The Tenant Deposit Scheme
We will collect the Deposit of month and half together with initial rental payment from the Tenant at the commencement of the Tenancy.
We hold the Deposit in the capacity of Stakeholder. We do so under the terms of the Tenancy Deposit Scheme in a Specific Client Deposit Account.
Energy Performance Certificate
In accordance with the Government Home Information Pack initiative an Energy Performance Certificate (ECP) is required on all new lettings from 1st October 2008. This is now EU law and forms part of the Energy Performance of Buildings Directive from the EU.
The ECP will give a building an energy rating and will assist people renting a Property to assess the likely heating and running costs.
Types of Tenancy Agreements
You will need a comprehensive Tenancy Agreement setting out the rights and obligations of both parties
If the applicant is an individual and the net rent is less than £100,000 per year we will use an Assured Shorthold Tenancy Agreement. There is a minimum fixed term stay period of 6 months for such lettings. However, if the Tenant fails to surrender possession at the expiry of the term (and in accordance with your Section 21 Notice) you will need a possession order.
If the net rent payable is £100,000 or more per year or at a proportionate level for a shorter Tenancy, the Tenancy Agreement cannot be Assured Shorthold. You will need to use a Common-Law Agreement. These sort of contracts have little statutory security of tenure and are not protected by the Tenancy Deposit Protection.
Company Lets are governed by the underlying Common Law, the legal rules which regulated tenancies before the Rent Act and Housing Acts came along to change them.
This Agreement is intended to create a Company Let Tenancy for a letting to a limited company. It is therefore excluded from protection under the provisions of the Housing Act 1988 as the tenant is not an ‘individual’ as provided by Section 1 of that Act. This Agreement sets out your rights and duties as the tenant of this property along with the rights and duties of the Landlord. It should be signed by the Landlord and by an officer on behalf of the Company at the end to confirm they agree with it.