Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
I'm a new landlord and my property was let out August last year, i self manage but used my local EA for tenant finder option. They provided an inventory and Tenancy agreement.
They signed a 12 month TA so will be coming up for renewal this year and want to know what to do. Do you guys normally contact to tenants to enquire if they would like to remain in the property? How long before do you do this?
Also is it just a case of getting them to sign a new tenancy agreement? One found off the RLA?
Is there anything else have i got to be wary of?
All advice appreciated
I have a standard letter for this. I offer the tenant a choice between six months, one year or rolling monthly periodic tenancy and I explain the difference especially about what they have to do when they want to leave. Usually they choose the periodic one.If you do nothing the tenancy will default to that in any case and so will the deposit protection but you'll need to send the tenant the new certificate.I always resend them the prescribed documentation as well as I'm paranoid about that. I use NLA tenancy agreements.
You may want to check the terms you signed up to with your lettings agent as usually they build in a clause whereby you're still liable to pay them fees on the renewal of the AST with the tenants they sourced for you. If the commission you paid in YR1 was 7% then they may have reduced it to 5%. however this will vary from agency to agency.
If you're fortunate enough not to have renewal fees built into your contract with the agency then yes you can simply download a standard AST template, which is pretty straight forward to complete. Make sure you follow execute the document correctly and have the tenancy deposit protected. If you're ever in the unfortunate situation where you need to go to the courts to evict a tenant and your paperwork is not in order it can prove to be a bit of a nightmare!
Hi, I agree with all the advice below, one other thing worth mentioning is you should carry out an inspection of the property before you sign a new tenancy just to check on the condition.
I do the same, but I also find most tenants want to go onto a periodic. One thing I am never sure about is do you need to do anything with the deposit documentation if it is held under custodial agreement with DPS
Slowly working towards financial freedom