One of the most common reasons for disputes to arise between landlords and tenants is the lack of clarity in contracts. Therefore, it is essential for landlords to ensure clarity in the contracts before they hand over the property to tenants.
Make sure that the terms and conditions in the contract are satisfactory and protect your interests. It is better to double check the contents of the contract with your solicitor and estate agent before signing it. If the terms and conditions mentioned in the contract are vague, it could work against you at the time of terminating the contract.
As the termination date of the initial contract approaches, you will need to decide whether to renew or terminate it. If you chose to terminate, you will need to give the tenant the required notice period as stipulated in the contract.
If you choose to renew the contract, you must secure the agreement of the tenant for any changes or additions to the contract, including any rental increases. In case the tenant is not in agreement, then the required notice must be served, after which the contract is terminated. Subsequently, the tenant has to vacate the property and the deposit (less any deductions as mediated by the DPS) has to be returned to the tenant.
Strawberry Star can assist you with the process of identifying tenant, completing the documentation work and much more. For more information on our entire range of services for landlords, contact our London offices.