When it comes to renting property, it`s essential to have a legally binding agreement in place that outlines the terms and conditions of the tenancy. This is where the RLA Company Let Agreement comes in.
RLA stands for Residential Landlords Association, and their Company Let Agreement is designed specifically for landlords who are renting property to companies. This agreement is suitable for a range of different scenarios, including commercial lettings and HMOs (houses in multiple occupation).
Here are some key points to know about the RLA Company Let Agreement:
1. It is a comprehensive document that covers all aspects of the tenancy, including rent payments, deposit amounts, and termination notice periods.
2. The agreement is legally binding, so it`s essential that both the landlord and the company renting the property read it carefully and understand the terms.
3. The RLA Company Let Agreement includes provisions for rent reviews, which can be particularly important for commercial lettings where the rent may need to be adjusted periodically.
4. It also includes provisions for repairing obligations, which specify who is responsible for maintaining the property and carrying out any necessary repairs. This is important to ensure that both the landlord and the company renting the property are clear on their responsibilities.
5. The agreement can be downloaded from the RLA website and customized to suit the specific requirements of the tenancy. This means that landlords can tailor the agreement to their individual needs.
In conclusion, the RLA Company Let Agreement is an essential document for landlords who are renting property to companies. It provides a comprehensive framework for the tenancy, ensuring that both parties are clear on their rights and responsibilities. If you are a landlord renting property to a company, it`s important to use a legally binding agreement like the RLA Company Let Agreement to protect yourself and your property.