Demystifying Tenants

Have you got questions about tenants? Then you’re in luck because today Allan will be discussing the different types of tenants, tenancy agreements, and the different ways you can have people staying in your property. He’ll also be touching on his experience with student flats versus professional HMOs, evicting tenants, and background checks.

KEY TAKEAWAYS

• As a landlord, having a letting agent who can act on your behalf in a timely manner can really help protect you legally. It adds that extra layer of security so you know issues will be fixed without you becoming liable to action down the line. 
• Letting agent background checks verify the identity, employment status, and income of potential tenants to ensure they can meet their rental obligations. This helps minimise the risk of non-payment or financial issues during the tenancy.
• Background checks can provide insights into a tenant's rental history, including references from previous landlords. This helps assess their reliability, responsibility, and ability to maintain a tenancy agreement.
• Assured Shorthold Tenants (AST) is the most common type of tenancy in the UK. ASTs provide tenants with a fixed term tenancy agreement, usually for six or twelve months, after which it can become a periodic tenancy.
• Regulated tenants have secure tenancies in properties that were rented before 15 January 1989. They have strong rent control and other legal protections.
• A common law tenancy, also known as a non-assured or non-regulated tenancy, refers to a type of tenancy agreement that is not governed by the specific provisions of the Housing Act 1988.
• Excluded tenants, also known as licensees, do not have the same legal protections as other types of tenants. They usually live in accommodation where the landlord also resides, such as a lodger arrangement.
• The first step in eviction proceedings is to serve the tenant with a formal notice, typically either a Section 21 Notice or a Section 8 Notice, depending on the circumstances. These notices specify the grounds for eviction and the date by which the tenant must vacate the property.
• If the tenant does not voluntarily leave by the specified date in the notice, the landlord can apply to the court for a Possession Order. This involves submitting the necessary paperwork and paying the required fees.
• A court hearing will be scheduled where both the landlord and the tenant present their case. The judge will consider the evidence and determine whether to grant a Possession Order.

BEST MOMENTS
‘You need to understand what kinds of tenants you’re targeting with your property’
‘Tenants are very well protected in the UK from eviction’
‘As a landlord it is your legal responsibility to protect a tenants deposit in the right way’

EPISODE RESOURCES
My Deposits

ABOUT THE HOST
Allan Harding
I’ve had an amazing career through setting up my own businesses. It's time I gave that back to help other people achieve where they want to be in life. Through my learnings and those of the guests I have on the podcast I hope you find what you are looking for. I am certainly learning with every conversation that I have.From Art to finance, IT to Music, Some of my guests have led extraordinary lives and you can too. These recordings are unscripted and a natural conversation that explores peoples inner beings!

CONTACT METHOD
Instagram
Website - https://allanharding.co.uk

PODCAST DESCRIPTION
Entrepreneur, Business owner, Property investor and developer, Allan talks to people across the world asking questions that will help you determine your own journey and help. Having built several successful businesses and created a lifestyle to be proud of, Allan has set out on a journey to help as many people as possible achieve their dreams.

Hit me up on Instagram!: https://instagram.com/allanh1

Hosted on Acast. See acast.com/privacy for more information.