A tenancy contract between a landlord and a tenant is required before a tenancy can be legally binding.
The most common type of tenancy arrangement concerning renting a property is an ‘Assured Shorthold Tenancy’. This can be written or oral. Nevertheless, an oral agreement can sometimes be quite difficult to accurately interpret, so it is advisable to put together a written agreement.
This guarantees the ‘shorthold tenancy agreement’ to establish the corresponding rights, the duties and responsibilities of the landlord and the tenant, as well as the nature of the tenancy. It also secures the landlord’s right to have the property back upon expiration of the tenancy agreement.
A guaranteed shorthold tenancy is good for a minimum of six months. The tenancy can be arranged to expire at the end of a fixed period of time, or remains to exist on a month by month basis up until one or the other party decides on ending the arrangement with a written notification. If rent is paid once-a-month, the landlord usually has to provide two months’ written notice and the tenant, one month.
A guaranteed written ‘shorthold tenancy agreement’ should contain the follow details:
- Your name and the landlord’s name
- The address of the property
- The length of the tenancy period and the notice period
- The sum of rental fee and when it is due, containing any amount paid in advance and whether it comprises bills such as water rates and council tax
- Whether the tenancy is open ended or for a fixed term (If open ended, the tenancy agreement should comprise details of when the rent fee can be increased)
- Complete details regarding the deposit, what the deposit covers and when the tenant will get it back
- The responsibilities of the landlord in order to guarantee that the home is kept in decent repair
- Duties of the tenant, such as making sure they take care and look after the property and paying their due bills
Landlords need to be mindful that tenants are not commonly liable for the fair wear and tear under an assured shorthold tenancy, and must factor in an upkeep program in their budget.
The tenants should also have access to a Rent Assessment Committee if they sense that the rent fee is greater than the typical market rate for that certain area.
There are other arrangements of residential tenancy but these are increasingly rare. Abundant care needs to be taken when a residential tenant has been continuously in occupation of a specific property since before the 28th of February 1997. Older residential tenancies can grant the rent control and the tenant security of tenure and result in ‘sitting tenants’.
Table Of Contents
- Landlords Home Letting guide Intro
- Responsibilities Of A Landlord
- Landlords and Houses In Multiple Occupation
- Letting A Room In Your Own Property
- Contracts With The Tenants
- Pros And Cons Of Hiring A Letting Agent
- Landlord Letting Insurance
- Tenancy Deposit Schemes
- Evicting Tenants
- Difficulties That May Arise With Tenants