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Can anyone point me in the direction of a 'DIY tenency agreement'? I know you can get them from WH Smiths for £X.XX but are there any others to consider (online?) or all they all the same (as far as legalities go etc)
Could be renting my house out in the near future.
Thanks.
I know It's boring but I'll give it a bump for the evening duty. 😉
YGM
There's a 'plain english' AST on the web somewhere you can download for free.
Personally, I'd try to keep it simple and cover the legal bases. My OH used to use a huge one that was copied from a let her sister took. 80% of it was unenforceable hot air.
For a domestic let it really only needs to be a few pages.
Theres nothing much in diy tenancy agreements that you couldn't draft yourself.
Ultimately if the person renting walks away leaving unpaid rent or damage there is very little you can do about unless you want expensive legal action.
I have a lease agreement with a multinational which is 40 pages in length and cost £1500 to draft.Another lease on a flat is 3 pages,provided my agent.
The most important thing in letting is find out about the background of the potential tenant.Employment,how long,where.Previous renting experience.Endorsements from previous landlords,and get them yourself,not through an agent.
An agent may be able to get you a higher rent but bear in mind commission.The agent will also deal with the deposit and return of as it now has to be paid into a government scheme.The agent should also inspect the property every 6 month as the lease is renewed.
Agents work on getting someone in the property as quickly as possible and may not be as thorough in vetting the tenant as you would be.
We use an agent to find and vet the tenant and provide the agreement. We then manage the property. This to us is best combination of convenience and cost.
Cheers lump, got it. YGM too.