Types Of Tenancies

Accommodation to let requires a written agreement between landlord and tenant. This takes the form of a tenancy agreement that projects both parties. There are a number of different types of agreement and it is essential to provide the right one for your tenant.

A tenancy agreement clearly sets out what is expected of the tenant, and what they can expect from the landlord and the accommodation in return. It is a legally binding document that also covers short term lets. There different types of tenancies on platforms that are the basis for these agreements. The most common is the Assured Shorthold Tenancy or AST. To be acknowledged as an AST the tenancy must be between a tenant and a private landlord (housing associations are also covered). The agreement needs to have started no earlier than 15 January 1989, and the property must be the tenant’s main place of stay. Additional, you as the landlord, cannot live at the same property. ASTs do not cover properties where the rent is less than £1000 a year in London, or £250 a year outside of London, or where the rent paid is above £100,000 per year. It is also not relevant to businesses, licensed premises, or holiday lets. Where an AST is not appropriate you and your letting agents, may need to consider an excluded tenancy; aimed primarily at lodgers. There are also assured tenancies and regulated tenancies that provide the tenant with additional eviction protection, as potential alternatives.

Why London For Property Letting

Lettings agents in London look after property and landlords in London and the surrounding areas. But, why, as a landlord would you choose to buy property for let in London, especially as it is seemingly an increasingly crowded market? There are a number of reasons why London is still the place for property investment.

The main reason for letting property through reputable London letting agents is demand. While it is true that there are an increasing number of landlords and agencies available to renters, the number of potential tenants also continues to increase as people are drawn to the country’s Capital City. This is particularly true in relation to quality, reasonably priced family accommodation in good school catchment areas. From your perspective by offering accommodation at a reasonable price and quality, that fills gaps in the market you will be able to make a good return on your investment. Other reasons to consider London for your letting properties, through letting agents, is its proximity to major travel routes. This means that large areas of the country are open to tenants for work and personal travel from their home. Choosing London, from a tenant’s perspective is not just about transport links and work opportunities. It is also about being in the centre of one of the country’s most vibrant cities and being able to take full advantage of the social and cultural opportunities that the city offers is residents as well as its visitors.