Assured Shorthold Tenancies, or ‘ASTs’ are the most commonly used type of private tenancy in the UK. If you're a landlord in Bromley then its most likely your tenancy will be on an Assured Shorthold Tenancy Agreement.
What is an assured shorthold tenancy?
This is the most common type of tenancy agreement, to let residential properties to private tenants. A shorthold tenancy lasts for a minimum of six months. The landlord and tenant will have this agreement for a set term. An "assured" tenancy means that the landlord could potentially evict the tenant after the initial fixed term, without the proper legal reason for doing so. For a tenancy to be eligible for an AST it must be the tenant’s main residence the landlord must not live in the property.
Rules for AST's
1. Landlord must not live in the rented out property
2. Rent must be more than £250 per year
3. Have to be a private landlord or housing association
4. Agreement on or after 15 January 1989
5. Property is the main home and accommodation
6. Not used for a holiday let
7. The landlord cannot be a local council
8. The rent cannot be more than £100k per annum
9. Cannot be a business or licensed property of any sort
Here is a helpful guide for landlords on tenancy agreements.
Contact us today on enquiries@djames.co.uk for the full guide on Assured Shorthold Tenancies