Assured shorthold agreement tenancy, commonly referred to as AST tenancy, is a type of rental agreement between a landlord and a tenant that is commonly used in England and Wales. It is a legal agreement that sets out the terms and conditions of the tenancy, including the rights and responsibilities of both the landlord and the tenant. In this article, we will discuss what an AST tenancy is, how it works, and what tenants and landlords need to know.
What is Assured Shorthold Agreement Tenancy?
Assured shorthold agreement tenancy is a type of tenancy agreement that was introduced in the Housing Act 1988 in England and Wales. It is the most common type of tenancy agreement and is used for private residential lets. AST tenancies are usually for a fixed term of six to twelve months but can also be periodic, which means that they roll over on a monthly or weekly basis if the landlord and tenant do not agree to renew the fixed term.
How Does AST Tenancy Work?
The AST tenancy agreement is a legally binding contract between the landlord and tenant, which sets out the terms and conditions of the tenancy, including the rent amount, the deposit, and the notice period. The agreement must include the start and end dates of the tenancy, and the amount of rent that will be charged. The landlord must also protect the tenant`s deposit in a government-approved scheme.
During the tenancy, the landlord is responsible for maintaining the property and ensuring that the tenant has quiet enjoyment of the property. The tenant is responsible for paying the rent on time, keeping the property clean and tidy, and reporting any maintenance issues or repairs that need to be carried out.
At the end of the tenancy, the landlord can either renew the tenancy agreement or end it by serving the tenant with a notice to quit. If the tenant wants to leave the property, they must provide the landlord with written notice and leave the property at the end of the tenancy.
What Tenants Need to Know About AST Tenancy?
As a tenant, it is essential to understand the terms and conditions of the AST tenancy agreement before signing it. You should ensure that you can afford the rent and the deposit, and that you understand the notice period required if you want to leave the property. It is also essential to report any maintenance issues or repairs that need to be carried out, as this is a requirement of the agreement.
What Landlords Need to Know About AST Tenancy?
As a landlord, it is essential to ensure that the AST tenancy agreement is legally binding and that all the terms and conditions are included in the agreement. You must also protect the tenant`s deposit by placing it in a government-approved scheme within 30 days of receiving it. You must also ensure that the property is in good condition and that any repairs or maintenance issues are carried out promptly.
In conclusion, AST tenancy is a popular rental agreement used in England and Wales for private residential lets. It is essential for both landlords and tenants to understand the terms and conditions of the agreement and to ensure that their rights and responsibilities are clearly defined. By doing so, both parties can enjoy a hassle-free tenancy agreement that benefits them both.