Which Rental Tenancy Agreement?

A well-drawn-up rental tenancy agreement which is clear and understood by both parties is one of the best investments that can be made. Agreements vary but mainly include contact details for all parties, agreed deposit monies, the amount of the monthly rent, the rental period and what happens at the end of the rental period.
 
There are a number of different types of tenancy agreement:-

• The most common type of agreement is the Assured Shorthold Tenancy.  This contract typically lasts for 6 months and at the end of this time the landlord has a right to have the property back, whatever the circumstances.
• With a Rent a Room Agreement the tenant rents a room in the landlord’s main residence and may give the tenant exclusive use of areas within the home.
• In an Excluded Tenancy the tenant rents a room and shares all facilities with the landlord. They can ask you to leave for any reason, including the relationship breaking down.
• House/Flat Shares can use an Assured Shorthold Tenancy in joint names. Tenants should make sure that everyone has an individual agreement so that if one person fails to pay their rent the rest are not responsible for his/her share.
• Assured Tenants have more rights, including no limit on how long they can stay.  The agreement can also be extended to include a spouse or partner.
• Regulated Agreements are rare.  They only exist if the property was rented before 1989 and can be extended to include any member of the family.

Whether you are a landlord or tenant, it is essential that you have an independent legal company check that the agreement is accurate and fair.

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Are you a first time renter or need help with your tenancy agreement or inventory? Then contact us at enquiries@designsonproperty.co.uk or tel 0845 838 1763 for independent help!

For more FREE information and help on renting property, take a look at the following tips and articles:-

The Importance of an Inventory

Top Tips for Tenants

10 Ways to be the Best Tenant!

Top Five Tenant Responsibilities to Your Landlord