Template for Assured Shorthold Tenancy Agreement
When it comes to renting out a property, it`s essential to have a clear and concise tenancy agreement in place to protect both the landlord and the tenant. One of the most common types of tenancy agreements in the UK is the Assured Shorthold Tenancy (AST) agreement. In this article, we will take a closer look at what an AST agreement is and provide you with a template to help you create one.
What is an Assured Shorthold Tenancy Agreement?
An AST agreement is a type of tenancy agreement widely used in the UK, which provides security of tenure for both the landlord and tenant. It is typically used for residential properties where the landlord wants to rent out the property for a fixed term of six months or longer.
Under an AST agreement, the tenant has the right to live in the property for the agreed-upon period, while the landlord has the right to receive rent payments from the tenant in exchange for allowing them to reside in the property.
One of the most significant benefits of an AST agreement is that it allows the landlord to regain possession of the property at the end of the tenancy agreement period. Under an AST agreement, the landlord must provide a two-month notice period to the tenant before requesting possession of the property.
Template for Assured Shorthold Tenancy Agreement
Creating an AST agreement can be challenging, especially if you are a first-time landlord. To help you create an AST agreement for your property, we have provided a template below:
[Insert property address]
This agreement is made on [insert date] between [insert landlord name] (the “Landlord”) and [insert tenant name] (the “Tenant”).
1. Property Details
The Landlord agrees to rent the property located at [insert property address] (the “Property”) to the Tenant for the period [insert start date] to [insert end date].
2. Rent
The Tenant agrees to pay rent of [insert monthly rent amount] per month, payable on [insert payment due date] of each month.
3. Deposit
The Tenant agrees to pay a deposit of [insert deposit amount]. The Landlord will hold the deposit until the end of the tenancy agreement period. The deposit will be returned to the Tenant subject to the terms and conditions of this agreement.
4. Property Use
The Property shall be used only for residential purposes and shall not be used for any other purpose without the prior written consent of the Landlord.
5. Maintenance and Repairs
The Tenant shall keep the Property clean and in good condition. The Tenant shall not make any alterations or repairs to the Property without the prior written consent of the Landlord.
6. Termination
This tenancy agreement shall terminate on [insert end date]. Either party may terminate the tenancy agreement by giving the other party two months` notice in writing.
7. Governing Law
This tenancy agreement shall be governed by and construed in accordance with the laws of England and Wales.
8. Entire Agreement
This tenancy agreement constitutes the entire agreement between the Landlord and the Tenant and supersedes all prior understandings and agreements, whether written or oral.
In conclusion, an AST agreement is an essential document for any landlord in the UK who wants to rent out their property. By using the template provided, you can create a comprehensive and legally binding agreement that protects both the landlord and the tenant. Remember to seek legal advice if you are unsure about any of the terms included in the agreement.