TonyW Posted February 29, 2012 Report Share Posted February 29, 2012 I am looking for a little advice relating to diy AST agreements. My daughter is moving out of her mortgaged home to a rented flat with her partner. She is keeping hold of her property and has found a tenant/friend from work who is moving in. No LA involved as she will be handling all this herself. I have tried to advise to the best of my ability financial and legal aspects but I fear the advice may have fallen on deaf ears to a degree I have some concerns that this should be done correctly and have advised her to make sure she gets and Assured Shorthold Tenancy agreement completed. The agreement has been completed but I was a little shocked to find out that: a. No deposit is being taken b. That rent will be in arrears In the AST document it does state that rent will be paid in advance. In this case she has added to the document Rent will be paid in arrears. By altering the document is there a potential problem or even the possiblility that an AST by nature must have rent paid in advance. Link to comment Share on other sites More sharing options...
Richlist Posted February 29, 2012 Report Share Posted February 29, 2012 You/ your daughter are making a number of big mistakes, 1. Never, ever alter an AST unless you know what you are doing or have taken legal advice. 2. Over simplifying the letting process.....something your post suggests you are doing........is a recipe for disaster. Have you any idea of what you need to do? Link to comment Share on other sites More sharing options...
Carryon Regardless Posted February 29, 2012 Report Share Posted February 29, 2012 Obviously relevant legislation rules the situation where a court might come into the situation, other than that what they agree is up to them. It sounds like your Daughter is allowing herself to be at great risk though. Has she informed the lender of the change ? Has she informed the buildings insurer ? I'm sure you know there should be a gas inspection and ECP. Link to comment Share on other sites More sharing options...
TonyW Posted February 29, 2012 Author Report Share Posted February 29, 2012 Richlist, you are correct in the respect of my daughter trying to over simplyfy the process, but wrong in any assumption that I am trying to do the same. What she is doing is only partially taking notice of what I am trying to tell her is correct - admittedly with limited experience on my part. Ultimately she is going to do what she thinks is right but I hope she can accept advice, little evidence of it so far though!. The AST change was to me the most concern but as she has accepted payment in arrears rather than in advance she changed it! I am not entirely happy about the situation from a legal standpoint relating to the AST terms being changed and can accept in a court of law that this could prove troublesome for her.. COR, At least at my insistence she has a. Informed the lender and is now effectively on a buy to let mortgage rate b. Landlords building cover has been sorted by me on her behalf c. Gas inspection and ECP and annual service also arranged by me I do think she is being naive and foolish in respect of not taking a deposit and accepting payment in arrears even for a friend. Regardless this is going to happen next week! Link to comment Share on other sites More sharing options...
Carryon Regardless Posted March 1, 2012 Report Share Posted March 1, 2012 Because of experience and learnings from here it's easy to assume everyone is out to abuse. It may be that their approach will work out well, I hope so and wish her good luck. Link to comment Share on other sites More sharing options...
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