Almost 10% of landlords don’t have a fully legal letting agreement
Research carried out by Direct Line for Business reveals that up to 10% of landlords don’t have a fully legal letting agreement between them and their tenants, whilst some have no formal written tenancy agreement with their tenants at all, and many others may have a defective one.
Nick Breton, Head of Direct Line for Business, said: “…tenants and landlords need a contract in place to protect both their interests. Contracts, deposits and deposit protection all help to make clear what is expected from each party when renting a property and which can help minimise disputes where possible. If an old contract is adapted it may not comply with new legislation or be relevant for the current market. Given the volume of disputes arising from tenancy agreements it’s important to get the contract seen by a legal professional before it’s signed.”