 01675 463855 for further guidance or e-mail teresa@waterssolicitors.co.uk for an appointment.
February 2009
Renting out your property may seem like an easy source of income, but it can also be a legal minefield. Disagreements between landlord and tenant can quickly become a drain on your time and resources. The best way to avoid this is to take legal advice at the start.
Waters & Co. can help with all areas of landlord and tenant law and, before agreeing to allow a tenant into a property, a landlord should seek advice from us so a tenancy agreement can be tailored to your needs.
Tenancy Agreements
A tenancy agreement is a contract between the landlord and the tenant. This contract can be written or verbal. In England and Wales there is no law to say a tenancy agreement must be in writing, but it is a good idea that it is. There are now special arrangements which have to be considered in respect of a landlord taking a deposit and details of this ought to be in writing. If there is a dispute about the terms of the agreement, it is one person’s word against another if there is no written agreement in place.
The main advantage of having a written tenancy agreement is that it sets out the rights and responsibilities of both landlord and tenant in a way that is legally enforceable. This keeps disagreements to a minimum because both sides know where they stand.
Assured Shorthold Tenancy
Generally, all residential lettings nowadays are Assured Shorthold Tenancies which means a landlord can obtain possession if the right procedures are followed, although an agreement can be extended by consent. Waters & Co. can offer the following:-
- Draw up an assured shorthold tenancy agreement
- Highlight the essential requirements and terms of your tenancy agreement
- Explain any related legal issues
- Warn you of any pitfalls, including advice on how to end an agreement
- Give you advice on the type of tenant references to seek
- Explain your rights and responsibilities as a landlord or tenant
- Advise on the current deposit regulations
Drawing Up An An Assured Shorthold Tenancy Agreement
We will draw up a document to meet your needs once you have provided us with your detailed instructions such as:
- How many tenants will live in the property together with their full names and present addresses and how long the tenancy is to last
- What restrictions, if any, the landlord wants to place on the tenants about keeping pets, playing music and other matters which may be necessary to avoid any breach of any freehold covenants or lease terms which already legally bind the property
- What the starting rent will be, when it must be paid, penalties for late payment, rent increases and whether council tax and fuel are included in the rent
- What deposit is to be paid and what deposit scheme will be utilised
- Whether the property is to be furnished in which case a full inventory must be attached to the agreement, preferably with a brief note as to the condition of each item
- Bank details for the rental payments
Using The Agreement
Once the form of the tenancy agreement is agreed, both the landlord and tenant(s) should sign it before the start of the tenancy. It is advisable to provide a copy to the tenant.
Related Matters
We will give you advice and guidance on broader issues involved in being a landlord including tax liability and what to do if the property you want to rent is mortgaged.
Costs
Charges can vary depending upon the complexity of the tenancy agreement. Please telephone us on 01675 463855 for further guidance or e-mail teresa@waterssolicitors.co.uk for an appointment.
February 2009
