Sourcing reliable tenants for your bedsit can be challenging if you are not a full-time private landlord. Working with letting agents can solve this problem and help you spend less time managing tenants and the property if you decide to hand over the management to them.
An assured shorthold tenancy agreement (also known as an AST) allows a landlord to let a property to a tenant. The term of an assured shorthold tenancy agreement is usually 6 or 12 months and will usually convert to a rolling periodic tenancy at the end of the initial term.
A bedsit is a form of accommodation made up of a single unit in a property with shared facilities. A bedsit can be part of a HMO if the property has 3 or more tenants who make up more than one household. The landlord will have additional responsibilities including making sure the rooms are a certain size if the property is classed as a HMO. In this case, depending on where the property is located the landlord might need a licence from the local council.
A letting agent is a person or company which manages a property on behalf of a landlord. A letting agent will source a tenant and often create the tenancy agreement on behalf of the landlord. A letting agent can operate on a let only or full management basis.
A bedsit in a property which is not classed as a HMO might require a lodger licence agreement if the landlord is living in the same property and it is their main home. In this case, the occupier of the bedsit will classified as a lodger and will not have exclusive possession of their bedsit. The notice requirements will also be different.
Legislate's assured shorthold tenancy can be created by agents on the behalf of landlords. Agents can also sign on behalf of the landlord if they have their permission. The tenancy agreement also identifies the agent's details and responsibilities so that it is clear who tenants should contact.
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