The start of a Tenancy Arrangement is the time when you will need the most paperwork to be completed. If you get yourself well organised early on, you can prevent a great deal of misunderstanding and head ache later down the line - particularly if you have problems with a tenant.
Firstly, I recommend that you get a written Tenancy Agreement in place. Although there is no actual legal requirement to do so, there's a strong case for getting things between you and your tenant formalised from Day 1. This will help prevent issues and misunderstandings occuring later down the line - which could prove problematic and costly. Click here to read article on Tenancy Agreements - Why they're a 'must'.
You should also familiarise yourself with the differant types of Tenancy Arrangement in existence in the UK today. Click here to read up on the various types of Tenancy that you might come across.
Below are a number of relevant templates and forms that you may find useful when starting a new Tenancy Arrangement.
Assured Shorthold Tenancy Agreement
This is what most private landlord / tenant arrangements use to formalise the agreement. It is only valid for an annual rent of less than £25,000. Click here to download an example Assured Shorthold Tenancy Agreement.
If you are letting to a Limited company, you will need to use a company let agreement. Company Let agreements generally give the Landlord more rights than under an Assured Shorthold Tenancy Agreements. Click here to download an example Company Let Arrangement.
Holiday Lets - If you own a property that is suitable for short term or holiday lets, then this can produce greater returns than a longer term let. There are lots of factors to consider when thinking about renting a property out as a holiday let. A Holiday let is a completely different type of tenancy and the correct tenancy agreement must be used. Click here to download an example of a Holiday Let Agreement.
Room Lets - If you are renting out rooms in your property you need to use a customized version of an AST. This agreement grants the tenant an exclusive tenancy over a room in the house and rights to share with other occupants, the communal areas such as lounge, kitchen and bathroom. You may wish to customise the agreement with any specific house rules which you
wish to add. Click here to download an example Room Let Agreement.
You need to come up with a list of every item of yours that is left in the property.
The inventory should be signed at the beginning of the tenancy and checked at the end of the tenancy to ensure the property is returned in the same condition (less fair wear and tear). Click here to download an example Inventory.
When a new tenant moves in make sure you inform the Council Tax authorities so that bills are sent to the tenant. Some local authorities insist you send them a copy of your tenancy agreement so check with your local Council to find out whether this applies to your area. Click here to download an example Letter to Council regarding Council Tax
As with council tax, you should also inform gas, electricity and water supply companies of your new tenants. Click here for an example letter to Utilities Companies.
At the beginning of a tenancy you will receive a large sum of money from your tenant, one months rent and one month’s deposit. The tenant is entitled to a receipt and you can customise this template to suit your needs. Click here to download an example Start of Tenancy Invoice