There are a variety of different tenancy agreements you can choose from for rent, but it is important to determine what one is best for you. The most well-known agreement and one that is ranked above all others is the assured shorthold Tenancy contract (AST). For you to put the mind at rest, we’ve got everything you must be aware of before you sign the contract.
What exactly is it?
It’s the most popular kind of tenancy agreement, and most newly leased tenancies automatically go to the contract. When you move into your new home, you must receive a tenancy contract to sign. In an AST, your tenancy typically lasts for a minimum period of 12 months.
The agreement will specify how much rent you are required to pay as well as who is responsible for any damages or repairs and how long the lease period will be. Beginning with this agreement, you are obliged to pay the agreed-upon installments at the agreed time.
Who is it that can benefit from it?
A tenancy agreement is an AST only if each of the following conditions are met:
The property that will be rented is a private
The tenancy began on or after 15th January 1989.
The property is the tenant’s primary residence.
The landlord doesn’t live in the house.
A tenancy contract is not an AST If:
The tenancy was negotiated or started before the 15th of January 1989.
The rent is lower than PS250 an calendar year (less than the PS1,000 mark in London)
The rent is greater than the PS100,000 annual figure.
It is an apartment for a weekend rental
It is the landlord of a local authority.
It’s a tenancy for business or the tenancy of a licensed property
These guidelines have been adapted from www.gov.uk.
What are the advantages?
With an AST tenancy agreement you are entitled to the right to remain in your rental property until the term of your lease expires. The only way that your lease can come to an end earlier is when your landlord is able to convince the court that there are valid grounds for your eviction e.g. significant damage to the property , or rent arrears.
Being a tenant possessing an AST grants tenants the ability to…
Repairs must be enforced until they are completed
Do you have your deposit from tenancy secured in a deposit security scheme
You will be treated with respect, regardless of race, gender or sexuality
Get at minimum 24 hours’ written notification from either the tenant or the letting agent, if they would like to access your property (except in emergencies like water leak)
What are the benefits of choosing an AST?
In relation to tenancy agreements, besides ASTs there are the followingtypes:
Non-assured shorthold leases (landlords are not required to notify tenants of the end of the tenancy)
Leases that do not qualify as excluded (for landlords who reside with tenants e.g. lodgers)
Tenancies that are guaranteed (mainly employed in the past by housing associations)
Tenancies that are regulated (used prior to 1989)
Companies let (when the property is rented out to a business and not each tenant)
Having an assured shorthold tenancy agreement is the correct way to take. In addition to having all the rights to tenancy that were mentioned earlier, but you also have assurance that your rent is not subject to increase without your consent throughout the term of your contract.
