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Posts: 37 Forumite
Hi,
One of my houses has been rented to the same person now for over 8 years and the tenancy has simply dropped into an SPT. She is now moving on which is fine and has a friend that wants to take over the tenancy straight away.
What is the best and most economical way of doing this keeping everything straight re deposits inventories etc, but keeping any agency fees if required to a minimum?
Thanks in advance
One of my houses has been rented to the same person now for over 8 years and the tenancy has simply dropped into an SPT. She is now moving on which is fine and has a friend that wants to take over the tenancy straight away.
What is the best and most economical way of doing this keeping everything straight re deposits inventories etc, but keeping any agency fees if required to a minimum?
Thanks in advance
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Comments
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so you have multiple houses, 8 years experience, but no idea what to do? really?Hi,
One of my houses has been rented to the same person now for over 8 years and the tenancy has simply dropped into an SPT. She is now moving on which is fine and has a friend that wants to take over the tenancy straight away.
What is the best and most economical way of doing this keeping everything straight re deposits inventories etc, but keeping any agency fees if required to a minimum?
Thanks in advance
new tenant = new tenancy. Your choice if CPT from outset (if correctly worded) or the "traditional" 6 month AST followed by SPT or (if correctly worded) a CPT or another fixed term. There is no "taking over" other than the fact you have someone lined up so presumably will not have a void.
old tenant = inventory check out, agree damages if applic, return deposit.
new tenant = new deposit = new protection and inventory
your choice what to pay an agency for. By the sounds of it, it may be money well spent if you are so unsure. Then again the average agent is no more informed than you appear to be, so could be money wasted.0 -
What does your contract with the agency say? I can't read it from here.
What do you want them to do, if anything, with regards to ending tenancy A and setting up tenancy B?
How much do you know, if anything, about tenancy law? See
** Tenancies in Eng/Wales: Guides for landlords and tenants This thread is intended to provide information to both landlords and tenants relating to Assured Shorthold Tenancies (ASTs) in England and Wales.
Topics covered:
* Repairing Obligations: the law, common misconceptions, reporting/enforcing, retaliatory eviction & the new tenant protection (2015)
* Deposits: payment, protection and return
* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?
* Rent increases: when & how can rent be increased?
* Repossession: what if a LL's mortgage lender repossesses the property?
* New landlords: advice, information & links
* Letting agents: how should a landlord select or sack?0 -
Rent at below low-rent to the tenant and the arrangement will be most economical for him.Hi,.....What is the best and most economical way of doing this keeping everything straight re deposits inventories etc, but keeping any agency fees if required to a minimum?
Thanks in advance
http://england.shelter.org.uk/legal/security_of_tenure/assured_tenancies/tenancies_that_cannot_be_assured#2
And no deposit protection required (not an AST). And, if agency fees a %, low agency fees! What's not to like! If those agency fees are too high, simply fire agent, no more fees!....Tenancies at a low rent
etc etc etc....
Tenancies entered into on or after 1 April 1990 where there is no rent, or where the annual rent is £1,000 or less in Greater London or £250 or less elsewhere, cannot be assured.[19] ....
All absolutely legal.
How kind of you to have that thought!0 -
Are you including letting agents in this. If so you do not need any help from a letting agent if the new tenant is not associated with the present tenancy.Hi,
One of my houses has been rented to the same person now for over 8 years and the tenancy has simply dropped into an SPT. She is now moving on which is fine and has a friend that wants to take over the tenancy straight away.
What is the best and most economical way of doing this keeping everything straight re deposits inventories etc, but keeping any agency fees if required to a minimum?
Thanks in advance
I am in the midst of a dispute with my letting agents who take more than £800 a year from me and £100 from my tenant to answer yes in an email to each of us. So over £900 for 2 emails, so now I have learnt to read any contract carefully before I sign in the future, and I will certainly take out any clause which continues this contract ad infinitum if I ever use a letting agent again, which I doubt.
I now have to pay a huge sum to extricate myself from the contract with them.
With regard to the deposit you can google deposit schemes, there used to be 2 main ones but may now be different,this you can do yourself, and is compulsory. The inventory can also be done locally, also googled., and tenancy agreements can be bought from wh smith. and filled in by yourself.
Hope this is some help to you.0 -
Why are certain words highlighted in red?0
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We don't know what your contract with the letting agent says, what you are paying them for, or how much you are paying them. Do you think you get good value for money for the service they provide?
I'm not sure if your thread title is a typo or not. A CPT (Contractual Periodic Tenancy) is a type of AST as are SPT (Statutory Periodic Tenancy) and FTT (Fixed Term Tenancy).
All the information you need is in the links G_M has provided assuming that the property is in England or Wales. New legislation has been introduced since you first started letting such as the Right to Rent checks.
There are 3 deposit schemes available, again the information is in the links G_M provided.0 -
but in amongst the vague info from OP I decided that "She is now moving on which is fine" means both parties are content with the "loss" so why muddy the waters when OP appears to be after spoon fed answers on how to do a tenant changeovererrr..... how about valid notice, or Early Surrender? Or indeed Assignment?0 -
except OP does not seem to want feeding at all, by spoon or otherwise. Seems more interested in discouraging help than seeking it.but in amongst the vague info from OP I decided that "She is now moving on which is fine" means both parties are content with the "loss" so why muddy the waters when OP appears to be after spoon fed answers on how to do a tenant changeover
trolls just make one laugh.0
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