By using Legislate's tenancy agreement, you can automate the process of creating a tenancy agreement, and document the terms in an effective, legally binding way.
An assured shorthold tenancy agreement (also known as an AST) allows a landlord to let a property to a tenant. The term of an assured shorthold tenancy agreement is usually 6 or 12 months and will usually convert to a rolling periodic tenancy at the end of the initial term.
A rolling tenancy is a tenancy which automatically renews periodically on a rolling basis until either the tenant or the landlord serves notice. The renewal period will depend on the payment frequency of the rent. For example, a tenancy where rent is paid monthly will renew on a monthly basis. A tenancy where rent is paid every 6 or 12 months will renew for 6 or 12 months respectively.
A rental property might include shared facilities such as an accessway, garden or parking and it is important to detail them in the tenancy agreement to avoid confusion.
A rolling tenancy is common in teancy agreements as it can give confidence and certainty to both the landlord and tenant after the initial term that the property can be occupied and rent will be paid. However, if the landlrd wants to recuperate the property at the end of the initial term, they should make sure that the tenancy agreement does not automatically convert to a rolling periodic tenancy and serve a notice before the end of the fixed term to recuperate it. This is often the case for private landlords who let out properties to student tenants for 12 month fixed terms at a time.
Legislate's assured shorthold tenancy allows you to specify the shared facilities if there are any.
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