Assured Shorthold Tenancy Agreements (AST)

Assured Shorthold Tenancy Agreements (AST)

explained

Assured Shorthold Tenancy Agreements (AST) are the legal contracts that should be put in place between you and your tenants. These agreements ensure that yours and the tenants rights and responsibilities are formally documented and signed by both parties. If deciding to rent out a property it is absolutely crucial to have a AST drawn up and signed by your tenants. Should any dispute ensue this document will usually resolve the matter legally.

What are ASTs?

ASTs set out many of the key points of the agreement between you as a landlord, and any tenants that reside in your property. These can be very varied and specific to each individual letting however many are very similar and nearly always contain the following;

• The amount and frequency of rent and deposit payable to you the landlord
• The term of the tenancy agreements (e.g. 6months)
• Method of payment of (e.g direct debit)
• The landlord's obligation to insure the building and the tenants obligation to insure their contents
• The tenant's obligation to pay utility bills and council tax in a timely manner
• Tenant's obligation to keep the property in a good and safe state of repair

Where do I get an AST?

The most common source of ASTs is through a letting agent. If you are using the services of a letting agent to either find you a tenant or to manage your let property they will usually provide a tenancy agreement included as part of their service. Assuming they are a respected firm their agreements should be very up to date with current legislation and tried and tested through previous use with other landlords and tenants.

Another option is to buy an AST 'off the shelf'. A quick search on the internet shows that there are many for sale for as little as £20 you can find a generic agreement that you could use. You may even be able to find one free. However bearing in mind the small cost of these and the potential loss should a dispute or claim arise it is advisable to get any document you purchase checked out by your solicitor.