Hello All,
I am a new landlord here I am about to sign the tenancy agreement for my 1st tennant. The property was bought in the name of my Ltd company for which is a sole director. My question is do I sign as myself or as a Ltd company
What are the implications of either of these options? I would appreciate your expert advice please
Regards
Tim
If the landlord is the Ltd co then you sign as the representative of the Ltd co.
The landlord details on the tenancy agreement simply neec to be contact details by which the tenant can serve notices to the LL. It can be an agent or yourself as Director of the Ltd co.
Best
If you are using OR, then when you create the tenancy agreement, you can add a ‘signing on behalf of’ field easily.
Whilst you can sign the tenancy agreement as sole director, you will need 2 signatures on any deposit documents. This can be director and company secretary, but if there is no co. sec, it needs to be countersigned by an independent witness.
The OR Rent now process does not allow more than one person to sign as ‘LL’, and hence none of my deposit info has ever been signed by two persons.
Why do you feel this is wrong? I wouldn’t expect this to be considered a deed, and a single Director can approve contracts can’t they?
My apologies. I think the case of Northwood Solihull Ltd v Fearn overturned the ruling in the earlier case of Bali v Manaquel and this may no longer be required. I will look into it further.
Edit: Yes, it appears that a director or their agent can now sign the deposit PI on behalf of a company landlord.