Greene & Greene Discusses the Importance of Being a Savvy Residential Landlord

SUFFOLK, ENGLAND, July 30, 2012 (Press-News.org) Greene & Greene lawyer, Julia Cardy has spoken out about the importance of being savvy and prepared for every eventuality as a residential landlord.

Julia has detailed a five-point plan to avoid the risk and expense of dealing with undesirable tenants:

1. Carry out proper background checks on the tenant before the tenancy commences
Include credit history, salary information and appropriate references. Obtain an adequate deposit from the tenant; ideally, the equivalent of six weeks rent. You must protect your Tenant's deposit in an authorised Government scheme.

2. Ensure a proper assured shorthold tenancy agreement is signed by both parties
Insist that the terms of the agreement are clear and unambiguous - this must include dates and arrangements for paying rent. You should also decide whether to include "special" clauses depending on how well you know the tenant, such as whether pets are allowed in the property.

3. Prepare a detailed inventory
Before you allow a new tenant into your property be sure to make a detailed note of the condition of each room. Make a list of existing damage and complement this with photographs and sign and date them. Both parties should be asked to sign the inventory. Consider taking out landlord insurance - this is designed to cover any unpaid rent by the tenant and any legal fees incurred pursuing a claim.

4. Ending the tenancy
You, or the tenant, will not be able to end the tenancy during the fixed period, unless the tenant has breached the tenancy agreement or unless you specifically agree a break during the fixed term. After the fixed term has come to an end (usually 6 to 12 months), the tenancy becomes a statutory tenancy, running from month to month or week to week, depending upon how the rent is paid. If you then wish for the tenant to leave, you must give at least two months' notice in a prescribed form unless the tenant has committed a breach of the agreement.

5. At the end of the tenancy
Be sure to check the condition of the property against the inventory agreed at the beginning of the term. Try to agree on all items with the tenant and notify them if you need to take deductions from the deposit for any repairs. If the tenant objects, consider using the Deposit Protection Service's adjudication procedure to resolve matters.

Julia also advises landlords they must obtain an Energy Performance Certificate (EPC) before the property is marketed to let.

For further information on document preparation for new and existing landlords call Greene & Greene today on 01284 762211.

About Greene & Greene
Greene & Greene is a long established firm of solicitors based in Bury St Edmunds, Suffolk. Our lawyers advise individuals and businesses based all over the UK. To find out more about landlord document preparation please contact our lawyer, Julia Cardy, with nearly 20 years' experience of acting for owners and occupiers of commercial premises and servicing residential landlords.

Website: http://www.greene-greene.com/