Providing a written contract or rental agreement is an important part of organising a successful tenancy. While the vast majority of landlords will have this aspect covered, there may be some private tenants renting property without a written contract.
A tenancy agreement is a legally binding document which gives the tenant the right to live in the rental property, and the landlord the right to receive rent. It’s therefore important that the tenancy agreements landlords are issuing are up to date and legally compliant. Due to the fast-paced nature of the rental sector, landlords who don’t employ the services of a letting agent could potentially be putting themselves at a higher risk with the contracts they’re supplying.
With all this in mind, we’ve taken a look at why tenancy agreements are vital and how one should be put together.
Why are tenancy agreements so significant?
Providing a tenancy agreement to your renters may not be a legal requirement, but if you intend to take a deposit – which the vast majority of landlords do – then it’s in your best interest to enter into a written tenancy agreement. What’s more, without a written tenancy agreement you won’t be able to claim possession of the property using the section 21 accelerated process once the notice has expired. One of the key criteria for being able to issue section 21 accelerated proceedings is having a tenancy agreement in place.
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