An assured tenancy agreement is a contract between a landlord and a tenant that creates a legally binding relationship. This type of agreement guarantees that the tenant has the right to remain in the property for a certain period, known as the tenancy period. The terms of the assured tenancy agreement are outlined in the contract, which sets out the conditions for living in the property, including rent, tenancy length, and tenant obligations.
Unlike an assured shorthold tenancy (AST), which is a common type of tenancy agreement in the UK, an assured tenancy agreement offers the tenant greater security of tenure. This means that the tenant can live in the property for as long as they like, as long as they comply with the terms of the agreement.
One of the key features of an assured tenancy agreement is that it provides the tenant with the right to sublet the property. This means that the tenant can allow other people to live in the property with their permission. However, the tenant remains responsible for ensuring that the property is well-maintained and that the rent is paid on time.
Another important aspect of an assured tenancy agreement is that the landlord cannot increase the rent without first obtaining the tenant`s agreement. If the tenant refuses to agree to the rent increase, the landlord must apply to the courts for permission to do so.
The assured tenancy agreement also gives the tenant the right to repair and maintain the property. This means that the tenant can carry out repairs themselves or hire a professional to do so. If the landlord fails to carry out repairs, the tenant can apply to the court for an order requiring the landlord to carry out the work.
In summary, an assured tenancy agreement provides the tenant with greater security of tenure than an AST. The agreement sets out the conditions for living in the property, including rent, tenancy length, and tenant obligations. It also gives the tenant the right to sublet the property and to repair and maintain it. If you are a tenant, it is important to read and understand the terms of the agreement before signing it.