| FAQ's
What is a Tenancy Agreement
A tenancy agreement is a legally binding
contract between a landlord and tenant that sets out both
the legal and contractual responsibilities and obligations
of the two parties. It should be written in plain and intelligible
language (no unnecessary jargon!) and its terms and clauses
should be fair and balanced, taking account of the respective
positions of the parties and should not mislead about legal
rights and responsibilities. Landlord and tenant should
take care to individually negotiate any particular terms
or conditions that are important to them or especially relevant
to the particular let or property. It is usual for landlords
to sign the Tenancy Agreement themselves, however, Stephenson
Residential Lettings Ltd reserves the right to sign Tenancy
Agreements and other relevant documents on behalf of the
Landlord unless otherwise stipulated. It is important therefore
that we are given clear instructions regarding the length
of time the property will be available for letting.
Tenancies will take one of two forms
being either an Assured Tenancy or, more commonly, an Assured
Shorthold Tenancy. Recent legislation under the 1988 Housing
Act (amended 1996) has determined that unless specifically
shown in a written agreement any new tenancy created will
be deemed an “Assured Shorthold Tenancy” (an
AST). This type of tenancy offers the most flexibility to
both landlord and tenant; has straightforward notice procedures
for bringing the tenancy to an end and a special Accelerated
Possession court procedure should tenants fail to vacate.
Whilst the Agreement may stipulate that one month's Notice
is required from the Tenant to terminate at 6 months, the
Law entitles the tenant to ignore this and merely hand in
the keys to the property at the end of the first 6 months.
Once the 6 months has elapsed, our Agreement
is so worded as to permit the automatic continuation thereof
on a month-to-month basis. The tenant may terminate the
tenancy at the end of or any time beyond the first 6 months
by 1 months previous Notice in writing. The timing of the
service of a Notice has been the subject of litigation and
needs to be supervised very carefully in order to conform
as a valid Notice.
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What Happens If The Tenant Doesn’t
Move Out After The End Of A Tenancy?
If a tenant does not move out after tenancy
has been lawfully terminated then the landlord can apply
to the Courts for a possession order. Under the Accelerated
Possession Procedure (which can be used where the tenancy
was an AST) the process is usually fairly quick and inexpensive.
What if the Tenant Breaches the
Tenancy Agreement?
Occasional inspections of the property
will be undertaken and where appropriate a report will be
submitted. Should the tenant be in breach of the terms of
the Tenancy Agreement or fall behind with rental payments
you will be informed accordingly. If it becomes necessary
to take legal proceedings against the tenant or any other
party we can give help and guidance but you will be responsible
for instructing a Solicitor and be liable for all fees and
disbursements arising.
What is an Inventory?
This is an absolutely essential document
that provides a written benchmark detailing the fixtures
and fittings and describes their condition and that of the
property generally. We will always undertake to provide
a full inventory of contents together with a schedule of
condition and example photographs (where possible). This
will be attached to and form part of the Tenancy Agreement.
The Inventory is checked by us upon the tenant’s checkout
and before the return of the security bond/deposit. Shortfalls
in condition or damages will be assessed and suitable compensation
agreed although it must be understood that 'fair wear and
tear' provisions apply to all tenancies. Compensation will
be deducted from the bond. - top
Do you take a Bond/Deposit?
In all cases, Stephenson (Residential
Lettings) Ltd will secure a bond from an ingoing tenant
prior to the taking of possession. The Bond will comprise
of a sum which is in excess of on months rent. Stephenson
(Residential Lettings) Ltd will act as stakeholders in the
matter and the monies taken will be kept in a dedicated
‘clients accounts’. No interest will be paid
to either party.
As from 6th April 2007 the Government
introduced amendments to the Housing Bill which means that,
neither landlords nor agents will be able to hold on to
the deposit during a tenancy unless they are part of an
approved scheme.
The legislation requires tenancy deposits
to be safeguarded explicitly by schemes which also provide
for the resolution of any disputes over their return. The
Government awarded contracts to three companies to run its
tenancy deposit schemes on 22 November 2006. The three schemes
are: The Deposit Protection Services (The DPS) which is
a custodial deposit protection scheme. Tenancy Deposit Solutions
Ltd (TDSL) which is an insurance based tenancy deposit protection
scheme and The Tenancy Deposit Scheme (TDS) which is also
an insurance backed deposit protection and dispute resolution
scheme.
To protect your interests we have therefore
joined the Tenancy Deposit Scheme (TDS). It is supported
by the Association of Residential Letting Agents and the
Royal Institution of Chartered Surveyors.
The Scheme will allow us to continue
to hold deposits on your property. If there are disputes
over how they should be allocated which we cannot settle,
they will be referred to the Independent Complaints Examiner.
He will adjudicate within 10 working days of receiving all
the necessary papers.- top
What about Landlords Protection?
We will obtain a detailed Tenant Assessment
prior to the start of the Tenancy which includes employers’
reference, previous landlord’s reference plus a comprehensive
credit check. We are authorised introducers to Homelet who
are a specialist provider of Landlords insurance and rent
guarantee products which are available at a competitive
premium. If you would like further details on this, please
do not hesitate to ask.
NB: This booklet is intended as a brief
and general guide only and is not intended to serve as a
full assessment of the rights and obligations of a Landlord
of residential property. The law relating to Landlord &
Tenant is extensive and particularly complicated. Professional
advice is, therefore, considered an essential in protecting
the Landlords interests. If you have any questions, please
do not hesitate to contact us.
IF YOU HAVE ANY
OTHER QUESTIONS PLEASE DO NOT HESITATE TO CONTACT US.
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