What is an Assured Shorthold Tenancy Agreement?
This is the usual form of Tenancy Agreement between an individual Tenant or Tenants and a Landlord and can apply to most lets where the annual rent is less than 25,000 and the let is for a minimum of six months or less by mutual agreement. Under such an Agreement the Landlord cannot terminate the Agreement before the minimum six month term has expired (other than by mutual agreement) and must then give the Tenant no less than two months formal notice of his desire to terminate the Agreement, unless of course, there has been some material breach of the Agreement by the Tenant. Usually the Tenancy Agreement will be for a term of one year less one day and at the outset both parties will agree when and under what circumstances the Agreement can be terminated during that Term.
An Assured Shorthold Tenancy Agreement is a type of Letting contract. It is a legally binding document under the Housing Act 1988 that, as your Agent, we would draw up between you – the Landlord, and the Tenant. The Agreement clearly sets out the terms of the Letting (e.g. the amount of rent, your rights and responsibilities etc.) for both parties to agree. The tenancy must be for a minimum period of six months and a Notice of Shorthold Tenancy has to be served on the Tenant before the Agreement is signed and the Tenancy entered into. The Agreement is your primary safeguard in the event of problems or of a dispute with your tenant. The Agreement allows you to easily recover possession of your property at the end of the tenancy.
