Looking to rent out your property? Here’s what you need to know…
Renting out your property may seem like an easy source of income but it can be a legal minefield. You may have to pay tax on the income you earn and if there are disagreements between you and your tenants it can quickly become a drain on your time and resources.
Look after your interests, be prepared
Being prepared is the key to ensuring that your tenancy arrangement goes smoothly. At Prydis we have a great deal of experience and know the most common difficulties that can arise. We are prepared to look after your interests. By talking to us first you know that your interests are protected.
How we look after you
At Prydis we deal with all areas associated with landlord and tenant law and we are highly skilled in settling disagreements. However prevention is better than cure and before you find a tenant we can help you decide the terms of your tenancy agreement. Only at this point do we draft your tenancy agreement and it is specifically tailored to your needs.
Keeping your costs down
Residential Tenancy Agreements from just £120+Vat!
Most tenancies used by private landlords these days are assured shorthold tenancies. These normally last for a period of six months and the tenant has fewer rights to stay at the end of the tenancy period. We charge £75+Vat for the preparation of a standard assured shorthold tenancy agreement.
Talk to us first
Ideally you should contact us as soon as you start thinking about renting your property out. This will give you a clear idea of the terms to offer any tenant you are considering. We can:-
- Explain the different types of tenancy agreement and identify the most suitable for you
- Draw up or check a tenancy agreement for you
- Highlight the essential requirements and terms of your tenancy agreement
- Explain any related legal issues
- Warn you of any pitfalls including advice on how to end an agreement
- Give you advice on the type of tenant references to ask for
The tenancy agreement is a contract between you and your tenant which clearly sets out these rights and responsibilities and is legally enforceable. This keeps disagreements to a minimum because both parties know where they stand.
Please remember that all deposits taken by landlords must be held in a government approved tenancy deposit scheme. You must provide the tenant with details of the scheme and how it operates within 30 days of receiving their deposit. Failing to do so could result in a court summons and a subsequent fine. We can advise you about the various schemes available and the information which must be supplied to the tenant.
It is important not to let the tenant take possession of the property unless the tenancy agreement has been signed by both the landlord and tenant.
If you do have a disagreement with your tenants then there are several ways that we can help. We can check your legal rights, adapt a tenancy agreement, negotiate a solution or take court action.
Obtaining possession of a property from a tenant is a complicated process which involves the serving of various notices on the tenant which can be invalid if complex procedural requirements are not met. We can draft the notices you will need and then conduct the possession claim on your behalf through the County Court.
There are various grounds on which you may seek possession of your property and we can advise you as to the most effective way of getting your property back from a problem tenant.