Tenancy Agreements
The tenancy agreement is a contract between you and your tenants.
It specifies certain rights to both you and the tenants, such as the tenants’ right to live in the property for the agreed term and your right to receive rent for letting the property.
Please note that a tenancy agreement will be supplied to you as part the turtlehomes online Landlords service
Assured Shorthold Tenancy Agreement (AST)
Since the late 90’s, the AST has been the most common form of tenancy agreement and sets out the obligations of both tenant and landlord. The most important aspect of this agreement is that the landlord has the right to repossess the property at the end of the agreed term. Despite its name, the agreement does not have to be short and can continue as long as both parties are happy for it to do so. There is no minimum term specified, either, although the tenant has the right to remain in the property for at least six months.
If the fixed term is for three or more years, however, a deed must be drawn up by a solicitor.
There are specific requirements linked to an AST that include:
- The tenant(s) must be an individual (i.e. not a company)
- The property must be the main home of the occupant
- The property must be let as separate accommodation
The landlord is normally obliged to provide the tenant with at least two months’ notice if they want to terminate the agreement.
The agreement will most likely contain the following information:
- Your name, the tenant’s name, the address of the property which is being let,
- The date when the tenancy will commence,
- The duration of the tenancy from the start to the agreed finish of the occupation,
- The amount of rent payable, and how often it should be paid, when it should be paid and when it can be legally increased,
- The agreement should also state what other payments are expected, including Council Tax, utilities, service charges, etc,
- What services as landlord you will provide, such as maintenance of common areas,
- The notice period which you and your tenants need to give each other if the tenancy is to be terminated.
