Ted Posted March 13, 2007 Report Share Posted March 13, 2007 I found a couple as my new tenants, the husband's company is paying the rent for them. Which type of Tencacy Agreement should I ask him or his company to sign? Company Letting or Assured Shorthold with his company as his guarantor? Which type of agreement would be more relevant and will give better protection to me? Your comments will be much appreciated! Ted Link to comment Share on other sites More sharing options...
GPEL Posted March 13, 2007 Report Share Posted March 13, 2007 What sort of company is it? If they are anything other than a limited company, set it up as an AST. If they are a limited company make sure at least 2 company directors sign. Company lets don't come under Housing Act legislation for possession proceedings and so, theoretically, are easier to re-possess if there are problems. Some landlords may ask a company director to individually underwrite the contract as a guarantor. If AST make sure contract refers to company acting as tenants' agent for rent payment; tenants however are still responsible for the rent payment. Link to comment Share on other sites More sharing options...
Ted Posted March 13, 2007 Author Report Share Posted March 13, 2007 Thanks, GPEL It is a limited company, a Japanese firm in Europe, head office in Japan. Can you tell me what happen when the Company Letting Agreement expires? Do I need to ask the company to sign a new fixed term agreement? Can the tenants stay on rolling basis without signing a new agreement? Link to comment Share on other sites More sharing options...
GPEL Posted March 13, 2007 Report Share Posted March 13, 2007 A new agreement isn't necessary and can roll on but make sure this is clear in the terms of the contract. Link to comment Share on other sites More sharing options...
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