Online tenancy agreements 'waste of money'

News Category: Management

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Letting agents and landlords might find that tenancy agreements available over the internet for up to £50 could be a waste of money, an expert has suggested.

According to Paul Farndon, property management consultant at learnletting, speaking at the Landlord and Buy to Let Show in Birmingham, landlords will not find that a tenancy agreement will serve them any better, just because they pay for it.

"Tenancy agreements are available from £5 up to about £50 on the internet but that doesn't mean that the £50 version will be any better than the £5 version," he added.

To improve their property management, landlords and letting agents could consider downloading free versions of tenancy agreements, before choosing which elements to include in their own, self-designed versions, Mr Farndon suggested.

According to statistics released by mydeposits.co.uk in October, some 38 per cent of deposit disputes related to cleaning costs.

Property damage accounted for 11 per cent of problems while the late payment of bills or rent caused four per cent of cases.

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