I have made an agreement with a tenant who has been in my property for a number of years to make a simple contract with him for which he will be solely responsible. He will thereafter rent out the rooms at his own discretion.
What is the best way to go about this?
I will create a new tenancy with him that needs to have his details and he will be responsible for rent, deposit, maintenance etc. However he needs me to insert a clause that i allow him to sublet the property.
What do i need to be aware of?
What would be the best way to set up this arrangement?
FYI the situation arose as i decided i would get an agency in to deal with everything being a busy landlord and not being able to keep an eye on all the comings and goings. When i told the tenants that they would all need to leave, this particular tenant who has been very good suggested the idea which is actually financially much better for me than giving it to a agency.
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