Your New Tenancy Agreement

By law you must be issued with a tenancy agreement if you decide to rent the property back after the sale has completed.

Should you only wish to remain in the property on a short term basis, then an Assured Shorthold Tenancy Agreement for the duration of your tenancy will normally suffice. However should you choose to remain in the property on a long term basis we can discuss the options available for a longer term tenancy commitment if that would make you more comfortable.

However you need to be aware that any tenancy you agree to will be subject to you meeting the terms of the agreement. In particular, should you default on rental payments you will be in breach of the tenancy.

We also understand that in the future your requirements may change and provide you with the flexibility to terminate the contract should you wish to do so. This is important because although you may initially think you require a long term let your circumstances may change.

The Inventory

Its is normal practice for us to carry out an inventory on the property upon completion of the purchase. This is a list of the fixtures and fittings that now belong to us as the owners and it will also include comments regarding the condition of the property.

We will provide you with a copy of the inventory upon completion and you will be required to sign it, providing that you are happy with the information.

Unless agreed otherwise upon completion we will own the items that are ‘fixed’ such as fires, fireplaces, radiators, fitted wardrobes, carpets, kitchen and bathroom suites and fittings etc.

Council Tax & Utilities

As you will remain as the occupier of the property after completion you will remain responsible for the council tax as it is the occupiers responsibility, not the owners. This normally means that you can carry on as you are. Should you be seeking housing or other benefit you should inform your local council as this may effect your council tax.

You will also be responsible for any utility supplies to the property but usually you will not need to make any changes, as the utilities will already be in your name. It is also advisable that on completion we carry out meter readings.

Insurance

Upon exchange or completion of the sale we will arrange buildings insurance. We require a different type of insurance to the one you will have in place and therefore will arrange our own. You will still be required to insure your own belongings with contents insurance. It would be advisable to discuss with your current insurer if your existing policy covers you as a tenant rather than an owner.

Keys

It is important that after completion we have a full set of keys for the property. Please note that we will never enter the property without your permission unless in the case of an emergency or in the event that you are vacating the property. For ease we recommend that you provide us with a complete set of keys, copies are fine (please check that they work first!) Retain your receipt and we will reimburse your costs.

Your Responsibilities

First of all your main responsibility is to keep up to date with your rental payments. If for any reason you think there is going to be a delay with your payment you should contact us immediately opposed to ignoring the situation, as we may well be able to help.

Remember we are here to help you but we do require your cooperation, should you refuse to ignore the situation this will usually result in us beginning repossession proceedings.

We will be required to provide you with decent accommodation, heating, light and cooking facilities. People will always have conflicting views on this area but providing you are comfortable living where you are, which you more than likely will be as you were already living their will normally be ok.

We are also required by law to ensure that your gas appliances are maintained and also have to obtain a gas safety certificate every year on any rental properties that have gas appliances (these include boilers, fires and cookers). We will arrange for this to be carried out annually and you will also be given your own copy of the certificate to keep for your own records.

We will carry out any larger works that are required to be carried out on the property such as plumbing, roof repairs etc. You are expected to maintain the property with the general day-to-day requirements such as cleaning, both internal and external and reporting any damage or faults to us so that they do not get worse.

Overall we are quite happy for you to continue treating the property in exactly the same way as when you owned it.

To find out how we can help you further click here to ‘see how it works’.

Talk to BLP today, our advisors are on hand to answer all your questions or book an appointment for us to come out and see you. click here for ways to contact us, alternatively call us on 01388 810 500.