Page 23 - A&P Guide to Lettings

Tenancy administrationArnold & Phillips will draw up a suitable Tenancy Agreement with any stipulations you might have. This is a legally binding contract between both parties. The contract will clearly set out the contractual obligations that are binding to both you are your tenant(s). Any special conditions that may apply will be included. Signing the Tenancy AgreementThe two types of tenancy that can be created when letting residential properties are: - Assured Shorthand Tenancy (AST) - Contractual Tenancy. Different criteria apply to each type of tenancy and depend on whether the tenant is an individual or a company and the amount of annual rent etc. It is vital that the Tenancy Agreement is professionally drawn up, includes all the necessary provisions and up to date legislation. We will send you and your tenant a copy of the agreement to make sure you are happy with it before it is signed. You will need to send the signed agreement back over to us before the start of the tenancy. InventoryA thorough inventory list will help to minimise any dispute over the deposit at the end of the tenancy. It is necessary to have a detailed Inventory and Schedule of Condition that is written up and checked over by a professional inventory clerk; we can arrange this on your behalf. These documents will record, in detail, the state and condition of the property and furnishings before the tenant moves in. It is also necessary to have a professional deep-clean of the property, which will include any carpets and soft furnishings. The tenant will be responsible for returning the property and all contents in the same condition as they were recorded as on these documents. Tenancy Deposit ProtectionAny landlord who takes a deposit from a tenant for an Assured Shorthand Tenancy must safeguard it in an approved tenancy deposit scheme. As members of the Tenancy Deposit Scheme, which is administered by The Dispute Service Ltd , any deposits we hold will be protected by this scheme. Check out The Dispute Service website for more information thedisputeservice.co.uk.