If you are a tenant or landlord in the UK, you may have heard of an assured tenancy agreement. This type of agreement offers both the tenant and the landlord a sense of security and stability, but what exactly is an assured tenancy agreement?
An assured tenancy agreement is a type of tenancy agreement that gives the tenant the right to live in a property for an indefinite period of time. It is a legal agreement between the tenant and the landlord that sets out the terms and conditions of the tenancy.
Under an assured tenancy agreement, the tenant has the right to live in the property unless the landlord can prove a valid reason for eviction. This gives the tenant a degree of security and stability in their housing situation, as they cannot be evicted without a valid reason.
Assured tenancy agreements are most commonly used for private rented accommodation, but they can also be used for housing association and council tenancies.
To qualify for an assured tenancy agreement, the tenant must have been living in the property for at least six months. The landlord may also require references, a credit check, and proof of income before agreeing to an assured tenancy agreement.
Assured tenancies also come with certain rights and responsibilities for both the tenant and the landlord. For example, the tenant has the right to repair and maintain the property, while the landlord has the responsibility to ensure the property is safe and habitable.
In addition, the rent for an assured tenancy agreement can only be increased once a year, and the amount of the increase is set out in the tenancy agreement. The landlord cannot simply raise the rent at will, which gives the tenant some certainty around their housing costs.
In conclusion, an assured tenancy agreement is a legal agreement between a tenant and landlord that offers both parties a sense of security and stability. It gives the tenant the right to live in the property for an indefinite period of time, and the landlord cannot evict the tenant without a valid reason. If you are a tenant or landlord, an assured tenancy agreement may be worth considering as a way to ensure a stable and reliable housing situation.