There are a variety of tenancy agreements available for renting and the most well-known arrangement is the assured shorthold Tenancy Agreement (AST).
Here is a brief overview of the things you need to be aware of before you sign an AST tenancy agreement
What is it?
It’s the most popular agreement for tenancy and the majority of new tenancies automatically being allocated to this agreement. When you move into your new home, you must have to sign a tenancy contract which typically lasts for a whole year.
The contract specifies the amount of rent you are required to pay and who is accountable for any damages or repairs as well as the length of the tenancy. At the beginning of the agreement you’re bound to paying the agreed-upon instalments on the agreed date.
Who can benefit from it?
To qualify as an AST lease The below must be met:
The property has to be private.
The beginning of the tenancy was at or after the 15th January 1989.
It is the tenants’ primary residence.
The landlord isn’t a resident at the property.
Tenancy agreements are not an AST due to one of the reasons listed below:
The tenancy was ratified or began prior to the 15th of January 1989.
The rental is less than PS250 per year (less than PS1,000 in London)
The rent is more than PS100,000 annum.
It is an apartment for a weekend lets
It is also a councilor from the local area.
It’s a business tenancy , or an authorized location
What are the benefits?
With an AST, the tenant is able to stay in the rented property until the time the fixed term expires. The only way that the tenure can be brought to an early conclusion is if the landlord can convince the judge that they have an argument that is strong enough to warrant expulsion e.g. damage to the property or inability to pay rent.
An AST gives tenants the right to…
Repairs must be enforced until they are completed
Get the security of the Tenancy Deposit Scheme
You will be treated with respect and without discrimination based on race, gender sexuality, disability, or gender
Get at least twenty-four hours’ notice in writing from the owner or the letting agent in case they would like to inspect the house (except in the event of an emergency)
What are the reasons to choose an AS?
Below we have listed some other lease agreements:
Non-assured shorthold tenancies occur the case when landlords are not required to provide notice of termination the tenancy
Excluded tenants are landlords who live with tenants e.g. lodgers)
Tenancies with assured terms are mostly used by housing associations
Tenancies with a Regulated Tenancy (used prior to 1989)
Companies let (when the property is rented out to a business and not an individual tenant)
A tenancy agreement that guarantees shorthold is the most appropriate option to take as it gives tenants the rights to tenancy mentioned above, but tenants can rest assured knowing that the rent will not increase without consent throughout the term of the agreement.
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