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Few questions...

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Hi just found three postgraduate students to rent my house and I have a few questions:
a) all three want to sign in the contract. Do they have to sign the same contract all three or do I make them sign a copy each?In the standard contract that I got there is only room for one signature.
b)they are all students. Which one is the recomended deposit scheme in this case?

Comments

  • Best to let whole house to all three. That way, they're all jointly and severally liable for 100% of rent.
    They all sign one copy of the Letting Agreement ('Counterpart'). If necessary, attach another sheet of paper.
    As tenants, students should pay deposit like everyone else does (= one collective sum). It needs protecting, as usual.
  • Thanks for the tip! What is the recommended scheme for students in which to put the deposit?
  • Werdnal
    Werdnal Posts: 3,780 Forumite
    Part of the Furniture Combo Breaker
    edited 2 September 2011 at 4:26PM
    Thanks for the tip! What is the recommended scheme for students in which to put the deposit?

    There is no specific scheme just because they are students. Any of the deposit schemes will do. I personally use the DPS - Deposit Protection Service, as its free. You can set up the account and pay online. Make sure you give each student a copy of the prescribed information though, as it is a legal requirement to provide this, and if you don't any S21 notice you issue will be invalid.

    I assume you have compiled a full and thorough inventory of the property, detailing its contents and the condition of each item and decore in each room? You will need this to prove any difference in condition in order to claim for damage/repairs at the end. Get each tenant to read and sign that they accept it as a true record of the starting condition.
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