Are you looking for a FREE tenancy agreement?
It’s fairly easy to find a free tenancy agreement that you can download. Many new landlords that are looking to rent out a property for the first time will look initially for a free tenancy agreement. However, there are several factors which you need to be aware of in sourcing your free tenancy agreement.
A tenancy agreement sets out the landlords and tenants’ rights and responsibilities. Therefore, it’s important that any solicitor that prepares this free tenancy agreement is suitably experienced and qualified. Make sure that you can check out the source of your free tenancy agreement and that it has not just been ‘cobbled together’ by an unscrupulous website which is trying to flog you discounted property. Otherwise you might find that the free tenancy agreement is not worth the paper it’s printed on and might end up costing you in the future.
One advantage of some downloadable free tenancy agreements is that they are instantly available and are available 24/7. This means as a landlord that you do not have to make arrangements to buy the agreement from your solicitor or stationer.
Should you feel uncomfortable about not paying or receiving a free tenancy agreement – I know some people that are. You should expect to pay between £5-10 for a properly drafted assured shorthold tenancy agreement. Many of these are available to be downloaded from the internet and some companies will offer additional rental forms with the assured shorthold agreement. These are often referred to letting packs and enable landlords to extend the tenancy, bring the agreement to an end or raise rents.
With all this talk about forms and Free tenancy agreements I am frequently asked
“do I really need to bother with a formal agreement?”. Well the short answer is actually no. You may be surprised to discover that you can grant a tenancy verbally; providing the following conditions are met:
∑ it takes effect on the day it is granted
∑ it is for a term not exceeding 3 years, and
∑ it is at the best rent which can reasonably be obtained without a premium being taken (one off capital payment for the beneficial interest of the lease)
However, I would never recommend this, even if it is to a friend or relative. This is because the enforcement of possession or alteration of the terms is more expensive without the documentary evidence of a tenancy agreement, because accelerated proceedings are not available.
Therefore, my advice is ‘go for a Free tenancy agreements’ if you can find one. However, make sure that the agreement is traceable to an appropriately qualified solicitor before you start using it.
Article Source: http://www.propertymagnate.com/articles
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