AST Query - Keeping address for mail / banking

Annisele

andyrich666 wrote: »

There is no mortgage, as for the AST for the tenant Its a company tenancy its in the name of a LTD Company and I don't believe that you have to have it protected but I will be doing that once it is signed for both of us, I have not moved yet, I also have a LTD CO so its not important what I do at this stage, If I move it will be October.

I'm not an expert, but I don't believe you can have an AST in that case. ASTs are for when the tenant lives in the property - but if the tenant is a company, the tenant can't be living in the property. Companies don't 'live' at all.

For his sake, I really hope OP is a troll...

G_M

Annisele wrote: »

For his sake, I really hope OP is a troll...

Hadn't occurred to me. Hope so too. For his AND tenant's sake....

andyrich666

ok thanks everyone, ill go to the Agent and let him take it over,

The agreement for 'letting premises to a tenant company', which is what it is.

You do not need to protect the deposit if it is a tenant company for that I am sure as, but no agreement is in place, so you cant protect the money anyway and that is not the issue for now.

The best thing for me to do hang my tail between my legs and speak to the agent I was originally going to do and let them deal with it.

So I have decided that and unless I can get anything positive tonight then please let it go.

I will learn from my mistakes.

Annisele

Going to an agent won't necessarily help you. If you're in England/Wales, you don't need any qualifications or training to set up as a lettings agent (I don't know about Scotland).

As the landlord, you (or your company) will ultimately be liable whatever the agent says.

Plus, I wouldn't expect an average lettings agent to know how to deal with the company law issues you've introduced. I might be taking this to a solicitor rather than a lettings agent.

andyrich666

I get that, my decision is to speak to the agent, he is a good friend of mine but I will have to tell him I took the chance not to use him and I regret that.

I will ask there advice and ask them to prepare a AST, if they dont agree then I will have to speak to my tenant and like you say possibly call in a solicitor, but to be honest I don't think it will get that far, the lady renting the flat is for me quite content and wants it long term for stability so I truly don't believe the issues will get that far.

I will see the lady on Wednesday, explain my side and if we agree to keep the rent the same and I pay the agent fees I can not see many reasons why she would object to that, this way I dont have the stress and can leave you guys in peace.

00ec25

andyrich666 wrote: »

I will ask there advice and ask them to prepare a AST,.

you are still missing the point

your tenant is a company NOT "the lady"
you cannot use an AST with a company tenant - end of...

I hope your friendly agent is experienced and knowledgeable , you might want to educate yourself though since, as LL, you remain legally liable for the actions of your agent
eg: google letting to a company tenant... http://www.primelocation.com/guides/landlords-developers-and-investors/company-versus-individual-lets/

G_M

00ec25 wrote: »

you are still missing the point

your tenant is a company NOT "the lady"
you cannot use an AST with a company tenant - end of...

I hope your friendly agent is experienced and knowledgeable , you might want to educate yourself though since, as LL, you remain legally liable for the actions of your agent
eg: google letting to a company tenant... http://www.primelocation.com/guides/landlords-developers-and-investors/company-versus-individual-lets/

Actually I question this 00ec..

* 'The Lady' has already moved in. She is living there and has been for 2+months
* no contract, tenancy agreement, documentation has been signed.

There is already an AST in existance.
IF (not yet confirmed) a deposit was taken, then by law itshould have been protected within 30 days.

Trying to (retrospectively) disguise this as a company let is disingenuous, and possibly illegal.

Werdnal

But its OK guys ...

andyrich666 wrote: »

this way I dont have the stress

... Good luck with that!

andyrich666

no documentation is signed, I signed my bit but it was without witness, so I gave the tenant a fresh copy which is not been returned to me.

Deposit taken and held but no AST / or as you call it a company let agreement in place,

I don't need to be lectured on where I have gone wrong I got that from the first few posts I need to move on and correct it all, if I cant get that advice here then I will speak to a agent and / or solicitor if neccesary, for me the tenant is happy with the home and wants the stability so she is to me unlikely to be unhelpful, we speak and text every day.

I need to do it properly. Many people do company lets, i thought the term was AST but clearly I have got that wronf and it is called letting premises to a tenant company, so I was wrong to call it a AST and cause more confusion.

This is all new to me as coming here for advice and I was a little nervous.

I can tomorrow if it helps me with you guys put up the copy of the agreement.

G_M

andyrich666 wrote: »

I don't need to be lectured on where I have gone wrong I got that from the first few posts I need to move on and correct it all,

I need to do it properly. Many people do company lets, i thought the term was AST .

You have answered so few of the Qs asked already however....

1) What do YOU think you mean by 'company let'? That YOU (LL) are a company? Or that your TENANT is a company? These are VERY different things.

2) Personally I believe you have already created an Assured Shorthold Tenancy. You have given keys to an individual to live in your property and have accepted rent and a deposit from her.

3) By not registering that deposit, you have broken the law (Housing Act 2004 & Localism Act 2011). The way to make this right (the only way) is to return the deposit in full.

4) Negotiate with your tenant. By mutual agreement you can sign a written ASTon whatever terms you want - 1 year, 3 years (not 3 years & a day though!)

5) You can include a clause specifically placing repairing obligations for the washing machine (but not the roof!) on the tenant (read the Act - seemy link above)

6) Do NOT use the property for important addresses (bank etc). Use a friend, family, agent

7) Give the tenant an address "for the serving of notices" on you. In Eng/Wales.

8) contact HMRC about tax if you go abroad (see my link)

9) Get ALL the consents you need (freeholder, insurer etc)

10 Give the tenant ALL the documents thelaw requires (gas cert, EPC) etc