The Tenancy Agreement is aimed to protect the Tenant against unscrupulous Landlords, and the Landlord against sitting Tenants. Once the rent has been agreed it will remain at the same level throughout the term of tenancy. The same rule applies with any furniture that the Landlord has agreed to leave, so long as it is mentioned in the inventory. The Landlord is allowed to inspect the property, but only by prior appointment with at least forty-eight hours notice. If the agent is managing the property, regular checks will also be carried out, usually every 3 Months.
This is an agreement between the Landlord and the Tenant, which is legally binding and an enforceable document. The terms set out in it are not flexible, and must be strictly adhered to by both parties. Tenant may occupy a property on the day the tenancy commences, and should vacate the day it terminates. The date and the frequency of the rental payments is determined before the tenancy commences and is clearly stipulated within the Tenancy Agreement.
The agreement will be for a minimum of six or twelve months, or for a period agreed by both parties. If, once the original term has ended, a renewal is required by the Landlord and the Tenant, then further agreements are drawn up. Alternatively, a Memorandum of Agreement may be entered into by both parties, on statutory periodic tenancy.
The Assured Shorthold Tenancy Agreement will be signed by the Landlord prior to the commencement of the tenancy, and signed by the Tenant just prior to moving in. At this time the Tenancy Agreement will be dated, and therefore will be become legally binding for both parties. At this time, the first months rent and the dilapidations deposit will be paid.
The inventory will be drawn up and will be checked by the Tenant on the day of move in. Thereafter a copy will be forwarded to the Landlord. The Landlord will need to check if there are any adjustments, and ensure they are happy with the details contained within the inventory. By simply paying you’re rent and deposit and subsequently moving into the property means that you have entered into a Tenancy Agreement.
It is essential that the Landlord obtains the necessary consents where applicable. For example: from the bank, building society or head lessor. This should be done prior to letting the property to avoid any delay, and a copy to be held by Kings on file.
The most crucial elements to a smooth tenancy is finding the correct Tenant. A series of references are taken on all adults proposing to live in the property. A professional referencing company obtains the references and the following references are supplied: an employer, a previous employer, a previous Landlord/Letting agent, a bank or a character reference. The Landlord can inspect the references if need be. A full credit check will be obtained on a prospective Tenant.
If the references have come back and we do not consider the Tenant to be suitable, then we will seek an alternative Tenant.
If the Landlord wishes to meet the Tenant, this can be arranged by prior appointment at the property or in our offices. Kings Lettings highly recommend this meeting.
At Kings Lettings we understand how important it is for you to feel completely confident with your new Tenant. We also appreciate the need to ensure that your property ideally suits your new Tenant.
All Tenants are thoroughly vetted through a professional referencing company. Employment references, previous employment references and Landlord's references are also investigated. Only when all these checks prove satisfactory do we prepare a Tenancy Agreement.
Kings Lettings will take 1 Months rent and 1 months deposit from the tenant on day of move in, which will be forwarded onto the Landlord.
Hopefully the relationship between the Landlord and the Agent should last for many years and as such at Kings Lettings Property Management we will endeavour at all times to provide a service that will stand the test of time. From the moment you invite a member of our staff into your property you should be granted access to a professional company and through a wealth of experience Kings lettings will guide you through the Lettings process for many years to come.
Once instructed, your property will be marketed through the most popular local newspapers, Kings Lettings distinctive modern "To Let" boards, and on most popular Websites (Rightmove, Fish4homes, Homesale network), Shop windows, Kings Estate Agents.
The rent needs to be paid on time to the managing agent. Thereafter either a cheque will be issued to the Landlord or the rent will be distributed into the Landlord's bank account via BACS. This procedure takes approximately three/five working days. A statement is forward to the Landlord on the day that the rent is processed.
A Dilapidation deposit is taken from all Tenants prior to the commencement of the Tenancy. This amount is one months' rent, unless otherwise agreed by the Landlord. The deposit will be held by the Landlord and is fully returnable to the Tenant if the property is in the same condition at the end of the tenancy as it was when the Tenant moved in, and also if the tenancy has been conducted as stipulated by the Assured Shorthold Tenancy Agreement, unless otherwise agreed by the Landlord. If there is any damage, above normal wear and tear, then estimates are gained for the repair and amount withheld from the deposit. Payment of the last months' rent cannot be covered by the deposit.
Both Tenant and Landlord are committed to a specific period of time, as stated in the Tenancy Agreement. If it is a six-month tenancy then either the Tenant or the Landlord can give a notice no earlier than the four month stage, unless agreed by the Tenant and the Landlord. If it is a twelve month contract then two months notice can be given at any time after the initial four months by the Tenant, and two clear rental months notice by the Landlord, unless the Tenancy is for an agreed fixed period. Two months prior to the end of the Tenancy Agreement a Notice for Possession is issued, which states possession of the property is required.
It is the responsibility of the Landlord to take out buildings insurance. If a property is furnished then the Landlord is also responsible to insure the contents that belong to him. The Tenant should consider insuring their own personal items. We would be happy to provide information of such insurances required.
If the Landlord is non-resident of the UK, the agent will be obliged to retain funds as a provision for taxation or source. Alternatively, a non-resident Landlord can apply to the Inland Revenue to deal with the tax affairs personally. We will be happy to provide the appropriate information and application forms for this purpose.
We will hold back a percentage of the rental income until certification from the Inland Revenue is received.
If the Landlord is resident in the UK, there is a tax implication from renting a property on an unearned income basis. Although we are not accountants, we can give basic advice on the expenses and costs deductable from a Landlord's point of view. We would also recommend for a detailed calculation, that the Landlord consults an accountant.
A thorough inspection of the property is recommended prior to the start of the tenancy to ensure that structure, roof, plumbing, electrics etc... Are all in good order. If a property is let with many appliances remaining, for example washing machine, cooker, fridge and freezer then any repairs due to wear and tear or general maintenance are the responsibility of the Landlord. The central heating system, the plumbings are the responsibility of the Landlord and electrics are the responsibility of the Landlord. If any of the above is damaged due to negligence on behalf of the Tenant, then it is the Tenants responsibility to pay for the repair. All appliances should have operating manuals, where possible. A Gas Safety Record is to be supplied by the Landlord for gas central heating system, gas supply and any gas appliances, which Kings lettings can organise.
All furniture supplied by the landlord must meet the current Fire Regulations. Kings lettings would normally undertake to discuss this in detail with the prospective Landlord.
On a Leasehold property, it is the Landlord's responsibility to pay service/maintenance charges.
The Landlord should attend to any internal or external decoration as necessary prior to the commencement of the Tenancy. This can be arranged through the agent if required. The Tenants are not allowed to redecorate during the tenancy unless otherwise stipulated by the Landlord.
It is the Landlord's responsibility to ensure that the property is in a clean and habitable state upon commencement of the tenancy. It is the Tenant's responsibility to maintain the standard and cleanliness thereafter.
A full inventory of the property is required prior to the commencement of the Tenancy. This takes account of the following: the items of furniture that are to remain in the property, wall coverings, carpets, curtains and a reasonable description of their condition. This is so that an accurate assessment of damage can be made at the end of the tenancy for dilapidation deposit purposes. On the day of move in the tenant has to sign the inventory and return to agent, if any changes are required they are discussed with the Landlord.
When the Tenancy starts, the services will change over to the Tenant's name with the appropriate meter readings. The Landlord should not have the utilities disconnected.
The Landlord should ensure that the garden is in good order prior to the tenancy. The responsibility is then taken over to the Tenant. If garden tools are not supplied, it is still the responsibility of the Tenant to maintain the gardens.
The Landlord should cover all rental hire payments and hire purchase instalments for the period of the Tenancy, for items that are already at the property will remain at the property for the duration of the Tenancy. The Tenant should cover all rental hire payments and hire purchase instalments for any items that the Tenant may wish to supply for them.
Contractors/Recommended Tradesmen
The agent will normally arrange for repair and maintenance on behalf of the Landlord. However, if the Landlord requires a specific contractor in any matter, then the name, address and telephone number must be supplied for each area of responsibility, such as plumbers, electricians, general builders etc... All tradesmen recommended by Kings Lettings are checked for competence and price. However as they are not Kings Lettings employees, Kings Lettings will not be held responsible for their actions.
