This is an Assured Shorthold Tenancy ("AST") agreement which may be used to create residential tenancies of 6 months' or more, where annual rent will not exceed £100,000.
The document can be adapted to take account of numerous issues including company landlords, guarantors, break clauses, deed requirements and rent reviews.
Once completed our document will provide both tenants and landlords with an agreement that clearly sets out the responsibilities and obligations of both parties to the lease.
How this document is to be used
This document should be provided to the landlord, and guarantor and every tenant. Then, once every party has had an opportunity to consider its contents carefully, and to have raised any queries, each should confirm that they understand the document and are willing to agree to it, by signing and dating the document.
In the case of any lease that lasts more than 3 years, every signature should also be witnessed by an independent person who is not a party to the agreement.
Moreover, where either the landlord or guarantor is a company, the agreement should be signed on their behalf by two persons; either two directors, or a director and company secretary.
Each party should then be provided with a signed copy of the agreement.
Please note that if the document is to include an inventory, or if the landlord is to give notice to the tenant(s) under ground 1 of the Housing Act 1988, these items will be attached to the completed documents and should be completed prior to signing.
Assured Shorthold Tenancies are created and regulated by the Housing Act 1988 as amended. In particular, careful attention should be paid to those provisions regarding security of tenure and the Landlord's grounds for possession. In accordance with that act this tenancy will become a statutory periodic tenancy at the end of its fixed term.
Part II of the Law of Property Act 1925 also sets out the requirements regarding agreements to be executed by deed.
It should also be noted that s.11 of the Landlord and Tenant Act 1985 also implies certain terms regarding standard of repair into this lease agreement.
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