Tenancy agreements are binding and are important to protect both the landlord and the tenant. They include key information and govern the relationship between a landlord and tenant. As a landlord it is essential that your tenancy agreement protects your investment as much as possible, and that you fully understand all aspects included.
The most common form of tenancy is an assured shorthold tenancy (AST) and the agreement should include (at least):
- The full names of all people involved
- The property address
- The rent figure and how it is to be paid (frequency and payment type)
- Information on how and when the rent will be reviewed
- The deposit amount and how it will be protected
- Confirmation of when the deposit can be fully or partly withheld (e.g. damage to the property)
- The start and end date of the tenancy
- Any tenant or landlord obligations
- Notice period for repossession (for both landlord to tenant and vice versa)
To ensure your tenancy agreement contains all relevant information, and all obligations are clear from the outset, speak with GA Solicitors’ experienced residential landlord and tenant team today.