Best way to set up a private tenancy agreement?

[Gaspode]

I own a house that has recently become vacant (mother died) and which I wish to let. Some neighbours have suggested that their daughter would like to live there, and this would be enormously advantageous to me, as they are a decent family that would look after the place (I've known them for > 20 years).

So rather than getting a letting/management agency involved, I reckon we could draw up a private tenancy agreement ourselves. I could do the girl a favour by letting her have the place at a reduced rent if her dad would take on all the responsibility for maintenance and we wouldn't have to worry about agent's fees, which I understand are around 15% of the rent.

I note that it's possible to download templates for this off t'internet for 20 quid or so. Is this a sensible route or should I go and see a solicitor and pay them - presumably this would involve at least an hour's worth of work / 200 quid or so?

TIA

[Sir Bagalot]

Or you could join a landlords association for about £80pa (that is tax deductable) and download a free agreement

[Paul O]

I downloaded one off the internet. It asks a load of questions and you say Yey/Ney as to whether that applies to your house or your wishes and it produces a tenancy agreement ready to sign.

Just read through it all carefully, and make sure everything is in there that you want.

Even estate agents get it wrong - the last agent I used (a big chain) didn't have any notice period in the agreement.

[z4chris99]

pm me and ill send you mine.

im nice like that

[Gaspode]

z4chris99 said:

pm me and ill send you mine.

im nice like that

That's really helpful, thanks indeed! PM on its way.

[Wings]

Sir Bagalot said:

Or you could join a landlords association for about £80pa (that is tax deductable) and download a free agreement

^^^^^this, Tenancy Agreements etc. etc., latest legislation, free legal advice etc. etc. link to your local landlords association below, please even with a friendly potential tenant, following legislation with obtaining an energy performance certificate, a gas safe certificate for All gas appliances, check safety (including fire) of all electrical appliances and furniture, if deposit is taken ensure the same is protected, and lastly carry out an opening inventory.

http://www.landlordssouthwest.co.uk/