Newbie Landlord looking for helpful tips and general advice and the basics

Newbie Landlord looking for helpful tips and general advice and the basics

7:26 AM, 10th April 2017, About 5 years ago 13

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I am a newbie landlord trying to get some basic understanding and thought I would post for some help. I have a few manuals some incredibly long to read at some point, but I have a tenant moving in soon so just wanted to quickly pick up any tips and advice from those that are experienced in these matters.

My questions are as follows:

1. Assured Short Hold Tenancy Agreement – I am planning on going for a 6 month AST. I am not sure what happens at the end, do I need to write another one out if the same tenant stays on? I want to stay strictly within the law at all times and don’t want anything or mistakes to invalidate my insurance so would like to know what landlords generally do?

2. Notice to quit should it be necessary, I believe its 2 months with a 6 month AST? Is this correct? What notice does the tenant need to give?

3. The actual AST. I am going to use the one I found on .gov.uk website because I like the explanation notes throughout it for both the landlord and tenant. I have had a skim read of this but could not see anywhere to add your own ‘house rules’. Can these be added, or do we need to mention an appendix and add them in there? What tips and advice can everyone give regarding this? I know legally the tenant has the right to ‘quiet enjoyment’ but what exactly does this mean from a legal perspective. I just want to clearly state within the tenancy agreement things like making sure the flat is properly ventilated (I think that is referred to in the one I have downloaded), no smoking policy, no pets, no wild parties (lol) and anything else I think might be a problem. Can we just list our do’s and don’ts or does any of these put us in danger of making the AST not legally binding, I don’t want to do something and then find my AST would not stand up in a court of law because I did this or that, so I am really looking for the idiots guide to getting it right and staying on the right side of the law. Obviously I don’t want to be paying legal fees either before or after, hence I am asking for those experienced landlords for the benefit of their knowledge.

4. I am aware of the Rent to Rent legal obligation so will be drafting something up for the tenant to sign and taking a photo of their passport.

5. I am also aware of the Rent Deposit Scheme and will be doing this within the 30 days as I have already had this, does anyone have any advice on this not sure whether to pay the small fee and retain it or not? Just thinking its best to have it if you had any disputes at the end of the tenancy what do people think?

6. I have already used a third party and had the tenant referenced and credit checked and all looks good, am I missing anything?

Many thanks all.

Tony



Comments

by Alison King

14:46 PM, 16th April 2017, About 5 years ago

I agree that joining a landlord association is a good idea. They offer over the phone advice, example tenancy agreements and on-line training. I prefer not to use an agent as managing the properties myself is part of what makes it interesting and I don't want a barrier between me and the tenant. I let the tenant decide what sort of tenancy they want after the initial six months.
Good luck and enjoy.

by John Stabrawa

18:31 PM, 16th April 2017, About 5 years ago

I am not as experienced as others but from personal experience I would never use an agent. They have all been incompetent or crooks from not protecting the deposit correctly to one trying to steal the first months rent and deposit to one letting business proprietor advertising it with another agent, not telling his manager and I had to pose as a prospective tenant with the manager when we found it still advertised elsewhere after we had let to another tenant. That said you need to get the advice from somewhere and a good agent should be worth their weight in gold. Or join one of the organisations, do lots of reading and eventually do it yourself.

by Kevin McLandlord

22:32 PM, 23rd April 2017, About 5 years ago

I did about 2 months on and off constant reading; books and the Internet. Registered to every property forum I could find.

Whilst every experience is unique to you, it's probably happened to someone somewhere else who you can learn from; either how to do it or how not do it it, whatever it may be.

If you're good with people and a have commercial head on you, then you have a good foundation.

As with anything, fail to plan, plan to fail.

Good luck and enjoy!

It's exciting and I wish you all the best.


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