Giving letting agent notice to quit

ono_2

PasturesNew wrote: »

Something doesn't add up.

If you are in an AST then you can't just "give" 2 months' notice.
If you're on a periodic tenancy it's one month (usually from a rent date).

So which is it?

Do you have an AST?
What dates are on it?
Is it periodic?

Pastures, Its interesting that you thought I may be a tenant, but having never been a tenant myself you may be able to help me understand a few points.

Is there a contract between the tenant and the agent?.
and..what kind of fees does a tenant face when renting a property?

cheers

ono_2

G_M wrote: »

Tenant's contract is with YOU. The agent is just that - an agent acting for you. Tenant currently pays YOU via the agent, but if you want paying via a different agent, or direct to yourself, that's your prerogative....

Sound advice G_M. You must be a LA or an educated tenant;).

How would I go about tell the tenant that he must pay the rent to me. I mean, Shall I write him a letter explaining my position or do I have to send a formal letter stating certain parts of the housing act?.

cheers

ONO

G_M

ono wrote: »

Sound advice G_M. You must be a LA or an educated tenant;).

How would I go about tell the tenant that he must pay the rent to me. I mean, Shall I write him a letter explaining my position or do I have to send a formal letter stating certain parts of the housing act?.

cheers

ONO

An ex-LL. Got out at the right time before property prices crashed though!:T

You need to decide if you are going to appoint a new agent, or handle management of the rental yourself. If the former, they should advise you the best way to manage the transfer.

If the latter, which is what I always did, you need to take on board more than just the rent. You'll need to be available to deal with problems yourself (central heating failure, window broken by vandles needs fixing, etc etc). If you can do this remotely, fine ie tenant calls with problem, you call local plumber who goes out. But the tenant needs to be able to contact you and you need to know how to resolve.

Personally, I always made a point of forming a relationship with tenants. Professional but friendly. Personal contact but not excessive. That way a) they'll tell you when probs develop in the house rather than let them get worse; they'll be understanding when you want to delay/get a 2nd quote for work &/or be there to let tradesmen in; c) they're more likely to repsect the property/pay the rent/give you notice etc....

So to answer your Q (!!) I would phone, make an appointment (explaining why briefly), use this as a) an inspection visit (nothing formal) and b) to get a face-to-face relationship. When you meet, talk through what changes you are making and follow up with a formal letter so there's something in writing. No need to quote Acts!

ono_2

G_M wrote: »

An ex-LL. Got out at the right time before property prices crashed though!:T

You need to decide if you are going to appoint a new agent, or handle management of the rental yourself. If the former, they should advise you the best way to manage the transfer.

If the latter, which is what I always did, you need to take on board more than just the rent. You'll need to be available to deal with problems yourself (central heating failure, window broken by vandles needs fixing, etc etc). If you can do this remotely, fine ie tenant calls with problem, you call local plumber who goes out. But the tenant needs to be able to contact you and you need to know how to resolve.

Personally, I always made a point of forming a relationship with tenants. Professional but friendly. Personal contact but not excessive. That way a) they'll tell you when probs develop in the house rather than let them get worse; they'll be understanding when you want to delay/get a 2nd quote for work &/or be there to let tradesmen in; c) they're more likely to repsect the property/pay the rent/give you notice etc....

So to answer your Q (!!) I would phone, make an appointment (explaining why briefly), use this as a) an inspection visit (nothing formal) and b) to get a face-to-face relationship. When you meet, talk through what changes you are making and follow up with a formal letter so there's something in writing. No need to quote Acts!

Nice of you to offer the advice, I appreciate it.

I would be willing to carry out repairs and other problems from long distance, I know good tradesman and will also be investing in homeserve cover, plus the tenant is a good communicator.

The tenant has been really good over the last year and we feel that we don't need to enter into a fully managed contract with another agent, just rent colletion only.

Do you know how much an agent will charge for rent only service?......

We already have the tenant. We will also be drawing up and executing the tenancy agreement with a solicitor.

Really appreciate you time here.

ONO

G_M

8%? 10%?

But why? If "The tenant has been really good over the last year " why not have them pay you direct?

Get a Standing Order form from your bank, fill in your account details, give it to tenant who fills in their details and passes it to their bank.

Consider rent insurance eg Endsleigh or paragon (google for others!). I never bothered but they're an option.

If you are serious about self-managing I'd get a decent book on the practicalities/responsibilities, and consider joining something like the RLA Residential Landlords Association.

See also here, here or here!

We will also be drawing up and executing the tenancy agreement with a solicitor.

Being a bit contraversial now (solicitors reading this....): Why? Get a standard AST from a reputable source (see RLA above), adapt & fill in the gaps and bingo! Contract! But DO read up on the other responsibilties: inventory, Safe Gas inspection, etc.......

ono_2

G_M

10% sounds a bit steep, we paid 11% for a full managed service. It was easy money for the letting agent as the house is low maintainance and the tenant is good.

Anyway, the reason I suggested a solicitor drawing up a AST was because they look very complicated and I wouldn't know how and when to sign. Now I know I can buy one and have him check it, thats even better.

I'm seriously thinking about do it myself, although at some point in the future we might be going abroad for a bit. What happens with the tax?. I read somewhere that the tenant has to deduct tax, is that true?.

cheers
ONO

G_M

I wouldn't know how and when to sign.

Sign and date it at the same time as the tenants. one copy each.

we might be going abroad for a bit.

Then you WILL need an agent, even if its a family member. The tenant MUST be given a UK address and someone in the UK they can contact.

the tenant has to deduct tax,

Not so sure about this but I think it's the UK agent you appoint to collect rent who has to deduct tax before sending rent to you. Think it's to do with ensuring the cash doesn't disappear overseas with tax unpaid.

Strongly suggest you start visiting the forums above as there are more professional people than me on there who can advise!!

ono_2

G_M wrote: »

Sign and date it at the same time as the tenants. one copy each.

Then you WILL need an agent, even if its a family member. The tenant MUST be given a UK address and someone in the UK they can contact.

Not so sure about this but I think it's the UK agent you appoint to collect rent who has to deduct tax before sending rent to you. Think it's to do with ensuring the cash doesn't disappear overseas with tax unpaid.

Strongly suggest you start visiting the forums above as there are more professional people than me on there who can advise!!

What if no family member is a letting agent?


Really helpful advice, not only for me but to other potential landlords who view this forum.

Thanks again

tbs624

II you are going to live abroad then you *must* have a UK address at which notices relating to the tenancy can be effectively served & passed on to you. This can be a friend, an accountant or whatever, but if you don't do this then no rent can be lawfully demanded form the T.

On taxation, read up on the non-resident LLs scheme here

tbs624

ono wrote: »

What if no family member is a letting agent?

It's "agent" in the loosest sense, as in anyone acting for you.