Tenancy Agreements

[Pferdestarke]

Hi. I'm about to rent my property out to some friends as we have bought a second. I am not charging them a bond as they are good friends and know that if they damaged anything they'd cough up with no fuss.

I want to create a tenancy agreement between us and wondered if anyone on here had one that I could see as an example and who could tell me the pit falls to look out for?

I will charge a month's rent up-front payable on the 1st of each month.

Thanks for any advice

[andy400]

I could e-mail you an AST example, but not 'til Friday as I'm not back home 'til then. Alternatively if you join the RLA or NLA, they both have the facility to customize and create the appropriate agreement online.

[Pferdestarke]

andy400 said:

I could e-mail you an AST example, but not 'til Friday as I'm not back home 'til then. Alternatively if you join the RLA or NLA, they both have the facility to customize and create the appropriate agreement online.

Thanks Andy, I'll take a look at joining the RLA / NLA.

[Swoxy]

How's this?
Email me if you want a more comprehensive one.

[singlecoil]

Are you sure you should be doing this?

[Piglet]

Treat it as a business agreement, don't get sidetracked by them being friends. Charge them a standard deposit and preserve your friendship.

[Funk Odyssey]

singlecoil said:

Are you sure you should be doing this?

in what sense?

[sunbeam_alpine]

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

[Pferdestarke]

Swoxy said:

How's this?
Email me if you want a more comprehensive one.

Thanks, just what we needed. Seems to cover everything.

Much appreciated!

[Pferdestarke]

sunbeam_alpine said:

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

You've had a bad experience and I expected someone to post a warning. They plan to buy in the next six months (our house) so it's a bit different really.

Just jinxed myself there haven't I?

[singlecoil]

Funk Odyssey said:

singlecoil said:

Are you sure you should be doing this?

in what sense?

in this sense

sunbeam alpine said:

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

[unclemark123]

sunbeam_alpine said:

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

2nd'ed

[Piglet]

Pferdestarke said:

sunbeam_alpine said:

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

You've had a bad experience and I expected someone to post a warning. They plan to buy in the next six months (our house) so it's a bit different really.

Just jinxed myself there haven't I?

Yes, sounds like a nightmare about to happen.

Hope it works out for you.

[Funk Odyssey]

singlecoil said:

Funk Odyssey said:

singlecoil said:

Are you sure you should be doing this?

in what sense?

in this sense

sunbeam alpine said:

I would strongly advise against letting to friends (if it's not too late!). I've done it twice (the second time against my wishes but persuaded by my wife) and both times we've ended up losing friends.

Sorry if this isn't the sort of post you're looking for!

P.S. We weren't the ones causing the problems - we're both very easy-going - but unfortunately sometimes people take the piss!

no probs -- thought it was a comment on the state of the rental market

[M@T.R]

I too would advise against it, my dad rented our house out to friends, suffice to say they are no longer friends.

[stigmundfreud]

if you do not get a bond agreement you are a mug. As posted above, friends are friends until money comes involved

[Catz]

Even if they're friends I'd get a deposit/bond.

Treat this as a business arrangement. My tenant is great and I'd trust her totally but I still treat the rental as business.