Information for Landlord

bigbadwolf1970

Hi

I have had good tenants in my property for almost three years and let through a letting agent. However I am not pleased with my agent so have decided to let privately. There are many variations of Assured Shortold Tenancy Agreements on the Internet; some are free but other websites charge a fee.

I am completely new at this and just wondered if anyone here could point me in the right direction in regard to Holding a Deposit for my tenants, getting the right information and what I'm legally required to do.

Many thanks!!

Jowo_2

The usual advice for a novice landlord is to join a professional landlord association which gives you access to a knowledgebase and agreements and that Landlordzone is a great resource to inform you how to screen tenants, comply with legislation and give info on your obligations and tenants rights. They also have a forum that has experienced landlords and housing solicitors as members. Plenty of decent books on how to be a landlord, too.

chappers

Do you not have a copy of the current tenancy agreement, if not you should as this agreement is between you and your tenants with the LA just being your agent.
Just use this one, removing any reference to the LA in the text, landlordzone is a great resource for information and advice.
Becoming a landlord without an LA is something I'm sure you are more than capable of doing, we all had to take that step at some point.
My advice to you is if you are not sure of something then don't take any action until you have found out the relevant information.
A book on letting may be a good basis for an overview of your rights and responsibilities as a loandlord.

bigbadwolf1970

LA contract has been terminated, they were charging me 15% of my tenants' rent for doing nothing at all, i.e. £160 per month!!! I understand that I'm not legally allowed to hold a deposit from my tenants without getting a Tenants security contract? They are great tenants, professional and never had a problem receiving rent every month in three years so I will research the best option.

thanks again.

bigbadwolf1970

I do have a copy of the current letting contract (from agent). Its a long document though, but I guess I could scan and re-type anything that was previously dated and signed. thank you.

Jowo_2

bigbadwolf1970 wrote: »

LA contract has been terminated, they were charging me 15% of my tenants' rent for doing nothing at all, i.e. £160 per month!!!.

Is this a tenant finding fee only?

chappers

sounds more like a management fee and a steep one at that.

bigbadwolf1970

I've sorted out the LA, just worried about to cope on my own as a private landlord...

clutton_2

if you do not issue a new agreement then the deposit does not have to be protected as the tenants moved in prior to the DPS schemes becoming law.

BUT the tenant needs to know where their money actually is.

if i were you, i would do nothing with regard to the AST until you have researched further. Please Join national landlords association and read up on your responsibilities and duties. (joining fee tax deductible)

Simply because the management has changed, should not affect the AST.

Ask the LA to give the inventory to you, along with the credit checks and referencing which they did when the tenant moved in.