Property prices are often on the rise and surely many of you can not afford to buy a property. Or the reason may be that you change often the place of residence due to work or other related issues. For this reason, the rental market can afford a reasonable alternative to those who are looking for accommodation. However, renting an apartment or a house comes with certain clauses that you will have to meet. And in order to be able to find s proper accommodation that will be in accordance with your preferences, here comes the tenancy agreement. Read the paragraphs below to learn about the different types of tenancy agreements, what would be your rights and those of your landlord, as well as what taxes may occur and are there any unfair terms that you should avoid.
What is the Tenancy Agreement?
The Tenancy Agreement is a contract between a person who wants to rent accommodation and the landlord. In most cases, it is a document that has certain clauses regarding the terms and conditions of renting, residing and leaving the accommodation that both sides sign upon. The major and most important things concerning the rental agreement should be described in a clear and proper way.
What Are the Different Types of Tenancy Agreement?
Depending on the type of property that you will be renting, there are different types of tenancy agreements. They may include various different clauses and the price can vary depending on how big or how luxurious the property is. Here is the list with the most common types of tenancy agreements:
• Assured shorthold tenancy:
this is a type of tenancy where the property is the tenant’s main accommodation and the landlord doesn’t live there. Most often, in this type of tenancy, there is a fixed initial period of six or twelve months. During this period the rent can not be raised unless the tenant agrees.
• Non-assured shorthold tenancy:
this type can be used in particular situations such as, for example, if the tenant has his main home elsewhere or the landlord lives in the same property but doesn’t share the same facilities with the tenant.
• Excluded tenancy:
this is the type of agreement when the landlord lives in the same property with the tenant and they share the same facilities. Unfortunately, the excluded tenancy does not give as much protection to the tenant as the assured shorthold tenancy.
• Assured tenancy:
These types of tenancies are a bit outdated as they were more popular between 1989 and 1997. For this reason, you are not likely to stumble upon this kind of tenancy often as it gives long term-rights of the tenants.
• Company let:
this type refers to situations where the property is rented to a company rather than an individual person. Here the terms and conditions are quite different from those of the assured shorthold tenancy.
After all, the most common and more widely used type of tenancy agreement is the assured shorthold tenancy. However, the rental price may vary depending on how big is the rented accommodation and where it is situated. Of course, the bigger the city, the bigger the rent. But is the city is bigger, the price may range according to the neighbourhood too. Usually, accommodations are cheaper if they are far from the city centre and even cheaper if they are somewhere in the surroundings of the city. But have in mind that what also matters is how luxurious the accommodation is and how equipped it is at the time when you sign the tenancy agreement.
These all are among the major factors that may set the price of the rent. You can have a look at the table below to see what is the average weekly rental price in the different parts if the UK.
What Would be the Right Tenancy Agreement to Choose.
You have to carefully consider whether you will be needing accommodation for a long period or you will be residing shortly. Of course, you have to carefully make a decent calculation if the price of the rent would be affordable for you, If not, maybe you will have to make a compromise with location and the condition of the accommodation. Moreover, you should pay careful attention in advance to the certain terms and conditions of the tenancy agreement in order to avoid any misunderstandings after the contract comes into force.
According to the tenancy agreement, there will be certain rights to both the tenant and the landlord, which have to be carefully outlined in the terms and conditions of the contract. For example, in some cases, the tenant will not be allowed to have a pet in the accommodation, or to make any interior changes. In most cases, any kind of repairs is the responsibility of the landlord, unless otherwise specified. There may be some additional clauses that allow you to make some changes in order to reside more comfortably.
Another important part of the tenancy agreements is the taxes and expenses connected to the property. In some cases, the taxes (tap water, electricity, garbage fee or bills for the common residential area) may be included in the rental price, or you will have to pay them separately. There are also cases when part of the taxes can be paid by the landlord. But these are rare cases.
In order to be able to make a reasonable saving, you should take into considerations all these factors that we described above, and carefully decide what would be the best type of tenancy agreement for you.
If you are unsure about your tenancy agreement, seek legal advice or contact Citizen Advice Bureau. They even have a special section tailored for tenancuy agreemenst and advice. If you can't find what you are looking for online, contact them over the phone.
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