Be clear about Tenancy Agreements and Tenancy Deposit terms

Posted under Advice by Alan

A tenancy agreement is a contract that legally binds the landlord and the tenant to their responsibilities and obligations.

Following are some instructions to ensure a fool-proof Tenancy Agreements:

•    Write it in plain and clear language.
•    The clauses and terms should be fair to both the tenant and the property owner.
•    If there is any particular clause that is important to either of them, they should discuss it before making up the contract.

Tenancy Agreements:
•    Assured Shorthold or AST is the most common form of tenancy agreement. The clauses are very flexible and have very straightforward procedures to end a tenancy. It also has the Accelerated Possession court procedure in case the tenant fails to vacate the property
•    A Contractual agreement is used when a specific condition has to be met. This is when a registered company is the tenant. Another example would be when the rent is over twenty-five thousand pounds.
•    Assured tenancy agreement is very rare and it gives the tenant considerable and very long-term security. The landlord can repossess the property under very limited conditions.

The Tenancy Deposit is usually equivalent to four or six months of rent money. This safeguards the quality of the performance of the tenant and their obligation to maintain the property and keep it clean. The deposit is usually refunded at the end of the tenancy.

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