The tenancy agreement is another must-have document that should be ready for the day your tenants are due to move in. Don’t waste your time trying to draw one up yourself: seek the services of a professional. Either a solicitor or a regulated letting agent can do this, and they will be able to create a legally binding document. Without this contact in place, anything could go wrong!
It is important that this document is clear to read and is written in plain English, but above all else, the contents of it must be legal, which your solicitor or letting agent will help ensure.
If your property has any unusual features or you are including any extra services as part of the agreement, these should be included in the tenancy agreement. These additional clauses could cover the use of outdoor areas, provision for pets or the use of your personal items that are stored on the property. Whatever non-standard items that are not covered in a regular tenancy agreement can, and should, be appended to the document by someone authorised to do so.
To protect yourself from any unforeseen changes in the availability of your property, don’t sign the agreement until move-in day, just in case you have to back out for any reason. If you both sign the agreement before the moving in date, and the property isn’t available on that day, you will be liable for finding alternative accommodation for the tenants, which could be very costly and time consuming.
Another important task you must complete is providing your tenants with a valid UK address. This is so that they can serve notice on you should the need arise. With providing this address for them, they aren’t legally required to pay you any rent! Hopefully the tenancy will run smoothly and they won’t need to use this address but it must be provided so make sure you comply.