When to sign tenancy agreement?

grk1964

Just in the process of applying for a rental property. Credit checks etc are now being done.

We are due to exchange in a few weeks time and we want the keys to the rental property the next day. Obviously we don’t want to sign the tenancy agreement until exchange has happened. Is it possible to delay signing the tenancy agreement until the day we move in? 

greatcrested

You and the LL/agent can sign if/when you are both prepared to commit.

Of course, delaying risks losing the property.

But equally, many LLs won't sign till the last minute since they have to be sure the previous tenants have actually left otherwise they might end up with existing tenants staying but a legal contract to provide the property to you.

Have you paid a holding deposit?

Discuss with the LL.

grk1964

Property is currently vacant. The letting agent is aware of the date we want to move in and that we are currently selling our house. Hoping it will be ok??

dimbo61

So the letting agent knows your selling a property.
Are they involved and acting as your estate agents ?
Strange times and maybe the LL is happy to wait for the right tenant ? YOU ?
However the LL is losing money every day the rental is empty so maybe pushing the LA to get tenants for his rental.
Have you got a long gap between exchange and completion ?

grk1964

2 weeks but we are happy to start tenancy when we’ve exchanged. That should be in less than 2 weeks. We submitted our rental application today. 

grk1964

Am I right to believe we have 15 days to sign a AST tenancy agreement? 

greatcrested

Sigh! Have you paid a holding deposit?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/922900/Tenant_Fees_Act_-_Tenant_Guidance.pdf

A landlord or agent should stop advertising a property once a holding deposit has been paid. Landlords and agents can only accept one holding deposit for one property at any one time. They are not permitted to take multiple holding deposits for the same property. The cap of one week’s rent on holding deposits is an upper limit and not a recommendation. A landlord or agent is not obliged to take a holding deposit. Landlords and agents should consider on a case by case basis whether it is appropriate to take a holding deposit and the appropriate level of deposit to take.

Q. What are my responsibilities? You should not waste a landlord or agent’s time if you know that you will not be able to afford a property. You should read any tenancy agreement and be aware of the obligations under the tenancy before you pay a holding deposit.  When you pay a holding deposit, this creates a binding conditional contract between you and the landlord.

Q. What are the landlord or agent’s responsibilities?
Landlords will usually have two weeks (14 days) to enter into a tenancy agreement with you once a holding deposit has been received by the landlord or agent. The ‘deadline for agreement’ is the 15th day after the holding deposit has been received. However, you may agree a different ‘deadline for agreement’ with themin writing (which could be more or less than 15 days).

grk1964

Thank you.
I’ve spoken to the letting agent this afternoon and he said all will be fine. Apparently the tenancy agreement is signed 1-2 days so hopefully we can get it signed the day we exchange contracts on our property! Just hope exchange isn’t delayed!

grk1964

1-2 days before that was meant to say.