What exactly is a Tenancy Agreement?
A Tenancy Agreement is a concise and legally binding contract between the landlord and the tenant in a furnished apartment, flat, or house.
Do landlords have the rights to add any terms or conditions they wish in a contract?
No, they don’t have any such rights. Consumer Contracts Regulations of 1999 contain all the Unfair Terms applied to all rented tenancies.
According to these regulations, if any clause in the agreement can be deemed unfair, then that clause is not enforceable.
However, this can only refer to all the standard terms contained in a contract and not to the clauses, which have been negotiated separately.
Common examples of unfair terms include forced exclusion or prohibition by the landlord or agent accepting responsibility for damage or loss to personal property, penalty charges, and specific unclear and vague clauses.
What are the things covered in a Tenancy Agreement?
- All the details of the Landlords
- Details of the Tenants
- Details of the Property
- Details of the Room
- Term or duration of Tenure
- Agreed Rent
- Mode of Payment
- Total Deposit
- The Inventory
- Agent Details
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What are my options if I do not want to use all the mentioned terms in the contract?
If you don’t require any part of the contract, you can always strike through that line in any section and then have it signed and initialized by both parties.
Am I eligible for an Assured Shorthold Tenancy?
Everyone is not eligible for an Assured Shorthold Tenancy. In addition, the Housing Act excludes some tenancy categories:
- Lettings to various companies
- Lettings at zero, extremely low or high rent (more than £25,000 per annum)
- Letting for Holidays
- All the tenancies that are arranged by a resident landlord. Resident landlord is a type of landlord who resides in the same property with the tenant albeit in a different section of the property.
- An agricultural tenancy or Tenancies for letting over two acres of any agricultural land
- All tenancies that were entered into the agreements prior to 15 January 1989 or any type of tenancy that used to be a protected tenancy before.
All the above-listed tenancies come under so-called ‘contractual’ or ‘common law’ residences, which are not eligible for assured Shorthold tenancies.
If your Tenancy is included in the above list, then your Tenancy must additionally meet three other requirements if you want to get an assured Shorthold tenancy agreement:
- the tenant should be an individual
- Separate accommodation should be used for dwelling
- This dwelling must serve as a principal or main home for tenant’s
What exactly is Stamp Duty?
Although stamp duty is applicable for all types of leases, stamping is not a compulsory requirement for short-term residential leases.
However, there should be a stamped letting agreement so that it can be readily accepted in court and considered a valid document.
That’s why; many landlords and firms do not care about stamping tenancy agreements unless they feel these documents may need to be produced in court if the landlord wants to start proceedings for possession.
Although it’s a requirement that lease documents be appropriately stamped within thirty days of execution, late documents can also be accepted at the Stamp Office for a small penalty fee.