What is a Periodic Tenancy Agreement
Most tenancies are fixed. Which means they have a specific date they are designed to last. Therefore, a tenancy agreement in itself is a contract between a landlord and a tenant to give the latter the right to use a property belonging to the landlord as their main residence and the freedom to quiet enjoyment and for the landlord to collect rent on the property. However, when the fixed term expires, the tenancy automatically begins running on a periodic basis if no new contract is drawn. The terms of the fixed tenancy agreement would apply except the payment of rent would no longer be say 12month as is common in fixed term but would be paid monthly/weekly/bi-weekly; basically as is agreed by both parties. This will continue for as long as both parties are interested. In the event that either of the parties wants to sever the periodic tenancy, a notice is needed and is served to the other party. Most people think that once a fixed tenancy term ends, the tenancy will be automatically terminated. But that is not so. For that to happen, there are legal processes that needs to take place before they become terminated.
Landlords.org.uk Tenancy Agreement
About Landlords.org.uk Tenancy Agreement:
The National Landlords Association is an association of landlords which aims to help them both abide by the many strict regulations guiding house letting and lobbying government agencies to make regulations that are favourable to landlords. They sensitize their members on their statutory rights and responsibilities both to their tenants and the government. They are currently representing a membership of over 82,000 landlords. Their membership is diverse and range from landlords with large houses to those with just single bedrooms.
As the largest association of landlords in the UK, they strive to create a balance between landlords, tenants and agents so that each party is satisfied with any business relations they enter into. This is why the summary of all of their government lobbying is aimed at achieving a sustainable PRS that works for everyone- landlords, tenants and agents. Unlike most other associations, NLA has specialized the many services it renders to its members.
NLA offer independent property inventory and at a subsidized rate to members. Their property inventory, midterm inspections and check out inventory help reduce tenancy disputes and to stay on top of government regulations. Their reports help keep tenants in check and protect the landlord’s property since it shows what their property is and all it contains so that the tenant is properly held accountable for any damage or theft.
They also offer Landlords true peace of mind with their Rent on Time scheme which helps them manage the rent collection process. It also helps with residential management and the planning that goes into protecting the cash flow from property investment. This way, the landlord has as much peace of mind as is possible in the industry. It also has its own highly recommended deposit protection scheme which helps in protecting deposit with a government scheme within 30 days of receiving the deposit.
They offer members a very effective property repossession and rent protection services, mortgage and property insurance. Landlords can also rely on NLA’s tenant referencing services to help them make the right choice in tenant screening process.
About the National Landlords Associations Tenancy Agreement:
The National Landlords Association tenancy agreement template begins with boxes to indicate whether the agreement is for a furnished or unfurnished house. Then the particulars begin with fields provided for the landlord’s full name, address, postcode and telephone number for daytime and another for nighttime. This template is ideal for when a landlord lives relatively far from his property. For the tenant, the template provides fields for entries for four tenants. Of course, this implies the number of adults who would be staying with the tenant as their sole or main residence and who may be his children but are older than 18.
The template is favourable for a periodic tenancy agreement since it is concise with fields that detail the address and postcode of the property. There are fields for the contents of the property provided in the inventory and boxes to tick the different shared locations of the property like gardens and parking spaces. Now, the main terms of the agreement covered by the template include the maximum number of permitted occupants of the house being let, the term of the tenancy which should be edited from fixed to periodic and the the commencing and ending dates deleted off. The Rent section can be deleted totally or tweaked to reflect the terms of the periodic tenancy agreement and just the amount that is the rent stipulated.
The template provides boxes to tick the utility, council taxes and charges for services to be paid by either the landlord or the tenant. This makes it easier for the user to quickly map out the various fees payable to avoid any owing of services fees should the periodic tenancy end abruptly. It makes use of both boxes and fields to stipulate the paying of deposit: the amount, how it would be held, when it was paid and if any deposit would be taken at all.
rla.org.uk Tenancy Agreement
About rla.org.uk Tenancy Agreement:
The Residential Landlords Association is an association with a membership of over 30,000 landlords all around the country. They aim at securing the interest of their member landlords by seeing to the amendment of regulations that may disfavour landlords and empowering them to manoeuvre through the government regulations already in place in the industry. It is basically a growing community of landlords with over a quarter million properties in their portfolio which has come with lots of experience in lobbying the government for the members interests. In fact, their main mission is to campaign in governments and parliaments for their members.
There is an RLA landlord advice team which landlord’s can call at any time to get advice on any property management issue or emergency. Nonmember landlords can also join on their website to access the service if they need it. They also offer specialized landlord insurance to members which is better and different from the standard home insurance which is usually not able to cover most of the risks associated with letting your property to strangers no matter how thorough the tenant background check was. Landlords who are members can get up to 30% discount on property insurance from.them. Some of the specialized landlord insurances the association offers include: commercial insurance, tenant contents insurance, UK holiday home insurancerent and legal protection and owner occupier insurance.
RLA also offers its members comprehensive tenant checks services and energy energy performance certificates. It makes use of its service provider, Eco-energi, to provide its landlord members EPCs for £65. The certificates helps in easing the house letting process since it passes every government regulations and helps prospective tenants make a positive decision on the property. Their tenant referencing service, however, is free of charge to members and has an average response time of forty-eight hours. It aims at reducing risks to landlords which is why the checks carried out are extensive and with advanced technology.
Other services provided by RLA include TradePoint Card, DepositGuard, Energy Efficiency Funding, Utilitease, RLA mortgaging, inventory plus, Business Support Helpline, The Landlord Essential Library, Discounted Hotel Booking, and many other services and property management trainings.
About The Residential Landlords Association’s Periodic Tenancy Agreement
The Residential Landlords Association’s periodic tenancy agreement template covers the details of the parties, the deposit for where applicable, the main terms of the agreement and the signature pages. It is noticeably different from a fixed tenancy agreement’s template so that you don’t have to do much work on editing and deleting irrelevant portions. It begins with fields where you enter the date the agreement is drafted, landlord’s name, address, that of the tenant, the amount that is the rent and the schedule of the rent collection( one calendar month, 4 weeks, 2 weeks and 1 week).
There are boxes where both the landlord and tenant appoints a tenant who would serve as a representive where there are more than one tenants in the agreement. It also provides, in the same section, boxes for the payment of deposits by more than one person, if applicable. It details the use of the contents of the house, indicating that the periodic tenancy lasts for as long as the tenant continues to pay rent on the property. The user is provided a box to enter any other tenant to whom the house is rented to, emphasizing the persons allowed to be housed by the tenant.
In the event that a field is not applicable to the agreement, you are to indicate that with “nil” on the boxes provided like the amount of deposit provided. Also, the template covers the tenants obligations including a reminder fee. The user will enter the amount in the box provided already. It also covers what the tenant is expected not to do which includes the alteration of any part of the property and any other shared part. The tenant is not allowed to hang pictures on the walls of the room without the landlord’s permission.
The template covers the landlord’s obligations which includes the insurance of the property in case of fire incident or any comprehensive risk. In the event that the tenant needs to serve the landlord any notice like a termination of the periodic tenancy, the template stipulates that it should be served by hand or by post. The template provides a box where the landlord can enter the postal address. The landlord and the tenant will append their signatures in the box at the bottom of the template.
Gaagency.co.uk Tenancy Agreement
About The Guilford Accommodation Agency Tenancy Agreement:
Guilford Accommodation Agency is a property management company with an interest in making accommodation easily available to students. In providing for the demand in student housing, the agency aims at meeting the requirements of every landlord so that if you have a property to rent in Guildford, they will be able to arrange a no-obligation and up-to-date market appraisal for you. The agency is made up of a team of experienced professionals with expertise in managing all types of residential property from new buildings to period conversions, one bedroom flats to those with about 8 to 9 rooms. They market every property listed on the website directly to ACM students and keep a close eye on each property to know how well it is performing. Having done this, they make sure to provide constant feedback to both landlord and tenant so that everyone involved will have an up to date idea about how it is performing.
Their website offers a wide variety of residential listings all around Guildford so that those seeking to rent a house could register with them and begin saving some appealing homes to rent. The only fee they charge is the agency fee which covers every aspect of setting up your tenancy. The processes include getting the necessary documents, tenant referencing, and others. However, they conduct another round of checks for all prospective tenants and each of them has to provide a guarantor or pay a higher deposit.
The students lettings are all equipped with a bed, chair, hanging space and a desk in every room. However, the shared furniture they provide vary from property to property and tenants are expected to check properly at the viewing for details of where they are staying. Prospective tenants are given a 6 week period to complete all forms of paperwork once they have secured an accommodation and paid the agency fee. Failure to do this may result in the of the property. The agency will ask you to provide a guarantor who, preferably, should be a homeowner. The reason being that most people looking for a periodic tenancy are mostly students and who always never have a credit history to help ascertain whether they would be able to pay rent on time. Tenants can also make maintenance question to Guilford Accommodation Agency by just providing their personal detail, a description of the problem which includes details and the room number.
About The Guildford Accommodation Agency’s Template:
A fixed tenancy agreement is the same as a deed. Which is why Guildford Accommodation Agency’s periodic tenancy agreement template is not a deed. It indicates that it is not to be used as a deed. The template covers the definition and interpretation of major terms used in the agreement, personal details of the parties, deposit, mandatory ground, the tenant’s obligations, administration and other costs to be covered by the tenant which is not included in the rent and proceedings of the ending of the tenancy which, of course, should serve as a notice, being a periodic tenancy agreement.
Some of the terms defined under the “definition” clause include administration costs, cleared fund, deposit, deposit holder, fixtures and fittings, head lease, joint and several, landlord, landlord’s agent, and so many more. The definition gives the interpretation the terms hold as far as the agreement is concerned so that every interpretation is drawn from it.
After the detailed mandatory ground, the template presents fields foente provision of “summary of core terms” which is basically the start date of the tenancy and other necessary personal details of both parties. The template provides that payment be made before the signing of the agreement while the subsequent payment of rent is pay calendar month and can be edited to suit the present agreement by the user. Also, the user is allowed to delete the termination of tenancy box to fit into the periodic tenancy agreement he or she is preparing.
The template provides a deposit box which is to be paid before the agreement is signed if it is applicable in the present agreement. It is quite detailed about deposits and it ends the deposit clause which stipulates that the deposit would be safeguarded by the Tenancy Deposit Scheme and administered by a person which the landlord or tenant will have to provide in the box provided for it.
The tenant’s obligations are divided into 20 subsections. Under the obligations of the tenant, the template covers the rent, the administration and other costs, services, correspondence, how the tenant is permitted to use the property and maintain the garden if any is available, storage, insurance and absence from property for a period of about two weeks so that the landlord and his agent can consider the level of risk on the property that would be raised by the tenant’s prolonged absence from the property.
Housing.london.ac.uk Tenancy Agreement
About The University of London Housing Services Tenancy Agreement:
The University of London Housing Services is a department in the University of London which is one of the oldest universities in the world; established in 1836. The website is dedicated to the university’s Private Housing service aimed at supporting the university’s students with getting accommodation and who are interested in getting private accommodation. At any rate, the department’s services aren’t limited to just those studying in the University of London. Students from surrounding colleges are also eligible to use it.
Like other property management and property listing agencies, ULHS has designed schemes for agents, landlords and other experts who are in turn advertise their vacant houses and rooms online especially on ULHS’s website to students and staff who are looking to rent. They have a team of experienced advicers who help counsel students who are about signing a tenancy contract. The task of this team is to help the students look out for unfair clauses in the contracts to avoid them suffering the repercussions later on. There is another Legal Advice team who help both students and staff when they are experiencing accommodation problems. More so, they organize selection events for students and those working in student accommodation. The aim is to offer housing talks, forums, trainings to students looking for accommodation especially for the following academic session. The event also includes a flatmate finder session for those looking not to stay alone.
The department also runs an advertising programme for private landlords which allows them to advertise their property to the university students and those of other colleges of the university and other universities around. They do same for letting agents. However, registered landlords and letting agents who are to advertise on the department’s website are expected to abide by its code of conducts. Some of the guiding rules include complying, at all times, with all the guiding rules of property advertisements and to ensure that you, as a landlord or letting agent, advertise only accommodations you have a right or authority to do so. Registering Landlords and letting agents are expected to go through the clauses of the code of conduct before they are allowed to start making use of the website’s resources. The aim of the code of conduct is to ensure students are treated fairly in their search for private accommodation.
About The University of London Housing Services Template:
This periodic tenancy agreement template begins with an indication of the parties involved which is between the landlord, who is required to indicate their name on the field provided and the tenant who is the University of London referred to in the contract as “the tenant”. It provides a box for the property the agreement is drawn for and which includes the contents of the accommodation and which is to also be indicated in the box. The user can delete the term of tenancy field since it is a periodic tenancy agreement and go on to indicate the rent, the day of the month it is to be paid subsequently, the full date of the first payment and the beginning of the tenancy.
The landlord is expected to provide an address where all notices like a proposal for the termination of the periodic tenancy agreement must be served him. The template provides a spacious field for that. The template cover a general clause which indicates that no periodic tenancy will be entered into at the end of the fixed term. However, the user is allowed to tweak the clause so that it can be used for a periodic tenancy agreement.
It also covers a Permission to Sub-let clause which gives the tenant the right to sublet some parts of the property to other students and an Ownership and Permission to Let clause. Indicated in the agreement is the landlord’s obligations which includes the repair of structure ajd exterior. The landlord is expected to grant the tenant the right to quiet enjoyment of the property and to desist from any racial harassment. The signatory page contains fields for both party’s signatures.
Pims.co.uk Tenancy Agreement
About The PIMS.co.uk Tenancy Agreement:
PIMS.co.uk are a landlord legislation and management agency whose team specializes in the publication of materials used by both landlords and letting agents in property management. Their services are used by thousands of landlords and letting agents across the country. They have been in the private residential sector for over 25years and are fluent in all government legislation concerning house renting and they stay on top of updates in the sector. The agency helps landlords and letting agents understand all the complex letting and tenancy rights and obligations there are. There helplines, which are always open, is very beneficial to landlords since they are equipped and experienced to engage every question or situation they are presented with. As a member, you gain unfettered access to all their services like free documents, guides and handbooks.
PMS.co.uk’s Preparing to Let scheme help turn amateur landlords into professionals and help guide them through the complexities presented by strict government regulations. This way, they are able to avoid heavy penalties attached to breaking them. They also serve to guide the landlord through the tenant vetting process in order to avoid letting to bad tenant since evicting even a bad tenant can be a tricky deal. You will find tips on the issue on their website too.
The agency provides guidelines on how a landlord can go about debt recovery. Most landlords and letting agents do nor have the expertise to go about debt recovery from say a tenant who left without paying off their debt, have caused damage on their property and has refused or haven’t been able to cover the costs. Landlords can now apply online using the Money Claim On Line.
About the PIMS.co.uk Template
The template covers the date of the contract’s execution, the details of both parties and the tenant’s guarantor, if applicable. Line 2 provides a field for the landlord’s address which doubles as the address to where the tenant is to send any notice. The box provided by the template indicates a maximum of 4 tenants while the one for a guarantor but stipulates that the periodic tenancy agreement doesn’t need any guarantor. However, a landlord may deem it fit to ask for a guarantor in the event that the tenant poses high financial risk and the presence of a guarantor in the agreement would then serve as an extra layer of security.
The following clause covers the property. There are boxes to indicate the condition of the accommodation- furnished, semi furnished and non furnished. The user (landlord or letting agent) would have to mark against the box that best describes the accommodation being let. This clauses also contains boxes for declaring the landlord’s possessions listed in the inventory and the limit of the property being let – a room, a flat, the entire property, and so on.
The following three clauses cover the term, payment and the deposit. The term section should indicate the beginning and ending of the tenancy but there is provision for it to be deleted since the user is drafting a periodic tenancy agreement instead of a fixed one. It notes that the tenancy agreement continues till a notice is served to the effect of its termination. This, of course, is in a case where the periodic tenancy agreement follows the end of a fixed one. Payment clause include the rent, the collection date and other service fees to be paid by the tenant or landlord while the deposit, where applicable, should also indicate the amount. Where it is not applicable, the user should indicate with “Nil” on the box provided for it. There is also a section for additional information to be provided. Some of the additional information to be provided include energy performance certificates, gas safety certificate and so on. The user is to tick against the available ones on ghr boxes provided for them on the template. Other clauses discusses the landlord’s and tenant’s obligations, maintenance of the property, insurance, inspection, when the agreement ends and the termination of tenancy. The template ends with the signatures, addresses and date of signing of both parties and that of a guarantor where it is present.
Space.uk.net Tenancy Agreement
About The Space.uk.net Tenancy Agreement:
Space is a UK based company that specializes in residential letting, property management and property sales. They aim at satisfying the needs of landlords and tenant. Their trick is using quality advert to attract good tenant to your property and a system of matching tenants with landlords who are looking for their kind of people. On their website, there is a wide variety of properties available for letting ranging from single rooms, flats to the whole building.
Space letting has established itself as the biggest student letting agent housing over 750 students each year. In Reading, there are no other letting agency as experienced and equipped as Space Letting. This means they are the first choice listing site for landlord. The implication is that at every start of the session, they have more than enough property listed to cater to all kinds of budget type and disired area. They employ basically local skilled with over 35 years of experience in property letting and management to better serve their student client base.
For landlords, Space is a very useful resource. They take away the stress of property management from.your hands. From putting up quality advert on their website to arranging for the tenancy agreement for you. They will take the deposit, get the first month’s rent. They cover Deposit protection, Collecting Rents, Chasing late or unpaid rents, Maintenance call outs from tenants, Gas safety inspections (separate charge), 24 Hour call out service, Check in, Check out, Tenant deposit disputes, Serving of legal notices, Periodic property inspections, and arranging for professional Inventories which, however, has a separate charge.
About The Space.uk.net Template
The template begins with a description of the tenancy agreement it can be used for which is one below 3years for fixed tenancy and is editable for periodic tenancy agreement. The following clause contains the definition and interpretation of the major terms used in the tenancy agreement. Some of these terms are the premises, landlord, tenant, joint and several, liability, superior landlord, head of superior lease, fixtures and fittings, water charges, consent of the landlord or his or her agent, and a few others.
What follows is a field for the binding date of the agreement and details of the landlord. The detail include the landlord’s name and address. Before that of the tenant, there is also provision for the landlord’s agent who is referred in the agreement as the “managing agent of the landlord”. The template does not indicate the maximum number of tenant the agreement can cover but includes the address of the premises and parts of the building that is not included in the tenancy agreement like the garage. The templates include boxes for the initial commencement of the periodic tenancy agreement, the rent and which day of the month is it to be collected and the deposit to be made on the house and on which day it is made.
It also discusses general teeyms of the agreement like the use of the property, its maintenance, insurance, locks and security, fixtures and fittings in the premises, liabilities and utilities.it covers how both parties has to proceed at the end of the tenancy and each of the fields and clauses are editable so that the entire agreement is tailored to the needs of both parties in a periodic tenancy agreement.
Theonlinelettingagents.co.uk Tenancy Agreement
About The Theonlinelettingagents.co.uk Tenancy Agreement:
The Online Letting Agents was set up in the light of the high cost of street letting agents. It aims at providing attractive advertising packages to landlords. It doesn’t have a street presence but with its online presence coupled with its team being made up of very experienced and passionate directors and friendly staff, they are able to provide every landlord with all they need to let their property at the highest value. They are always online and prepared to respond to any query you might have. Their customer care is quite unique and poised to giving every landlord who comes for enquiry maximum satisfaction.
You can advertise on their website through an easy step. Just register your property using their property loading system. Then, pick the advertisement package you want and they will check and upload your advert on major letting websites (according to the package you have chosen). They offer Managed Packages to landlords which come in two parts: partly managed and fully managed. The first is specifically designed for landlords who want to oversee the maintenance of their property while the Online Letting Agents manage the rest. However, in the full managed package, the agency sees to every aspect of the management process.
The agency covers every aspect of the property management. You only have to choose which package better suits your schedule, level of experience and budget. They see to all levels of tenant referencing, notice serving, rent collection, gas safety renewals, inventory, council and utility updating, maintenance coordinating, free readvertising, and many more. The tenant fees, however, depend on the kinds of services to be rendered. For instance, the full tenant referencing fee is £99 per responsible adult in the contract while referencing guarantors is £49 per guarantor.
About The Theonlinelettingagents.co.uk Template
This tenancy agreement template begins with a description of the kind of tenancy it covers which is those below 2years for a fixed tenancy agreement and editable for a periodic tenancy agreement. It contains fields for details of the parties involved and makes provision for three tenant. Of course, this can be edited to suit the maximum number of tenants desired by the landlord. The template also includes fields for other occupiers of the house under the age of 18. These may be the tenant’s children or dependents. If there are none, the user is free to delete the section off the template. However, the tenant is not allowed to have other occupants not indicated in the agreement live with him or her without a written permission from the landlord or any of his authorized agents if he or she has any.
The third clause cover the property and other common parts. It provides for a description of the property’s state (furnished, part furnished or unfurnished) and brief descriptions of the common parts of the property like garage and garden. The following clause which is the end of the fixed term makes provision for a continued tenancy which is the periodic tenancy agreement the user would be using. This way, the user can ignore the fields or delete them.
On the rent, the template provides a field for the amount and when it should be paid. Also, it treats rent reviews. Both parties will agree on both review dates and the percentage of the rent to be added in an upward or downward review. In the event that the landlord does not meet the requirements, there would be no review till the next review date.
Other common tenancy agreement clauses covered by the template include care, maintenance and redecoration of the property, assess to property by landlord or letting agent, landlords statutory grounds for the repossession of property and the process to he followed and his break clause in case he wants to sell the property. After the signatures, the landlord and tenant are to provide contact details and service of notices.