If you`re a landlord managing a House in Multiple Occupation (HMO), you know the importance of having a well-drafted tenancy agreement. Without one, you could leave yourself open to legal issues and disputes with tenants. Here, we`ve put together a guide to help you create the perfect tenancy agreement template for your HMO.
1. Introduction
Begin with an introduction that clearly states the parties involved, the address of the property, and the term of the tenancy.
2. Rent
Specify the rent amount and the date on which it is due. It`s also a good idea to outline what happens if the rent is not paid on time.
3. Security deposit
Explain the amount of the security deposit and the circumstances under which it would be returned or forfeited.
4. Obligations of the landlord
List the landlord’s obligations, such as maintaining the property in a habitable condition, carrying out necessary repairs, and ensuring compliance with health and safety regulations.
5. Obligations of the tenant
Outline the tenant’s responsibilities, including keeping the property clean and tidy, paying rent on time, and not causing damage to the property.
6. Access to the property
Explain the landlord`s right to access the property and the procedures for providing notice.
7. Subletting and assignment
Clarify whether subletting or assignment of the tenancy is permitted and under what conditions.
8. Termination of the tenancy
Specify how the tenancy can be terminated by either party and the required notice period.
9. Dispute resolution
Include information about dispute resolution, such as how disputes will be handled and which party will be responsible for legal fees.
10. Miscellaneous clauses
Add any additional clauses that may be relevant, such as provisions for pets, smoking, or parking.
By following these tips, you`ll be able to create a comprehensive tenancy agreement that protects both you and your tenants. Remember to seek legal advice to ensure your tenancy agreement template complies with all relevant legislation and regulations.