When it comes to renting a property, one of the most important things to consider is the type of tenancy agreement that will be signed. A tenancy agreement is a legal contract between a landlord and a tenant that outlines the terms and conditions of the rental agreement.
In general, there are three main types of tenancy agreements:
1. Assured Shorthold Tenancy (AST)
This is the most common type of tenancy agreement in the UK and is offered to most private tenants. An AST usually lasts for a minimum of six months and gives the tenant the right to live in a property for a set period of time. This agreement is often renewed after the initial term ends.
During an AST, the tenant has certain obligations, such as paying rent and keeping the property in good condition. The landlord also has certain obligations, such as maintaining the property and ensuring that it is safe and habitable.
2. Assured Tenancy
This type of tenancy is less common than an AST and usually applies to tenants who have been renting a property for a long period of time. An assured tenancy gives the tenant the right to live in the property for an indefinite period of time, provided they adhere to the terms and conditions of the agreement.
Unlike an AST, an assured tenancy gives the tenant more rights, such as the ability to make improvements to the property and to have their rent reviewed by an independent tribunal.
3. Protected Tenancy
A protected tenancy is the rarest type of tenancy agreement and applies to tenants who have lived in a property for a very long time, often for several decades. Under this type of agreement, the tenant has the right to live in the property for the rest of their life, as long as they pay rent and comply with the terms of the agreement.
Protected tenancies are extremely rare, as most tenants will move on to other properties or end their tenancy for other reasons.
In conclusion, choosing the right tenancy agreement is essential for both landlords and tenants. By understanding the different types of tenancy agreements available, both parties can ensure that they are protected and that their rights are upheld.