Should I get a new 12 month tenancy agreement signed?

Reply to the comment left by Yvonne Francis at 21/03/2018 - 13:29
This may be of use:
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://researchbriefings.files.parliament.uk/documents/SN05149/SN05149.pdf&ved=2ahUKEwitsd23yf3ZAhWKI8AKHR4dBUAQFjAKegQICRAB&usg=AOvVaw226U7QlfdFULkvsaWojI-0
I have never used a Deed of Assignment and prefer the new tenancy route. Far less for a judge to argue about. As far as the deposit protection is concerned. The advice from the DPS is that the deposit for the original tenancy will have to be returned as the new tenancy will have different tenants to the old one.

Reply to the comment left by Gary Nock at 21/03/2018 - 14:17
I think this question relies on which type of tenant you have. I have students jointly and severally liable on a 12 month fixed term tenancy. If one tenant gave notice then they would have to find a replacement or the outgoing tenant would still have to pay or the rest of the tenants would have to make up the difference. I am sure the remaining tenants would not want to leave even if they were entitled to do so. This works for me as well as them.

I have found a Deed of Assignment useful as the remaining tenants do not have to supply a new Parental Guarantee and I do not have have to pay again for a new deposit certificate.

The link you have sent me applies mainly to social housing which I guess can be a completely different ball game.

But the case law applies regardless of whether or not it's social housing. I have never been involved in student lets and probably never will be. My expertise is in delivering a 99.9% risk free let to my landlords with rent insurance guarantee and paperwork to match.

Thanks guys, I think I'll shop around and see how much another agent would charge to sign-up another 12 month agreement, given that there is already an existing tenant in place and an inventory + epc & gas certs (if the tenant chooses to stay - if not, I'll just go with another agent on a let only basis and I'll continue to manage the property myself).

The remaining tenant is a professional working tenant and it's in his name, with a single payment from him, the partner was just added to the new tenancy agreement I believe but essentially the remaining tenant is the one responsible for all payments and the rental in general.

Reply to the comment left by Yvonne Francis at 20/03/2018 - 13:18
Yvonne thank you for your suggestions. My tenants deposit was registered and I have the copy but I don't think it was re-done for the new tenancy (I was advised because one of the tenants was staying on and it happened to be the tenant that the deposit was originally registered against, there as no need - hopefully this is correct)?

As per your and Heather G's advise I would certainly consider self managing including the AST. However with all the regulations and legal issues to keep up to date with these days I'd be uncertain if I'd completed it correctly and also if I ran into issues (such as one tenant moving out and the other remaining), I'd have nobody who I could simply lift the phone to and find out straight away, whereas by using an Agent I can simply phone and ask them. In fairness the letting agent I used was friendly and helpful and their knowledge seemed quite good but unfortunately it seems their office is completely unorganised and rather incompetent when it comes to paperwork and getting agreements signed up etc...

I look after the management myself though and thankfully to date it hasn't been very difficult to maintain - hopefully it remains that way.

Reply to the comment left by Joe at 22/03/2018 - 09:06
If the outgoing tenant is shown on the DPS Certificate and they have left then the certificate is no longer valid and neither is the prescribed information. This renders you liable for a claim for up to 3 x the deposit. The certificate and deposit protection only remains valid if the landlord, property, and tenant(s) remain the same. If any of these change then the original deposit should be returned and a new deposit protected.

Reply to the comment left by Gary Nock at 21/03/2018 - 19:06
Gary, if I read your link correctly this applies to periodic tenancies. In my case I always have 12 months fixed tenancies where neither side can give notice and would never consider rolling that over to a periodic tenancy. I also deal in tenancies much larger that 4. So I really can not see how this would apply to some tenancies. If it did in my case then it would cause great difficulties in the ever expanding student market and would give my tenants unsecured accommodation. As I said this is a completely different ball game.

Reply to the comment left by Joe at 22/03/2018 - 09:06
Increasingly, landlords are self-managing and replacing their ' lifting the phone to their agent ' of varying degrees of competence, to joining a Landlord Association such as the NLA where virtually unlimited professional and insured Advice is given. I can only see this increasing with the ban on tenant fees.

Whilst some landlords are quite competent in setting up a tenancy correctly and complying with the ever increasing regulatory burden, some are not or don't have the time. Or both. It depends on the lanlords circumstances. The average tenancy process from start to tenant occupation, takes around 16 hours as follows:
Initial valuation and property legal compliance attendance / report and taking photos including travelling time - 2 hours;

If req arrange for gas cert, elec cert, pat tests, EPC, fire risk assessment and carry out legionella risk assessment.
2 hours

Advertising, viewings, and prospective tenant liaison and referencing / Right To Rent including travelling - 3 hours;

Prepare tenancy agreement, DPS certificate and prescribed information digital inventory,( 3 hours by itself) How To Rent Booklet. Assemble into tenancy pack. Check all details. 5 hours.

Attend at book in. Take payment of rent and deposit. Sign all documents with tenants, initial all pages. Show them how all appliancs work. Check smoke and CO alarms on the day. Take utility readings. 2 hours.

Return to office. Copy all papers and issue / serve regulatory compliance docs on tenant as listed above and obtain signature acknowledging receipt. Notify utilities of tenant change. Obtain rent insurance if requested. Send copy to landlord. 2 hours.

Total 16 hours.
This is an average. Some take more, some take less but this is a reasonable estimate.