Landlord's Solicitor Checklist
At the outset of each instruction we will require:
- documentation to verify your identity
- evidence of the origin of funds to be used in the transaction
- heads of terms setting out the terms you have agreed with the tenant.
Contacting The Tenant's Solicitors
We will write to the tenant’s solicitors to:
- confirm instructions in relation to the proposed transaction
- verify the heads of terms with them
Property Information & Draft Documentation
Our role at Davies and Partners Solicitors will be to request information from you and prepare the property information for disclosure to the tenant’s solicitor which will typically comprise:
- title deeds – to verify the your rights of ownership of the property
- replies to CPSEs – standard set of enquiries providing information on range of aspects regarding the property
- EPC – a report on the building’s energy efficiency
- service charge information – relevant information on service charges is required where the property forms part of a building with several tenants
- buildings insurance certificate – to verify that the building is properly insured against fire and other insured risks
We will also draft the various documentation for the transaction, which aside from the lease itself, may include:
- rent deposit deed (to record any deposit paid by the tenant)
- licence for alterations (to evidence your consent to any works that the tenant intends to undertake at the property)
- notice and statutory declaration to exclude the protection offered by the Landlord and Tenant Act 1954
Pre-Completion Requirements & Document Signing
If you and the tenant agree to proceed with the lease, we will prepare the final document(s) and send the same to the tenant’s solicitor for signing. You will be required to sign the documents(s) in the presence of a witness.
If your property is mortgaged to a bank, we will submit a request to the bank for formal consent to the lease before completion.
Pre Contract Enquiries
Having received the property information from us, the tenant’s solicitor may raise a set of enquiries about the property and the lease itself. We will consult with you regarding these enquiries to obtain the information requested.
Review Of The Draft Documentation
Our role is to review the amendments that the tenant’s solicitor has requested. Depending on the arrangements with the tenant, we will similarly negotiate the terms of the rent deposit deed and licence for alterations.
We will advise you on the proposed amendments and consult with you for instructions.
In advance of completion, we will provide a completion statement to the tenant’s solicitor setting out any monies due under the lease payable at completion, including:
- Rent in advance
- rent/insurance due
- service charge (if applicable)
- deposit amount (if applicable)
The tenant’s solicitor is required to transfer these monies to our client account before completion taken place.
Completion Of The Lease
We will confirm that we are holding the documentation signed by you and request a similar confirmation from the tenant’s solicitor. The completion of the lease (and any supporting documents) takes place by both solicitors completing the dates on the documents over the telephone. Once the documents are completed, we will advise you accordingly and ask you to release the keys to the tenant.
Post Completion Matters
Following completion, we will:
- Send your signed document(s) to the tenant’s solicitors
- Await receipt of the tenant’s signed document(s)
- Send the original document(s) to you for safe keeping or retain them for you as you wish.
- If applicable, await confirmation from the tenant’s solicitor that the lease has been registered at the Land Registry.