An Assured Shorthold Tenancy Agreement is a legally binding document between a private tenant and a landlord. This document is used particularly if the tenant and landlord enter into a tenancy of 2 or more years, with provisions and guidance to help both parties understand their responsibilities and rights in relation to the property being rented.
Both the landlord and the tenant will be given an exact copy each. Both copies need to be signed by the landlord and tenant in order for the document to be legally binding. The Assured Shorthold Tenancy Agreement should be kept safe throughout the duration of the tenancy. Often landlords and tenants need to refer back to the agreement to ascertain rights and obligations.
If either the tenant or the landlord need to end the tenancy, notice must be given in writing. The tenant and landlord need to refer back to the tenancy agreement and comply with the terms. Notice period is in the terms, as well as rules in relation to the deposit to be paid back to the tenant, if it is due.
Since 6 April 2007, it is a legal requirement for the landlord to protect the tenant’s deposit in a tenancy deposit protection scheme. TDP schemes are protected by the government, so that the tenant is guaranteed the return of deposit if they’ve complied with the tenancy’s regulations, paid all bills and have not caused any damage to the property.
If you are either a tenant or landlord and are affected by any issues relating to a tenancy, please give us a call. SG
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