Law depot tenancy agreement?

Law depot tenancy agreement?

0:01 AM, 22nd August 2023, About 9 months ago 8

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Hello, just checking if anyone has used a LawDepot tenancy agreement. I’m in the process of giving my tenant a new six-month tenancy agreement (to replace the rolling one) with a small rent rise.

She agreed to this a few weeks ago and also understands that I will need to raise the rent considerably (to cope with mortgage interest rate rises) from April. Hence a six-month tenancy agreement, giving her plenty of time to find somewhere else, as she says she cannot afford the market rate. Estate agent friend says she uses LawDepot agreements and thinks they are OK.

Another question, just in case anyone has used one, the standard agreement says that upon signing the tenant must pay the deposit, but obviously the tenant has already paid the deposit. I wondered whether it’s just best to leave that in and score it through in pen, pointing to the ‘extra info’ section at the end where I can say that the deposit has been paid and is held by the TDS.

Any pointers are much appreciated. On another note, I like the look of the Law Depot agreement as there is a Rent Review Clause included.

Thanks,

Rebecca


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Comments

Seething Landlord

11:09 AM, 22nd August 2023, About 8 months ago

If it is in your mutual best interests for the tenant to leave as soon as she can find somewhere else to live, why do you want to tie her into a six-month fixed term? Is there any reason why you cannot simply increase the rent under the existing tenancy?

Graham Bowcock

11:16 AM, 22nd August 2023, About 8 months ago

I'm with Seething Landlord - what are you trying to achieve? If the current agreement is periodic, either of you can end it (on notice, of course). If youi go into a new fixed term you're stuck with that as a minimum. You wil also need to redo all the compliance stuff so will have to read carefully.

You could agree a rent review using a memorandum,, not a new agreement.

David

15:32 PM, 22nd August 2023, About 8 months ago

Better for you to just let the tenancy go periodic and use a s13 notice to increase the rent, (assuming that there is no rent review clause in the contract).

Fed Up Landlord

6:06 AM, 23rd August 2023, About 8 months ago

New agreement means re-serving all the prescribed information -EICR, How To Rent Guide, Gas Cert, EPC, and returning and re-protecting deposit.

Letting it go stat periodic and serving a Section 13 Notice for the rent increase is much easier and less work.

RebelReb

20:27 PM, 24th August 2023, About 8 months ago

Reply to the comment left by Seething Landlord at 22/08/2023 - 11:09
Hi - the intention is much more to give her plenty of time to find somewhere else before my mortgage interest rate rises in the summer. We agreed to discuss again at the end of February to see whether a: she might be able to pay more rent after all when the mortgage rate rises or
b: I might be able to charge less.
I'm happy for her to leave at any point before the end of the contract, as I will be able to re-rent the flat at a better price - and she's aware of that.
There's no need for her to leave before the end of April - actually 8 months time, so I'm doing an 8-month agreement. She's happy with this arrangement. I wanted to avoid a situation where I asked for rent rise which she couldn't afford and refused to pay, and got into a situation of having to give her much less notice to go, especially in light of the forthcoming Renters Reform Bill.
She's on a periodic tenancy now. As such, I didn't realise I'd have to return and reclaim the deposit, but if this has to happen, so be it. Re-issuing the other documentation isn't a problem - however, thanks for the guidance.

David

15:53 PM, 28th August 2023, About 8 months ago

You can give her as long as you like on a periodic tenancy. One of mine has been on one for 10 years now. However it gives you no flexibility if you issue a replacement tenancy.

Graham Bowcock

17:45 PM, 28th August 2023, About 8 months ago

I've been wondering too about why the OP wants to enter a new fixed term agreement. There is no benefit to the landlord in this.

The landlord needs to be sure to understand that whether or no the tenancy is fixed term or periodic, the notice procedure is the same and neither guarantees the tenant leaving on a particular day.

Knowing that the landlord wants the house back at some point, the best thing it to leave the tenancy on a periodic basis.

Seething Landlord

18:32 PM, 28th August 2023, About 8 months ago

It's a mystery to me as well. The reasons she has given do not seem to make any sense but I get the impression that her mind is made up. I just hope that she is not assuming that a new fixed term of 8 months will guarantee possession if she requires it at the end of that period.

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