Your Tenancy Agreement may be your tenants’ best friend and your own worst enemy.
Do you use a Family Homes Assured Shortland Tenancy Agreement?
If not, here are six reasons why you may be putting yourself at risk:
- If your agreement does not comply with the latest tenancy deposit legislation, you can be fined up to three times the deposit and lose the right to eviction.
- If your agreement does not include crucial conditions for your tenants to adhere to, you cannot later find them in breach of these condition. For example a current growing problem for landlords is unauthorised over crowding. With people trying to save money, a couple may be named on the tenancy agreement and decide to let one or two in the house, to people who are not named on the tenancy. The question being does your current tenancy protect you as the property investor or landlord if this situation was to occur.
- If your tenancy agreement has not been updated since before 1996, it may be an “Assured Tenancy” . In such a case you may not be able to increase the rent and it could be an invalid tenancy. Long standing are a god send to any landlord, the tenants often tread the property as their own, and their is no need to re-look the paperwork, (if its broken as the saying goes), however we live in a changing world and things become out of date, due to changes in legislation. It is good practice to review your tenancy agreements yearly.
- Your Tenancy agreement must include the landlords name a postal address in England or Wales, otherwise you may not have a legal right to collect rent. At Family Homes we are more than happy to act on behalf of landlords, in providing a UK postal / care of address. For secure reason many landlords don’t desire their tenants knowing their home address.
- If your tenancy agreement has not been tested in court, you’ll never know if works until it’s too late. It is every landlords wish never to have to use or go to court for any reason, however in the current market the number of disputes and eviction cases are on increase. With a Family Homes Assured Shortland Tenancy Agreement, you enjoy peace of mind knowing that every page and sections of our tenancy agreements have been tested, and have protected many landlords before you.
- If your tenancy agreement is not easy to read and understand, it may go against you in court or in a deposit dispute.
Both new and experienced landlords can get caught out by their tenancy agreements. With a growing letting sector and continual tightening of legislation, thousands of landlords each year get into bitter and stressful disputes with tenants, which could have easily been avoided by the use of the correct paperwork. We have also come across belief of Location Location Location. Will it is our belief that once you as landlords achieves the correct Location for yourself its all about protecting yourself with most up to date, PAPERWORK, PAPERWORK, PAPERWORK.
Which is something we can help with and you can be assured that our paper work and Assured Shortland Tenancy Agreements are:
- Tried and Tested throughout courts in England and Wales.
- Easy to Read and Understand
- Drawn up by an industry leading solicitor, who is a specialist in land and property, landlord and tenant and the Housing Act.
- Constantly monitored and updated.
At Family Homes we understand that if things go wrong with tenants it can become an expensive and time-consuming experience. There are many pitfalls to avoid, whether you are seeking, for example, to recover rent arrears, evict the tenant, deal with anti-social behaviour or recover the cost of damage to your property and if you make one mistake, it could be costly to put right.
Whenever a dispute occurs and a judge has to review documentation presented, the onus of fairness is usually on the landlord. They are responsible for correct paperwork from the start as this will often avoid issues and disputes. However there are times when disputes do occur and need to be resolved.
We support our landlords with practical help on all aspects of renting ensuring fast, efficient and professional resolutions are reached in a ethical and efficient manner.
Whether you are an individual who has decided to invest in the buy-to-let market for the first time, or an experienced landlord with many properties, or you have a problem tenant and you do not know which way to turn. Well we at Family Homes have 23 years experience in the lettings business and we are here to help, our service is tailored to meet your needs.
If you have any questions about our Legal Services please feel free to call us on 01795 47 34 34 and speak to one of our legal Team.