Hi
I am an independent letting agent operating under a registered limited company. There is just me in the business as the director. I have only recently noticed that 2 signatures are required when signing on behalf of a company. All my previous agreements I have signed by myself.
I have always used Landlordsguild tenancy agreements and they have all been esigned. Do I need to go back over all previous agreements to be re-esigned so that I have someone witness my signature? Should these be new tenancy agreements backdated?
1 Comment
Firstly, the tenancy agreement itself isn’t really a problem. That can be signed as agent without the formalities. The reason we ask for two signatures if a company is signing is because the deposit prescribed information is what matters and if two need to sign the prescribed information, might as well sign the tenancy that way for completeness.
However, from what’s described, we think you should be okay.
It’s super complicated as to when prescribed information must be signed under Companies Act formalities which is why we just say always sign with two signatures. This makes a complicated issue go away (we’ve never seen a claim for having too many signatures)!
However, in very brief summary, if a landlord protects a deposit AND that landlord is a company, then it must be signed under Companies Act formalities – no excuses.
But, if an agent protects on behalf of a landlord, although it wasn’t the point in question in recent cases, it would seem the agent doesn’t have to follow those formalities, even if that agent is a company.
As we say, it’s mega complicated and down to very minute specific wording but this is how it seems.
All of that being said, from now on, where you can and if possible, it would be ideal if you are able to have the two signatures. That way, the question doesn’t even arise as to whether you needed to or not and the whole problem is gone.
Please see this article for more information about the case.