Rich - SR
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I am soon to be starting up a small letting agency in which my focus will be aimed around a tenant finding service for house/flat shares. My area is very in-demand for room rentals with professionals and students.
As the landlords I'll be working with will be live-in landlords and will just be looking for a lodger in one or two of their spare rooms, I'll just be providing a tenant finding service which will include advertising, tenant checks, inventory, attending viewings, and drawing up a lodger agreement for the landlord and tenant to sign. After they have moved in then that's it. The landlord will hold the deposit and receive the rent and I'll charge a one-time fee to the landlord once the agreement has been signed.
I am currently doing my ARLA Level 3 as I believe it is a good thing to have, but I'm struggling to find information to advice for landlords with lodgers.
My understanding is the following:
- The landlord can use a 'Lodger Agreement'.
- The landlord (nor myself as I won't be touching any rental funds) needs to registered with a deposit scheme or client money protect.
- The landlord or tenant can end the agreement with 28 days notice if paid weekly, or 1 month if paid monthly.
Are the above correct?
My next questions are:
- Does the landlord legally require a Gas Safety Check?
- Does the landlord legally require an electrical inspection every 5 years?
- As the tenant finding agent, is it common practice for me to have a contract with the landlord so I can receive some compensation if they decide to back out after I've found a tenant (but not yet signed the Lodger Agreement)?
I know the answers to these under a normal AST but not sure the tenant is going to be essentially a lodger?
Thank you in advance.